4 Answers

askguru expert
Hi there, thanks for writing to us on AskGuru.

There is no right or wrong answer as it depends on your investment objective.

If you are looking to protect the capital value of your home, then a new Built-To-Order flat will enable you to do so as there is a long lease ahead. However, if you plan to apply for a second HDB concessionary rate loan, the housing loan will be reduced by the CPF monies refunded and up to 50% of the cash proceeds from the disposal of the existing or previously owned HDB flat. This is to ensure financial prudence. You can read more about it here: https://www.hdb.gov.sg/cs/infoweb/residential/financing-a-flat-purchase/housing-loan-from-hdb/more-information-on-your-hdb-housing-loan

You also need to pay a resale levy and set aside $90,500 in your CPF your Basic Retirement Sum (BRS).

You will need to do proper financial calculation before you proceed.

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More


Ling CK

From your question my guess is as a Singapore CItizen, you regretted you didn't receive any subsidies from the government from your resale flat purchase.

There are many reasons behind, but the main reason is because of timing.

Just a personal view of your situation.
1) A person only has around 3 to 4 times in his whole life to do an important decision especially when there are lots of money involved.
2) We can only make such move when we reach 21 years old, let say we stop our investment move on age of 65. Meaning there are only 44 years in between.
3) Most of us do not have a hand down from our parents or ancestor thus the earliest move properly is around 30 years old. And this shortens our investment timeline to 34 years.
4) If we can make such a decision every 11 years, means that your investment age should be 30, 41, & 52.
5) So from an investment point of view, you still make a final move at current age.
6) Next question is how much can loan you can get this time and whether it is sufficient to make such purchase.
7) Do you have the financial capacity to continue serving this loan during these 10 years; 55 to 65 years old?

If your answer is positive on points 6 & 7. Then you should make that move.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK

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Nick Tan
Dear Sir/Mdm,

Your current flat is a 4 room flat and you are considering to get a new 4 room BTO as well? If you will reach the age of 55 years old then, you may want to consider downsizing instead as you will need to pay a resale levy and once you reach the age of 55, there will be restrictions on your CPF OA usage and that will mean higher cash outlay.

You may need to have a financial plan draw up to determine whether is it financially sensible to do the switch. Please feel free to contact me so that I can gather more information from you and assist you further!

Nick Tan
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Geryl Lim
Dear sir/madam,

In typical scenario, there is no outright advisable to do so or not as every household are different and they have different objectives in doing so. Basing on your question with regards to age, I am geared towards the direction if it is financially viable to do so, and as what Nick has indicated, we will require to do up the financial calculation in order to know how feasible such a move is.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
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