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Good morning,

Do take note that one household cant hold on to two HDBs at anytime thus you have to sell off your current flat within 6 MONTHS from a resale HDB purchase's completion date (your new house).

As you need to sell off current flat which means no outstanding loan anymore, you will be able to obtain 90% HDB loan (if your combined income is less than income ceiling of $10k) or 80% bank loan.

By taking HDB loan, the downpayment will be 10% and you can pay it by CPF while dow.npayment will be 5% cash and 15% CPF/ cash if you take bank loan

Other fees for purchase will be:
1) $200 valuation fee
2) $80 resale HDB submission
3) legal fees
4) agent's commission (1% of purchase price)

Secondly as you will be purchasing a resale HDB, you will not be subject to resale levy. Unless your current flat is a BTO/ resale HDB purchased with CPF housing grant and you are going to purchase another BTO (subisdised flat) then you have to pay resale levy.

Lastly as the resale property market is kinda slow now, normally we will advise HDB owners to put their property up for sale first before proceeding with purchase.

Probably you can share more with me so I can advise you which way is better. 1) to sell first or buy or 2) to buy first then sell or 3) can contra (must take HDB loan for purchase).

Hope my explanation helps and never confuse you.

I will love to assist you with your property sale and relocation to another estate.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More

Hi,

You need to sell your HDB within 6 months after key collection to your purchased resale HDB. Levy is not applicable if you are buying resale.

For downpayment wise, it depends on HDB (90%) or Bank loan (80%) you are taking.
Cash 5%
CPF 5% or 15%
Loan 90% or 80%
Stamp duties 3% approx
Commission 1% of purchase price+GST
Misc admin fees about 500

The HDB resale market prices have been stabilizing and may not appreciate as much as before, since you already have plans to move near parents, would you consider selling and moving in the near term? After all, selling a few years down the road means another few years of lease shaved off the balance lease of the flat.
Thanks and may I understand your housing requirements before further value-adding?

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
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