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Sunday, May 5, 2019

EXISTING HDB FLAT OWNERS WISHING TO BUY PRIVATE PROPERTY: HOW MUCH TO PAY?

HDB FLATS, PRIVATE PROPERTIES Dear readers, in a recent news article, it was found that Singaporeans spend more time on searching or looking at properties than reading to their kids. Such is the obsession of Singaporeans with properties.
With many of the Singaporeans owning and living in HDB flat, do you know how much you would need to pay upfront if you are an existing HDB flat owner and would like to buy a private property? Well, with all the taxes, rules on loan-to-valuation which property owners need to pay, in recent times, more monies would need to be paid by existing HDB flat owners upfront for a second private property.

But the wisest thing of all is for the existing HDB flat owner to pay off all his existing mortgage loan first as then in this way, his capital payment upfront for a second private property could be reduced by a fair bit.

I have found a useful article here to share with all of you if you are interested.
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