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Dear Sir,

It is always a good decision to upgrade if you can. Judging from the preliminary information that you have provided, you should be in a good position to upgrade from your BTO.

You should have made a profit from the BTO and therefore should leverage on the profit to upgrade. Condo has a much higher potential to appreciate in the long run as compared to HDB as HDB generally depreciate in value as the lease balance runs out.

Before proceeding, my advise is to do up a financial plan, to find out how much you can borrow and how much cash and cpf commitments are required to upgrade to EC or a resale condo before making the move.

I have assisted many of my clients who are in the same situation. Please feel free to contact me so that I can understand your situation more and draw up a financial plan for you so that you can have a better idea before making any move.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020
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Mr & Mrs Tan (Seller of Inter-Terrace House) 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. Hope to hear from you soon and have a great week ahead.

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

Hi,

Just some quick numbers illustration based on the figures shared, the cash and CPF proceeds will approx $330k after the hdb sale.

For the next property, you can consider new EC or resale EC or private property as Canberra MRT has a number of condo options in the vicinity. Let's use 1 Canberra as an example (resale EC). The 3 bedrooms unit is approx $1mil. And max loan is approx $750k.

Assuming $12k per month, monthly loan obligations of approx $1.5k (car loan, credit card etc), 25 year loan tenure, you should be able to loan max approx $1.1mil, more than the $750k required.

The down payment after selling is as follows:
5% cash $50k
20% cash or cpf OA $200k
75% max loan $750k
3% approx stamp duties and legal fees $24.6k

Hence based on the sale proceeds of the current BTO, it is definitely sufficient to make the upgrade in terms of downpayment and stamp duties. For a $750k loan, interest rate at 1.4% pa, 25 year loan tenure, monthly is approx $2,964 . There is still some buffer from the sale proceeds and current savings to manage the mortgage repayments for a certain period of time.

Hope this helps to clarify. I have worked with various clients facing similar situation. For a more in-depth discussion, please get in touch at 9743 2395  and I look forward to share more in person.

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 Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

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I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan. Read More

Hi Sir,

Happy New Year to you and your family!

Based on the figures you have stated, you should have cash proceeds plus CPF refund of approximately $340k after the sale of your current HDB flat.

You stated that your combined household income is $12k, but I do not have both your age, hence I'm unable to ascertain your maximum loan you can qualify for.

Having said that, as long as you're not in your late 40s or 50s, you should be able to secure a loan that can allow you to comfortably upgrade to a EC or a private condo. Your cash proceeds from your current flat should also be able to downpay for the condo you're looking at.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi

From the information you provided, you seems to be in a comfortable position upgrading to an EC and condominium. With HDB prices depreciating in value over the years and government might come out more cooling measures in the future to ensure HDB flat prices remains affordable, owning a HDB is no longer an appreciating asset. In fact, if you do plan to upgrade, it is highly advisable if you sell your BTO fast to take advantage of the profits before the value of your flat depreciate much further. In order to advise further, I need a more detailed information in regards to your financial profile to enable me to do a detailed calculation and analysis on the expected cashflow. I have assisted several clients in successfully upgrading to a private property. Do contact me at 93375051  for a free and non obligatory consultation on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More