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Hi,

I would like some advice regarding getting a flat in the open market.

Me and partner are getting marry in June this year, and thought of getting a resale flat as we wanted to be independant rather than staying with in laws.

As this will be our first time buying a flat, we would like to get advice as financial is the main priority for us.

What is the advantage/disavantage to buy a resale flat for first timer.

Please advice.

Thanks,
Halim
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1 Answer

Jaslin Poh
Replied
Hi Halim,

Advantages of getting resale :

1. Shorter waiting time compare to new BTO flat
2. Various Govt grants available (like living near parent 40k off)
3. Able to choose your favourite town to stay

Possible disadvantages :

1. Require Cash Over valuation (COV)
2. Additional cost to renovation works
3. Uncertain if that flat is free from loan shark harassment

Afterall it got to depend on your financial state also.

There are more info in HDB web under "buying a flat". You may wish check that out or contact me 8333 9131  . Rgds Jas Read More
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