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No one can have 100% same retirement plans therefore whether such a move makes sense or not will be subjective. Since you have already fully paid your existing HDB, by cashing in, you will have 1 lump sum of funds in your account for retirement, while retaining existing flat, you can rent out the rooms for monthly income, albeit staying with "strangers" maybe difficult to get used to. Discuss with your family perhaps?

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Hi, this will depend on what situation and what outcome you are looking at. Usually a cashout will offer more flexibility in terms of investment or retirement, while some people look to rent out units for a rental income. There may also be a concern if you having taken two housing subsidies before which may affect your eligibility to purchase a new BTO.

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Landon Chew
97 39 60 40
landonchew@email.com Read More

Hi, appreciate your sharing. If you require the funds to do so, why not ?

Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes it does make sense in this case since you be having a lump sum in your bank right after selling the existing flat.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Mr Ng,

If your plan is to cash out from your fully paid out flat and move to a smaller flat for retirement and easier maintenance then I think it is a good idea as BTO flats are much cheaper. If not, you may also explore renting out your bedrooms in the flat to generate long term income and cash flow.

Please feel free to contact me so that I can understand your intentions better and provide you with further assistance!

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

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“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically, he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
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I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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Susana (Buyer) Read More

Deciding whether to purchase a 2-room Flexi Build-To-Order (BTO) flat for retirement purposes after owning a fully paid resale 5I flat involves considering several financial, personal, and market factors. Here are key points to consider:

Financial Considerations
Market Value and Resale Potential:

Evaluate the current market value of your resale 5I flat and the potential resale value of the 2-room Flexi BTO flat. Consider market trends and projections for both types of properties.
Understand the resale restrictions and conditions for BTO flats, which might affect your ability to sell the property in the future.
Cost and Financing:

Compare the cost of the 2-room Flexi BTO flat to the value you can unlock from selling your 5I flat.
Determine the financial implications, such as any Additional Buyer’s Stamp Duty (ABSD) or resale levy that might apply.
Retirement Planning:

Assess how much cash you need for retirement and how the sale of your 5I flat and purchase of the 2-room Flexi BTO flat contribute to that goal.
Consider other sources of retirement income and whether this property transaction aligns with your overall retirement plan.
Personal Considerations
Living Space and Comfort:

Evaluate whether downsizing to a 2-room Flexi BTO flat will meet your living needs and lifestyle preferences during retirement.
Consider the impact on your quality of life, including space for visitors, hobbies, and personal comfort.
Location and Amenities:

Analyze the location of the 2-room Flexi BTO flat and its proximity to amenities, healthcare facilities, and community services that are important for retirement.
Flexibility and Future Needs:

Consider the flexibility of a smaller flat in terms of maintenance and upkeep.
Think about future needs, such as potential mobility issues or the need for a caregiver, and how a 2-room flat might accommodate those needs.
Market and Policy Considerations
HDB Policies:

Understand the eligibility criteria and policies related to purchasing a 2-room Flexi BTO flat, especially since you already own a fully paid resale flat.
Review any recent changes to HDB policies that might affect your decision.
Property Market Trends:

Keep an eye on the property market trends, including demand for smaller flats and potential appreciation or depreciation.
Consider the impact of economic conditions and government policies on the housing market.
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