There is a common misconception that buying and selling HDB flats is not profitable. Today, I’m here to say that is not entirely true! It depends on a variety of factors. With the right knowledge and know-how, you might be able to make your next sale a profitable one. Here are three tips to help you make a good sale on your HDB flats in the future!
1. Buying at the right price
Essentially, as long as you buy your flat at the right price, you will earn a good amount. For instance, if you buy your BTO at a low price, you will earn significantly when you sell it (depending on the market conditions and price which you can sell it at). This is especially so if it’s at a good location!
2. Location matters
This brings me to my next point – location and convenience matters! Most people would want to buy a piece of property near MRT stations for ease of convenience – and that’s unlikely to change anytime soon. Places near MRTs and bus stops are golden areas that should pique your interest.
Likewise, if the condominiums in the area are expensive, the HDB flats in the area are likely to sell at a higher rate as well. Try to gauge how well your flat will sell in the future by scoping out the area beforehand.
3. BTOs all the way
In short, when re-selling BTOs, you will rarely lose money as you are purchasing the property at a lower price. Nonetheless, for resale buyers with no grants available, you’re buying at a significant risk so it is essential you keep in mind the first two points to ensure your purchase and later sales will be a profitable one.
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And there you have it! Keep these three tips at the top of your mind as you scout for the perfect property to purchase and sell. Need more help? Contact me today for expert advice and guidance on property sales and purchases in Singapore!
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