Keep HDB Flat & Invest in a Private Condo: P.H. NgMr P.H. Ng is 50 years old and a civil servant. He owns a fully-paid 5-room HDB flat in Woodlands and lives there with his 90-year-old mother. Mr Ng knew of some friends who had profited by investing in multiple properties and he, too, had the desire to own a private condominium as an investment.
Mr Ng had no intention to sell his flat then as his elderly mother was comfortable living in the same familiar neighborhood and did not wish to move. His main concern was whether he could afford the down payment and the monthly mortgage payments for a private condo should he retire in a few years’ time. Raymond understood Mr Ng’s concerns and needs. He worked out a few scenarios for Mr Ng by applying various mortgage options and financial stress tests, taking into consideration that Mr Ng would need to pay the Additional Buyer’s Stamp Duty (ABSD) for owning a second residential property. After looking at the results of the stress tests, Mr Ng was convinced he could proceed safely to purchase a private condo with peace of mind. He is now a proud owner of a 2-bedroom condo in Parc Botannia. The stress tests illustrated that even if the rental market remains soft, Mr Ng could still pay the monthly mortgage instalments for his new condo for about 98 months and without touching his personal cash savings! |
Invest in a Property Today & Start Growing Your Retirement Fund!We have helped many single and married Singaporeans upgrade to an EC or Condo, own a first private property or even own multiple private properties. We understand each of our clients is unique and may have different challenges, constraints and needs. How could we help you too?
Contact us for a FREE Assessment |