CASE STUDIES - HDB TO EC
Case Study 1: 10yrs old 5 room HDB Upgrade to New EC
This lovely couple wanted to upgrade to a bigger unit as their family size outgrow their current flat. Their HDB flat has past the Minimum Occupation Period, MOP. They thought it is time to do something with their flat.
After understanding their needs and wants, I go through with them the procedures and timeline of selling and buying. They have 3 children and their parents are staying with them, so moving to a rental unit is not an option. So, the planning and execution are critically important to ensure their moving-out and moving-in smoothly without any hiccups.
On the second meeting, I showed them the financial calculations and shared with them different options which they can consider. They decided to go ahead with the plan. I sold their flat within a month.
They chose a new EC, Executive Condominium which suit their family size and the Right Entry Price with potential to grow. They happily moved into their new EC.
Case Study 2: Resale 4 room HDB Upgrade to New EC
They owned a HDB resale flat in Sengkang. They wanted to upgrade to a bigger HDB flat and seeking for advice.
I shared with them the HDB resale trends, past transactions and EC Executive Condominium selling price. They decided to go for EC. I shortlisted a few EC new launches for them. After we went for viewings, they chose the EC which suit their criteria.
One of their concerns is they don't want to move out and rent an apartment. They choose to stay in their current flat until the EC TOP, which means they have to come out the down payment first. I worked with my banker and applied one of the financial techniques to ensure they have sufficient funds to buy first because their flat is not sold yet.
Buying a new EC may seems to be easy, however you need to consider carefully on cash flow, timeline planning and the EC Right Entry Price with potential to grow. They are glad that to achieve all of them.