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Hi Eunice,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead.

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

Hello Eunice
looking at your numbers, you are actually quite healthy in terms of your savings and both combine income level.

Let me know if you want to walk thru your numbers. whats apps me @97508318 or email me at silviac@singnet.com.sg

Silvia Chua
ERA Realty Network Pte Ltd
Senior Marketing Director
mobile 97508318  Read More

Hi Eunice, both your concerns are valid. There are a few factors t consider, location, property of choice, size, etc. Do contact me at 97970200  to understand more and discuss on your options.

Mark, your RIGHT choice
Propnex Read More

Hi Eunice,

Just did a quick calculation for your case and the estimated sum looks very very healthy.

Kindly contact me for a non obligation discussion at 9726 1112  I would be glad to assist you further. I will be going through with you the financial calculations as well as the timeline to make sure you will have a seamless plan in your asset progression journey.

Thank you and best regards,

Jenny Tran
ERA Realty Pte Ltd
whatsapp: wa.me/6597261112
email: tranjenny86@gmail.com
Website: www.jenny-tran.com Read More

Hi Eunice,

Based on the number provided by you, both income together should be able to support a borrowing of about $2.3 mio.

Having noted your concern of overstretching, you should be able to buy a private property of about $2.0 mio or there about with a borrowing of about $1.5 mio. The above information is taken on an assumption and estimated of the CPF fund refunded to your OA account.

You may text 9620 0827  for a casual chat. We can go through the financial and share the transaction process and timeline.

Warmest regards

Gavin Read More

Hi Eunice,

Based on the info shared, some quick estimates, assuming the 4room is sold around 500k, you should have approx 350k funds back.

Total OA now is approx 140k, total savings approx 220k.

So total funds available is approx 710k.

Based on your income, age and no other loans, assuming you sell off the HDB, you should be able to loan up to max $2.3mil for 27 years loan tenure, which opens up to a number of options for 3 bedrooms.

To mitigate the risk, I would suggest to set aside a pool of funds from the 710k aforementioned so as to buffer for 1 or 2 years worth of monthly mortgage payments. It also depends the amount of monthly mortgage you are comfortable servicing.

Newer freehold typically commands a higher entry price over the comparable 99 year leasehold, if all things are equal save for tenure. It is not necessary that freehold assures you of a higher exit price and returns when you sell, because a part of it depends on your entry price and holding period. Some 99 year leasehold condos in fact outperform freehold ones in the same district.

I am well versed with similar portfolio planning from hdb to private property transition. Happy to share the best way forward on which route works best for your next plan.

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)
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We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. Read More

Hi Eunice,

You and hubby are in a good position to consider the upgrading and these are the reasons why:

1. Both of you are still young and will be able to take advantage of loan to purchase a condo. The max loan size based on your age and income is about 2 mil but you do not need to take the max loan. It is advisable to purchase something which you can afford comfortably.

2. Condo is a good hedge against inflation as compared to HDB as HDB prices do depreciate as the balance lease gets shorter. Both freehold and leasehold condos are good investment options and generally good projects do appreciate over time and you may treat it as a forced savings for your retirement.

3. Having a well thought out upgrading plan will ensure that you do not overstretch yourself and at the same time be able to upgrade your lifestyle while sitting on an asset that is able to appreciate with time.

Freehold is better than leasehold is a misconception and I will be happy to share with you more on past data and share more insights with you. I have assisted many of my clients who are in the same situation as yourself to upgrade smoothly and seamlessly from a HDB to a condo. Please feel free to contact me so that I can understand your situation and objectives better and provide you with further assistance.

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 Wong (Property Seller) Read More

Hi Ms Eunice,

According to your current situation, I'll do a simple asset financial analysis:

1) Household income = $13k + 5.4k = 18.4k, TDSR = $2.3 million. Meaning if you don't have any existing mortgage loan, your maximum loan quantum is $2.3 million.
But if have an existing mortgage loan then your maximum loan of 75% will be reduced to 45%, which is $1.38 million.
2) If you are keeping your current HDB and buy private, you will be subject to an ABSD of 12% (216k). Assuming you are both SC.
3) Combined CPF OA = 85k + 55k = 140k, cash = 120k + 100k = 220k.
4) To buy a 3bdr estimated $1.8 million, you will need 5% cash = 90k, 20% = 360k (this can be CPF and/or cash).
5) Thus you still have a short fourth of 90k if you decided to keep your current HDB ti
6) The obvious solution is to cash out from the current HDB, according to the current market, your 4-rm HDB at Achorvale should be able to fetch around 650k.
7) After deducting off the outstanding loan, your sales proceed (CPF + cash) should be around 500k.
8) Use this amount for your 20% downpayment and buyer stamp duty & legal fees. The rest of it will be more than sufficient to service mortgage loans for at least a few years. And you still have cash savings of at least 130k.
9) From this basic analysis, it is advisable to sell HDB first before buying for upgrading.
10) Otherwise, with ABSD incurred, although can apply for remission, your choice is not only limited but your current cash flow and CPF saving is also insufficient to move anywhere.
11) We may discuss more on FH and 99 leasehold property if you are keen to know more.

Hope the above answer to 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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Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly. Read More

Hi Eunice,

Based on the initial figures that you stated here, it does look like both of you are in a good position to upgrade from your HDB flat.

Your Husband's plan to upgrade to a Freehold 3BR condo does seem to be a good plan. However, in my opinion, there may be some other options which I think you could explore too.

As you mentioned that you know nuts about Investments, you may not have thought of it, or missed out this option entirely. Do let me have the opportunity to meet up with you and your husband for a detailed explanation.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

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