Hi Lene,
1. I would suggest you to keep the condo as if you were to sell it, you would incur Seller Stamp Duty of either 4% or 8%. It will not make financial sense. Moreover, if your parents were to sell this property, it is likely that they will not be able to purchase another property due to the new rules restriction and also their age not being able to take a long loan tenure.
2. As for the HDB, I would suggest you to keep it. As it is near MRT, you will be able to enjoy a good rental yield as it is near to the new waterway point and MRT. It should be able to generate a pretty decent passive income for you.
3. Alternatively, if you wish to cash out, it may not be a bad option as HDB prices has stabilised. The government has also announced today that more flats will be built in non matured estate such as Punggol in the near future. There may be limited upside in terms of price appreciation in the near term. It may be wise to cash out at this point of time.
4.If I am in a similar situation, I will purchase a private property to stay and rent out the HDB to generate a steady stream of passive income. For slightly over 1 mil, you can get a decent 3 BR in the east. I am currently marketing one such unit, you can refer to the link to get a rough idea:
http://www.propertyguru.com.sg/listing/19612614/for-sale-tanamera-crestPlease feel free to contact me at
9644 4854
so that I can understand your situation and provide you with further assistance.
P/S: You can write in to appeal regarding the MOP period!
Regards,
Nick Tan
(M)
+65 9644 4854
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg / nick96444854@gmail.com
(W) www.nick-tan.com / www.propertyavenue.com.sg
Testimonial from Satisfied Clients (2015/2016)
“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 from Property Avenue 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)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted 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 of HDB)
“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 of HDB)
“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)
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