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Singaporean couple made record sale for hdb 5 room flat

Record Sale: $1.2M 5-Room HDB Resale Flat in Boon Tiong

Maelyn Lagman

Maelyn Lagman

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Nicole and her husband spent many contented years in their 5-room HDB resale flat at Boon Tiong Road with their children. But when the kids moved out, their house felt too big and prompted the empty-nesters to list it.

And boy did that decision turn out to be the perfect one for the couple!

On hand to see them through the sale process? An Ohmyhome Super Agent, who was able to secure the sale at a record price of $1,205,500. 

property agents with clients
Ohmyhome has tested and proven strategies to find a new owner for it at the most optimal price regardless of the market situation.

Right-sizing is an integral part of the service that Ohmyhome and its Super Agents provide — one that is centred on achieving what a client truly wants. For Nicole and her husband, it was to sell at their targeted sale price. 

“We found Ohmyhome while searching online,” Nicole said. “When we got to the website and saw the fixed-rate commission package, we were very attracted. So we called 6886 9009, the number at their site, and spoke to a Relationship Manager who matched us with Hui Hui, their Super Agent who specialises in selling HDB flats in the Central region.

“After qualifying various interested buyers, she sold our house to the right buyer at the right time and price.” 

What makes a property desirable?

Finding a qualified buyer of a flat with a price tag exceeding $1.2 million is not easy but a property with the following attributes will always garner attention from buyers:   

“We really appreciated the great service by the Ohmyhome team and the care and attention they provided us.” 

Nicole, Seller

Attractive location: Near amenities

Buyers are generally willing to pay more for a flat that is close to the city and amenities such as public transport, schools, supermarkets, and even malls. 

Nicole’s home fit the bill perfectly: The 5-room HDB resale flat is located in the Central region, near the Central Business District (CBD) and two MRT stations (Tiong Bahru and Outram Park).

Unit size: Large

Larger units, which are highly livable, are hard-sought-after and tend to command a premium in prices. With a flat that’s approximately 1,184 sq. ft. in size, it’s no wonder it was sold at over $1.2 million.  

Newly renovated

A home that’s been newly renovated is usually valued higher. 

Buyers are generally willing to pay more for a flat that is close to amenities and the city.

Nicole’s flat was tastefully renovated, using quality materials and furnishings that cost a total of $150,000. It looked like a luxurious hotel suite with plenty of functional built-in storage spaces, ambience lighting, among others. There was also a built-in sound system in the house, perfect for times of unwinding.

Dive Deeper: Under $50K Home Renovation: Minimalist HBD Designs in 2021

Although the unit only had two bedrooms, the new owners will find that they have the option to reinstate the third room as a bedroom quite easily. 

The remaining lease of the flat is still quite long

Compared to older resale flats, newer ones (around five to six years old) usually command a higher value and asking price because of the longer remaining lease. 

Pro Tip: In today’s market, HDB resale flats in their original condition can also sell with cash over valuation (COV). 

In Nicole’s case, the family flat still had over 93 years of remaining lease.

How did Ohmyhome sell Nicole’s flat at a record price?

Whatever the location and condition of the flat, Ohmyhome has tested and proven strategies to find a new owner for it at the most optimal price for the seller regardless of the market situation. 

Dive Deeper: How Ohmyhome Recruits the Best Property Agents in Singapore

Here’s how their Super Agent achieved Nicole’s family’s target sale price:

1. Listing on portal and others

Hui Hui began advertising Nicole’s 5-bedder on multiple property portals.

“We boosted the listings weekly to bring it more visibility,” she said. “Listings under a corporate account have more priority privileges compared to an individual account.”

Dive Deeper: True Story: An Entire Selling Journey, Virtually From Start to End

2. Communicate directly with buyers

Hui Hui also pro-actively matched buyers to the listing on the Ohmyhome app, which allows them to post the type of housing they’re looking for, including their budget and preferred location.

3. External co-broking 

Ohmyhome Super Agents don’t just co-broke with one another, but also with other agents in the market. For this particular listing, Hui Hui co-broked with an external agent to capitalise on their client network and find the right buyer for her sellers.

She explained, “As our area of focus is in the Central region, we were able to let some of our customers view each other’s listings within the same area. The customers were mostly working professionals and Singapore Permanent Residents who lived in the  vicinity or had the desire to live in the Central region.” 

4: Qualify by ensuring buyers have HLE or IPA

With a pool of buyers ready, Hui Hui then qualified the buyers by ensuring they already had an existing HDB Loan Eligibility (HLE) letter or In-Principle Approval (IPA) from the bank. 

“If they didn’t have one,” she said, “I shared with the buyers that Ohmyhome could assist them in obtaining a bank IPA within two to three days as a complimentary service.”

ohmyhome customer support asian woman relationship manager
Ohmyhome’s customer support team provides a comparative analysis of all the mortgage rates across all the best banks in Singapore.

Ohmyhome’s customer support team—or Relationship Managers—provides a  comparative analysis of all the mortgage rates across all the best banks in Singapore to find the package best suited for the client’s needs. 

They are able to do it faster, without extra cost, as Ohmyhome partners with the biggest banks including DBS, UOB, OCBC, Standard Chartered, Citibank, Maybank, and HSBC. This gives them quick access to the banks and their best home loan rates. 

Hui Hui was able to find Nicole and her husband the right buyers in no time. Her professionalism drew raves from the couple. 

“After our first meeting, it was very obvious that our Ohmyhome Super Agent was well-matched to us,” Nicole says. “She was very professional. It’s one of the main reasons why we didn’t engage other agents. 

“There were also no negative feelings or pressure throughout the whole selling process. Ultimately, we felt supported by a good group of people from Ohmyhome. We really appreciated the great service by the team and the care and attention they provided us.”

Experience the same stress-free experience that Nicole and her husband had with Ohmyhome. Engage Ohmyhome Super Agents today by calling 6886 9009!

For more information on the HDB selling process 

Check out What To Expect From Ohmyhome HDB Seller Agents, or if you want to sell your private property, you can read What To Expect From Ohmyhome Condo Seller Agents

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