Is Your Current Property A Good Hedge Against Inflation?
Are you feeling the pinch from the rising cost of living in Singapore? Owning a private property can be a good hedge against inflation in land-scarce Singapore? This is one main reason why many HDB homeowners are upgrading to ECs or condos. Climbing up the property ladder helps you grow your property asset, enabling you to cash out later to supplement your retirement savings.
A sobering fact...
If you wish to retire at 65 with just a modest monthly allowance of $3,000 till you are 85 years old, you would need a whopping $720,000!!! Are you able to scrimp and save $720,000 just by working hard?
Three Common Myths
- Only very wealthy people can afford to own private properties. This is far from the truth. Many of our clients who upgrade to ECs or condos are middle or upper-middle income HDB flat owners who have the aspiration to improve their lives and do better for their families and themselves.
- If I sell my HDB flat and upgrade to an EC or condo, I will not be able to own a HDB flat again. Not true. In fact, it is very common for homeowners to right-size from a condo to a HDB flat in order to cash out and enjoy a worry-free retirement.
- It is too risky to take a property loan from a bank to purchase an EC or condo. Most people would not be able to purchase an EC or condo without taking a loan from a financial institution. When you pay the monthly loan instalment, one part goes to reduce the principle amount borrowed and the other part to pay the bank as interest. Treat it as a form of disciplined, forced savings. You reap the generous reward when your property makes good capital gain and you cash out and take profit. To ascertain if you can upgrade safely, meticulous financial calculations must be carried out.
Don't Just Work Hard. Make Your Property Work Harder for You.
Would you like to have enough savings and the option to:
- Retire early?
- Pay for your children's further education?
- Go on dream vacations?
- Build a stream of passive income so you can choose to work less?
Upgrading to a private property can be a stepping stone to achieve any or all of the above goals. We have helped many homeowners do just that.If your household income is more than S$10,000 per month, it may be possible for you to upgrade your property. If you could upgrade safely and grow your wealth and retirement fund, what is stopping you?
Why Work With Us
We are Terence (right in picture) and Raymond from PropNex Realty. We have helped many HDB homeowners market and sell their flats and then guide them to safely upgrade from HDB to condo or EC, including both new-launch and resale properties. We have the necessary experience and you can trust that you are in steady hands.
We seek to understand your needs first and will go through with you the necessary checks to ensure property upgrading is indeed appropriate and safe for you. We do not charge any fee to help you purchase a new or resale condo or EC. It, therefore, makes absolute sense for you to engage an experienced, reliable and trustworthy realtor to safeguard your interest.
Connect with us for a FREE 60-minute consultation. In this one hour, we’ll:
- Listen and understand your needs, wants and concerns and take your questions
- Show you the relevant market information and data and how they may affect you
- Share with you how we’ve helped many of our clients upgrade safely
- Gather information from you to help assess if property upgrading is indeed suitable for you
- Arrange another meeting to share our findings and recommendations