Asked by
I am planning to upgrade to a larger HDB flat.
Current HDB flat will cost $400K. Bought the flat for 10 years at $200K. All payment by CPF.
Upgraded Flat will cost $950K.
Loan amount approved at $500K

Is it possible for me to purchase the upgraded HDB?
I heard that I cannot use the $400K from the sale of current HDB.
0
527 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

5 Answers

Hi,

Thanks for your query!
What's key in this upgrade process is the - financial cash computation and calculations. In these cases, it's always best to have a professional work out your financial cash projection, generation of sales proceeds and factor in the likely purchase price so that the process is smoothly facilitated and ensure you a tidy profit. Sometimes, being rookies and unfamiliar with the overwhelming process, a slight wrong decision can lead to paper loss and even actual loss!

What's also to note- in this weak market where resale units pricing are falling and are left on the shelves for months- Do you have the right medium to expose your property to throngs of prospects? Do you understand the own value of your house? Do you understand the valuation and exact transaction/sales in your block and surrounding vicinities?

All these play a part in ensuring you reap your profit and at the same time, enjoy the best of both world's. As agents, we have all the tools, skills and marketing strategies to help bring light to your plans. Sure there is a small fractional cost involved, but think about the thousands of dollar you can make on your sales and another thousands of dollars you can save on your purchase with the due diligence and negotiation skills of your agent. We represent your needs and fight for YOUR price! I always advise my clients to have a preliminary discussion to derive more information and requirements as well as share more on the market insights/ comprehensive marketing strategy of unit as well as take this as an opportunity to understand my working style.

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com

#1 team of ERA in Singapore, Asia Pacific International for 2014.

ERA 2015 Q1 Top Achievers (Top1% of ERA)
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group
2015 Feb/ April/May ERA Top Achievers
2014 Aug/Sept/3rd quarter/Dec/ Overall 2014 ERA Top Achievers Read More
0
Evening,

Let's say your current unit is sold for $400k, you will need to distribute the funds for loan repayment, CPF OA utilize and interest incurred. Things like upgrading fee and legal fee payable will also be deducted. Another factor will be your current age and age of the unit that you are looking into.

Do contact me further should you require additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Hi,
For me to assist and advise you the details, kindly drop me an email for me to share.

I can be contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
0
Hi,

Perhaps we can get in touch and discuss about the financial planning so to help us understand if we can proceed with this upgrade. Hope to have the opportunity to work with you.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
0
GAN ENG JOO ONASSIS
Hi,

Pls feel free to contact me to have a discussion.

Onassis Gan Eng Joo - CEA Reg No.: R021244C
CES Certified SG Realtor l SGRealtor.com
agent.myweb.sg (PropertyGuru) / agent.irealtor.sg (iProperty)

SG Hotline: +65 9222 2389 
MY Hotline: +60 111 078 8889
Email: Onassis@sgrealtor.com
Skype: incomecare

SG Commercial Websites
www.SGCBD.com
www.CBDSingapore.com
www.SingaporeCBD.com
www.CommercialSingapore.com
www.SgOfficeRental.com
www.SgShophouse.com

SG Landed Houses Websites – www.LandedGroup.com
www.SGGCB.com
www.SGBungalow.com
www.SGDetached.com
www.SGSemiD.com
www.SGTerrace.com
www.SGCluster.com

SG Districts Websites
www.BukitTimah.com.sg
www.Holland.sg
www.MarineParade.sg
www.SentosaIsland.sg Read More
0

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions