August 2, 2021

20 thoughts on “How We Sold Two Properties In One Month and Very Close to My Asking Price!

    1. Hi Caelitus, Amen. It was definitely His timeline otherwise it will not be so smooth.
      GBU and ur loved ones as well.

  1. 1. "both properties were more than two decades old"

    2. "our FH property appreciate more than 40% value in ten years, and our leasehold HDB depreciated 7% in the same period"

    Did you bought HDB resale flat?

    1. Yeah CW! HDB was resale! Very very old liao… Not sure how many HDBs in SG can be other than ours.

  2. Congratulations.
    Have you narrowed down your search for that new landed home in terms of neighbourhood yet?

    1. Hi Andy, thank you and hope you and family are doing well in 2021 thusfar.

      I really love Serangoon Garden and their nearby amenities, and already went to see quite a few houses. The listings are not so many and everyone is asking for high pricing now, except those odd shapes, west suns, along main-roads etc ones.

      Also Garden, is a little inconvenient for my kids' school, but I have little choice on this as my kids study near Bt Timah and the landed there are way beyond my reach.

      However, I am not bounded by one particular location, as I am open to other areas EXCEPT those are outskirts.

    2. We too love Serangoon Garden. Been here since 2006. Traffic flow is a bit of an issue if your place is in the wrong corner of Serangoon Garden.
      Best of luck to finding the right place soon.

    3. Hi Andy, I cant of guess it for u, due to the school there. Yeah I know the place pretty well as few frds stayed there. Entry by Cardiff Grove is much better…. Tks.

    1. Hi LKH,

      Thanks for suggestion. Yes, we considered it. My sibling use to own cluster and landed, and I stayed in both there before in my younger days.

      For cluster you do not own the land, it is more like condo with mcst monthly fees.

      Normally cluster has land that is smaller, meaning living room is smaller but compensate with basement and built up GFA in vertical manner.

      No doubt cluster is normally better reno with facilities, but landed give lots of flexibility in the land or A&A to give more GFA.

      Main point is also Landed is very sellable if not odd shapes, not west sun direct facing, not along main road, n seller not overall greedy, but cluster is more difficult to sell!

  3. Brolf, congrats! .. buying/selling can be quite tiring!

    kinda agree with the above comment, cluster housing is a good alternative.. hybrid type of landed house but with facilities. the only problem is not many in the market.

    1. Hi Bro, see above comments. Cluster the psf appreciation is slow compared to landed!

      And it’s more difficult to sell. But it is definitely very comfy living there.

  4. Hi Rolf,
    Am 66 this year. With more free time now, start to read blogs to pass time. Your blog is a refreshing read.
    I am not in property investment locally, though have invested in overseas properties. Based on my own experience and those of relatives & friends, I think a freehold/999 years landed in land scarce Singapore is a better option for wealth preservation in the long term.
    Bought my first home, a freehold landed intermediate terrace in Tai Hwan in 1987 out of necessity as I was getting married. Our combined income then disqualified us from buying HDB. Were qualified to buy 99 year HUDC, but the price was only slightly lower than a freehold terrace. Condo was beyond us, as condo was then a new fashionable concept and supply was scarce. Sold the intermediate terrace in 1995 and bought current home in Kovan, again out of necessity because of family needs for more space. Excluding interests accumulated over 30+ years, total captial outflow for the 2 properties was about $1 mil. Think current value of present property is 4/5 times the total capital outflow. Some years back, had thought of swapping current landed for 2 or 3 condo for rental income, but decided against this. Supply & demand favours freehold/999 years landed over the long term, with option to pass on as legacy. Also, could extract income from cuurent property by taking equity loan using current property as collateral and invested in investment grade corporate bonds. Difference in equity loan interest and coupons has earned me between $2,000 and $3,000 per month for the past 12 years, tax free and hazzle free. There are ways to extract income from landed properties, other than renting out the properties.

    1. Hi Retiree5559,

      Tk u for e comments n reading my blog. Above all, tk u for sharing ur exp.

      I agree to go ONLY for FH/999 bcos they appreciate faster in land scarce Sg.

      Interesting to note that Condo use to be for the more affluent?

      My sis resides in landed, so far she had made more than 100% of prev being last than 5 yrs, and her current one is again at least another 70-80% appreciation within 10yrs.

      Great to know about prop as collateral helping. This is v gd idea! For fully paid property only right???

      Tai Hwan area – in fact I am going for viewing today! 🙂 Kovan is also my fav with so many amenities around.

  5. wow congrats!

    All the best in searching your new landed prorperty. I am already in my 30s and haven't got a property yet.

    Landed property is good, just that the maintanence costs can be quite ex.

    1. Hi EOS, tks.
      Yes, w garden, and some with swimming pool n lift will incur hefty maintenance. Parking can be saved though! Condo also has maintenance fees, n I know of some ex Condo of 1.5K per mth. S$400 pm for condo should be typical …

  6. Rolf,
    My faith in landed properties was buttressed by the changes in prices (landed vs condo) over the years as their relative supply & demand changes. Yes, condo used to be costlier than landed in the 1980s. Not many condo then, also generally larger than current ones in sizes. With condo becoming more and more "mass market", the price gap will likely widen further in future.
    No, still have outstanding loan of ~ $40,000 now. Intended to fully pay out years ago when my RM stopped me & suggested the equity loan idea, about the lowest borrowing cost in the market. Good to learn you are looking at Tai Hwan/Kovan. Nice area, quiet, good food & transport link, many amenities, almost all the banks in Singaore within a small area, NTUC etc. Wish you all the best in your house hunting.

    1. Hi Retiree5559,

      Thank you for your well wishes and sharing.
      May God's blessings upon you and your family.

  7. Best wishes and congrats on selling! Looking forward to hearing more about your house hunt experience.

    1. Hi garudadri,

      Thank you for the well wishes. Will definitely share more about my house hunting experiences in the near future.

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