Back to our monthly sharing on different HDB upgraders – why would they have made the decision to upgrade & how did they achieve it?
It is never about luck. In real estate, it has always been about the right timing & the right strategy.
Today, I will be sharing with you this pair of HDB upgraders, Gerald Lim & Silvia Zhang, both husband & wife.
Gerald & Silvia bought & moved into their new BTO flat in 2014. When their flat met the M.O.P in 2019, they were much hesitant if they should sell & upgrade to a private condo. It is not surprising that most young couples have consideration over the affordability.
We happened to cross paths in one of the consumer seminars and we were talking about the pros & cons of upgrading a HDB to a private property. It was purely a sharing session with them on certain aspects of the real agenda to upgrade.
1. CPF accrued interest. While not many are aware of this, CPF loan payment is depleting the profits of most HDB owners. Which consists of the 2.5% CPF interest you can earn from your CPF account & 2.5% of the accrued interest one needs to pay back. A total of 5% opportunity costs! Which means to say, for every $200K, you are potentially losing $53,200.
2. Tapping on the capital gain of real estate in the Private property segment. Which is true that no investment works as stable & as profitable as a piece of property in Singapore.
Take a look at our animation chart before & find out what Gerald & Silvia has decided on!
My name is Jen Tan, drop us a private message or give us a call & we will get back to you soonest. While in this Circuit breaker period, if you have any questions, we can always do an e-meeting online to share more. Stay safe!