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I am a divorcee, turning 35 next year. I am currently staying with my parents at a studio apartment. They had sold their 2-bedroom flat for this studio apartment under HDB

My previous flat was bought with my ex-husband from a resale market and had taken a HDB loan + grant (near parent)

I would like to apply a new flat under the joint application with my parents. Is this possible (knowing that my parents will have to give up the studio apartment)? What are the other considerations ?

Thank you in advance
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2 Answers

Catherine PANG
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Jeffrey Heng
Replied
Hi Candy,

Thanks for posting in PropertyGuru.

Once you have turned 35 next year, you will be eligible to buy an unit under the Singles scheme. Will that be a better choice? Seriously it is quite difficult for us to advice on the spot here as there are much more details that are needed for us to advice you and also or yourself to make a sound decision.

As you have already taken a grant before, when you apply for a new house, you will need to pay a resale levy and you also got to wait 2-3 years for the house to be ready. When you buy a resale under your own name, you will most probably have to pay Cash over valuation(COV)and the price might be slightly higher but you end up having a house and your parents have a house. So you will have to weigh the pros and the cons.

Do let me know if you have any more queries and I will try my best to help you and advice you. Take care.

Best Regards,

Jeffrey Heng
Associate District Director
HSR International Realtors Pte Ltd
Mobile : 9858 1322 
Email : hengjeffrey@gmail.com
Website : www.jeffreyheng.com Read More
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