Lease decay! Asset progression! Sell one buy two! some of the common terminologies which are advertised by most agents.To be honest, these are all truths and with proper number crunching and planning. Majority of the agents out there are definitely proficient in their knowledge and have done their homework – especially more so when they are certified professionals (it is really not easy getting licensed).The purpose of this post is not to discuss the technical aspects of property transacting but more of a personal experience of sourcing, when my own 5-room Punggol flat MOP-ed with a 3 year old in tow.Sitting on some comfortable cash proceeds (less CPF repayment, accrued interests and stamp duties) and with our combined income, we were definitely eligible for some of the fore-mentioned asset progression plays.However, as we ran through the potential plans, the options were non-exhaustive but we were getting exhausted. Thus, we came up with a very simple and precise checklist to assist in limiting the options
- What is the purpose of sale?
- Why do we need to shift?
- Where should the next Home be?
With this we realised we were looking for a HOME and not an investment instrument – straight away all new launch options were eliminated and we focused solely on resale properties which fulfilled our criteria and within weeks, our forever home was found.In closing, property investment in Singapore is something nice to have but it is not a standalone product, it is a diversification from your portfolio of stocks or other investment instruments. Especially since it is capital intensive and management of cash flow is imperative in such times.Hope this post has resonated with or provided some assistance in your next property search journey.Reach out to me if you would like to share your experience or have any queries to your real estate matters.Either way, make a friend!
|Purpose||To get a bigger space for 3-Gen living, Forever home|
|Where||Near parents and MRT|
|Why||Logistics purpose – School, Familiarity, Public transportation- connectivity|