8 Answers

askguru expert
Hi there, thanks for writing to us on AskGuru.

Yes, it is possible provided they right size to a flat that can cover the purchase price from the sale of their current 3-room flat in Ang Mo Kio. Doing so will mean they can pay off the flat in full without taking any loan.

In order to do this, the property's purchase price must be similar or lower than the selling price of their current property.

They will also need to set aside a Basic Retirement Sum of $93,000 in they Retirement Account.

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More


Ivan Ng

Yes its possible if the sale proceeds of the AMK flat are enough to cover the purchase price of the next flat, which is likely a 3 room flat in Punggol as well. I have worked on similar cases and will be glad to share further.

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

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Robbie Chen Chee Howe

Yes, it's possible for your parents to make the switch if the finances are in place. As they are moving near to your home, they will also qualify for the Proximity Housing Grant of $20k. This sum will come in handy for the purchase of their new flat.

I am experienced and well-versed in both private and HDB resale transactions. 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.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More


Lyna Song

Yes, there are no restrictions to age when it comes to purchasing a resale HDB,they just need to be able to afford the finances .. If they were to get a unit within 4km to yourself, they can get the Proximity Housing Grant too ( if they have never utilise before ).. To be able to advice you further on this, I would need more info from your parents so that I can give a more suitable options for them on whether to buy first or to sell their place first and also advise them on the timeline etc.. Please do get in touch with me as i'm unable to contact you here.. Thanks

Lyna Song
9623 8442
Associate Group Director
Propnex Realty Pte Ltd
lynasong@hotmail.com Read More


Taufik Hussein
As they are above 55, it is not advisable for them to take up any more loans. It is possible for them to use the proceeds from sales of their current flat to fully paid the next one they are buying. They can also enjoy PHG grant of up of 20k if they choose a flat within 4km radius of yours. As for what type of flat they are eligible, it depends on the value of the current flat tehy are selling. A flat value would depends on the flat age and location. From my experience flats in Punggol tends to attract a significantly lower value. Do contact me at 93375051 for a free and non obligatory discussions on this.
Taufik Hussein
ERA Realty Network Pte Ltd Read More


Nick Tan
Dear Sir/Mdm,

Your parents may not be able to secure much loan at their age. The move is still possible but it depends on how much they can get back from the sale of their flat as part of their CPF will be locked under the RA and they may need to appeal to CPF board to be able to utilise them.

Please feel free to contact me so that I can do up a financial calculation for them before I can advise better whether it is a feasible move. I am available for discussion online during the circuit breaker period.

Nick Tan
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YT Tan (陈永达)
Good afternoon Sir/ Mdm,

It will be advisable for us to go through the numbers with your parents to see whether can they do this move (from 3RM in AMK to 4RM in punggol).

Btw do you know whether:

1) their unit fully paid?
2) are they first timer (i believe not)?
3) have they fulfill their retirement sum yet?
4) are they still working?

Let's work out figures for them first before proceed further.

How can I bring this discussion further? through call or zoom?


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Greetings from Ohmyhome!

First, your parents need to do a financial calculation which will determine whether there will be cash proceeds after CPF refunds and repayment of any outstanding loan.

Next, to check for available units at Punggol 3 or 4 rooms and the prices before can know whether is it possible to proceed further.

Should you need further information or assistance, feel free to contact us at 68869009 or WhatsApp us at 97551009.

We will be most glad to assist.

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More