AskGuru Q&A Community

Hi, Congrats on reaching the MOP soon, Time flies, isn't it?

A lot of people will say it time to sell and upgrade to condo. But is that the really only way?

What matter for me most is to ensure your comfortable affordability. In this case, we need to do a detailed planning especially see what is the proceeds you can get from selling of the flat and as well as checking if your budget (including the proceeds from the sale of your HDB) can purchase a condo.

Timeline is also very important because we need to ensure a smooth transition from one place to another place.

Last but not least, is it feasible to upgrade to a condo based on your current family situation?
For example, you are comfortably staying in 5 room HDB which is usually around 1184sqft. What if your budget don't allow you to get a bigger unit but end up with only a 2 bedder unit? Are you prepared to accept this especially if you have kids?

Investment aspect might work same but different so it good to have a good discussion.

Feel free to contact me if you have any further questions.

Thanks!

Alan Sng
ERA Read More

Hi, congrats on hitting a milestone and possibly having the opportunity to cash out on your first property gain.

Before you jump onto the bandwagon of selling your HDB and upgrading, there is a few factors to consider.

1) What are your plans regarding future family growth? Are you planning to have more kids and what size will be more suitable for your family? Typically when you are planning to use the gains in proceeds from selling a new MOP unit, you will usually have to opt for a smaller unit or top up some more cash for a condo.

2) How much budget are you looking at when considering this upgrade? Do you plan to purchase two condo units, whereas one is for stay and the other is to be rented out?

3) Other than resale condo in the market, I have assisted a few families transition into a EC instead, which is a much more affordable alternative with a potential and more capital gain.

I am available to provide you with more opinions if you ever need one. Do reach out to me.

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
 97396040 
landonchew@email.com Read More

Hi,

I think a good question to start with is what objectives are you looking to achieve in making this move to private property? Some of my clients have aspirations to upgrade their lifestyle while having a 8 to 10 year exit timeline once the capital appreciation is there, so to secure their retirement by right-sizing back to HDB after. Others are for more practical reasons to be near loved ones, certain schools for their young ones, and to hold for certain timeline for capital gains and plan again thereafter. There is no right or wrong. Suggest also to sell off the HDB first before buying, otherwise the ABSD of 20% upfront can be a hefty sum, while also restricting your loan amount for next property to 45% if you still have existing home loan for current property. If you still qualify for a new EC, it is a good option to look at because EC is still 20% to 40% cheaper than a comparable private condo, and can still appreciate in the future as the surrounding area develops.

Look forward to chat and discuss more at 97432395  . I have helped various homeowners to do the same and will be happy to share more.

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)
ERA Top 11th Achiever in June 2020 (Top 1% Company Level)
ERA Top 91th Achiever in 2nd Quarter 2020 (Top 2% Company Level)
ERA Top 15th Achiever in April 2019 (Top 1% Company Level)
ERA Top 86th Achiever in Sept 2019 (Top 2% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
Whatsapp: wa.me/6597432395
Email: Ivanng10@gmail.com
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(Client's Testimonials)
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**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- 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.

EC Seller Mr & Mrs Siah

We have had a positive experience with Ivan throughout the sale of our EC. He is a very responsible and helpful agent. He managed to sell our EC within a month, which exceeded our expectations. He has gone the extra mile to ensure there are interested buyers viewing our flat every weekend, and has provided frequent updates on the progress. On top, he has provided valuable advice in our property planning journey. He is someone who listens to the needs of his clients, but at the same time value add by adding his own perspective and insights to what works the best. We are very grateful to have him through this sale, especially since this was our first time selling our EC Read More

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, firstly will be to work out on the loan so that you will know what’s your budget like and the monthly bank loan to be paid in the event of upgrading to the next property.

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

Hi,

Congratulations on meeting your MOP! Your first pot of gold is soon to be realised!

There are plenty of options in today's market, but having dealt with many clients upgrading from HDB, I can say that there's everyone's objectives as well as risk appetite varies.

There are clients who wants an upgrade in lifestyle, or a change in location, or to a bigger apartment. There are also clients who are looking at an investment component by growing their property portfolio. I'd say there's no "one-size-fits-all" solution.

Perhaps we can arrange for a meet-up to discuss on this matter? This meet-up will allow me to get to know you and your family profile better, which in turn allows me to suggest more appropriate plans which is catered to your personalised profile.

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 +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More

Hi Sir/Mdm,

A lot of my clients upgrade from a HDB to a condo after the MOP and made use of the sale proceeds from the HDB to upgrade and climb up the asset ladder. This is usually the right move as good private projects generally appreciate with time and after a few years they will further upgrade again. One of my clients sold their BTO 5 years ago to upgrade to a 3 bedroom condo and recently upgrade again to a landed property.

However, it is also important not to over stretch yourself and always buy something which you can afford comfortably. The first step is to do a financial analysis to find out what is your overall financial position and also determine a comfortable budget before we shortlist the good projects to consider.

Please feel free to contact me so that I can gather more information from you and assist you to draw up a upgrading plan and further share with you how best to increase your assets though property.

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

SEAA Salespersons Achievement Platinum Award 2020/2022/2023

WhatsApp: https://wa.me/qr/X6VRPGSSIHN5D1

Visit my website to get to know me better:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

Testimonial from Satisfied Clients

“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically, he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

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.
Weilun & Benita (Property Seller)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations. We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick provides a Read More

Congratulations for meeting your MOP soon and it will be timely to look into your portfolio and assess your next progress. For a start, it will be important to know more about your financial health when it comes to the next move, considering the loan you are eligible for, the monthly commitments required versus your family commitments to ensure that lifestyle is not compromised while you sit on better return potential. It will be great to be able to arrange for a meet up session to discuss more about your options.

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.

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
Senior Division Associate Director
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
 +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Visit and Like my facebook page at https://www.facebook.com/GerylLimSince2009/ - Aspiring To Be The Best Real Estate Agent In Singapore

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Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More

Hi, appreciate your sharing. It depends whether you are moving closer to school or parents. Funds require to be back first before purchase?
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

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

Upgrading to a Condo:

Financial Considerations:
Cost Comparison: Condos typically come with higher purchase prices, maintenance fees, and property taxes compared to HDB flats. Factor these costs into your budget.
Loan Eligibility: Your loan amount for the condo will depend on your income, existing loans, and CPF savings.
Additional Costs: Consider stamp duties and potential renovation costs associated with the condo purchase.
Investment Aspect:

Potential for Capital Appreciation: Condos generally have a higher potential for capital appreciation compared to HDB flats, but this isn't guaranteed.
Rental Yield: Condos might offer a higher rental yield than HDB flats, depending on location and property type.
Long-Term Investment: Upgrading to a condo should be a long-term investment decision. Consider factors like your future housing needs and market fluctuations.
Here are some additional resources:

PropertyGuru Upgrade Guide: https://www.propertyguru.com.sg/property-guides/mop-upgrade-hdb-to-condo-landed-property-28406
Remember: Upgrading to a condo is a significant financial decision. Carefully weigh the pros and cons
IF you Need Further Help--->> like : Renting / Selling / Buying or Investing Read More

Upgrading to a Condo:

Financial Considerations:
Cost Comparison: Condos typically come with higher purchase prices, maintenance fees, and property taxes compared to HDB flats. Factor these costs into your budget.
Loan Eligibility: Your loan amount for the condo will depend on your income, existing loans, and CPF savings.
Additional Costs: Consider stamp duties and potential renovation costs associated with the condo purchase.
Investment Aspect:

Potential for Capital Appreciation: Condos generally have a higher potential for capital appreciation compared to HDB flats, but this isn't guaranteed.
Rental Yield: Condos might offer a higher rental yield than HDB flats, depending on location and property type.
Long-Term Investment: Upgrading to a condo should be a long-term investment decision. Consider factors like your future housing needs and market fluctuations.
Here are some additional resources:

PropertyGuru Upgrade Guide: https://www.propertyguru.com.sg/property-guides/mop-upgrade-hdb-to-condo-landed-property-28406
Remember: Upgrading to a condo is a significant financial decision. Carefully weigh the pros and cons
IF you Need Further Help--->> like : Renting / Selling / Buying or Investing Read More

I'd like to arrange a non-obligatory meeting with you to discuss the following:

1. Reviewing your financial figures.
2. Exploring the available options in the market.
3. Outlining the timeline for selling and buying to ensure a seamless transition.
Let's schedule a time to delve into these important aspects of your property journey.

This platform does not allow me to contact you directly so kindly contact me at
https://wa.me/6597261112 I would be glad to assist you further.

Thank you and best regards,

Jenny Tran
Propnex Realty Pte Ltd
(HP) +65 97261112 
(Email) jenny.tran@propnex.com
BSc (Real Estate) (Hons)-NUS

Testimonial from Satisfied Clients
-- My husband and I wish to commend the sincere attitude and good customer service rendered by
your staff Jenny, who handled the sale of our 5R HDB flat early this year. We have met several
agents but none as genuine as Jenny. Being a seller agent, she took our interest at heart in handling
the sale, unlike other agents who are self-interest. Jenny is punctual and prompt in the whole
dealings and we were convinced that such an agent is hard for find nowadays. Jenny is a
trustworthy, honest, sincere and hardworking agent. We are happy with her service and would
gladly recommend her to our friends in future. Jenny is an asset to Propnex and the organisation
should value her. Thank you Jenny for her efforts--
Mr and Mrs Soo (HDB seller)

--Jenny is very committed and responsive to her clients and she has spent hours updating them and
looking out for great deals and even tailor-made property proposal geared towards their needs. Will
certainly refer her to others and will definitely approach her again in her future--
Nick and Kim (New launch buyer)

--Jenny did a great job helping my wife and I sell our unit. She took active steps to walk our
neighbourhood to understand what she was marketing. During the marketing period, she managed
potential buyers and provided timely updates and recommendations so we could stay on top of the
process. Overall, Jenny was professional and helped us to achieve a positive result which we are very
thankful for--
Aaron ( HDB seller)

--Jenny was very passionate and went the extra miles to help. Thanks to her professional advice and
recommendations, I had finally found my dream home--

Yvonne (New launch buyer)

--Appreciate Jenny's clear and prompt communication style with us and other stakeholders. She was
also patient and client-centered throughout the process of finding a home that met our criteria. As a
first-time home buyer, we appreciate how she went out of her way to explain the process and
answer questions we had--
Samantha (Resale condo buyer) Read More

I would be glad to assist you.
Feel free to contact me at wa.me/6597100155 .
Hope to hear from you soon.
Pei
Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd

https://linktr.ee/peiproperty
https://r011838b.propnex.net Read More

You can buy a condo and rent out your HDB flat, assuming financially ok. HDB rental yield is high. Read More