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What Singles MUST Know Before Buying First Property

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My passion is to help singles to own their first property as young as possible.
I got my first property at age 26 and I believe everyone can start young too.
Do you know you can also buy a property with low budget/funds.
In this video,
I compiled all the questions asked during my facebook and youtube livestream on Feb 2023.
There are more than 10 questions and I will be answering one by one.
Hopefully this video will provide ideas and plans to kickstart your investment journey.
☎️ Contact me for 1-1 program info bit.ly/savvywa
🔥 Upcoming property webinar "Get your first pot of gold from your 1st property!" 🥳
📌 bit.ly/savvyrich3
🎬 Register now!

Опубликовано:

22 авг 2024

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Комментарии : 175

@savvyericchiew Год назад

☎ Contact me for 1-1 program info bit.ly/savvywa 🔥 Upcoming property webinar "Get your first pot of gold from your 1st property!" 🥳 📌 bit.ly/savvyrich3 🎬 Register now!

@LXZJ Год назад

The advice should be "find a supportive spouse who will let you buy private property" 😂

@savvyericchiew Год назад

Totally true!! 👍👍

@henrylee1269 Год назад

ESPARINA Residences is probably the one EC, 200m to MRT ,50 m to Sengkang Grand Mall and new 9 yrs old property, 9 stops to Orchard

@jasminetan0506 Месяц назад

Great video! Many essential questions are answered !

@savvyericchiew Месяц назад

🙌🏼🙌🏼

@khaingthazin2625 Месяц назад

Thanks so much, Eric.. It is very useful for a single like me.

@savvyericchiew Месяц назад

Time to do a new video on this 👍

@dreamlify8 3 месяца назад

As a sandwicher of salary 7.1k cannot BTO, cannot HDB loan. Assets 200k. Better to go with 600k HDB 2BR or 700k resale condo 1BR?

@savvyericchiew 3 месяца назад

Your 200k includes cash and Cpf?

@janjanjanjanjanjanjan 5 дней назад

Hi Eric! In my early 30s now - only able to afford 1BR on my own, would you recommend to start with 1BR first or save up for 1yr to go for 2BR?

@savvyericchiew 5 дней назад

Need 310k for 2br 👍

@zc8077 Год назад

Sianz..i just bought a hdb then saw your video…didnt know u also have a video for singles..usually hear buy one sell two in your videos..now have to wait for 5 yrs then able to engage u..siao liao

@savvyericchiew Год назад

Sorry I’m late 😢

@yimonthant2010 Год назад

Nice watch.. Thanks for the advice

@savvyericchiew Год назад

🙏🏼🙏🏼

@laipenglow6535 Месяц назад

Hi Eric! trying to start my journey although is a bit late now. Single SPR in late 30s, do you advise to go for resale 1-2bedder or new launch? does it mean I have time limitation (ie after 45yo, the rental might not cover mortgage)

@savvyericchiew Месяц назад

You are super young la. Rental can cover below 45 of age.

@cherryzhangying8145 Год назад

If I had watched your video on my home purchase 6 years ago , I don’t think I will lose money upon selling ( I never chance upon your video upon selling and engaged a property agent who is really not ethical) . Never seen such a property agent like you who gave such constructive advice and so smart in property market . if I’m going to buy another property , will definitely look for you .

@savvyericchiew Год назад

Sorry to hear about your investment. Not all agents are bad though. Hope you buy a good investment soon. Anyway I’m not a property agent 😆

@paul_bell Год назад

I came across this video and it was good with humour and contructive advise and you are so direct to the point. Yes I am surprise that you are not an agent. You should be one. Anyway good job and keep it up. 😊

@savvyericchiew Год назад

@@paul_bell thanks man!

@Alexusores Год назад

I have had the 1-1 target long time ago since uni days. Now the absd makes it impossible as single.

@savvyericchiew Год назад

Everything is possible. Starting is the way 👍

@gomugomu4489 Год назад

Dual key? Stay with parents? Find layout that can split yourself? When there is a will, there is a way. Do some pre consultation with Eric first lor..

@Alexusores Год назад

I already exited my first round few months ago, waiting to enter second round. Like Eric said the +1 here with the ABSD increase is the challenge. I am a single PR with no family here.

@savvyericchiew Год назад

@@Alexusores hope you got a good profit! 👍

@slim1871 Год назад

Hi Eric thanks for your super helpful content 🙏🙏 You got any thoughts on Daintree Residence?

@savvyericchiew Год назад

Although 1st timer profit, I don’t like the resale as there are too many condos there already 🥲

@slim1871 Год назад

@@savvyericchiew Thanks! If my expected holding period is 5-8 years for own stay, do you think there is substantial room for upside?

@savvyericchiew Год назад

@@slim1871 will not lose but you won’t make a lot compared to other areas

@slim1871 Год назад

@@savvyericchiew Ok thank you sifu 🙏🙏

@geenaf1020 Год назад

Liked the video because of Bom Bom!😂

@savvyericchiew Год назад

I will feature him more often! 😆

@cloven1691 Год назад

Hi Eric, u often mention the more we leverage the better, but with 4% interest on loans, won’t it pretty much cancel out the rental income?

@savvyericchiew Год назад

You can play with mortgage calculator to match rental with mortgage interest. If I’m not wrong you need to be at 7-8% to match rental

@CSB-pu9mc 9 месяцев назад

Very good information. Being single this is really helpful.

@savvyericchiew 9 месяцев назад

Hope to see you own 1 prop soon! 👍

@felforme 3 месяца назад

Hi Eric, appreciate if you can share if the budget is slightly more than 800k, are there decent 1BR condo out there as a first property? :)

@savvyericchiew 3 месяца назад

If you need me to recommend good projects and guide you to buy at my target price, consider 1-1 consultation program. Get details from my team here bit.ly/savvywa

@anthemger 9 месяцев назад

Hi Eric, will u buy a resale hdb for a good location but old flat or lousy location but new flat? For singles with intention to rent out infuture.

@savvyericchiew 9 месяцев назад

New for sure 👍 Remember it’s all about capital gains and not just rental income 😉

@alissaong8659 19 дней назад

Me (29) and my single friend (30).. ~400k cpf/cash combined income 18k. Do you recommend 3b2b ex EC?

@savvyericchiew 19 дней назад

400k max budget is 1.4m. Yes 3b2b ex EC

@priscillaDLCZ 9 месяцев назад

Eric nice video for us who is single another informative video I want to buy a condo can you suggest?

@savvyericchiew 9 месяцев назад

For recommendations, you can consider my 1-1 program. My team will send you info bit.ly/savvywa

@jackywong4806 Год назад

Hi Eric, what are those ex-EC near MRT/amenities? Which ex-EC would u recommend? Thanks

@savvyericchiew Год назад

Singapore so small. Try to find it 😆

@prophunter8865 Год назад

Esparina!

@jackywong4806 Год назад

Brownstone?

@lauratan7674 Год назад

Eric huat kueh! Do you think prime location BTO are cai tao anot? Like need hold 10years and v hard to exit like CCR condo?

@savvyericchiew Год назад

Just need to factor 15 years before you can be upgrade. It’s hard to exit because by that time very cute already 😆

@JJboy4Flower 8 месяцев назад

I need some advise. I’m single and earning about 3k+ per month. What kind of property should I go for ? BTO VS 3 room flat resale? If so how much do I need on cash and also CPF. Any advise pls. I’m new to this. I’m at my late 20s

@savvyericchiew 8 месяцев назад

Depends on how much cash and Cpf you have

@JJboy4Flower 8 месяцев назад

@@savvyericchiew can I ask how much I DM u to further ask u for advise and suggestion?

@savvyericchiew 8 месяцев назад

@@JJboy4Flower Facebook.com/savvyeric

@donrickles89 5 месяцев назад

Hi Eric. Is the joint partner you mention still applicable for first property?

@savvyericchiew 5 месяцев назад

Best is to buy alone. If not enough funds then can can find one more to partner and buy in 2 names 👍

@janicesim1446 Год назад

Hi Eric, may I ask will you recommend to buy The Myst for singles first time investment?

@savvyericchiew Год назад

Let me do the review first 👍

@janicesim1446 Год назад

⁠👌🏻thanks

@andyyan7525 Год назад

Eric bro, I just sold of my previous condo and waiting to get my settlement profit in about 1 weeks time. Please 🙏🏼 tell me what new launch condo can I buy as a single , which you think wil very likely have a very high capital appreciation ? Grand Dunman good? I am looking at a budget of 1.45 million.. thank you again Sifu

@savvyericchiew Год назад

You can message me at fb.com/savvyeric

@UKitAMC Год назад

Hi Eric, just got my PR and intending to buy my first property with up to $1.4 mil budget, would you recommend resell EC or straight to condo?

@savvyericchiew Год назад

With 5% absd, I don’t think it’s possible to buy a 3br condo now. Only resale ECs is possible with your budget.

@UKitAMC Год назад

@@savvyericchiew yeah I’m thinking Resell EC. 3 Br / 2 Br or a 2x2 condo , thoughts?

@nil-xp8gt Год назад

i thought EC 10 years after TOP then is considered private? newly MOP-ed only like 5+years old havent privatised yet i thought? correct me if im wrong paiseh

@savvyericchiew Год назад

MOP is semi private which can be considered as condo. 10 years is fully privatised where foreigners can buy.

@nleo6748 Год назад

Why is hdb resale not recommended? You didn’t give explanation

@savvyericchiew Год назад

The upside is slower than resale condo and EC

@ryanliew3372 Год назад

Eric ah... what is ex-EC? not the same as resale EC?

@savvyericchiew Год назад

Yes it’s resale EC 👍

@littleocean93 10 месяцев назад

Why 2B2B better for exit?

@savvyericchiew 10 месяцев назад

2 toilets make more money ✌️

@chinminghao9192 Год назад

Is your advice still applicable if one (a single) wants to buy a property to stay, and no intention to rent it out 😅

@savvyericchiew Год назад

Yes it’s the same strategy 👍

@janettan8746 Месяц назад

Can single buy EC.

@savvyericchiew Месяц назад

Yes ex EC, those after MOP ones 👍

@LynnaToh Год назад

Hi Eric, what do you think of Trizon?

@savvyericchiew Год назад

I only remember it caught fire many years ago 🔥

@hcmm23 Год назад

Hi Eric , for 50 yr old , inv property, which option is wiser ? Get 55pct loan with 25yr tenor (Not much leverage) OR 75pct loan with 15yr tenor (huge mthly installment )

@savvyericchiew Год назад

Both are fine. The best option is 75% loan with 25 years tenure which I can do 🤫

@richirick5778 Год назад

I can only think of the brownstone. Near MRT and shopping mall

@savvyericchiew Год назад

Is that a mall? Paiseh I didn’t go before 😆

@prophunter8865 Год назад

Brownstone where got shopping mall there.. Northpoint is very far away 😂

@savvyericchiew Год назад

@@prophunter8865 maybe referring to Canberra plaza?

@prophunter8865 Год назад

@@savvyericchiew that one not shopping mall…

@WarChild86 Год назад

Eric need to take plane to reach Canberra

@paulcheng6591 Год назад

Is buying a subsale 2+1 (e.g. Treasures or Florence) good for a first time single property buyer? This is the max I can afford that is new and not too small lol.

@savvyericchiew Год назад

There are lots of resale options for your budget 👍

@paulcheng6591 Год назад

@@savvyericchiewwhich would you recommend?

@savvyericchiew Год назад

@@paulcheng6591 depends on many factors, age, income, buying power. Can consider 1-1 program 👍

@paulcheng6591 Год назад

@@savvyericchiew thanks! I’ve message the number. How much does this 1-1 thing cost?

@nitemoonz 6 месяцев назад

Y wont u recommend singles to buy resale HDB?

@savvyericchiew 6 месяцев назад

Upside is not as good as condo

@jeannie3330 Год назад

Is the Trizon 3BR resale a good buy now?

@savvyericchiew Год назад

Depends on entry price

@buffalo369 7 месяцев назад

Don't buy Trizon unless u plan to stay there forever. Super hard to sell .....

@andysaw9443 Год назад

Hu Eric how is industrial property still a good investment

@savvyericchiew Год назад

Quite a boring investment 😆

@andysaw9443 Год назад

@Eric Chiew thanks what you recommend if residential is not an option due to absd :)

@savvyericchiew Год назад

@@andysaw9443 upgrade your Resi 👍

@thsim88 Год назад

single got 1 4rm hdb n 1 2beder condo, both fully paid,so what is the way forward?condo rent out n hdb spare room rent already

@savvyericchiew Год назад

I hope you didn’t pay ABSD for your condo. You can stay put or explore to sell both to get a 3 bedroom dual key for more capital and rental upside 👍

@thsim88 Год назад

@@savvyericchiew 3% absd,so is still ok

@SiewLingOng-jd7iq Год назад

Singles reaching age 55 should get new launch or resale ?

@savvyericchiew Год назад

Depends on budget and affordability

@samuelfootsehseng4514 28 дней назад

did you buy any commercial properties?

@savvyericchiew 28 дней назад

Yes a few 👍

@samuelfootsehseng4514 28 дней назад

@@savvyericchiew so your take is starter should always do residential (wise picked) first, cos need to start with a win. Those commercial and industrial talk later..?

@savvyericchiew 27 дней назад

@@samuelfootsehseng4514 upgrade your residential to the max first. 2 x 4br 👍

@anguslou5640 Год назад

Can I ask . What business you do.

@savvyericchiew Год назад

I do coaching on property investment 😆

@chenbryant137 Год назад

haha I started late, but better than not starting :P 😄😄😄

@savvyericchiew Год назад

Started means not late! 👍👍

@chenbryant137 Год назад

@@savvyericchiew Thanks for the confidence and help during the 1-1!

@joycehe6980 Год назад

Does it mean that PR is not suitable/advisable to buy property for investment as he has to pay ABSD 5%? Thanks

@savvyericchiew Год назад

PR first property with 5% ABSD is fine. 👍

@put4ng1n4m0 Год назад

Where are the 123 EC near mrt and w amenities?

@savvyericchiew Год назад

🤫🤫

@henrylee1269 Год назад

Esparina Residences is probably nearest 300m to mrt, 100m to Sengkang Grand Mall and newest 9 yrs

@eddyng6934 Год назад

I am not single but looking to buy regent park condo , May I know is it advisable to buy

@savvyericchiew Год назад

Super old and won’t be able to enbloc due to small land and many units 😞

@JundaOng Год назад

There is a property selling 20% below market, but seller request for 10% OTP and could be facing bankruptcy. Any golden advise for this high risk opportunity?

@singaporepropertytips Год назад

I know which property this is!! 🥺 Got to do some background checks to make sure you do not get harassed if and when you do decide to take the unit and move in!!

@savvyericchiew Год назад

Sounds like a 💩 deal to me 😆

@JundaOng Год назад

@@singaporepropertytips yes got to do checks first, before OTP. Should I even take first step and pay lawyer? 🤔

@JundaOng Год назад

@@savvyericchiew I’m trying to find gold amid the 💩 😂

@singaporepropertytips Год назад

@@JundaOng the lawyer may only be able to advise you about any ongoing lawsuits! Not any pending ones or whether the owner owes anything to loan sharks / debt collectors 😰 because you know the seller is in desperate need for money, you run the risk of them possibly issuing more than 1 Option To Purchase for the house. So pretty risky 🫠

@cybergod77 Год назад

Pls share the answer to your last Qn, thks!

@savvyericchiew Год назад

Which one?

@cybergod77 Год назад

@@savvyericchiew where can I make money in the shortest time

@savvyericchiew Год назад

@@cybergod77 depends on budget 😉

@kelvynchin1968 Год назад

hmm! what happen if you buy with a like minded friend, then put two names, then market downturn cannot exit lei. ? Then two names stuck. Then your friend want to marry (another person, not you..) then cannot book BTO then die die want to cut loss then how lei. Like minded friend , 3 years later become enemies. I don't advise buy property with friend (unless the real plan is to marry that like minded friend LOLs). Save the money, then find a partner, marry , then buy good BTO or EC.. would be better plan. :)

@savvyericchiew Год назад

Singles can’t buy EC or good BTO 😢

@kelvynchin1968 Год назад

@@savvyericchiew I meant, kahwin first la then buy BTO or EC. 😎 this is the "standard" way mah