How did a young couple afford a condo as their first property?

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SHAWN & AMELIA'S FIRST PROPERTY

Shawn (aged 29) and Amelia (aged 27) have started the search of their first property since 2017. Both of them just started working and have a combined income of less than $6,500. Shawn and Amelia tried to apply for a BTO flat at their desired location but to no avail. They were very dejected and decided to look at Resale HDB because time was running out as are getting married and do not want to stay with their parents after marriage.

Shawn and Amelia narrowed down their search to Bishan and Ang Mo Kio as they wanted to stay close to their parents. To their surprise, they realised that the flats are very old and still so expensive. The newer ones are smaller in size yet even more expensive. Confused over what they should do, Shawn and Amelia were overwhelmed with information online. 

Like many others, they found Daniel and Yvonne (Sg Real Estate Advisor) from social media (Facebook) and decided to find out more on what should they do. Daniel and Yvonne did a detailed sharing with them on the 3 things that all first-time property owners MUST know.

  1. What options do they have and where can they see themselves 5 to 8 years down the road.

  2. Affordability calculation and detailed financial breakdown for the next 5 years.

  3. How to select the right property with good potential.

After hearing Daniel And Yvonne's detailed plan for them, Shawn and Amelia understood what is best for their future and took action immediately. In 2019, both of them are proud owners of a 2-bedroom new condominium. They never knew they could afford one, and most importantly, it is very well within their means.

COMMON QUESTIONS EVERY FIRST TIME BUYER HAS

  1. Is HDB BTO the best choice for all young couples?

  2. Am I missing out if I don't go for BTO?

  3. Why do most Singaporeans choose to buy a HDB first?

  4. HDB Grant is an entitlement to Singaporeans. Is it worth it to take the grant? 

  5. Should I be looking at HDB, EC or Condo? What is the difference? Which is better for me?

  6. Should we buy Resale or New Launch? How do we determine which?

  7. I want to go for a Condo and I don't want to overstretch. Will I be tied down by the loan?

  8. Can I really afford a Condo?

  9. If I buy a Condo now, can I still buy a HDB in the future?

  10. How to SPOT undervalued property?

REAL LIFE CASE STUDIES

BTO VS. RESALE HDB

Couple 1 bought a BTO:

2011:

Bought a 4-room BTO in Punggol @ Treelodge for $258K

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Pricing Breakdown:

BTO Price $258K

+ $50K Renovation

+ $25K Furniture

2019:

Sold their house at $468K, Upgraded to a 3-bedroom Condo

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Pricing Breakdown:

Selling Price $468K

- $40K CPF Accrued Interest

Total Cost: $333K

Final Price: $428K

3 Years to Build + 5 Year MOP

+ $95,000 over 8 years

Meaning, your BTO is only making:

$11,875 / year

$989 / month

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Couple 1 have wasted 8 years of their time before they can finally make their second move!

Couple 2 bought a Resale HDB:

2014:

Bought a young 4-room Resale HDB in Fernvale Lane for $400K, Took $50K first-timer grant

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Pricing Breakdown:

Resale Price $350K (After Grant)

+ $60K Renovation

+ $25K Furniture

Total Cost: $435K

2019:

Sold their house at $400K, Need to use their own savings to upgrade

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Pricing Breakdown:

Selling Price: 400K

- 40K CPF Accrued Interest

Final Price: $360K

LOSS of $75K over 5 years

Couple 2 sold their flat at valuation after reaching their 5 years MOP with no cash proceeds.

How many of you believe that Real Estate can help you grow your Wealth?

6 Major Obstacles in Property Purchases

  1. ​Huge Capital Upfront

  2. Loan (Income related)

  3. Lack of Knowledge

  4. No Network to get Good Deals

  5. Uncertain of Market Conditions

  6. High Risk

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Buying Property is a very Big Decision.

Buying is Easy, but Choosing which property to buy is Difficult.

DON'T MAKE THE MISTAKE THAT MANY OTHERS HAVE MADE IN THEIR FIRST PROPERTY

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  • ​Clear of their Financial Status

  • Understood the Risk Factors

  • Understood the OPM Method

  • Clear mind as they want their first property to be making money for them

  • Understood that first property is an important stepping stone to buy their future dream home

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Why are our clients Taking Action?

Question is: Are you Taking Action to find out more for yourself Now?

TAKE FULL ADVANTAGE AS A SINGAPOREAN HOME BUYER

YOUR FIRST PROPERTY IS YOUR STEPPING STONE TO RETIREMENT

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Do you want to have a head start in your property investment, or would you rather be lagging behind your peers?

Come Meet Us

Take an hour of your time, share with us your goals, aspirations, and your concerns. We want to understand you and what you want so that we can advise you better.

 

After hearing your thoughts, let us share with you more on your finances and options you can consider.

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LET US CLARIFY ALL YOUR DOUBTS DURING OUR 1 TO 1 DISCUSSION

After all, the discussions are completely free and non-obligatory.

 

Nobody wants to regret when they look back on their lives 5 to 10 years down the road. Seize this opportunity now and kickstart your property the correct way. All it takes is an hour of your time.

 

Hi, we are

Daniel & Yvonne.

As property investors ourselves, we hope to help more people make the correct property move in Singapore. Our goal is to help our clients grow their wealth using Real Estate.

Over the years, we have assisted many clients to buy their properties and have seen them benefitted from this move.

We dedicate our time to assist our clients to kickstart their property planning by giving them a customised roadmap, helping them spot undervalued property, managing their property portfolios, and most importantly guiding them to when to exit and move on to the next property.

Meet Us And Let Us Share More With You

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