4 Answers

YT Tan (陈永达)
Good afternoon upgrader,

Yes you are right. In fact, you do both transactions concurrently. Dispose off your HDB first and lengthen the whole sale process. With this, you will be able to obtain 80% bank loan or even bridging loan for your purchase and dont have to find temporary accommodation before moving into condo.

Then try to shorten the whole purchase process so you have sufficient time to renovate as well.

If you dont want to wait that long till 2019 to 2021, probably you can look into other projects that are nearby your current choice.

Hope my opinion aids in your decision making.

If you need further assistance or advice in your upgrading plans, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
Property Avenue Pte Ltd
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Ivan Ng

Unfortunately yes, to secure a max 80% loan for your condo, you need to have sold your HDB, as current policies dictate that you can only get up to 80% bank loan for your 1st housing loan.

Is this under-construction project your only preferred choice and you definitely need 80% max bank loan? If so, you can consider to sell your current HDB first, rent for 2-3 years, while waiting for condo to TOP.

If you are flexible with your condo options, you should opt for resale properties (or projects closer to TOP), such as that you can do both sale (of HDB) & purchase (of condo) concurrently. A professional agent would be able to manage your timelines professionally and ensure you have a hassle-free transition with a detailed financial plan.

May I understand your requirements further so I can value-add better to your plans? Hope to have the opportunity to work with you. Thanks and please get in touch so we can discuss further.

Warm Regards,
(ASk Anything Property)
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Yvonne Low
Hi ,

Yes you are absolutely right, I would highly recommend that you sell first, get an 80% loan and rent for the next few years. If you would like to shorten the period of rental, you may consider to find projects that TOP earlier, probably in the near 2016/ 2017.

Let me know if I can assist you in your upgrading plans!

Yvonne Low
Associate Team Director
PropNex Realty Pte Ltd
Geryl Lim
Dear upgrader,

If you have already decided for good that you are only interested in that project, I am afraid the only possiblies are:

1) Sell your existing HDB upon meeting MOP first before making a purchase of the condo, and rent an apartment on the interim basis while waiting for TOP.

2) Hold on to your HDB until the project is due to TOP and hope that there are balance units available which appeal to you before selling and purchasing and work out on the timing for such a move to avoid disruption.

As we are expecting a slew of upcoming projects achieving TOP status in the coming years, perhaps you can spend sometime in researching these projects to see if you are interested and make your move accordingly.

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