How to upgrade into prime district condo with only $500 each monthly instalment WITHOUT touching your savings. Monthly Passive Income
Couple, mid 40s in their 1st BTO in Punggol for 17 years
Mr. & Mrs. Ram came to me and were looking to upgrade but unaware if they can do so. They were surprised and excited to find out that they can own a prime district condo with the hard-earned savings that they saved in the past few years.
Today the family is a happy owner & investor of highly-sought-after development in River Valley and enjoying capital appreciation.
* Names have been altered for privacy
- Mr. & Mrs. Ram lives in their first BTO for the last 17 years.
- Both in their 40s today.
- Household income $12K
Desire to upgrade but concerned of hefty capital outlay & monthly instalment.
Sitting on paper gains.
Property reached its peak 7 years ago at more than 100% gain, last 6 years has dropped $100K and currently stagnant.
When the property pulse is flat, existing owners lose out on 5.1% combined interest annually from loan (2.5%/yr) + CPF (2.6%/yr)
2006 - 2013 = 117% Increase
2013 - 2016 Dropped 17%
2016 - 2019 = Stagnant
Upon tailored financial planning, we found a solution for the family to upgrade and live in their dream home in River Valley with just $500 each per month for mortgage without touching their savings.
Analysed Undervalued Property.
Bought in a Freehold Property at River Valley, similar price as leasehold District 3, Queenstown of the same bedroom type.
– $500 each for monthly installment.
– Made sure savings were not touched.
Own a HDB For More Than 5 Years?
Find Out If You Are Eligible To Upgrade Without Touching Your Savings!