AskGuru Q&A Community

Afternoon Jac,

According to the CPF ruling, you will need to have at least 50% of the minimum sum, before you can use the balance for the next purchase, that is if you purchase at the age of 55. (More details, it would be more advisable to approach CPF board)
With $400k, you should be able to get a 2 bedder unit, depending on which area you are looking at. You only issue is how much loan the bank can loan to you, coz of your age and existance of mortgage loan at hand.

FYI
Mike Lim
 96929209 
ERA Read More

min sum at 55 yrs old is $131k effective 01 July 2011
www.catherinepang.com Read More

I would like to add that when you purchased a new EC, for the first 5 years it cannot be sold, so if you have plans on moving within the 5 years, its best to buy a resale EC or private condo.

With your $300k cash, you can easily pay the 20% downpayment of a $1mil over private condo. This is on the assumption that the bank grant you the normal loan of 80% of purchase price.

I think it really depends on your choice of living area. Most ECs are in HDB areas that are further from the city. For private condos, there are much more choices for selection.

Please feel free to email or call me to discuss your financing and property search issues.

Alexandra Khoo
Email: property.alex.khoo@gmail.com
Mobile: 91178727 
DTZ Read More

Hi Jac,

Do you have the intention to keep your HDB flat?
If yes, then buying a Pte condo will be a better option.
If not, you may consider getting a new EC (provided you meet the criteria).

Feel free to contact me if you need any helping hand.

Cheers,
William Koh
 9027 1972 
willkck@gmail.com
www.GuruSg.com
williamkoh.st701property.com
www.myBedokResidences.com
www.ArcAtTampinesEC.com
ERA Read More

Hi, hopefully you managed to get your doubt or query answered. 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

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More