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HI
Current situation
Stay in yishun 5Room fully paid HDB ( estimated valuation 350K. I am thinking of buying a resale condo, but looking at the situation, maybe i could only afford a 20 years + condo.

i am 47 and wife is 45. Both are working.
total income about 12K. CPF ordinary is about 200K and wife about 100K.

We wanted to buy a 4room condo because we have 3 kids and hopefully near mrt for convenience.

i am looking at yishun emerald or saphire. We are not looking at it as an investment but more like place to stay. Many friends advise against buying because its old and will have many problems.

question, any projections on the price of the condo after 10 years ? thanks
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11 Answers

Good afternoon,

May I know if you are planning to purchase as a 2nd property, or an immediate upgrade? For 20+ years old 99 years leasehold condo, typically the property will be tougher to exit at a higher price when you sell it next time 10 to 20 years later unless its an enbloc sale.

From past client experiences, chances are, when the kids start to settle down and move out to start family, you would probably want to right size to a smaller unit 10 to 20 years later. It would be a bit tough to do so if the exit price is not able to justify the move in the future.

Perhaps we could discuss further so to understand your plans and requirements in detail? 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
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-- 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.

-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --

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. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.

We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service.

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Ivan was the first and only agent that we met before engaging him as our exclusive agent. At the first meeting, Ivan meticulously went through the entire sale process. As we were not familiar with the procedures, he spent extra time to explain what was required from us and what we should expect.

After a week of preparation, Ivan came to take photographs, and once the advertisements were up, we had interested parties coming to view the apartment the very next day. Within a week, we had secured an offer from the buyer. Ivan was reliable and responsive, and he made the entire process smooth and hassle free Read More
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Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi Sir
While nobody can predict the exact price of the condo in 10 years time, it is generally not advisable to purchase a leasehold condo that is more than 20 years old as the tenure is becoming lesser thus affecting the price. Besides the length tenure left, other factors affecting future price includes general economic condition and government policy at that point of time. Do note if you are thinking to use your cash proceeds from sales of your HDB to finance you plan condo purchase, it is highly advisable you sell it as fast as you can as your accrued increases every year. Based on you and your wife financial profile, it seems both of you can more than afford to purchase a private property and finance it comfortably. Do contact me at 93375051  for a free and non obligatory discussion on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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Hi Do contact me at 97970200  to share the projections and discuss more.

Mark, your RIGHT choice
Propnex Read More
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Hi, allow me to share with you what can you do in current market. Stewart-PropNex 9696 4398  Read More
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Robbie Chen Chee Howe
Hi Sir,

Many Singaporean families have the same dilemma as you, having kids and looking to upgrade to a bigger house.

Generally, if you're looking to purchase for your own stay, your purchasing priorities should be as follows:-
1) location, near to you or your wife's workplace or children's schools or parents place etc
2) unit size, whether it is sufficient to accommodate your family

Price projection and profits would be the least of your priorities, as like you mentioned, it is not an investment. Hence, you should not expect investment returns from it.

However, having said that, I believe nobody will like to purchase a depreciating asset, and end up making a loss in the future when you decide to sell it off. In a way, your friends also has a point that older developments do have their own problems.

I believe some older developments still can be considered, but not all. I will be happy to share more with you on my analysis on this matter.

I am experienced and well-versed in both private and HDB resale 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
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YT Tan (陈永达)
Good afternoon Sir,

I doubt anyone is able to predict the pricing in 10 years time but there are facts that you can use to gauge.

There will be loan and CPF restriction if the property cant last buyer till 95 years old which means that you cant stay there for too long if not you wont be able to find a qualified buyer or you cant sell to buyers who are too young.

Secondly I dont totally disagree with what your friends had advised as they are not totally wrong. Their opinion will be as if they are objections from your buyers in 2020. What do you think what will be the objections in 10 years down the road?

And of course other than finding the suitable unit, you have to make sure you are financially capable to afford it. Looking at your numbers, those two projects definitely will be within your affordability and i think you can afford slightly more than it.

No one will wish to buy a property that will depreciate in value. Perhaps we can discuss further so I can understand your situation, needs and concerns in depth in order for me to find a better proposal to your family.

when will be a good time to zoom or call you guys?

#staysafe

YT TAN 陈永达 | ACCA Graduate, RES
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Propnex Realty Pte Ltd

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Hi

You may text 9620 0827  for a casual chat. Although you provided some numbers, we would need to understand better your requirements in order to explore the various property option. We can share with your the transaction process for the various property option, transaction process and timeline.

Gavin Read More
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Dear sir/mdm,

Key in purchasing an older resale condo lies in the price which you are purchasing. As 4 bedrooms units in resale market constitutes to the smaller bulk of supply, this can actually be a good hedge in terms of value in future. Key sustainability lies alot with the future developments in the locale, as resale prices are hedge relatively closely to new launches in the area, which is a reason why value of private homes in newer towns like Sengkang and Punggol are still rising despite the supply situation overall.

If you have no plans to sell in future, the collective sale potential will also be a good exit point consideration, given that unit sizes in older developments are usually bigger, which allows developers to further intensifying the developments, however, if you are looking at the 10year perspective, chances of growth and making a profit will be relatively lower unless you are able to secure a unit that is significantly lower than the existing price line.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Hi Sir,

It is not advisable to buy an old condo from an investment point of view because value of the condo tends to depreciate with time after a certain mark as the condo gets older and the potential pool of buyers get smaller. However, you may also want to weigh it against the practical point of view because you wish to upgrade your lifestyle and buy something which is comfortable within your budget.

I am happy to show you the projection of the prices of the condos in Yishun area so that you can have a better understanding. Upgrading involves a lot of planning in terms of the timeline and finances ie cash flow.

Please feel free to contact me so that I can share more information with you and also understand your concerns better so that I can customised an upgrading plan for you. I am also available for discussion on Zoom during this circuit breaker period.

Regards,
Nick Tan
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I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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Hi Sir

I will be glad to assist

I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com
or click here http://bit.ly/2tzIQ1a to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
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