Couple Relocating From China Back To Singapore

Estimated Net Worth: $5.5M terrace house (excluding capital growth and inflation).

Profession: Businessman (husband) and Self-employed (wife)
Age: 48 (husband) and 34 (wife) as of 2024
Family: Couple with 2 young children (2024)
Net Worth: Children are staying at sister’s HDB flat, no property ownership

Target Net Worth (Real Estate) upon Retirement:
Fully paid terrace house in the East Coast area

Immediate Needs:

• 3-bedroom condo in the East Coast area
• Open to either freehold or newer leasehold

Budget:
Under $2M, with sufficient cash and CPF monies for a 25% down payment ​and buyer stamp duty estimated at $600k.

Concerns & Challenges:

• Prefer newer developments with full condo facilities
• Prefer Freehold over leasehold
• Prefer ground floor units with high ceiling, overlooking the pool with a landed ​feel

Solution Implemented (After Audit):

• Purchased a ground floor brand new freehold 3-bedroom condo with high ​ceiling overlooking the pool in an integrated development at a very good value ​of under $1.85M in District 17 (2022)
• Collected keys on 1Q2024 and plan to cash out from capital growth later on

Shortfall from Target Net Worth:

• Target Property Cost: $5.5M for a decent terrace house in the East Coast area
• Required Down Payment and Stamp Duty: $1.65M in cash and CPF monies
• Shortfall: $1.65M – $600k = $1.05M

Future Solutions:

• Sell the 3-bedroom condo in 2-3 years’ time to purchase either xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx in the East Coast area
• Savings over 4-5 years through business returns
• Capital raised from both properties
• Finally to purchase their terrace home before he turns 55 years old

By following this strategy, the couple aims to achieve their target net worth ​upon retirement and secure their desired landed house before reaching 55 ​years old and to fully pay down their landed property before 65 years old.