The clients came over to view one of the units that I was marketing and even though they decided not to pursue with the purchase of that unit, they decided to engage me in their asset progression journey.

Understanding the family:

  • Family of 5 + Domestic Helper and a dog – teenage kids are 12, 16 (both boys) and 19 (girl). Like every other teenager out there, they would like to have their own rooms while the domestic helper is sharing a room with the boys.
  • They would like a bigger space with at least 4 bedroom and looking to stay at that the new home for at least 10-15 years.
  • Their current asset – a high floor 3bedroom units at Gardens at Bishan valued around 1.25mil.
Property Jargon of the Day: Resale Levy

After throughout discussion and working on the numbers:

  • Roadmap into a 10-15 years lifestage of the family – likely their children would have married and moved out – looking at a property that will appreciate further to right-size in 10-15 years’ time.
  • As they have many personal items, they would want to move to their new home without having the need to move to a temporary home.
  • Mapping out their financial while taking into account renovation needs for their new home. For cashflow purpose, they would need to sell first in order not to incur the Additional Buyer Stamp Duty (ABSD) even though it is remissible.

Action taken:


  • Sold their current home at about 30k above valuation.
  • Bought a Cluster House that at date, has increase in valuation of about 100k (based on SRX x-value)
  • Negotiate a timeline where they did not:
    • Have to pay ABSD at all
    • Allow them to renovate and move into their new home without the trouble of needing a temporary home.