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Hi Property Gurus, I am turning 55years old this year and am interested to downgrade to a HDB Studio Apartment from my existing 4RM. May I know what are the things I need to lookout for? Appreciate your feedback. Thanks.
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1 Answer

Mike Lim
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Afternoon Nani,

Upon reaching 55 year of age, your OA and SA will cease to exist, replaced by RA. Hence upon application, it's good to get HDB and CPF board to confirm on the amount that you are eligible to use from your RA.

You also need to know how much you will get back from the sales of your 4 room flat, be it in cash or CPF component. Your repayment ability for the loan should also be one of your worries.

All the best.

Regards
Mike Lim
 96929209 
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