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We bought a resale flat under 2 PR scheme 5 years ago. We have since then converted to Sg Citizen. With 2kids and another one on the way, we are thinking of upgrading to a bigger new HDB/EC. We are still servicing our bank home loan 1) Do we need to sell our flat first before applying for new HDB? So meantime, we got to rent? 2)How much upfront cash + CPF do we need to put for downpayment?
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2 Answers

Hi queserasera,

Congratulations for the upcoming arrival of your 3rd bundle of joy. Comfort of home is utmost important in providing the kids a healthy environment to grow up in as well as the adults for a place where 1 can relax after the hustle and bustle of a tough day at work.

You need not sell your place first in order to apply for a new HDB/EC, provided that you have the upfront cash required.

For the finances procedures, you may wish to refer to HDB's website for more information.

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatApplyHDB?OpenDocument

You are only required to sell your existing HDB within 6 months after you have received the keys to your new unit.

The most important aspect right now for your consideration is to assess your financial capabilities before proceeding.

Hope the above helps.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg
ECG Property Pte Ltd - A Boutique Real Estate Company Read More
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Evening,

You do not need to sell away your existing unit, prior to the HDB application. As you need time and luck, for the application, it might take you some time, before you can get one. However, you need to be prepared for the 10% deposit, other than the $2000 booking fee.

FYI
Mike Lim
 96929209 
ERA Read More
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