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Hi There

Facing an inbetween issue, therefore hoping i can get advice from here

I am 41yo and currently own a 4 room HDB since i was 27yo. Criteria back then was that my father and grandmother cannot own a property

Fast forward now, married with a 4yo, if there is a way i can purchase a HDB of my own?

Some ideas or solutions that we have come up with:
- Transfer my current property to my dad and we shift out. But my dad will need to pay back my CPF (of about $200k in cash) and also the remainder of my loan (of about $150k). A very big sum that is out of our means

Question: is there a way we can do this transfer without having to cough out $400k in cash? Is there a way he need not pay back my CPF and allow me to carry on repaying the balance of $150k. Me and my wife can take up another loan if we plan to buy a HDB?

Or we can sell away our current place. But question :
- can we purchase 2 x 4 room, 1 using my dad and another using my wife and myself? Reason being that i rather my dad not stay alone himself should anything were to happen
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4 Answers

Hi,

I think selling away the current place seems more feasible, and I have worked on a similar case before. You may want to explore purchasing 2 hdb properties that are near to each other, perhaps 1x 4-room for yourself, and an affordable 2-room or 2-room flexi for your dad which he can finance on his own sole name. That way, can take care of each other as well and he can aged in place.

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 Realtor
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Dear Sir/Mdm,

Transferring the HDB to your dad may not be feasible because he will not be able to secure a loan to pay back your CPF and also take over the remaining loan amount. Therefore, selling this current place, and buying 2 HDB units, one under you and wife and the other one under your dad may be a better option.

Please feel free to contact me so that I can go through with you the figures and ensure it makes sense before you proceed further.

Regards,
Nick Tan
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Robbie Chen Chee Howe
Hi,

Based on your described situation, I would think that the most straight-forward method would be to sell off the current flat and then purchase either 2 HDB flats, or a 3Gen-flat.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Hi

This is a common problem affecting some HDB sellers. The most clear cut solution is to sell off your plan and at the same time, plan for housing options of both you and dad. However there is a conflicting statement when you mentioned you want to purchase a flat on your own but do not wish for your dad to stay alone. Maybe you can allow me to look at your situation in more details and I can advise you on the best solutions for this. Do contact me at 93375051  for a free and non obligatory discussions on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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