Hi,
For Option (1), as a 2nd timer applicant, the chances may be slim as BTO launches are often oversubscribed by first timers and may not have the location you want. Moreover, a resale levy is also payable to HDB and based on 22.5% of the sale price back then since its sold in 1997. A resale levy is payable when you get your 2nd subsidized flat such as BTO.
Option (2) Doing so incurs the effects of Option (1) and have to involve the son's name, so not so advisable to proceed.
Option (3) seems more feasible. Firstly you avoid the resale levy, and also the waiting time needed for BTO. Waiting has an impact because you are buying the BTO at today's prices but selling your current hdb at prices 5 years later. It is not favorable since the current flat is getting older and will start to depreciate faster as the balance lease decreases.
However, resale flat less than 10 years are typically at outer areas such as Punggol Sengkang Hougang, which involve an environment change. They may be smaller than older hdb overall but pricing may be similar.
These are my thoughts off the head. Perhaps 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.
Warm Regards,
Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever
ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
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- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.
-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --
We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.
We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service.
We would never expect such a smooth sailing experience of selling and buying of property. Your professionalism in work will definitely be remembered and rewarded. All the best in your property venture!
-- HDB Hougang 4-RM Sellers Mdm. Ng & Jean --
Ivan was the first and only agent that we met before engaging him as our exclusive agent. At the first meeting, Ivan meticulously went through the entire sale process. As we were not familiar with the procedures, he spent extra time to explain what was required from us and what we should expect. Within a week, we had secured an offer fr
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