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The HDB flat I own was built in 1984. It is near MRT. I won't be able to buy it back again if I were to sell. However I am concerned about the declining tenure of the HDB flat which may depreciate the value of my flat when it falls below 60yrs. There are two options I have:

1) Continue to rent out my HDB (at $1400 a month)and use the mortgage to pay for my condo and never sell my HDB regardless of remaining tenure. There might be a possibility of SERS but we never know.

2) Sell my HDB and use it to pay the remaining mortgage for condo (with some cash top up) while the HDB price is still high.

Let me know which option you choose and why you chose it. If your option is none of the above, you may share what you think.

Thanks
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3 Answers

Ivan Ng
Replied
Hi,

Which location is the HDB located and what size is it? It appears it is in the outskirts as the rental appears to be slightly lower. If thats the case, I will go for option 2 to sell it as the pool of buyers now are more selective and will not pay high prices as in 1 or 2 years back, but at least sellers can still make a profit. It might not be this case a few years down as the flat goes nearer to the 60 year remaining lease mark.

Thanks its better if I know the location and block before advising further since its an important decision to you. Hope to speak soon.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com
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Mike Lim
Replied
Morning,

It is always ideal to have passive income. As for your case, it's to facilitate the mortgage of your private property. However, in the case of enbloc, you will not likely be eligible for the replacement unit. In the case you opt to sell off your HDB unit, you will be able to be debt free but lack the passive income. Hence it would boil down to what's your plans for next 6 to 10 years.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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Geryl Lim
Replied
Dear sir/madam,

If you are comfortable off financially to finance the current condo you have, perhaps you should sell the HDB and look at using the sales proceeds to invest in a more attractive product if you are able to identify with one, probably into overseas real estate, where it can allow you to have monthly rental returns too, yet do not have depreciating value of a leasehold project.

Let me know if we are able to explore further. Keep in touch!

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Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
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