AskGuru Q&A Community

Hi Jasmine,

You need to pay the levy if you're taking HDB loan again. To avoid paying the levy, you may consider DBSS or EC. This year, the government had sold several sites for DBSS and EC purposes.

You probably have heard of the Esparina Residences (EC) near Buangkok MRT going to be launch in Oct 2010. Right now, actual selling price is not released yet, but indicative price range for 3 rooms should be around 750k. See http://www.propertyguru.com.sg/listing/1985591. Do note that 95% of EC is reserved for 1st timer during the initial launch. Since you already own a flat, you are considered a 2nd timer, your chances is lower compared to first timer. No harm trying if you're interested to get a condominium life style at below market price. If you're interested to have a look at the Esparina Residences which is only mins away from Bunagkok MRT, do contact me at 9012 2228  .

Another way to avoid paying levy is to buy resale HDB and take bank loan instead of HDB loan. However, though bank loan interest rate is very low now, it could (and it will) rise above 2.6% (hdb loan interest rate) when market recovers. Also note on the new hdb rules of 30% down payment if you have not fully repaid your housing loans. Buying house is a big commitment and there are many things which a good agent can advise you, do get in touch with a agent for a better advice.

cheers,

kelvin
 9012 2228 
kelvin@sghometoday.com
www.sghometoday.com Read More

Hi Jasmine,

You do not have the pay the levy yet if you are not going to buy another HDB flat directly from HDB.. You still can take another HDB loan if you are still eligible..

Average 3bdrm EC is about $700K - $850K depend on the area and the size you are looking for.

Feel free to call me @ 9027-6142  or kenlim09@gmail.com

Regards,
Ken Lim
C&H Groups Read More

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