AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
I (Singaporean) bought a resale HDB Flat with my parents (LTVP) in Oct 2012 without any housing grant. After that, I married my wife (SG PR). We plan to buy a resale or BTO Condo. Assume the price is around 1000k. and we still want to keep our HDB Flat.

my question is the earliest when can I apply the BTO private Condo? how much can we loan? I and my wife's income is around 10k. we still have outstanding HDB Loan 350K. Can we get any housing grant? How much tax should we pay? Thanks
0 •
635 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

Ivan Ng
Replied
Hi,

By BTO private condo, you mean EC from developer? Its possible but I would need more details. But please note if you buy EC from developer , you have to sell away your hdb.

For private condo, there will be ABSD of 7% if its a joint purchase. Your housing loan is up to 50% of purchase price since you still have outstanding loan. Alternatively you may want to consider buying under your wifes name only, but likelihood you be purchasing a smaller condo. Thanks and hope to assist with your plans further.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
0
Upvote Upvoted
Mike Lim
Replied
Afternoon,

As you have not fulfilled 5 years MOP, you are not eligible to purchase new BTO or EC. Even if you have fulfilled the MOP, you will need to sell away your current unit within 6 months from key collection date as nobody is allowd to own two HDB unit at the same time.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions