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Leo Kwek

Full-time property consultant & Part-time writer at privatehome.sg

Leo Kwek

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Full-time property consultant & Part-time writer at privatehome.sg

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Leo Kwek

  • Answers (12)
  • Questions (0)
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Property

Lifestyle

Family

Investments

Which new condo project is recommended?
Leo Kwek
Leo Kwek
Level 4. Prodigy
Answered on 18 Mar 2020
There are about 37 new launch projects this year and indeed it can be pretty overwhelming when you have so many choices. One of the projects that I personally like is Penrose Condo at Sims Drive, Aljunied. It is estimated to launch in Q3, 2020. You may read more about the details here. A few reasons that I like about this project are: 1. Reasonable land bid price 2. Reputable developer 3. Proximity to MRT 4. Proximity to the city fringe 5. Connectivity 6. Nearby future transformation EVERYTHING YOU'LL NEED TO KNOW ABOUT YOUR HOME: https://privatehome.sg/
ūüĎć 0

Property

Resale HDB

CPF

Can a secondary joint owner of a HDB flat use her CPF to help pay for the flat?
Leo Kwek
Leo Kwek
Level 4. Prodigy
Updated on 18 Mar 2020
Hi, to be eligible for change in ownership, you have to qualify under 1 of these 7 eligibility conditions; 1) Divorce 2) Death 3) Marriage 4) Financial hardship 5) Wants to purchase another flat 6) Renounce of Singapore citizenship or SPR status 7) Medical reason Based on the limited details you have given, I presume you don't qualify under any of the conditions. My suggestion to you is to wait until she turns 35 and both of you can buy a resale flat under Joint Single Scheme. She can then use her CPF to pay for the monthly housing instalment. If you really can't wait and need to buy now, you may appeal to HDB when your sister turns 35. However, take note that it is based on a case by case basis and subject to approval. EVERYTHING YOU'LL NEED TO KNOW ABOUT YOUR HOME: https://privatehome.sg/
ūüĎć 1

Giveaways

Property

Condominium

HDB BTO

Resale HDB

Family

Do you view your home as an Investment, somewhere to stay or both? Share your reasons and experiences!?
Leo Kwek
Leo Kwek
Level 4. Prodigy
Answered on 11 Mar 2020
Definitely both and it is also a way to plan for my retirement as written here
ūüĎć 0

Property

Condominium

HDB BTO

Investments

Is investing in BTOs/ exec Condos a viable property investment strategy?
Leo Kwek
Leo Kwek
Level 4. Prodigy
Updated on 11 Mar 2020
You might find some answers to your question in this article
ūüĎć 0

Property

Advice needed on my rental situation as the owner?
Leo Kwek
Leo Kwek
Level 4. Prodigy
Updated on 03 Sep 2019
1. Yes, it is legal to extend another 60 days because it is a continuation from the existing lease. If your tenant is a foreigner, the due diligence needed is to check if he/she still have a valid pass. 2. Yes, your right and interest are protected by the law under equity.
ūüĎć 1

Property

Family

I currently own a resale HDB for the past 2 years but I was thinking to get a BTO nearer to my parent's place. When can I BTO again?
Leo Kwek
Leo Kwek
Level 4. Prodigy
Updated on 28 Aug 2019
Hi you can only apply for a new BTO after the 5 years MOP of your Resale Flat. Once you have completed the 5 years MOP, you can then proceed to apply for BTO Balloting. If you manage to successfully ballot for a new BTO, upon receiving keys to it, you will have 6 months to sell away your Resale Flat. All of the above is assuming that the Resale Flat is your first subsidized housing.
ūüĎć 2

Property

As a Singapore Permanent Resident, what are the best resources to get started on learning the process and costs of buying a Condominium?
Leo Kwek
Leo Kwek
Level 4. Prodigy
Updated on 27 Aug 2019
Hi you can learn about the whole process of buying a new launch Condominium here. https://privatehome.sg/blog/new-launch-condo-in-singapore/
ūüĎć 2

Property

Is it good idea to stay with parents first while waiting for a BTO flat?
Leo Kwek
Leo Kwek
Level 4. Prodigy
Answered on 22 Aug 2019
It is advisable unless staying with your parents is detrimental to your mental health :) BTO can take up to 3-4 years to build and in the meantime you can save up. If you were to rent a place, the rentals over 3-4 years can be substantial and could have gone into paying for your BTO renovation.
ūüĎć 1

Property

Need advice on getting a resale flat after 4 unsuccessful BTO applications?
Leo Kwek
Leo Kwek
Level 4. Prodigy
Updated on 22 Aug 2019
The important question to ask yourself now is: What Are Your Immediate Needs? If your bf and you are looking for a matrimonial home to start a family, then getting a Resale flat will be advisable. Like others have mentioned, BTO is more for couples who can wait while having a place to stay and save up. But this is not your case. The current maximum grants for Resale flat is $120k and Lawrence Wong has recently announced there is upcoming benefits change next month. My opinion is there may be an increase in grant which will be good news for you. https://m.facebook.com/story.php?storyfbid=2903013039740020&id=192130117495006
ūüĎć 0

Property

CPF

Has anyone done this Owner & Essential Occupier scheme? What are the challenges faced?
Leo Kwek
Leo Kwek
Level 4. Prodigy
Answered on 31 Jul 2019
I have not done this myself before but personally know of someone who did. I think there are 2 challenges you might face. Firstly is the burden of obtaining and servicing mortgage loan by the Owner and secondly is the level of trust between you and your fiancee. If the Owner's income is sufficient to obtain the required mortgage loan then this will not be an issue.
ūüĎć 0
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