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Hi Guru,

My daughter intends to buy an HDB flat as a single owner as she has reached the age of 35 yrs old. She has only about $100k to finance including the stamp duites, COV etc. She will take up an 80% loan.She definitely wants in an area that is very convienient, ie walking to MRT, eateries etc. With this budget is she able to buy a 4 room flat? She want to rent in out in 3 years time and must be able to get a reaonable rate of return for her rental plus paying for her monthly loan. I think she can go for a 30 yrs loan.

Thank you,
Regards,

Thomas
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2 Answers

Mike Lim
Replied
Afternoon Thomas,

I would require the exact figures, in terms of CPF OA and Cash component, as a better guideline for my advice.
However, from the looks of it, getting a 4 room flat would still be quite possible. To ensure that all things move smoothly, it would be good to meet up for detailed discussion.

Hope to hear from you soon.

Regards
Mike Lim
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  • TZ
    Replied
    Hi Mike,

    Tks for your quick response.

    I will revert back next week.

    A good weekend ahead.

    Cheers
Catherine PANG
Replied
The S&P process needs careful and confident planning in financial, timeline and checklist especially HDB, CPF, bank and lawyer etc. Recently my client 'suddently' bought a dream condo while 'holding on' to a HDB flat. They needed the extra 'funds' for the condo. Hence, after a series of planning, discussion and deliberation, they finally decided to sell their HDB unit. Engage an agent if you expect a consistent S&P process. The stress relief effort is enormous and the commission is insignificant. Check this site: www.catherinepang.com Read More
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