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Hi there,

I would be glad to assist, analyse the options for you based on your profile and requirements. You may contact me via whatsapp at 94507283  .

Gary Shien
 94507283  Read More

Dear sir/mdm,

All HDB flats will have similar fate if they are not shortlisted for SERS or VERS moving forward. Given that you have another 20 years loan to pay off, it is indeed an appropriate time to look into right-structuring your asset, especially so with a decaying lease for your current property. Key considerations will be the financial aspects, that if you were to purchase a similar sized unit, will it be comfortable for you to undertake a bigger loan amount? Will you lifestyle be affected by going for a smaller but newer unit instead in order to keep the loan size similar as current?

What are you ultimate retirement plans? Do you intend to leave the property behind for your love ones? There are many ways to monetise a property, and given that you are single, 1 of the option you can take is to rent out the bedrooms if you decide to stay, where you can be able to generate at least $1200 per month onwards to help with living expenses and etc.

It is not necessary to sell an older flat unless you have specific plans moving forward.

I have been in the real estate business since 2009, with more than 13 years 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.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
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My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes I do understand your concern and in your case, you may like to consider downsize to a newer 3 room flat or go for a smaller condo unit.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Good afternoon,

It depends on the location and size of the property as well, although naturally speaking a property with 40 years balance lease will be relatively less appealing than one with that is newer and have less demand, which means there is a chance the property could be sold at a lesser valuation that it can fetch now.

Whichever option you have brought up works best depends on how your projection of your income and lifestyle levels in the next 10 to 20 years, and what is a comfort zone in terms of housing monthly repayment. I would think recycling the funds from the sale proceeds for better performing newer assets that can preserve value will be better, so naturally option 3 should be ruled out.

As for which option works better, I am happy to hear more info and details so we can find out the optimal approach.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

SEAA Salesperson Achievement Award 2021 (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)

ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
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Hi,

I see that you had thought through your options. I shall say whichever option you choose will depends on your risk appetitte.
Below I will list out all the pros and cons I could think of for your consideration.

1) This option is in the mid range in terms of risk. Buying a newer 4-rm flat will definitely fetch a better value compare to your current flat. Though not necessary in a mature estate since the price is much higher in these prime areas.
Although you heard a lot of price increment in the past 2 yrs, but the actual growth of HDB resale price index (PI) is not really what you are aware of.
Let look at the figures below:
(i) The past 10 yrs HDB resale index (2011 Q4 -> 2021 Q4) was only 9.4%.
(ii) The lowest point of HDB resale PI (2019 Q3 -> 2021 Q3) was 15.1%.
(iii) Using the last peak of HDB resale PI was at 2013 Q2 (149.4), the growth was only 0.8% (2021 Q3).
So you may see that the growth of HDB could range from 0.8% to 15.1%.
These figures might give you a better understanding of the trend than just random hearsay.
The newer flat would enjoy higher price growth comparing to the older ones.
The best of this option is you can apply for a 2-rm flexi BTO at 55 yrs old. And you could retrieve the capital appreciation growth when you collect keys before reaching 65 yrs old.

2) This option has the highest risk since the quantum of investment is highest. However the growth is also more substantial compare to the HDB flat. Especially when the quantum is much higher compare to HDB flat.
(i) The past 10 yrs Property Price Index [PPI] (2012 Q2 -> 2022 Q2) was only 17.6%.
(ii) The lowest point of PPI (2017 Q2 -> 2022 Q2) was 27.3%.
(iii) Using the last peak of PPI was at 2013 Q3 (154.6), the growth was only 12.5% (2022 Q2).
Using this option, you can buy a resale HDB flat in order to reap the appreciation achieved.

3) Lastly by employing this option, you will have to calculate how much you could gain in with your existing saving in your CPF account.
But I don't think you can fetch much since your funds in OA should be quite low since I believed you are using it to pay for your monthly mortgage.
The advantage of this option is you don't have to actively do anything but just wait till you reach 55 yrs old to apply for the 2-rm flexi flat.
Same like option (1), you can reap your appreciation before reaching 65 yrs old. Except that your HDB flat will not able to fetch as much as option (1).
This is the most conservative but the safest option.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi,

I understand your concerns. I wish to tell you that there's no right or wrong answers, as everyone is different and can have very difference objectives, risk appetite and retirement plans.

Perhaps you could share more with me via WhatsApp? I think it's only fair to you that I understand you better first, before giving you any recommendations.

I am experienced and well-versed in both HDB and private 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