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Hi experts, need some advice regarding selling and buying. My current HDB 4rm flat has met MOP and is considering to sell and upgrade to either 5rm or EC. Combined income $5.5k and only $15k cash on hand. Remaining loan amt around $200K. Which is better option?
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4 Answers

Hi,

Based on the initial info shared, it does look like upgrading to a 5rm is more feasible but it be ideal if I can have more info so to make better recommendations personalized to your requirements. The important thing is still your motivations for the move, is it more for family reasons (get a bigger space) or is there an investment component in this move (to ride on potential capital appreciation and secure retirement after..?). Also, we need to look at the EC options available in your area, as after all, the supply of ECs already launched and upcoming are quite limited, and typically in the outskirts area.

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 ERA ASAP
(ASk Anything Property)
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Hi. In this case, you need to sell off your hdb in order to fund for your hdb or EC. Lets discuss in details. I have some options for you. I will run through the entire process and figures with you. I can be contactable via 91442664  for a detail chat.
Tricia Tan 91442664  Read More
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Dear sir/madam,

Moving to a 5room flat means a bigger space, while upgrading to an EC could mean downsizing in terms of space.

As such, why are you considering these options? There is no doubt that with current income, it could be possible to own an EC after selling your existing HDB, but financial wise, it could be a potential stretch if it is not managed properly. We will need to look into how much your existing HDB can be sold for before we are able to determine what could be the most feasible options financially as well as your objectives to see which is the most sensible option.

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Robbie Chen Chee Howe
Hi,

Based on the figures given, it is highly likely that you will need to sell your current flat first before you can commit to a purchase.

May I know what is your main objective of the upgrade? Is it to have a bigger space for your family? Or a change in environment for school purposes? I will need to know your needs and objectives before I can propose to you the options available to you.

Lastly, do take note that you will need to plan your timeline to ensure you will have a smooth transition to your new place.

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 and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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