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How this Singaporean homeowner made over $100,000 in today’s market without doing anything complex

Singapore Property Agent | Andik Imran | Real Estate Dad

A while back, I met a family to discuss their next property options.

They were paying about $650 monthly for their 3-room flat.

After 6 years of staying in the house, they wanted to know the value of their home and the cash profit that they can make from it.

I did a price comparison on the prices of housing in their area and found that the range in that area was between $350,000 to $390,000.

Upon calculation, I found out that they will have about $150,000 in cash if they decide to sell their property now.

They were really surprised by the numbers and ask me to re-check the calculations again.

And it’s true. Some of you might ask:

Huh?? What is so special about this that you want to share?

Let’s dive deeper into this couple profile.

The couple earns less than $4000 combined monthly (which is lesser than an average Singaporean income, BTW).

They made a bad financial move and had their whole savings wiped out (who hasn’t made such mistakes before?).

The only asset they had was their matrimonial flat, which they paid $650 monthly.

From almost zero dollars of savings to potentially having $150,000 in their bank.

They did not do anything complex.

They did not do anything risky.

They did not even have the money.

They bought a home 8 years ago within their BUDGET.

And decided to sell it off before the accrued interest started to accumulate.

With that, they are potentially walking away with $150,000 in cash proceeds.

In this case study, you saw that they only did two decisions:

  1. Buy within their budget
  2. Sell before the accumulation of accrued interest gets too high.

They are not some sophisticated investors.

They don’t rely on complex data or graphs to tell them when is the right time to buy or sell.

They decided to take an action that they are comfortable with.

Bottom line

Like anything we buy, just buy within our budget.

You don’t need a lot of information to start investing in anything.

You just need to know your affordability.

Andik Imran

Engage an agent who serves, not sells

ANDIK IMRAN | BSc Business
CEA Reg No: R061801F

9450 8732
PropNex Realty Pte Ltd

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