Asked by Anonymous
Is it wise to buy a 30 years old condo if I want to resell after 5-7 years
3953 views
7 Answers
Dear Sir/Mdm,
As condo gets older, they may become less attractive due to older facilities and higher maintenance cost. There will be additional restrictions on the CPF usage and therefore the pool of potential buyers will be smaller as compared to the newer condos. However, older condos are good candidates for collective sale if the land that the project is sitting on is underutilized.
Please feel free to contact me so that I can understand your situation better and provide you with more informed advice.
Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg
I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews
I have written a guide on buying Residential Property:
http://bit.ly/buypropertyguide
Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
“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 satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More
As condo gets older, they may become less attractive due to older facilities and higher maintenance cost. There will be additional restrictions on the CPF usage and therefore the pool of potential buyers will be smaller as compared to the newer condos. However, older condos are good candidates for collective sale if the land that the project is sitting on is underutilized.
Please feel free to contact me so that I can understand your situation better and provide you with more informed advice.
Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg
I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews
I have written a guide on buying Residential Property:
http://bit.ly/buypropertyguide
Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
“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 satisfied with his services and will definitely recommend him to our friends and family in the future.”
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. By the way, usually buyer going for an older condo is because the price is generally cheaper and it is often for family stay. So if you are thinking of it as an investment, you may end up selling as a negative sale.
Regards
Aaron Chong
9730 8455
aaronchong2774@yahoo.com.sg Read More
Regards
Aaron Chong
9730 8455
aaronchong2774@yahoo.com.sg Read More
1
Hi,
Most developments that are 30 years and older will be typically more difficult to sell due to perceived age and condition of unit and facilities. If its a 99 year leasehold property, financing one with balance lease of 60 years or less is even more difficult for younger buyers who will have their CPF and Loan pro-rated due to a shorter lease that may not be able to fully cover them to 95 years old. The buyer pool will shrink and become more limited and your future resale price may not be able to breakeven versus your entry price.
May I know which development you are looking at? Happy to compare the pros & cons of the options. 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
ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
ERA Top 91 Achiever in 2nd Quarter 2020 (Top 2% Company Level)
ERA Top 15 Achiever in April 2019 (Top 1% Company Level)
ERA Top 86 Achiever in Sept 2019 (Top 2% Company Level)
ERA Top 510 Achiever in Year 2019 (Top 8% Company Level)
SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.
Contact: (+65) 97432395
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
W: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D
**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **
-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --
I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.
-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
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
Most developments that are 30 years and older will be typically more difficult to sell due to perceived age and condition of unit and facilities. If its a 99 year leasehold property, financing one with balance lease of 60 years or less is even more difficult for younger buyers who will have their CPF and Loan pro-rated due to a shorter lease that may not be able to fully cover them to 95 years old. The buyer pool will shrink and become more limited and your future resale price may not be able to breakeven versus your entry price.
May I know which development you are looking at? Happy to compare the pros & cons of the options. 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
ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
ERA Top 91 Achiever in 2nd Quarter 2020 (Top 2% Company Level)
ERA Top 15 Achiever in April 2019 (Top 1% Company Level)
ERA Top 86 Achiever in Sept 2019 (Top 2% Company Level)
ERA Top 510 Achiever in Year 2019 (Top 8% Company Level)
SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.
Contact: (+65) 97432395
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
W: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D
**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **
-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --
I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.
-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
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,
I think most importantly, you will have to ask yourself, what is the reason for this purchase?
If your have very valid reasons for the purchase, then yes, you could consider it.
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
I think most importantly, you will have to ask yourself, what is the reason for this purchase?
If your have very valid reasons for the purchase, then yes, you could consider it.
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 Sir/Madam
I will need more information to be able to advise you
Which project and whats the asking price?
I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508 or Silviayang8@gmail.com
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.
Warmest regards,
Silvia Yang
Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com Read More
I will need more information to be able to advise you
Which project and whats the asking price?
I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508 or Silviayang8@gmail.com
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.
Warmest regards,
Silvia Yang
Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com Read More
Hi That is not ideal if your plan is to sell in 6-7 yrs time. Do contact me at 97970200
to discuss more on your options
Mark, your RIGHT choice
Propnex Read More
Mark, your RIGHT choice
Propnex Read More
Good day to you! I would be more than happy to assist you in the house purchase.
I believe property is a big ticket purchase and there are many details and information in the market that can be confusing. Rather than product pushing, unlike other agents, what I like to do is to go through the market sentiments with my friends and clients.
Topics such as
1. Over supply
2. How to time the market cycle
3. Most importantly, how the current situation in Singapore will affect the property prices.
4. Why today's market is a sweet spot where you will see 15% returns in the next few months.
Feel free to give me a call at 81255537 or email me anytime to set up an appointment with you (virtually) so that i can run through this with you. Thank you!
Warmest Regards
Thea
81255537
thea@theahoi.com Read More
I believe property is a big ticket purchase and there are many details and information in the market that can be confusing. Rather than product pushing, unlike other agents, what I like to do is to go through the market sentiments with my friends and clients.
Topics such as
1. Over supply
2. How to time the market cycle
3. Most importantly, how the current situation in Singapore will affect the property prices.
4. Why today's market is a sweet spot where you will see 15% returns in the next few months.
Feel free to give me a call at 81255537 or email me anytime to set up an appointment with you (virtually) so that i can run through this with you. Thank you!
Warmest Regards
Thea
81255537
thea@theahoi.com Read More