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Hi, my question has 2 parts.

1. I bought my resale HDB in 2004, without grant / subsidies from HDB, and still servicing loan with private bank.

Are we allowed to rent out whole flat, and purchase / stay in private based on old policy (prior Aug 2010).

2. I believe with existing loan, if I purchase new private property, can only loan 60%.

3. Any recommendations for condos TOP 2009/10/11, 2-3 bedroom, around $800-900k close to girl's primary school.

Thanks.
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2 Answers

Mike Lim
Replied
Afternoon,

The answer to the fist part of your question is "YES" if you have stayed in your current unit for more than 5 years. Meaning that you didn't apply to rent out your unit, from the time of purchase till now.
The answer for part 2 is correct, and I believe you have done your homework.
The answer for part 3 is unlikely. To purchase a 2 or 3 bedroom unit, in most area, will require at least $800k plus. TO be near to girls school, which is very specific, you will need at least a good $1m to $1.2m

FYI
Mike Lim
 96929209 
ERA Read More
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  • SH
    Replied
    Hi thanks for the reply. Appreciate it. What about older condos (10-15yrs). Would that open up my options more?
Richard Wan
Replied
Hi,

I have a 2 bedroom unit at $889k within 1km of Tao Nan School and CHIJ (Katong).

It is 635sqft and it will TOP in 2013.

Do let me know if you need more information.

Thanks!

Regards,
Richard Wan
Black Diamond Real Estate Group
richardwan@live.com
 94363793  Read More
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