Asked by Ms. Eliza Tay
Hi, my husband and I wants to sell our HDB flat once the 5 years OP is up and move to a rented condo for a few years before purchasing a condo as part of our cash is stuck with the flat. What do you think?
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3 Answers
Hi Eliza,
I will recommend to do up a financial plan first to gauge the feasibility of your plan.
If rental outweighs the profits from HDB sale, I will say its a wrong move.
Feel free to contact me if you need any assistance.
Cheers!
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior District Manager
R043025D
ECG Property Pte Ltd
(A Wholly Owned Subsidiary of ECG Group of Companies)
Estate Agent no. L3009759F
Blk 190 Lorong 6 Toa Payoh #05-508 S (310190)
(M): +65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): yttan.stproperty.com.sg/
(W) www.lovelyhomes.com.sg
(W) www.ecgproperty.com Read More
I will recommend to do up a financial plan first to gauge the feasibility of your plan.
If rental outweighs the profits from HDB sale, I will say its a wrong move.
Feel free to contact me if you need any assistance.
Cheers!
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior District Manager
R043025D
ECG Property Pte Ltd
(A Wholly Owned Subsidiary of ECG Group of Companies)
Estate Agent no. L3009759F
Blk 190 Lorong 6 Toa Payoh #05-508 S (310190)
(M): +65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): yttan.stproperty.com.sg/
(W) www.lovelyhomes.com.sg
(W) www.ecgproperty.com Read More
Dear Ms Tay,
I do not quite understand what you mean by cash being stucked in this HDB you have. Should you proceed to sell your existing HDB and concurrently look at your purchase, you can explore using the bridging loan facility for the purchase until you receive your cash proceeds from your sale unless you have zero cash now. Going long term on rental is unhealthy to your financial standing as the money spent can never be recovered.
Regards,
Geryl LIM
Real Estate Director
Masters Of Real Estate (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565 /+65-92787772
Email: geryl7772@gmail.com
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Landed Dynamic Alliance
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I do not quite understand what you mean by cash being stucked in this HDB you have. Should you proceed to sell your existing HDB and concurrently look at your purchase, you can explore using the bridging loan facility for the purchase until you receive your cash proceeds from your sale unless you have zero cash now. Going long term on rental is unhealthy to your financial standing as the money spent can never be recovered.
Regards,
Geryl LIM
Real Estate Director
Masters Of Real Estate (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565 /+65-92787772
Email: geryl7772@gmail.com
https://www.facebook.com/propertyblogshop
https://www.facebook.com/media/set/?set=a.297043923770884.1073741832.284747148333895&type=1&l=90fca1674e
DAG - Dynamic Alliance Group @ www.DAG.com.sg
Landed Dynamic Alliance
Home of *7772 Hotline
We Sold More Than 100 Landed Homes
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now!
**Aspiring to be your preferred partner in real estate**
The Game Is Changing...
International Property Opportunities Await!
Don't Be Left Behind!
More and more investors are seeking offshore real estate for investment. Have you missed out on the last international property fair? Let me know if you are keen in overseas investment.
I would like to thank more than 120 of you who have took out your precious time in attending the original Landed Homes Sales Exhibition on 7 & 8 September. 1 unit was sold with 4 units reserved over this 2 day event. Do look forward to our next edition. Register with me if you are keen. Read More
Morning Eliza,
Upon getting the OTP for your HDB sales, you can opt to work on your purchase for the private property. Why would you want to waste money on unit rental for years before settling into a condo? I would assume you might have gotten the wrong picture. It would be good to work out and understand your financial standing and commitment before moving forward.
Do feel free to contact me for further discussion.
Regards
Mike Lim
96929209
m52i@yahoo.com
ERA Read More
Upon getting the OTP for your HDB sales, you can opt to work on your purchase for the private property. Why would you want to waste money on unit rental for years before settling into a condo? I would assume you might have gotten the wrong picture. It would be good to work out and understand your financial standing and commitment before moving forward.
Do feel free to contact me for further discussion.
Regards
Mike Lim
96929209
m52i@yahoo.com
ERA Read More