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Hi, is your EM fully paid off? based on rough calculations, the amount that you will have available for purchase is around $1.5mil to $1.8mil. What are your plans moving forward? Will the next purchase unit of yours be a retirement home?

Firstly for both BTO and resale 5-room, you will need to apply for an HFE.

For BTO, you will have to apply and see if you manage to get the unit, which depending on your luck, will either be a long wait or you might even get it immediately. This option will usually mean that you will be staying in that unit for many years to come. Currently, the average wait time for it to complete building is around 4years, after which, the unit in a better location will have around 10years for MOP. This means that you will be with the unit for at least another 14-15years. This is the cheapest option out of the 3.

For resale 5-room, you may be able to do a purchase, and depending on the location, there may or may not be left over cash after doing so, the good thing is that most likely you can fully pay it off. However, this option is mainly for retirement and your unit to stay in for a long time, as usually such units have slightly lower appreciation chance.

For a 3-bedder condo, it is a lifestyle upgrade, which will provide you with more facilities and depending on location as well, you may or may not need to get a loan to purchase one. However, for newer units and those in better location, a loan will definitely be needed. There are also other options to this 3bedder unit, which is dual key units, which allows you to rent out a studio for some rental income while staying in the other.

By the way, is it only the two of you staying in the unit?

Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

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Landon Chew
97 39 60 40
landonchew@email.com Read More

Dear Owner,
Private apartments appreciate faster than HDB in the longer term. However, HDB appreciates faster in the shorter term. Looking at your income, you still seem eligible to apply for an EC. EC's are privatised after 5 years. So, my suggestion would be to buy an EC (which is a much cheaper way to buy a condo) and then, in your golden years sell the EC to downgrade for a more comfortable retirement. So, you get the best of both worlds.

There are a few nice EC's that have been launched recently.

Please contact me so that I can be of further assistance.
Cheers!

Elan Govan
MABA (Lancaster)
 90170747 
jayelan@gmail.com
www.goodpropertiesguide.com Read More

Hi,

It depends on your objectives for the next place. Are you planning to cash out so to have more security on the retirement? Do you plan to take a long break from work soon? Or do you plan to try make another round of capital gains through property so you can leave more for your next generation?

Above questions will provide us with more direction on the next step. For the three categories of housing mentioned, I share some brief inputs below

Firstly, if you are 2nd timer applying for BTO, the chances of getting the unit are not high since priority is given to the first timer group. So its much luck involved

For resale HDB, again the above questions will help us understand whether this makes sense. Do you have a big family whereby space is important? Because if you go resale 5-room near where you are, chances are a decent one can be priced 750k - 900k range, which does not really help you cash out much.

Going for condo has its risks since you are in your 50s and purchasing with sole income. If the savings buffer are strong and or the kids already working, this may still be an option worth exploring. Have you considered new EC?

Hope the above clarifies. I have worked with clients in similar situation and am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

Ivan Ng Realtor
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Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers!

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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. Have a good day ahead. By the way, if your budget allows, it is always advisable to go for a private property.

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

Hi, appreciate your sharing. It depends on your current plan, whether can you await for BTO or sale of balance. Or require the place for family or near school.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Dear sir,

I do not think there is a standard answer of which is a better option. Critically, while we know of your age, monthly income as well as the potential selling price of your existing place, we will also need to establish the financial baseline for your purchase, thus important information like your existing cash and CPF funds available for use in the upcoming purchase as well as if your current place has any outstanding loan, will be required.

As to which is a better choice, my guess will be what your objectives are within the mid to long term goals are for this move. BTO option would be seen as the least favoured for me personally, as this will be a result of luck given that you are not 100% sure to secure a unit through the BTO exercise.

In personal capacity, I will likely go for a resale 5 room flat option with reasonably fresh lease, as a retirement home and considering that its lease is still relatively fresh, even moving ahead for another 30 years, it can still be passed down to my children. This is probably the safest option, however if I have an eye on growing my assets and also potentially passing down these assets which are good performing assets for my children, I will got for a private resale unit, while my family will be able to enjoy the facilities that comes with the development. The only downside about it is that I have taken on a bigger risk and I'd hope that I am in this position when I am younger, say in my mid 30s or early 40s.

——

I have been in the real estate business since 2009, with more than 14 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.

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Good day to you,

There are multiple missing link that need to be fulfilled before I can provide you with the appropriate advice:
1) What is the mortgage status of the unit?
2) What is your current OA balance?
3) What type of lifestyle are you seeking, after the transition into the new property?

Do feel free to contact me for detailed discussion.

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I offer in-depth knowledge in:
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Mike Lim
 96929209 
R026708F
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ERA Read More

Hi Sir,

In my opinion, you should consider either a BTO or a 3 bedroom condo which is within your comfortable budget. A 5 room resale flat may not be the best option because resale flat is at an all time high now.

For BTO, you will be able to get a lower price but the drawback is that there is a waiting time of 3 to 4 years. As for the condo, buying a good project is like having an asset and the value will continue to appreciate in the future. Based on the preliminary information that you have provided, you should be able to take a loan of close to 600k and together with the profits from the EM and your CPF, you should be able to afford a 3 bedroom condo.

However, it is still important to do a proper calculation and some planning first before you can determine which is the best option for you moving forward. Please contact me privately so that I can gather more information from you and do some analysis before I can advise you better!

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
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Judy Rong (Seller) Dec 2023 Read More

Hello,

Here are some options to consider for your situation:

- **BTO**: While more affordable, BTO flats come with a waiting time of about 3-5 years. Given your current stage in life, this might not be ideal if you prefer to move sooner.
- **Resale 5-room HDB**: Offers immediate occupancy and space, and can be more affordable compared to condos. It also provides stability if you're looking for a familiar HDB lifestyle.
- **3-bedder condo**: A good option if you’re seeking a lifestyle upgrade and potential capital appreciation. However, the monthly costs, such as maintenance fees and higher property taxes, should be considered alongside your future retirement plans.

Thank you.

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### Home Financing Options

1. **Current Situation**
At 50 years old with a monthly income of $8,000 and your wife as a homemaker, you have a stable financial base.

2. **Property Value**
Selling your executive maisonette (EM) valued at around $1 million gives you a good amount of capital to work with for your next purchase.

3. **Options to Consider**
- **BTO**: Typically offers a lower entry price but comes with a waiting period.
- **Resale 5-Room HDB**: Provides immediate occupancy and potentially more space for your needs.
- **3-Bedroom Condo**: Offers greater amenities and lifestyle options but may come with higher costs.

### Recommendations
- **Evaluate Needs**: Consider your long-term goals, such as space requirements and lifestyle preferences.
- **Financial Planning** explore how each option fits into your budget, especially regarding loans and future expenses.
- **Market Research**: Look into current market
trends for each option to make an informed decision.

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