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Hello, I am upgrading to a condo, and am considering whether to sell or rent my HDB. Both are financially viable options. My main considerations are 1) which is more economically sound choice in the current climate where the rental market seems weak while the sales market seems strong 2) the difficulty of any future downgrading given that I would be forced to relinquish my condo 3) the loss of a possible retirement income stream (ie. rent) and 4) the potential difficulty of selling at a reasonable price and in time to claim ABSD remission. Thank you
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3 Answers

Good afternoon,

Firstly, you need to understand the balance lease of your HDB unit and the monthly installment which you are paying for.
Then you need to understand how much CPF you can utilize for the purchase of second property and how much loan can the bank disperse to you.
Lastly, ABSD remission does not apply for your case. If you choose to purchase the condo first before selling your HDB unit, ABSD will be payable.

Do feel free to contact me for Further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

Looking for someone who have knowledge and experience on sales and purchase of residential properties?
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Hi, hopefully you managed to sell your unit at a good price then. If, so then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me .

https://www.era.com.sg/R064892F

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97 39 60 40
landonchew@email.com Read More
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