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As most of us are using CPF to finance our HDB purchase, the limitations on CPF usage may restrict our ability to buy an older HDB with less than 60 years remaining on the lease.

You may use the full CPF amount if the remaining lease can cover the youngest buyer until the age of 95 and a prorated amount if the remaining lease does not.

For example, if you are 35 years old and the flat you wish to purchase is built in 1977, your CPF usage is pro-rated, since the remaining lease (56 years) will only cover the buyer until the age of 91 years.

In addition, the amount of loan you are eligible to may also be affected if you are purchasing an older resale HDB.

Most home buyers who purchase the older HDB flats whom I have came across basically is looking out for its location or they are looking at the size of properties given that newer HDB flats are smaller in size. At the end of 99 years, the government will take over the property if it has not been selected for SERs. There is no replacement.

Hope the above helps!

As most of us are using CPF to finance our HDB purchase, the limitations on CPF usage may restrict our ability to buy an older HDB with less than 60 years remaining on the lease.

You may use the full CPF amount if the remaining lease can cover the youngest buyer until the age of 95 and a prorated amount if the remaining lease does not.

For example, if you are 35 years old and the flat you wish to purchase is built in 1977, your CPF usage is pro-rated, since the remaining lease (56 years) will only cover the buyer until the age of 91 years. Read More

Hi
To answer your question on purchasing a house that could not last you till 95 years of age, your LTV if taking a HDB loan will be pro-rated, your CPF valuation limit will be prorated and your grant will be prorated as well (If you are a first timer taking grants). For bank loan, they will not look at your age but rather the numbers of lease years left and if the flat is too old, banks might not grant you the maximum loan tenure despite your age. I have served various buyers in purchasing a flat that cannot last them till 95 years of age in the past. Despite those disadvantages, they decided to go for this option due to their difficult circumstances. Honestly speaking, I could not think of any advantages on purchasing any residential properties that could not last you till age 95. As for your last question, the government has reiterated that the value of all properties will be $0 once the 99 years lease ends and this includes HDB flats. Not all HDB flats will go through SERS exercise. Currently the government is thinking of policies to cushion this impact such as taking over flats with balance lease of less than 20 years with lesser compensation and benefits given to owners as compared to those flats that are affected by SERS exercise. However nothing is concrete yet as of now. As this is a complex issue that involves detail explanation and calculations, I would be glad if we can discuss and meet up for me to explain further. I am specialised in HDB and most of the buyers I served managed to purchase a house without any COV despite the challenging market situation nowadays. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
Markerting Director
ERA Realty Network Pte Ltd
CEA Reg No: R061607B
Contact No: 93375051  Read More

WhatsApp me at: ABLE Toh (65) 9856-9255  or through this link.:https://wa.me/6598569255
----------------------------888--------------------------------888--------------------------->>>
"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 9856*9255 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

(***) You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (65) 9856 9255  or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ” Read More

WhatsApp me at: ABLE Toh (65) 9856-9255  or through this link.:https://wa.me/6598569255
----------------------------888--------------------------------888--------------------------->>>
"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 9856*9255 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

(***) You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (65) 9856 9255  or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ” Read More