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Afternoon,

If you are looking at resale EC or private condo, you can keep the existing HDB unit. Since your current unit have being paid, you will be eligible for 80% loan. ABSD of 7% is payable by cash. As for the CPF component, you can only utilize OA after setting aside the required minimum sum.
Based on combined income of $7.5k and the amount of cash and CPF you have in hand, you might be eligible for 2 bedroom condo provided that your credit record is good. Even with that said, nobody can predict the market in two years time. It might be better to work on it when the time is nearer.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,

It may be a bit premature as any plans can only be implemented 2 years down the road, where a lot of things can happen in the interim.

For now, its possible to buy private and rent out hdb, provided you are SC and have met the MOP. That being said, the regulations can change between now and then. Costs are quite high as well given that ABSD is still applicable.

For ECs, yes if you purchase, you are required to sell away your HDB and a resale levy is payable. For 3-rm its 30k cash from your sale proceeds.

The best option involves a fair share of subjective criteria which only you know best at that point of time. Perhaps we can touch base again when its closer to the MOP fulfilment date. Thanks and look forward to value-add to your plans when the opportunity comes.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
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Dear sir,

If we were to base on the current regulations:

1) Yes
2) If you buy brand new EC, you will be subjected to resale levy, and you will be required to sell your HDB latest by 6 months after collecting your keys for EC purhcased.
3) It is still relatively premature to forecast your best option moving forward, but I will highly suggest you to look into investment options (due diligence to be done please) in how to grow your wealth over the 2 years period such that you will have bigger amount of cash on hand for the purchase and can assess more different options depending on your returns.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Claim your free home report today at http://bit.ly/ClaimFreeReport.

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

Room Rental @ https://www.facebook.com/SGRentARoom/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

My self introductory video on https://youtu.be/6UfrCOCB6Mg

Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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