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I bought my 5I HDB at $540,000 6 years ago in Hougang

I want to buy sales of balanced flat 5-room HDB in Sengkang Drive at $400,000

I have outstanding Bank Loan of 250,000
CPF left 10,000

Will it be wise to do so?

Reason is we not satisfy with the current place and if we can lower our loan and move would be considering
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3 Answers

Dear Mr Sand DF,

1. Did you purchase your Hougang flat direct from HDB or via resale? Any CPF housing grant utilised?

2. If you are looking into the reducing loan, we will need to look into the probable selling price for your current place, as well as the CPF utilised with accrued interest to determine if this move can meet you financial objective.

3. As you are targeting SBF, you will need to launch into action in terms of disposing your current place once you are selected and have successfully selected your flat of choice. Timeline will be crucial in such circumstance and with current COVID-19 in full swing, activities in the resale market can be compromised.

I have been in the real estate business since 2009, with more than 10years 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 clients’ 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.

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YT Tan (陈永达)
Good afternoon,

i do understand your intention to move.

Is your existing flat in Hougang a resale flat?

Did you obtain any housing grant?

Perhaps we can meet up to discuss your options further to see whether is it feasible to do the change.

I personally stay in Hougang as well, hope my familiarity in this area will be the best tool to source for qualified buyers.

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Dear Sir/Mdm,

From the information you have provided, it seems that you are in a good position financially to make the switch.

However, 1it requires meticulous planning in terms of timeline and finances to determine whether it is a sensible move.

Please feel free to contact me so that I can understand your situation better and draw up a transition plan for you!

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

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