Dear sir/madam,
Usage of CPF funds for resale HDB depends on quite a number of factors, but the 2 main factors will be the balance lease of the HDB flat that you are purchasing as well as the age of the purchasers. For example, if buyers are in the late 20s but purchasing a HDB with balance lease of less than 50 years, they will be unable to utilise full CPF for repayment.
Why some people do not advocate the usage of using CPF funds to pay for the resale HDB is simply because of the accrued interest that needs to be returned to the CPF upon sale of the HDB, where many cases involved negative sale due to the accrued interest, but financing a property using cash can affect the family lifestyle greatly since running a household requires cash and it is also advisable to stash some cash aside for emergency matters, thus there is no absolute way to decide what is best. I usually will advise my clients to review their financial status regularly and adjust the repayment streams according to their financial status. Wherever possible, cash is definitely the better option for repayment since CPF is paying attractive interest rates.
I have been in the real estate business since 2009, with more than 12 years of experience serving the Singapore real estate market.
I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.
Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.
With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.
We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!
Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main]
+65 6471 8888
[mob]
+65 81577565
[LDA]
+65 92787772
www.geryllim.com
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