AskGuru Q&A Community

Hi,

What are objectives in doing so? Is the current unit upkeep proving too stressful? (Eg. too big a size for daily cleaning, or mortgage servicing too taxing?) If there are strong reasons in doing so, and finances comfortable for the move, it is always good to explore the move. After all, the balance lease of flat is less than 60 years, and flats are too old will depreciate faster in resale value and be more difficult to secure a buyer next time. It may not be best for retirement planning. It was the case for one of my clients in the west, and they sold off their 40+ years old 5 room HDB and unlock the proceeds for retirement.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.

Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.

Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

He is hardworking and committed to his work. He puts in great efforts in arranging clients for viewings and kept us updated thereafter. He is ever ready to help and guide us whenever the need arises.

He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

Thanks, Ivan. Keep up the good work! Read More

Hi do contact me at 97970200  to discuss more

Mark, your RIGHT choice
MCG Read More

Dear sir/madam,

Before we look into whether or not you should be planning for a move, we will first need to examine the finances portion, since borrowing for your purchase will be a major consideration, especially so if after your sale, a significant portion of the funds will be locked into your CPF retirement account, depending on your existing CPF status.

Once these are cleared, we can then sit down proper to discuss what is best moving forward in your scenario.

We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Thank you for your support in 2016 for the Top Producers Award - https://bit.ly/No1Team

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

My self introductory video on https://youtu.be/6UfrCOCB6Mg

Regards,

Geryl LIM
Consultant - Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

G.A Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! Read More

Hi, moving forward, a HDB unit is no longer deem as an investment and the older a hdb unit gets, the valuation will keep on dropping.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Sir,

Thank you for your query!
To be able to fully advise you in this regards, I will need to succinctly understand your finances to be able to tailor make a plan based on the financial calculation plans. There are various scenarios in which you could find yourself in -
1) keep the HDB, rent it out and earn passive income while you stay in your newly purchased condo
2) keep your HDB and diversify your assets by investing in private property for passive income and future % scope
3) own more than 1 property in asset capitalisation and MORE!

Hence, perhaps you can contact me at 96659926  for a short discussion for me to run you through the overview of the purchase framework, understand your requirements and specifications as well as calculate your finances on hand (Cash/CPF amalgamation) to construct a financial plan with payment timeline. Based on your objectives and protected returns in mind, I will be able to narrow down ideal developments and shortlist exact unit layout type for your perusal. I have actively transacted many private properties (testimonials available on website) and since you may be unfamiliar with the process, you might want to tap onto advise and guidance in this regards, at no obligation of course. I will walk you through the entire process from selecting developments/ arranging viewings, handling bank/finance aspect, arrange for your legal processing matters as well as handle all paperwork. Furthermore, I will take the opportunity to run you through past and present transaction caveat & illustrate a pricing and sales report with projected returns/ capital gains for you to observe and understand, offering market insights for your consideration. Additionally, I would be able to share more on the varied marketing strategies and mediums through which your property might get maximum exposure as well as study the recent up to date transaction caveats of similar sized units in vicinity and hence, present a sales and elevation report to advise further. I have transacted a EM unit in Bishan at Record Price and it was published in the Newspaper (Available on my website). Thank You!

Visit my website for my recent accolades, awards and testimonials@ www.kumarrai.com.

D Kumar
 +65 96659926 
ERA Associate Division Director

#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7

ERA 2015 Q1 Top Achievers (Top1%)
ERA Top Achievers 2013-2017
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group
Overall Top 100 achievers 2014-2016 Read More

Hi Ma'am, based on your question, and from my personal point of view, it is better to sell and buy a newer HDB resale flat.

Hope to hear from you soon!

Sincerely,
Edvan 84241222  Read More

Dear Mdm,

My suggestion is that you may want to consider selling this current flat and get a newer condo or hdb flat depending on your financial situation.

The capital upside of HDB is limited. Moreover, once the lease is less than 60 years, you will face challenges selling it due to restrictions on the loan and CPF usage for the buyer. If you have utilised your CPF towards purchasing the HDB, it will continue to accrual interests and there interests will further erode the value of the house.

You may wish to consider getting a newer unit taking into consideration your financial situation. It is advisable not to over leverage as you may have retired or going to retire soon and therefore will not want to have long term financial burden.

Please feel free to contact me so that I can understand your situation and needs better before I can assist you further!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nicktan.com.sg

Featured on Council for Estate Agencies (CEA) Newsletter:
https://www.cea.gov.sg/docs/default-source/module/newsletter/3-2017/bouquets-for-property-agents.html

Testimonial from Satisfied Clients (2016/2017)
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”

Peter & Wendy (Property Seller)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought a property through Nick) Read More

Hi,

I believed you had read all the responses from my comrades.

It would be wise to sell and get a smaller unit due to stress in:
(a) daily cleaning and upkeeping
(b) run down due to old ages

If the answer to both is positive, then "Yes", you should sell away to relief yourselves.

There are 2 options:
(1) Apply for a flexi lease 2-rm BTO unit (30~45 yrs lease) from HDB, reasons are:
(a) Low requirement on cash
(b) Staying in non-mature estate or mature estate does not make a great difference as both of you properly already retire from rat race.

(2) Buy a 3-rm resale flat
(a) Faster in process
(b) Can choose a unit from larger pool

Both options will relief you from higher conservancy charges, enjoy higher subsidary, lower upkeeping efforts.

The downside on making such move is to sell old flat does not generate much sales proceed, and takes longer time to sell.
Do note that whichever decision made will has the same result.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly. Read More

Good evening,

As your HDB unit have balance lease of 56 years, it might not be easy to secure a buyer. The location of your unit will play a vital part in decision making.
If you are looking at down grading to smaller BTO unit, chances are that you can utilize the fund from sales to pay for it. However, if you are looking at getting a private property, we will need to understanding your financial standing.
Based on both your age, it would be unlikely that the bank will provide you with mortgage loan. Your CPF fund would also likely to be locked due to the Basic Retirement Sum requirement.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

Looking for an experienced agent with knowledge on sales and purchase of residential property in Singapore?
With more than 10 years experience on all S&P cases, along with knowledge related to:

1) Mental Capacity Act
2) Long Lasting Power of Attorney
3) Esate Planning and Distirbution
4) Divorce
5) Bankruptcy
6) Purchase of HDB after Retirement Age

You can be sure that your concern and doubt will be cleared. This would allow you to move forward in one of your life's most rewarding decision with ease of mind. Read More