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My wife is out of a job, I have 2 school going kids and I am earning only $1500 a month. I was thinking of selling my 4NG in Yishun and buying another 4 room in the same area.First time I am selling. My property agent advise me to upgrade to 5 room as I can get HDB loan and thus I can get more cash, but it is not eligible if I buy 4 room. The main important objective is to be able to get cash to tide me over. The 4NG is fully paid up and the rough valuation is $280000. My CPF ordinary account have $25,000 and Investment account is $80,000 and my wife CPF ordinary account is $94,000 and investment account is $30,000. Which is better? Use CPF money and some proceeds from the sale to buy 4 room or upgrade to 5 room using HDB loan. Please advise..
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5 Answers

Brandon Aw ERA
Replied
Hi Dan,

More sensible to upgrade to a 5rm if u have limited cash. Then u would be eligible for HDB loan, otherwise for bank loan, u need to come out the purchase of the new flat COV first and also 5% of the valuation price in CASH...

Perhaps, if your time permits, we can meet up to do a more thorough calculation on the commitments on your part.

Cheerz!
Brandon - ERA Marketing Director
HP: 8233 23 23
Email: aw.brandon@gmail.com Read More
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K Ravin
Replied
Hi Dan,
Check out the typical "Asking Prices" from the Straits Times CATS or Chinese newspapers for Yishun 4/5 rms. Most agents are asking average $20K - $40K above valuation. (ie Cash amount to be paid).

Check with HDB DIRECTLY if you are eligible for a HDB Loan for a 4/5 rm and the loan amt.

Rgds Ravin 97985917 
KNIGHT FRANK
B.Eng (NUS 1989)/ CEHA Read More
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Richard Lee Cheng Guan
Replied
Hi Dan,

I just comes across your question posted on aug 2009. Not sure if you have sold your flat.

Currently, the new rule allows downgrader to request for HDB loan. I recently help my client with regards to HLE application . He is selling his 3rms flat to buy a 2 rms flat or higher.

WIth the new ruling you can now downgrade n still get HDB Loan (HLE). You will need to
apply for HLE first before looking for other flat and adviceable then to sell your flat.
Depending on your condition, HDB will first have to approve the HDB loan..I can assist regarding HDB loan (HLE application).

Please contact me if you need further advice
on property related matters.
Thanks
Richard Lee
 91085222  Read More
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Able S.K Toh
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Able S.K Toh
Replied
------------------

"If you need more assistance with property matters:

like renting / selling, buying / or investing, I'm here to help!

WhatsApp me at: ABLE Toh>>9856 9255 or through this link.:https://wa.me/6598569255

(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (+65)>>9856 9255>> or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT ：）

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

XXXXX The End XXXXXXX Read More
1
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