AskGuru Q&A Community

Hi;

Happy CNY ! Yes, most of the tenant do not take care of your unit for you and do expect the condition to be 'different' from what you currently have now.. There are pros and cons in being the first few to sell your unit upon MOP.. Do feel free to drop me a line for non-obligatory discussion. Would be more than happy to share more with you before you decide..

Rgds;
Lyna Song
 9623 8442 
lynasong@hotmail.com
Associate Group Director
Propnex Realty Pte Ltd Read More

Hi,

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. By the way, we could advertise for both selling and rental and just accept the one with the highest offer.

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

Good afternoon,

Happy to explore the next move in detail and share the pros & cons in doing either scenario. You do have a point that being one of the first few units to be listed for sale in the newly MOP hdb estate, they tend to be able to fetch higher prices as the buyer pool is bigger. With the right pricing and marketing strategy, its possible to get good pricing outcomes.

I have sold a 22 year old 5-room flat at Toa Payoh at a record price for the whole block @ $1.065mil , $105k more than the highest transacted in the same block. Happy to share more on how we can achieve similar results for your property and explore potential collaboration on the same.

https://www.zaobao.com.sg/news/singapore/story20211202-1219213

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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ERA Top 510 Achiever in Year 2019 (Top 8% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
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**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 Sir,

Happy CNY to you! And congratulations on meeting your MOP soon!

As for your dilemma, I fully understand your situation. As this is your "first matrimonial home", and that you spent a lot on renovation, you will not bear to watch the house being misused by the incoming Tenant. And just to pre-empt you that the day you decide to rent it out, you cannot expect the house to be in the same immaculate condition when you take over the house after the Tenancy. There are bound to have repair works needed if the house is being utilised.

If your plans is to sell the flat eventually, which you had mentioned too, then I would advise you to sell the flat upon your MOP, instead of renting it out.

Reason is because, as your flat is in immaculate condition, and has just met its MOP, you will be able to achieve a very good price, especially so as you mentioned that the flat is well situated and on the top floor. It does seems like the flat has all the relevant attributes to qualify as a "million-dollar HDB flat".

Having said that, I strongly suggest that you also have a plan after selling the flat. Because if you have no other plans after selling, then I would suggest you to rent it out and enjoy the rental income instead. As a Singaporean, I strongly believe that we must have a stake in Singapore's real estate.

Personally, I had transacted 9 "million-dollar HDB flats" over the past few years, the last being a $1.23m 5-RM flat just a few months ago. It was sold with $165k COV. I had also sold a Tampines EA flat a couple of months back at $950k, with $120k COV. I am currently also marketing an EA flat in Bishan, asking $1.3m. Expected COV should be in around $200k.

As you can see, I specialize in "high quantum" HDB flats, and I believe your flat falls into my specialization. I am very confident to be able to set an astounding record breaking price for your flat if I'm given a chance to work with you.

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

Hi
In my humble opinion, it is a wise move to sell now taking into account the current regulations. You are right when saying the 'home condition would not be the same' once rented out. In my experience as an agent, tenanted HDB units condition are generally bad and you have to lower down your expectation on the upkeep part once you rented it out. But the 'fear of house condition' is not the only factor to consider whether to sell or rent. Since you fully paid for your flat and assuming you use CPF to finance it all this while, your principal CPF usage plus accrued interest will continue to increase in the coming years. This means the longer you wait, the more you have to refund back your CPF from your sales proceed. This will result into you getting lesser cash proceeds the longer you took to sell away your house. With cash, you can choose to invest or spend in whatever way you want but the same cannot be said for CPF. In the past, many people did not sell off their HDB and choose to rent it out. They will later proceed to purchase a private property without selling their HDB financing their monthly mortgage with the rental income they received. However this option is no longer attractive as the government have introduced and keep increasing ABSD rates for purchasing a second property. The current ABSD for buying a second property for Singaporeans is 17% which makes this a very expensive option. If you are thinking of decoupling (one partner withdraw ownership and then purchase a private property solely), HDB does not allow this practice unlike private property owners. Therefore if you are having thoughts of purchasing a private property in the future, you still have to sell your HDB sooner or later. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
CEA Reg No: R061607B
Marketing Director
ERA Realty Network Pte Ltd
Contact No: 93375051  Read More