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My fiancée and I are planning to get married next year Q3. My parents own a privatised for >20 yrs, which has been fully paid out. While waiting for en bloc, they would like to move to a smaller 3 room for retirement purpose. We are considering the following options:

A) My fiancée and I purchase a 3 room flat nearby for our parents, using the housing grants we are eligible for. We then swap accommodations. Is this legally allowed and would there be any future complications we should take note of?

B) Alternatively, my parents transfer ownership of the private house to me and then purchase a 3 room flat under their name. How long will this process take and what are the costs involved? Which option would you advise us to take?
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2 Answers

Ivan Ng
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Hi,

May I know while waiting for en bloc, you meant that their development has already achieved and accepted an offer from developer?

Given that the house is fully paid, there could be more options to explore. It may be easier to explore more with more details over a call.

May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

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Robbie Chen Chee Howe
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Hi,

May I know how old are your parents? Because with the latest cooling measures, option B would be out for your parents if they are below age 55.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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