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Hey, I am a SPR and planning to buy a condo, but there are uncertainties for my case, since I am single, I am seeking your advise on the purchase.

Here are some my thoughts:

1) Walking distance to MRT or future MRT station.

2) Not shopping mall project, NOT too close to above ground MRT stations, prefer relatively quiet neighbor.

3) New launch or 2nd hand.

4) Buy one bedroom for my own stay for now, can sell if I am married later and have to buy a bigger one, or rent it out it.

5) Buy two bedrooms, one room for my own stay, 2nd room rent out.

6) I can afford 1m apartment, also checked with the banker, not a problem with loan, but the lower the better.

7) Other factors to consider: cost effective, psf price, management fee, potential, resell.

Your advice is highly appreciated!
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4 Answers

Let's be focus and draw out the checklist in order of your priorities, seperating the needs and the wants clearly. It is unlikely that you are able to find the perfect solution, because the perfect solution usually comes with an imperfect price tag.

I am not going to do sales talk to you telling you that I have recommendations even before I know what you actually require. I can guide you through the process of identifying what you need and what you think you need before embarking on the journey of home hunting, which I think will be more fruitful.

Let me know if we can have a short 20minutes discussion in private perhaps?

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Regards,

Geryl LIM
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Dear Sir/Mdm,

1. Preferably walking distance to an existing MRT since for future MRT, prices would have been priced in already and you will need to live with the inconvenience and/or noise in the meantime during the construction period.

2. Some buyers prefer new launch to older development as they do not need to worry about the maintenance issues that comes with older project. Tenants and potential buyers are also more attracted to newer projects due to the facilities and nicer landscaping.

3. Your budget is around 1 mil and I will recommend a 2 bedroom so that you can rent out 1 room to offset the mortgage payment. 2 bedroom will be easier to sell in the future as you can either sell it to another investor, HDB upgrader or a small family.

4. There are many options in the market currently and therefore buying the RIGHT product is the most important. I will suggest you buying an area with a reasonable PSF price and a growth story so that there is higher upside for future potential. It will be ideal if the development is completing in the next 1-2 years so that you can move in or rent out soon to generate income.

I have some recommended options. Please feel free to contact me so that I can understand your needs and objectives better so that I can assist you further!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

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Robbie Chen Chee Howe
Hi,

I understand you predicament on whether to get a 1-bedroom or a 2-bedroom unit. I may be able to help you in your decision with the following points:

1) As a PR, you will be liable for a 5% ABSD.

2) Seller Stamp Duty (SSD) period is 3 years.

For the above 2 points, do you foresee yourself getting married in the next 3 years? If so, you should go for a 2-bedroom now. Even if not, you should still go for a 2-bedroom.

However, I would think the best case scenario for you would be to go for a dual-key unit. This way, you get to own an apartment with 2 bedrooms, and yet has all the privacy to yourself. In future, should you choose to rent the unit out, you can rent out to 2 separate tenants to get 2 x rental.

Should you need any 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
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Mani Subramanian Veeramani
Dear,

Our fellow agents answered you very well.
So, what’s next?!

Read these useful posts...

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https://www.linkedin.com/pulse/download-mortgage-guide-101-mani-subramanian-veeramani

https://www.linkedin.com/pulse/new-launches-2017-mani-subramanian-veeramani

https://www.linkedin.com/pulse/condo-guides-101-mani-subramanian-veeramani

There is so much other important information that you should know…
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