WANT TO BUY OR SELL A PROPERTY?
ANOTHER AWARD! LATEST ACHIEVEMENT! THANKS TO ALL MY CLIENTS!
NAME OF AWARD: ERA TOP ACHIEVERS AWARD - AUGUST 2022
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SHOULD YOU UPGRADE?
ARE YOU CONSIDERING TO UPGRADE YOUR FLAT
OR PERHAPS, A CONDO? WHICH IS BETTER?
OR PERHAPS, A CONDO? WHICH IS BETTER?
List of Services
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CONSERVANCY CHARGESList Item 1
$30 to $100 per month on average, depending on flat type
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PROPERTY TAXList Item 2
$200 to $400 per year on average, depending on flat type
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UTILITIESList Item 3
It varies depending on individual usage. But from some observations, a HDB owner seems to be paying much lesser than a private owner
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PARKING CHARGESList Item 4
$90/month for surface car park and $120/month for sheltered car park
List of Services
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CONDO MAINTENANCE FEESList Item 1
from around $300/month to over $1000/month, depending on condo type and location
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PROPERTY TAXList Item 2
Again, it varies depending on individual usage. But from my observations, most of the condo owners seem to be paying more than $200/month, and some of them are even paying an excess of $500/month
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UTILITIESList Item 3
It varies depending on individual usage. But from some observations, a HDB owner seems to be paying much lesser than a private owner
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PARKING CHARGESList Item 4
Maintenance fees would usually include parking charge
But does that mean that we have to stay in our HDB flat forever?
1) After selling your current HDB flat, would the sale proceeds be adequate for you to buy another condominium for your own stay? Or is it enough to even buy two private properties (one for your own stay and one for investment?)
2) Would you be very comfortable paying the monthly projected expenses and loan instalments if you really make the move?
3) If you and/or your spouse become unemployed, would you still be comfortable in paying your monthly expenses?
4) Do you have enough cash and CPF reserves for rainy days? For example,
a) At least 12 months’ worth of reserves for property expenses
b) Unexpected expenditures in the family such as medical expenses, etc.
c) If you’re buying to rent out, are you able to get by with lower than expected rent or when you cannot find a tenant in the short term?