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Hi good morning!

As you are only eligible to purchase a private property and sell your HDB only after you have fulfilled your MOP, I will advise you according to current rules and regulations. It might change in near future.

1) Since both of you have fully paid the flat, you will be able to obtain 80% bank loan (still will be subject to total debt servicing ratio) for your purchase.

Best to approach a banker for advice on your in principle approval when you are about to start house hunting probably Jan 2016.

2) As you have almost a year more to source for more options, you should be more open minded about other projects in D19 as well. They are a few new properties going to TOP soon.

I will always recommend my buyers to opt for freehold properties for purchase if they are able to afford. But if they are going for leasehold properties, go for younger properties as they will have a better resale value compared to older properties.

Hope my explanations/ opinions aid in your decision making.

If you need any assistance in your property needs in future, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Hi,

If you are quite sure you are going to upgrade to private condo, you can consider to start marketing your HDB in Dec 2015 as marketing time will take a while.

You can only legally issue OTP for HDB when MOP date of 5 years is met, and only purchase condo thereafter.

Loan wise, you may wish to seek 2-3 banking options to see how much loan they can support. The loan available will depend on your age, income and credit profile and any other loan obligations you have.

If your finances are good, I would recommend going for a freehold property as well. Values of freehold property are more resilient and there is always demand for such properties. Thanks and maybe we can keep in touch over email? Will be glad to answer your enquiries as you go through your process of house hunting this year. Thanks.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More