AskGuru Q&A Community

Hi WeiKian!

Thanks for your enquiry.

Yes you may purchase a condo upon completion of the MOP. However in the future if you would like to sell off your HDB, you will not be able to take over your mum's HDB flat if you are owning a condo at that moment.

Do give me a call or drop me a text to discuss further. It's definitely a good time to start viewing some condo units so that you can purchase soon after MOP has been completed.

I have many great condo units that I can recommend you. Thanks and hope to hear from you soon.

Bhavina
Senior Marketing Manager
ERA Realty

M: +65 91708295 
E: bhavina7777@gmail.com
W: investbuysellrent.com Read More

Hi,

As long as you are SC household and have met MOP of 5 years, you can purchase condo and keep both HDB and condo. However, ABSD of 7% applies and you will have loan and CPF restrictions for 2nd property.

In the future, whether you can take over your mum's HDB depends on prevailing market HDB policies. However please note that if you have condo and wish to take over HDB, you have to sell away your condo. Thanks and may I understand your housing requirements further so to value-add to your housing plans? 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

Hi,

As long as you're a Singapore citizen, you will be able to purchase a condominium and even keep the HDB. You Will however be liable for 7% ABSD. As for keeping your mum's property, you might have to dispose off your condominium. As your intentions are of complex nature, do allow me to go through your enquiries in a comprehensive manner and lay out the entire procedural framework for your understanding. I will then advise on the steps you can undertake and how you could go about achieving your objectives.

May I know which property or location you may be looking at to purchase your private property? If you were to share more on your expectations, requirements and budget, I will be able to succinctly propose developments to consider. I have the complete inventory of price and unit details of private properties (U/C and Resale) going at high discounts of up to 30% as well as firesales for your perusal and consideration. Do get in touch and I will walk you through step by step at no cost and also work out your financial calculation flow and progressive payaments/ timeline payments for your understanding.

I will run you through the entire purchase- from shortlisting, to negotiation, to establishing loan matters and working out finances (cash/cpf/progressive payment), paperwork, sorting legal matters, providing you with recent up to date transaction caveats for benchmark pricing as well as furnish you with a customized sales report & indicative valuations at NO agent fees at all!

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 ERA Top Achievers
2014 Aug/Sept/3rd quarter/Dec/ Overall 2014 ERA Top Achievers Read More

Evening,

You are eligible to purchase your second property and maintain your current one upon fulfilling your MOP. However you will need to pay 7% ABSD, on top of the 3% Standard stamp duty. However, you will be required to sell away your private property should you inherit the unit from your parents years later.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Good evening WeiKian,

As long as your household has at least one Singaporean, you are eligible to hold on to your current HDB and purchase a private property after you fulfill your MOP.

Do take note that you will be subject to 7% additional buyer's stamp duty as a SC and will have to set aside a minimum sum of $77.5k in your CPF OA + SA before you can use the excess for this purchase.

And if you don't have any outstanding loan, you can loan up to 80% if not, it will be 50%.

Lastly if you want to inherit your mom's HDB flat in the future, you will have to sell off your condo.

Hope my explanation helps!

If you need any assistance or advice in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
(W):www.propertyavenue.com.sg Read More

Gd morning.
You can sell off your hdb and upgrade to a condo in order not to be affected by loan and absd.
However once you own a pte property, if you decide to inherit your parents hdb, you have to sell off your private property. Hope this helps.

Tricia Tan 91442664 
Www.triciatan.myweb.sg Read More