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I am trying to look for a bigger house in Pasir Ris but due to recent developments it has become so expensive. Me and my wife live in a 3rm flat in Tampines and should command around 400k at least but i am the sole breadwinner of my family with a possible HLA of 360k only. We are actually looking at an EA near my parents house and my brother and sister also lives within walking distance. The house is asking for 880k. It has almost the perfect condition for our requirements but is it worth to squeeze that extra cash per month for mortgage payment for our dream house?
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7 Answers

Hi,

If the house is fully renovated and the design style fits your lifestyle requirements with minimal touch up required, I think its worth a consideration. There are also other large 5-room units in Pasir Ris that may be more affordable, just wondering if you have considered those options?

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
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Ivan was prompt in replying to my endless queries & concerns. He was very attentive to details and he knows my exact 'taste' during the process of house hunting. I would say that my requirement in getting a flat is quite high because i was looking for a flat located near my parent's as well as the MRT station. It impressed me that he could read my mind well which makes the whole transaction alot easier. I also love the fact that he is calm, not pushy & always ensuring me that there are still sufficient time to look out for other available houses. We are so thankful beyond words for his understanding and patience thoroughout the whole process. We managed to sell our BTO with 4 months extension & secure a 5 room flat without COV, located near my parent's and a 3 to 5 mins walk to the MRT station. What's even better is that the flat that we purchased is superbly convenient as it is just beside a big shopping mall! Thank you Ivan for all your effort & for the smooth sailing transaction!

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YT Tan (陈永达)
Good evening Sir/ Mdm,

Shall we work out your finances before proceeding further?

Do always spend within means, cash flow is important.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
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Hi there!

Firstly, I would like to thank you for your query!
With sales and purchase, I always pre empt my clients with a thorough financial calculation plan with timeline to ease the transition. This will help predispose options aligned with your needs, budget and objectives. I have transacted heavily in the East and am very experienced in the transaction caveats and market movement in the specified regions. Read More
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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 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 and will take the opportunity to run you through past and present transaction caveat & illustrate a pricing and customised sales report with projected returns/ capital gains for you to observe and understand. I will usually share about the property outlook with my clients and tailor make a plan that suits best for them in years to come. Thank You!

I have a huge belt of over 15 years of experience in the industry with multiple awards and accolades to my name till date- which speaks of my professionalism, body of work, skills and experience.

Do visit my website for my recent accolades, awards and testimonials @ http://www.kumarrai.myweb.sg

D Kumar
 +65 96659926 
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Dear sir,

First of all, congratulations to your plan to upgrade your asset. From your description, it seems that there is a huge element of intangible value involved in your shortlist of the apartment, being near to your family members where family support like caring for your children (if any) and parents can be made more convenient and these are the values that can be difficult to establish in dollars and cents, and it really differs between the different households if coughing up the additional cash per month is worthy or not.

As a real estate professional, our scope of advise and opinion is usually down to the monetary value, and for the rest, it is really on a case by case basis of the realtor you engage to provide the advise. For me, as a father with 4 young children and also a sole breadwinner in the family (I am a fellow Tampines resident too), I can fully understand the dilemma you are in therefore I will really encourage you to list down the priorities of your family clearly first and separating them into the needs and wants before making a decision.

I have been in the real estate business since 2009, with more than 13 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!

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Dear Sir,

I would not recommend you stretching beyond your comfortable budget just to upgrade since you are the sole bread winner in the family. It would be more ideal to to work out your finances first, ie to understand how much sale proceeds from the current flat and your CPF refund. Together with your cash savings, CPF amount in your OA, eligible loan amount and the CPF Proximity Housing Grant, we then can determine whether it is a comfortable move.

Please feel free to contact me so that I can gather more information from you and work out the finances for you. In this way, you will get a better idea before you proceed.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
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SEAA Salespersons Achievement Platinum Award 2020

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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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Hi,

1) The median selling price in Tampines for a 3-rm flat is $370k according to the data published by the HDB.
2) With your HLE of $360k, I would say this is over-stretching your finance unless you have sufficient cash and CPF saving to cover the difference.
3) Perhaps you could consider a 5-rm flat with a median selling price of $580k or be able to negotiate the EA price down to nearer to $720k.
4) Note that the above figures are the median selling price of HDB flat type in that estate.
5) Thus newer flat or higher levels still command for a higher value. You have to do your homework to find out the most reasonable price to offer to the sellers.

Hope the above answer your main concerns, but if there are more query, 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
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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