Good morning Takeshi,
Something to take note if you will like to hold on to current HDB and purchase a private property:
1) your household must have at least one Singaporean before you are eligible to hold on to HDB and purchase a private property.
2) you must fulfill your minimum occupation period first.
3) you will be subject to 7% additional buyer's stamp on this second property purchase if you are a Singaporean.
4) you are able to take up 80% bank loan as you dont have any outstanding mortgage
5) if you have utilised CPF OA funds in your HDB, you have to set aside $80.5k in your CPF OA + SA first before you can use the excess CPF OA funds to finance this second property purchase.
In summary, your initial outlay will be as such:
1) 5% cash downpayment
2) 15% CPF downpayment
3) estimated 3% buyer's stamp duty
4) 7% ABSD
5) legal fees
6) valuation fees
Probably you can share more on your finances (cash, CPF OA and SA funds) on hand so I will be in a better position to advise you further.
Hope my sharing is beneficial to your property purchase.
May I know how can I continue to value add in this purchase?
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M):
+65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
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