Dear Hdb Owners,
Do you have plans to Upgrade? Downgrade? Relocating? Cash out?
If you think that you will continue to stay in your current hdb flat till old then you will not need to start taking actions. But for those owners out there who know and foresee that this hdb will not be your “final” home, then you should start planning and taking actions if you have already met the MOP (Minimum Occupation Period)!
Why do I say so? Because as many are aware, hdb in Singapore is not an investment product, is a “shelter/home” for Singaporeans. HDB has number of restrictions to be abide when you want to SELL or BUY. Below are just a few of it:
- Minimum Occupation Period (5 years)
- Ethnic Integration Policy & SPR Quota
- Eligibility Schemes
- 30% MSR (Mortgage Service Ratio)
- CPF usage is affected if the balance lease is less than 60 years
- Etc etc…
Do you know all the above affect and limit the pool of buyers that you will be able to sell to and thus have an impact on your selling price! Nowadays many sellers are facing negative sale (No cash from sale, probably losing cpf money too!). If you are in a better situation, why not start planning for you and your family!?
Before you make any decision, ring me up to fix an appointment to understand more! Hear what I have to say and plan for you without any obligation 🙂
Ian Teh 91783042