AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
I am a divorcee with a kid under my custody. I am 36 years of age. I sold my 3room flat which i purchased directly from HDB under the low income scheme in 2002. I have never purchase or rent a flat since. I really wish to buy a flat but looking for anything which COV is below 6k. I called up HDB to enquire about buying a new 4RM flat but were told that I will have to pay for a levy fee which is around 20k as I sold my old flat for a profit. The problem is that it is sold in 2002 for a profit of 15k only and the levy which is imposed is 20k. Is there any way that I can have a place to stay with my kid. HDB advised me to purchase a 4RM flat from the open market in which I cant afford the high COVs. Please advise. Many thanks.
0 •
671 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

Ken Tan
Replied
Hi Hancai,

The best advice that i can come up with.
If you are lucky enough to get the new 4 room flat at levy of 20k, I would suggest that you go for it.

Reason, current 4rm have a higher valuation as it is in established estate. The COV are also much more than $20k. For example, you can get a new 4 room at $245k, including a $20k levy, that would be $265k. The lower priced HDB in Jurong and Woodlands already have a valuation of more $320k just based on valuation.

Ken Tan
ken_tankw@yahoo.com.sg
 96461490  Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions