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I am age 29 (2nd year of PR) and my future husband age 45 this year (4th year of PR) we are planning to buy a resale HDB next year after completed my 3rd of PR on Sep 2022.Our planning is get a 3 room flat (any recommendation with $350k with renovation) and proceed with converted my citizenship on this Sep 2021.Noted that PR only can loan with bank 75% and another 25% by CPF and Cash & 13% of Stamp Duty.Is it worth to get a 3 room flat with zero renovation which sell about $330k? and do i need to follow 5 year MOP as well? lets say after 5 year we are going for the BTO and there is another 12% of second timer which required to pay. Will i even lost more $ due to this resale flat with lease less about 50 year? and another 5 year my husband already age 50 will it difficult to get housing loan?
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1 Answer

Taufik Hussein
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Hi

I really understand your concern on this. There are a couple of issues that first timer needs to consider in making a decision and sometimes, it can be difficult between balancing your current needs and making the best decision financially. Just to note, a SPR household is not allowed to apply for a BTO at the moment and the stamp duty rates for SPR household in not 12% but average about 8%. I also could not quite understand when you said 'converted your citizenship'. Does it means you will get a Singapore citizenship by Sept 2021? If that is the case, you can enjoy housing grants, lesser stamp duty and even more choices in taking up a loan such as going for HDB loan. In order to elaborate more, it is good if we can meet up. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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