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Hi, my wife and I plan to sell our HDB and buy a resale HDB for living and a condo for investment. We are <35 y/o. How do we do this? Can my wife buy the resale by herself and list our toddler as an essential occupier, or must she wait till 35 y/o?
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4 Answers

Hi

Unfortunately you cannot purchase the next resale hdb with just your wife sole name + kid, as you need to form the family nucleus required by hdb and both you and your spouse names have to be included. This means a fresh 5 year MOP again before you can purchase the private property.

Alternatively you can go for 2 individual private properties. Or 1 hdb (under owner occupier arrangement), wait out 5 year MOP, then purchase the private property under occupiers name so that this way you can own 1 hdb and 1 private individually (still feasible based on current regulations). Of course the final way is to just pay the 20% ABSD to buy the private property if you intend to keep the current hdb.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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As husband and wife, both names must be in the HDB unit, even if only 1 of you is the owner, the other party will need to be an essential occupier and therefore a fresh 5 years MOP will be applicable on the resale HDB.

In such event, I believe it will be more beneficial to look into purchasing a private residential immediately instead of losing out time on loan tenure with a fresh 5 years MOP for the resale HDB where possible.

——

I have been in the real estate business since 2009, with more than 15 years of experience serving the Singapore real estate market. Check out the EdgeProp featured article on myself recently at https://www.edgeprop.sg/property-news/geryl-lim-leading-landed-real-estate-heart-hustle-and-harmony

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 15,900 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

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Hi Sir,

I have assisted my clients who have the same intention as yourself to structure their HDB purchase so that one of them can purchase a private property in the future after the MOP. She can purchase under her name as an owner and name you as an essential occupier, there is no need to wait till she is older than 35 years old.

Please feel free to contact me so that I can explain to you in greater details the considerations of proceeding with such a move.

Regards,
Nick Tan
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B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
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Hi, appreciate your sharing. Upon purchasing another HDB you are require to await 5 years MOP before the occupant able to purchase the private condo. Able to meet up to share the current options in today market.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More
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