Hi Haron,
If you are Singaporean and have fulfilled the MOP of 5 years period, yes its possible to purchase another private property while keeping the HDB. If you are planning to fully repay the existing home loan, typically the challenge would be the downpayment and stamp duties for the next property, as it can come up to a substantial amount.
To illustrate, for a $1mil private property, breakdown for SC 2nd residential property as follows:
Cash 5% 50k
CPF OA 20% 200k
BSD and ABSD (stamp duties) and legal fees 20% approx 200k
And this is assuming 75% max loan 750k no issue.
You will be looking at approx $450k cash+CPF OA required minimally for 2nd residential property.
It may be challenging especially if you have just pay down the existing loan.
Happy to share more on the feasibility and other ways to possibly structure your next property purchase. I'm contactable at wa.me/6597432395 .
Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng Realtor
ERA Senior Marketing Director
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-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.
-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --
We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.
We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service.
We would never expect such a smooth sailing experience of selling and buying of property. Your professionalism in work will definitely be remembered and rewarded. All the best in your property venture!
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