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Hi,

Sorry to hear about the situation and I hope you are managing well. Is the final judgement court order already out? If so, you will be able to sell the flat if that is permitted by the court order.

For option 1, new 2-room flats you can consider to apply but from observation this category is always multi times oversubscribed due to the demand from singles for it. And for second timer in your case the chances are even more slim. You also have to factor in the rental expenses during the construction period since you do not plan to move back to parents place. That can work out to around 90k say for a period of 3 years at $2500 monthly rental.

I would be more inclined to go with resale in your case since its more straightforward and you can monetize the spare rooms immediately to help you cover the mortgage. Also you still get to keep your own space somewhat and avoid the rental expenses. Its better to go for relatively newer flats with 80 to 90 years balance lease, both for easier resale next time and also if you decide to stay elsewhere next time (be it new partner or move to parents place again), the rentals in the long run can help to recoup the purchase price outlay when rented out long enough a period. For example a $3000 rental for whole unit, it takes approx 17 years to recover the $600k purchase price, which with the long balance lease definitely can help you to achieve that. Relatively newer flat also saves on the potential reno costs because usually they are better maintained with only one owner.

I have handled divorce cases before and help the parties move on smoothly. I am contactable at 97432395  for further discussion.

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

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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We were fortunate to have met Ivan Ng. He was thorough in going through what the complicated home-selling process required of us and more so in understanding what we would like to achieve from the sale of our unit. His responsiveness and assurance, was a trait that we really appreciate. We managed to secure a sale that exceeded our expectation with Ivan’s advises. The offered price for our unit was a record set for the flats in the neighborhood. This was definitely supported by the fact that Ivan’s listing of our unit was detailed and stood out from other listings. Because of this, we also engaged Ivan's service to help us search and buy our new resale home. After some searches and viewings, we managed to secure one at a reasonable price with his help. With Ivan’s cheery and positive demeanour, selling our unit to procuring a new one, was a smooth journey for us. It was a pleasure to have worked with him. Read More

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, is the final court judgment out yet?

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

Hi,

I am sorry to hear about your situation, hope you're coping well.

Let's arrange a meetup to discuss further on your options once your divorce is finalized?

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More

Hi there,

Sorry to hear about the situation. Your question is relatively broad base as you are looking to consider another property that can cover you in all aspects from resellability to rental for supplement of income to manage the home loan as well as good locations.

Am unsure about the proceedings of your matrimonial split, how the finances will be splitted and how your bad credit score is going to affect your HDB or bank loan eligibility, thus it is very difficult for us to be able to provided any form of value added opinions if I maybe frank. Whatever opinion given here will be a generic one and is quite unlikely to allow you to have any fruitful conclusion or even considerations as your situation is going to be heavily dependant on the questions I have put above.

Without considering the above questions, I will personally go for the resale option where I can move into the purchase unit almost immediately and also rent out the spare bedrooms for additional income to supplement my monthly mortgage. I will be working on a 5-10 years plan for this purchase if I do intend to sell and purchase another property in the future, therefore the lease balance of the unit I am looking at will unlikely be those with less than 70 years and this means I will not be selective in terms of location, so as to preserve the resellability of the unit I have purchased.

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
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Hi Sir/Mdm,

May I offer my humble opinion on the following options:

1. The chance of getting a 2 room flat is quite slim as the supply is limited. The size of the flat is also quite small and you wont be able to rent out the rooms to generate some income.

2. Option is worth considering. Bank loan interests is slowly coming down and for bank loans, you will not be subjected to the right sizing of loan and therefore you can leverage on a higher loan amount to finance the flat while renting out 1 room to cover part of the mortgage payment.

3. I think location should be an important consideration. I would recommend you getting a unit within the walking distance to MRT. This is because from 2nd half of this year onwards, all the new BTO flats which are near MRT will be classified under the PLUS model which have more restrictions and longer MOP. Older flats which are located near MRT will continue to have a strong demand in the future.

Financially, I think you are in a good position. Please feel free to contact me so that I can gather more information from you and assist you further!

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

SEAA Salespersons Achievement Platinum Award 2020/2022/2023

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“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)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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“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 satisf Read More

## Options After Divorce and Selling HDB Flat:

Here's a breakdown of your options based on your situation:

**Your Situation:**

* Selling matrimonial flat (BTO) and splitting proceeds (approx. 250k OA + Cash)
* Eligible for second HDB loan (up to 350k)
* Monthly income 5.5k
* Poor credit score (limits bank loan options)
* Want to buy a new flat
* May get married again in the future

**Options:**

1. **2-room/99 Lease Sales of Balance Flat (Feb 2024):**

* **Pros:**
* No loan needed (saves on monthly repayments)
* Preserves eligibility for future HDB loan (if you get married)
* **Cons:**
* Smaller living space may not be ideal long-term
* Limited resale options (mainly to eligible buyers)

2. **Resale Flat (600k Budget, HDB Loan):**

* **Pros:**
* Larger living space
* Potential for passive income (renting a room)
* **Cons:**
* Uses second HDB loan, limiting future options (bank loan only)
* Location might be non-mature estate (if looking for newer flats)

**Resale Flat - Older vs. Newer:**

* **Older Flat:**
* **Pros:**
* Better location options for your budget
* **Cons:**
* Resale might be harder in the future

* **Newer Flat (5-10 years MOP):**
* **Pros:**
* More modern amenities
* Easier resale potential
* **Cons:**
* Location might be non-mature estate
* Might exceed your budget

**Recommendation:**

* **Consider your priorities:** Think about how important a larger space and passive income are to you now.
* **Future Plans:** If you seriously consider remarrying, keeping the second HDB loan option open might be beneficial.
* **Long-term vs. Short-term:** A smaller flat now (option 1) can hold you over until you potentially buy a bigger place with your future spouse (using the second HDB loan).

**Additional Tips:**

* **HDB Eligibility Check:** Use the HDB website ([https://www.hdb.gov.sg/](https://www.hdb.gov.sg/)) to check your eligibility for different flat types and loan options.
* **Consult an HDB Officer:** Schedule a consultation with an HDB officer to discuss your specific situation and get personalized advice.
* **Consider CPF Usage:** Explore options for using your CPF Ordinary Account (OA) for your downpayment.

By carefully considering your options and priorities, you can make an informed decision about the best route forward for your housing needs. Remember, there's no single "best" option, so weigh the pros and cons based on your unique circumstances. Read More

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