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Hello to all
I am working full time while my hubby's income is based on commission and I have one unemployed sister who is not married staying with us. We have no children.
We are thinking of purchasing an EM costing around above $500k but my relatives and friends advised us to take smaller unit instead. I am in mid 50s and my hubby is in late 40s. After selling our current hdb, we would have about $200 cash.
Any advice from you? Thank you.
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4 Answers

Morning,

With your current age, it would be advisable to purchase something where you do not need high loan to upkeep. If you are looking at purchase of $500k and you can only have $200k cash after sales of your current unit, we will need to know how much CPF you are getting back as well. For most elderly buyers, getting EM will not be physically viable as you age.

Do contact me further should you require additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi,

It may be prudent to get something where the monthly mortgage repayments are more comfortable, as the house will see you into your retirement age. It will be appreciated if I can have more details so as to draft up a financial plan to understand your requirements better.

From a limited info perspective, an EM may be tedious for an elderly couple in the future as the stairs may become tedious to manage, and the unit size may require more cleaning. Thanks and hope to discuss further and assist your housing plans.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
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YT Tan (陈永达)
Good morning buyer,

Great hearing from you!

It will be good to do a financial calculation with me first to see what's your affordability and your comfort level of the monthly mortgage repayment.

But what's your intention/ reason that you are keen to move into an EM?

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More
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Hi,

Thanks for your query! What's most essential in the upgrade process is the - financial cash computation and calculations. In these cases, it's always best to have a professional work out your financial cash projection, generation of sales proceeds and factor in the likely purchase price so that the process is smoothly facilitated and ensure you a tidy profit. Sometimes, being rookies and unfamiliar with the overwhelming process, a slight wrong decision can lead to paper loss and even actual loss! This will enable us to figure the feasibility of your intentions and objectives.

What's also to note- in this weak market where resale units pricing are falling and are left on the shelves for months. Do you have the right medium to expose your property to throngs of prospects? Do you understand the own value of your house? Do you understand the valuation and exact transaction/sales in your block and surrounding vicinities?

All these play a part in ensuring you reap your profit and at the same time, enjoy the best of both world's. As agents, we have all the tools, skills and marketing strategies to help bring light to your plans. Sure there is a small fractional cost involved, but think about the thousands of dollar you can make on your sales and another thousands of dollars you can save on your purchase with the due diligence and negotiation skills of your agent. We represent your needs and fight for YOUR price! I always advise my clients to have a preliminary discussion to derive more information and requirements as well as share more on the market insights/ comprehensive marketing strategy of unit as well as take this as an opportunity to understand my working style.

You can always asses my proven track record and recent coveted awards & testimonial on my website to ascertain the commitment, dedication and integrity I uphold in representing my client's welfare and interest to get them the best possible deal.

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com

#1 team of ERA in Singapore, Asia Pacific International for 2014.

ERA 2015 Q1 Top Achievers (Top1% of ERA)
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group
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