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Hi,

Yes it may be good to do the right sizing before 55 if you intend to use more CPF for the next property. Reaching 55 your CPF OA and SA will be combined to form your RA retirement account and part of the OA have to be "locked" for retirement and can't be used for housing purposes.

Sure happy to assist as I have worked with various similar cases.
Do note that resale levy is payable if the BTO is your 2nd subsidized flat. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

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Dear Sir/Mdm,

It will be best to do up a financial plan first and see whether it is worthwhile to do the switch. This is because it may not be financially sensible to downgrade. Once you have a clearer picture, then you can make an informed decision.

Please feel free to contact me so that I can understand your situation better and assist you further.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

Visit my website to get to know me better:
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Testimonial from Satisfied Clients

“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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Hi Sir/Madam

I will be glad to assist
I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Dear sir/mdm,

If cashing out of your current property to downsize to a small unit is your intention, then we will need to look into the potential selling price for the current 5 room flat as well as the amount of CPF you have utilised for this flat including of the accrued interest. I have met a number of prospective sellers who are unable to sell due to negative sale despite having the HDB fully paid for, because the amount of CPF used including accrued interest is higher than the potential value of the flat, thereby leaving no cash on hand after the sale.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi,

If you have the intentions to downgrade, I would advise you to do it before you turn age 55. Because if you passed aged 55, you will need to set aside the Basic Retirement Sum after the sale of your current flat.

Another positive factor should you choose to downgrade is that you may get to enjoy the Proximity Housing Grant (up to $30k) if you're staying with your Mother.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More