Navigating this situation can be overwhelming, but there are several things to consider:
You need to file for divorce first and obtain the Final Judgement before applying for the HDB Flat Eligibility (HFE) letter. The divorce also affects the sale of your current flat>> the sale proceeds will be divided according to the Final Judgement.
**Selling Your 5-Room HDB:**
* **Pricing:** While recent transactions are in the $650k-$680k range, your renovated flat with a good view may justify a higher asking price. It's worth trying for $700k, but be prepared to adjust if necessary. Consult with a property agent for the latest market insights and pricing strategies.
* **HDB Grant:** Since you have already MOP-ed, this won't be an issue.
* **Costs:** Factor in agent fees (if you use one), seller's stamp duty (SSD), and outstanding HDB loan amount when calculating your net sale proceeds.
* **Emotional Considerations:** It's understandable to feel attached to your home. Take your time, process the emotions, and focus on finding a new place that will suit your needs and preferences.
**Buying a Resale 2/3-Room HDB:**
* **Budget:** With an annual income of $50k-$55k and the sale proceeds from your 5-room, you should be able to afford a decent resale 2/3-room flat. Get a HDB Loan Eligibility (HFE) letter to understand your budget and loan quantum.
* **Location and Amenities:** Think about the neighborhoods that appeal to you and the amenities that are important, such as proximity to work, transport, family, or leisure activities.
* **Renovation:** While finding a ready-to-move-in flat is ideal, be open to considering units that need minor touch-ups. This could give you room for negotiation on the price.
**Additional Considerations:**
* **Grants:** You might be eligible for the Singles Grant and possibly the Proximity Housing Grant (if buying near your parents or children). Research and apply for relevant grants to maximize your budget.
* **Legal Matters:** Consider consulting a lawyer to understand the legal implications of the divorce on your property ownership and potential future claims.
**Important Note:** Don't rush into decisions. Take your time, research thoroughly, and seek professional advice to make informed choices that will ensure a comfortable and financially secure future for yourself.
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
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"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
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(***) You can check out my reviews here:
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For buyers, I offer solutions for sourcing resale and new private homes at no charge.
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I also have partners to assist with mortgage home insurance matters.
Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!
*** You can reach me at my Singapore mobile: (65) 98 56 92 55 or email me at Able.selling@gmail.com.
From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”
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