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Hi,

We own a resale 4A HDB flat in Tampines, just fully paid and met the MOP. We wanted to downgrade to a new 3 room flat under DBSS Central 8. But, we have exceed the income ceiling, is it advisable to lower our income just to buy a new flat? In fact, the whole idea is to cash out from my current flat and resale 3 room is not our ideal option as it may left with 70yrs lease if we wanted a unit in Tampines.
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1 Answer

Hi Troubled,

I believe you are in an enviable position to many of us, with a fully paid HDB. The idea to cash out is good, but to lower your income level just to purchase a brand new HDB due to income ceiling, I am not sure how are you going to do that or is it a good move.

It maybe a slightly older flat with 70yrs or less for resale 3rm, but looking at the older estates like Bukit Merah and Toa Payoh, they are still commanding a healthy value for resale transactions.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More
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