AskGuru Q&A Community

Afternoon Adel,

As to when is the best time to start hunting, I would need to know your requirements for the purchase. High floor, corner, specific facing, only looking at particular blocks or sector are some deciding factors.

Do feel free to contact me for detailed discussion.

Regards
Mike Lim
 96929209 
ERA Read More

Hi Adel,

I will suggest you to seriously start hunting for a new flat when date's closer to your current's flat MOP date as you wont be even able to sign on the OTP even you manage to find a resale flat of your choice.

You have to understand nowadays HDB sales come and go in a spilt second. My team sold an EM in Hougang in less than 1 day just 1 month plus ago and one of my buyers didnt manage to purchase a 4RM High floor corner unit with $60k COV last week as it's sold within 1 1/2 HOURS!

You can start viewing units 1 month before MOP date (look at the unit layout in a few series of flats) then do serious house hunting (focus on those series with your preferred unit layout) probably starting 2 weeks before MOP date. At the meantime, you can start marketing your unit for sale as well.

1) What are your requirements in your next HDB purchase?

2) Are you doing any Contra?

Lastly it will be good to do up your financial plans before we proceed any further. Cant be when you are about to place an option money for a flat then you realise you wont be able to afford it with your current finances and sales proceeds.

I will love to assist you with your property needs, hope to hear from you real soon! =)

Warmest Regards,
YT TAN
District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More

Dear Adel,

The best time to start the entire process will be when you are ready to commit. By that, I mean when you have met your MOP for your existing place. Plain simple and straightfoward as most my fellow professionals have advised:

1) When you are not ready to commit to any purchase, what happens if you have seen a unit you like? Feel the heartache of letting other buyers secure that unit?

2) You cannot change the layout and the locations of the units therefore it does not make a difference to view before or after MOP, so time will be better used elsewhere with your family until you are ready.

Most importantly, you will need to understand the timeline involved in the sale of your existing unit to the purchase of the new unit, how to time well for the finances to be ready and the type of loan you will undertake, especially so with the new MAS regulations coming into effect from 6th October 2012.

If there is anything else I maybe able to assist, perhaps you may wish to contact me further. If any of your friends or relatives require any assistance in real estate matters, feel free to pass on my contacts to them too.

Regards,
Geryl LIM
Real Estate Consultant/ District Manager
CEA Reg R014783G
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More