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Hi all

Appreciate if you can clear my doubts.

I am currently selling my HDB and will be buying a private property. I understand that HDB completion takes 5 months and private completion takes 10-12 weeks. Of course I plan to renovate the new house. I thought the difference in completion timing will give me allowance to renovate the new place but some of my friends are saying that I will need temp accomodation, which I don't understand.

I am waiting for sales proceeds from my HDB to fund the new house. Will getting a briding loan actually help in anyway?

Thanks for your help.
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1 Answer

Geryl Lim
Replied
Hi Eric,

FYI, HDB transaction does not take 5 months nowadays. If you log on to HDB website to check on the earliest 1st appointment date, and assume that your HDB has just been sold and option to purchase exercised, you are looking at another 1 more month by estimation from date of first appointment to complete, therefore this whole process actually takes about 2 months or so.

Judging by this, you will really need to plan out your schedule accordingly to avoid having any voids in between the sale and purchase completion, as well as the time required for your renovation.

As for financial matters, you will require to plan out the budget and check that you have the cashflow to support the purchase and renovation upfront.

If you require further assistance, feel free to contact me through my mobile or email which is stated below.

Thank you and have a pleasant week ahead.

Regards,
Geryl LIM
CEA Reg No R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More
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