2 Answers

Ivan Ng
Hi Mr. Sivakumar,

In such an arrangement, if she sells and buys another HDB, she has to include you as an essential occupier for the family nucleus, which means you have to sell away your condo as well. I don't think its what you are looking for?

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

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YT Tan (陈永达)
Good evening Govindasamy,

You will have to dispose off your private property within 6 months if your wife decides to do that.

Why?

Because under HDB regulations, be it owner or occupier, they have to dispose any private property if intend to buy a resale HDB.

If your intention is to hold on to one property for own stay and the other for passive income, then this option might not be a good move.

Do let me share with you what I had done for one of myclients.

They will be selling their 4rm flat (havent fully paid) and intend to purchase an unit for own stay and the other for investment after a few rounds of detailed financial planning.

You might not believe. This plan will be funded entirely by their sale and they wont be coming out with any amount from their savings. They would have reserved funds up to 4 years to finance their homes even if they dont work.

Another clients of mine met me up on 8 august and had already committed to a condo purchase on 14 august even though their HDB sale will most likely ended up to be a negative sale. But with their HDB sale, they will have a reserved funds that can last them up to 3.5 years to repay the mortgage if BOTH of them never work. Their objection is stay near to their parents' place and children's school.

I would or would not say this will be possible for you as well but with detailed financial planning, you will have a clearer picture what is feasible for you.

May I know when will be a good time to meet up?

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

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