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  • Buy First, Sell Later OR Sell First, Buy Later? Let's explore to Pros and Cons

    When maneuvering to buy and sell your current and future home, planning is very important. From the financial planning, the timeline and what is the strategy, whether to buy first and sell later, or sell first and buy later. Both have its advantages and disadvantages. Let's dive in. Buy First, Sell Later Lets assume we are buying a HDB and then selling a HDB. This strategy allows you to secure your top choice property that you wish to buy next, and know that you will be having a home, without having to secure an interim house. However, unless you are confident that you can get the desired selling price for your current house, this strategy is risky. Seller will be encouraged to sell quickly, since HDB owners are only allowed 6 months to sell their place, once they have bought the other property ( a HDB owner can only be allowed to own only ONE HDB at a time ). On top of that, the buyer must be able to afford the downpayment ( 10% of the property price, assuming you are taking HLE ). Rushing to sell your property may end up not getting the price that you want for your current home. Sell First, Buy Later This strategy is allows the seller to get his desired asking price before proceeding to buy another. However, you may miss out on your top property choice while waiting to get your current house sold. Selling first and buying later allows the owners to sell cash out their current property and use the cash proceeds to place the downpayment, renovation cost for their next purchase. Buy First, Sell Later Pros - Get your top choice property - No interim house needed, straight move in Cons - Rushing to selling, may not get desired or lower price for your property - Must be able to afford the 10% downpayment (if using HLE) Sell First, Buy Later Pros - Will be able to afford the downpayment, renovation cost for your next purchase Cons - May not get your top choice next property - May need an interim house, or ask for temporary extension on your current house from their incoming owner to allow you to stay (max 3 months allowed) before moving in your next home There is no right or wrong to the timeline above. Preferably for me, would be to Sell first, Buy later. sell at the desired price while looking for a buyer who will allow a temporary extension of stay, so the transition from the current house to the next will be smooth and seamless. There are many other strategies ways into buying and selling of property. Call us to learn more about the process of buying and selling at +65(9062-2444). Visit our Website: Follow us: Facebook/Instagram:

  • Tips to Selling Your HDB

    If you are reading this post, most likely that your HDB has reached or is reaching its 5-years Minimum Occupation Period (MOP) and you are looking to sell, and perhaps takig the next property step and upgrade to a Condominium. Here are some tips into selling your HDB fast and at a premium price. 1) De-clutter: New buyers will most likely renovate the property that they will be buying, regardless if the unit is renovated or not. Decluttering of unwanted furnitures will create space, especially when units in Singapore are trending smaller and smaller. 2) Re-paint: A fresh coat of paint freshens up a unit. Especially those buyers who are looking ready to move-in apartments immediately, units with new paint will appeal to them. Bright-coloured paint is visually pleasing to the eyes making the unit looking bright and lively. 3) Repair: Fused bulbs, hinges, bidet, handles and wiring if theres any. This gives the impression that the house is very well maintained and next owner will not have to fork out too much. 4) Staging: Ever been to a New condo showflat? The way the display is done, the arrrangement of the furnitures, the lightings, the smell of the aromatherapy, the music. Do that when you are selling your HDB. I hope these tips will help you with selling of your HDB. For more advice regarding the selling of your property, contact us at +65(9062-2444) Visit our Website: Follow us on Facebook/Instagram:

  • Tips into Buying your First HDB Property

    Just got married? Singles, and just turned 35 years old? Congratulations. You are eligible to buy your first Property. Here are some tips before you go about buying your first Property. 1) Check your Eligiblity to Buy. You will have to Register Intent to Buy via the HDB Portal to check if you already Eligible to Buy a HDB. I have shared a link here to direct you to the HDB portal. 2) Apply for HDB Loan Eligibility (HLE) or Bank In-principle to check before hand, to determine how much loan you are eligible, so you will know what will be your maximun housing budget, and what type of housing and area you can purchase the hdb from. 3) Now, start your house hunting to find your dream house. I will always recommend my clients to follow these steps. Property buying can be exciting but can be stressful as well, so new buyers may overlooked certain things. I have encountered many stories of buyers forfeiting their deposit with HDB, after failing to secure a sufficient loan to afford a property. Doing your housing financial calculation is key. To learn more about buying your new HDB stress-free, contact us at +65(9062-2444). Visit our website: Follow us on Facebook/Instagram:

  • What are the factors to consider when Buying a Property? ( Owner-occupied/ To stay )

    Buying a property can be split into 2 categories: To stay or To investment. This topic can be very deep and subjective to each and every individual buyer, but lets discuss generally and just scratch the surface first. For Owner-Occupied ( For Stay ) When a buyer is looking for a property to buy with the intention to stay, in general, one will be looking out for price, peace and convenience. Location and proximity to parents, amenities, MRT, shopping malls, expressways in paramount, where they can save time, especially in busy Singapore. - Being near parents place for easy commute, to visit their parents, or when parents are assisting in taking care of their children. ( Will be eligible for CPF Housing Grants to be near parents as well ) - Near children's schools - Near work place - Affordability ( Find a property within your budget, to not over-stretch your means ) - Age of the property ( the older the building, higher chance of higher maintenance cost ) - Friendly neighbours. Having friendly and helpful neighbours is often overlooked. Good neighbour may prevent you from hair loss and heart attack amd sometimes loss of voice. So dont overlook this factor. - Near MRT, shopping mall, amenities ( For added convenience for daily provisions ) Here are some factors to look into before you zero in on buying your next property. Did you have the same factors when you are buying your Property? What other factors did you look out for? Share with us. And Good luck for your next Home! Need advice regarding Property buying? Contact us at +65(9062-2444) Visit our Website: Follow us on Facebook/ Instagram:

  • What are the factors to consider when buying a Property? ( For Investment Edition )

    Every property owner, be it they want to buy for investment or for stay, will prefer to have convenience. Being able to simplify your daily routine by having all the amenities in your vicinity, especially being in a country as busy as Singapore. Hence, likewise, when one is looking into buying a property for investment, try and think convenience for your potential tenants. Are they looking at a certain location to be near their workplace, schools, shopping malls, MRT, nice view from the apartments, amenities? In general, when you have all these factors, the rent for that particular unit or condo can fetch a good rent. Most property buyers buy emotionally. Be careful not to fall into that trap. One of the most overlooked factors is to see if there is a new condominium being development around the vicinity, and what is the average psf of the condo. Then, do a market price comparative between the condo that you are keen on between the new condo? For instance, the Quartz condominium @ ( 1160psf ) is just next to Sengkang Grand Residences @ ( 1600 psf ) and just 200m away from the MRT. Despite its 99 yr-leasehold, its still a young development of 10 years, and once the new shopping mall Sengkang Grand Mall is operational, it will be even more convenient to an already convenient area. Do you think the price for Quartz will increase further from 1160 psf? I reckon it will. Once Sengkang Grand Residences is ready for occupancy, it only make sense the owners will only want to sell at more than 1600 psf, pulling the Quartz prices up as well. Having difficulty to spot good condominiums with good potential for capital appreciation? Contact us at +65(9062-2444) Visit our Website: Follow us on Facebook/ Instagram:

  • Can I Afford to Buy a HDB?

    Since majority of the population in Singapore owns or stay in HDB, this is a very common question. Whether one can afford to buy a HDB. Subject to your Eligibility to Buy a HDB , stay calm, even if your fiance/fiancee or spouse kept prodding you to buy a unit. The moment this conversation comes up, swiftly change topic to their favorite restaurant or if they would like to catch a movie. Hahaha. Jokes aside, purchasing property in Singapore is expensive, so please do your due diligences and know what type of property and price that you will be able to afford. Here are the steps to follow before you start your property search: 1) Register for Intent to Buy. Do this first step first. In fact, in the HDB portal, after you have done the Register Intent to Buy, it will lead you to follow other necessary steps to obtaining your new home. But over here, I'll simplify it for you, because, I'm as excited for you, for you to own your own property. 2) Financial Calculation Know what you can afford and your max budget. This will be the total of your combined CPF, HLE ( HDB Loan Eligibility ), CPF Grants that you may get and Cash that you wish to put in. 3) Once you know your affordability, now you can start your home search. Good luck! Still not sure if you can afford to buy a HDB? Contact us at +65(9062-2444) Visit our Website: Follow us on Facebook/ Instagram:

  • How to Apply for HDB Loan or Bank loan? ( For HDB property )

    Did you know that when buying a HDB, you can get loan either from HDB or Banks as well? Yes, you can get loans from the banks as well. I'll discuss the difference on another blog. As for HDB, click here to learn how to apply for the HDB Loan Eligibilty ( HLE ). As for bank loan, contact us +65(9062-2444) to learn how to apply for a bank loan. Visit our Website: Follow us on Facebook/Instagram:

  • Which is Better? HDB Loan or Bank Loan? ( For HDB Property )

    This is one of the most favorite questions I get from my clients. Which is better? Bank loan or HDB loan? Very subjective topic, and I have discussed and gathered polarizing opinions on this. Let's discuss further. HDB has a 5-year Minimum Occupation Period ( MOP ), meaning the owner must be living in the premise for 5 years, before they are allowed to sell or rent the whole unit. Lets assume 5 years MOP has just been reached. And owner took a loan of 300k, Fixed Interest Rate, when they first bought this unit. 5 years MOP $300,000 Loan Bank Loan (1.5% Fixed Interest Rate) After 5 yrs Principal paid = $ 41,652 Interest paid = $ 17,139 Total = $58,791 HDB Loan (2.6% Accrued Interest) After 5 yrs Principal paid = $36,714 Accrued Interest paid = $29,976 Total = $66,690 Notice that for the Bank loan its Interest, where you will have to pay back to the bank, and one is Accrued Interest, where that interest will be returned back to your CPF. As you have noticed above, after 5 years, the total paid by the owner choosing a Bank Loan and HDB Loan is a difference of $7,899. Mathematically, on paper, this definitely looks nicer right? Some may argue that if you take the HDB loan will be an extra savings of $7,899 instead. That will go back into your CPF. For those taking the Bank loan will argue that, in the end, they will receive more in their Cash Sales proceeds, if any. So, which one would you choose? HDB Loan or Bank Loan? For me personally, my advice is, for those with a steady income like government officers, where it's almost like an iron rice bowl, go for the Bank Loan. No wrong between the two Both type of loans has its pros and cons. Looking to sell your Property but still lost on how to calculate for your sales proceeds and for your future property, contact us at +65(9062-2444). Ill breakdown for you the financial calculations for you. Visit our Website: Follow us on Facebook/ Instagram:

  • Why are people selling their HDB BTO units and buying a Private Condominium?

    Asset Progression In Singapore, HDB units are for majority of the masses and the government build it for stay rather than for HDB owners to make money out of it. Government will regulate it well as to let the prices be affordable. Can you still make money out of it? Of course, yes. Whether will it be faster capital appreciation than a Condominium. Most likely not. People buy Private condominium as the prices tend to appreciate faster than a HDB. Facilities On top of that, the added facilities which they wont get with HDB. The added security, pool, in house gym, BBQ pits, let them enjoy the facilities without having to patron facilities outside the development. Selling your BTO and wanting to upgrade to a Condo? Contact us at +65(9062-2444). Visit our Website: Follow us on Facebook/ Instagram:

  • Should I pay more monthly for a shorter loan or pay as little as possible but full term tenure?

    Another excellent question, and also a very subjective one. No right or wrong answer, really depends on your comfort and affordability. Also taking in consideration your lifestyle, children's school fees, tuition, car loan, credit card etc. So every individual will give a different opinion on this subject matter. But let me breakdown for you so you can make up your own mind on this. I'll split the comparison between Bank loan and HDB loan as well. Lets assume we take a loan amount of $300k HDB Loan For 25 yrs tenure Monthly Instalment = $1,361 Total Accrued Interest = $108,303 For 15 yrs tenure Monthly Instalment = $2,015 Total Accrued Interest = $62,614 ------------------------------------------ Bank Loan For 25 yrs tenure Monthly Instalment = $1,200 Total Interest = $59,943 For 15 yrs tenure Monthly Instalment = $1,862 Total Interest = $35,201 So, as you can see from the illustration above, taking a shorter 15 years tenure and paying more monthly, you will definitely save a lot on the interest. In my opinion, if you can afford it, paying more monthly but on a shorter tenure is better, as you can save more from the huge interest. But of course, this again bows down to your lifestyle as we have other commitments elsewhere to. Do you think it's worth the savings? Share your thoughts on our forum. Looking to sell your property and still wondering which is better? Contact us at +65(9062-2444) to discuss. Visit our Website: Follow us on Facebook/ Instagram:

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