Over the past few years, I have helped various clients from various walks of life to restructure their property portfolio.
While they come from different backgrounds – they are all highly committed to securing their financial future through better property decisions.
As the family expanded from just 2 of them to having 2 children, they decided that they should get their own place instead of renting. Afterall, they will be preparing kids for schooling soon. Both are PR.
They feel that it is worthwhile to still pay the additional buyer stamp fees than to rent for the next 10-20 years. Between a resale flat and a condo, they feel that condo is a better option as the rules for owning a HDB flat for PR are more restrictive.
Buying new launch is not an option as they do not have the leisure to wait for construction to complete in few years’ time. And the size of a new launch can be a bit too tight for the family of 5 and sometimes 7 if parents are visiting.
Furthermore, new launches are mainly leasehold while they are keen in freehold. Their property has since appreciated due to the many neighbouring en bloc activities that push their prices up.
The parents felt that as their kids are grown up, planning to get married and shifing out, the landed is a bit too big for them. As age is catching up, the stairs also pose a challenge for the old folks.
The parents thus felt that it is time for them to move to a HDB to enjoy the convenience of amenities, eateries and ease of transport. The priority is to sell at the right price as they are in no hurry to move out.
What this family like is that they do not want to shift twice and their funds from sale to be used to buy the resale HDB flat. We managed to find a flat with the right size to fit the family that requires minimal renovation to allow them to move in before they hand over the current landed to new buyer.
Parents are getting on age and climbing up and down the stairs can be a bit too much for them. Furthermore, the landed left with 77-years old balance lease. The family of 8 with 3 generations staying in there feel that it is time for them to shift to a one level apartment. As the landed ages, the resale value can potential be dipping over time.
Selling is priority and they are aware that they cannot buy first as it is more challenging to sell theirs than to buy a smaller place. The biggest challenge is to ensure that it is hassle free for the family to move to the next home and it can be challenging to move from a big space to a smaller space. Moving to a resale leasehold condo is another option but there is a concern that the dropping resale value over time.
A freehold option likely can help to preserve the value and they are buying for own stay.
We managed to find the right buyer for this terrace and find the right house that we expedite some minor renovation to move in timely before the handover of this current house to the new owner. My clients also not wish to pay additional buyer stamp fees so we managed to sell first and buy later.
Smooth time line and cash flow for transition to next house for this 3 generations family for own stay.
The house becomes a bit too big to upkeep as children move out. Climbing up and down the stairs can be taxing as parents age. The landed was almost 20 years and there was a concern that the resale value could be dropping over time. The challenge for my clients is that they love gardening and they need a space for their pet dog if they should shift from landed to an apartment.
Selling is priority though there is also a concern that they cannot find the next home to move in after the current place is sold. We focused on selling and found the right buyer and we managed to find the next place that allows the family to have space for gardening and conducive for the pet dog. Most importantly, my client need not move twice as house shifting can be taxing.
And the new house requires minimal renovation. In addition, the condo is still within the neighbourhood that they have been staying in and the familiarity and convenience makes the transition from a big space to a smaller space easier.
The challenge was to get the right buyer who was willing to rebuilt this place.
Selling and viewing to buy took place concurrently as another biggest concern was that the family left with no place to stay when their home is sold. The sell and buy was timely. We managed to find a newly built semiD of smaller land size in the North East ready to TOP when the current semiD was sold.
My clients also managed to buy another freehold condo for investment. They managed to cash out from the sale of their bigger landed to diversify to a newer semiD for own stay and another property for investment without touching their savings.
Renting out is not difficult as it is near town ,amenities are nearby and the living space is conducive and spacious. The property is however showing signs of wear and tear as it is almost 20 years old. She also felt selling it to shift to a HDB living will be more economical and she can also put aside some reserves from the sale of the flat for other uses after fully paid for the HDB flat.
Maintaining it to be rentability becomes costly while the rental rate is also dropping. After assessing, my client decided that she is ready to let go and we managed to sell it off while still collecting rental income. And she bought a resale HDB flat, fully paid for own stay.
The couple in their 50s find that their 4room flat is too big as their kids married and shifted out. This house is well renovated and well maintained with a minimalistic concept that suits many who is looking for hassle free move it and is conveniently located within mins walk to Jurong Point and MRT. The minus is that it is a ground floor unit.
After sell, we need to factor in the funds for Retirement Account and to ensure that there are sufficient funds to fully paid for the next house. We also need to find the next right house timely in order to move once. The couple is used to staying on ground floor so the next house has to be on ground floor and allows my clients to renovate and shift in before hand over their flat to the new owner.
All done in a timely fashion.
Successfully sold this beautiful 5room HDB flat conveniently located within 5 mins walk to Jurong Point/MRT/Interchange and helped the family upgrade to an EC. The resale price of the HDB flat is dropping even though it is in a good location. Also at the same time, the resale competition was stiff as many HDB upgraders were collecting keys to their EC and BTO.
It is good that the family unlock the proceeds from the sales and change to another property with higher upside potential. They also did not need to pay for the resale levy as their HDB was not bought with subsidies. And they get to shift within the Western region which is near the school and workplace.
The couple in their 20s is planning to get married and to get their first matrimonial home. They like the space, convenience and familiarity of a resale HDB flat nearby parents’ place and they get to enjoy housing subsidies.
However the resale HDB flats is nearly 35 years old. They also need to set aside for renovation budget. Before assessing their finances, they did not know that they can also afford a condo.
And they do not mind waiting for a new condo as they currently have a place to stay, save them the hassle of renovation and they get to enjoy being the first owner.
The couple is getting on in age, so is their fully paid HDB flat in AMK which they have been staying there for almost 40 years old. They feel that it is time to move nearer to their children in the West and to shift to a smaller space and fully paid it while keeping some savings for old age.
We managed to sell to a lady who is relocating to stay near her elderly parents.
