2Nd Timers Buying New Flat?

[Wu Jiahong Alvin Ng 1]

Hi forumers.., just need to enquire to buy new flat as a 2nd timer.. cos now we staying at resale flats.. still got 1 chance to buy new flat is it for 2nd timer?? let say can i sell away my current 4rm resale flat tat i had been staying for 5 yrs already... n buy a new flats?? btw my wife staying at home looking after kids n me working... salary not more than 2k... if i wish to buy a new 4rm hdb flat let say 250k - 300k... is it possible?? cos with my current salary is less than 2k n my resale flat can fetch abt 350k-400k... now my current hdb mthly instalments is $500+... need some1 to advise and caculate for me. Reason :change location of to move n see able got remaining cash for selling my current flat??? any advise??? tks....

[therat 18]

1. Did you take CPF grant for your existing resale HDB?

If yes, need to pay resale levy.

http://www.hdb.gov.sg/fi10/fi10322p.nsf/w/SellFlatResaleLevy?OpenDocument

Making Payment for the Resale Levy

You can pay the Resale Levy with either/combination of the following:

• with your sale proceeds or
• cash

2.Use this Cost of selling the Flat to check Cost Involved for Selling your HDB flat

3. Sale Proceeds Calcalator provides only an estimate of the sale proceeds that you may get and its accuracy depends on the information provided by the user.

4. HLE application - Check how much can you loan.

5.

new 4rm hdb flat let say 250k - 300k

- depend on which area are you looking at?

eg. Latest BTO

Pasir Ris GoldenLily 4rm $294k - $347k

Punggol Parcvista 4m $264k - $336k

Tampines Greenleaf 4rm $288k-361k

And.. base on my understanding.

If your present HDB is using HDB loan, in order to get 2nd HDB loan, u need to upgrade. That's mean you need to buy 5rm and above. Then u can entitle for 2nd HDB loan.

If just 4rm change 4rm, u need to get Bank loan.

If want to get HDB loan, also can.. need to appeal. and subject to approval.

Since you are the only person working. Why want to stress your finance.

Remember, sell high, buy high

[Wu Jiahong Alvin Ng 1]

Hi mod.. tks for e reply.. yes i did take up e 40k grant.. staying near parents.. understand tat need to pay back e resale levy

40k based on my 4rm flat.. ya.. when i sell my current resale flat high i also need to buy high on the other side..

for my current situation i can only upgrade to bigger which means of 5rm but not in terms of sqm?? like eg my current is 4NG 93sqm.. is it able if i can upgrade to 4A New flats.. cos i still have a chance to buy new flat.. if i buy my new flat.. i think my mthly instalment will not be 500+ as my current 1... so perhaps i stick to my current resale...cos my balancing mortage loan left 100k+... let say i sell my current resale flat at 380k.. minus e 40k resale levy.. left 340.. how much return back cpf n cash to me if i will to buy a approximately 300k new flat frm hdb??? tks for e advise,.... : )

[therat 18]

upgrade in term of 4 rm to 5rm.

HDB don't care whether ur existing is 4A, 4NG or 4 whatever.

What they see is 4

how much return back cpf

Login your CPF and check.

n cash to me if i will to buy a approximately 300k new flat frm hdb?

I belive the link which I had posted @ pt 3 in the previous posting , can able to give u an est.

[godloveyou 0]

Hi forumers.., just need to enquire to buy new flat as a 2nd timer.. cos now we staying at resale flats.. still got 1 chance to buy new flat is it for 2nd timer?? let say can i sell away my current 4rm resale flat tat i had been staying for 5 yrs already... n buy a new flats?? btw my wife staying at home looking after kids n me working... salary not more than 2k... if i wish to buy a new 4rm hdb flat let say 250k - 300k... is it possible?? cos with my current salary is less than 2k n my resale flat can fetch abt 350k-400k... now my current hdb mthly instalments is $500+... need some1 to advise and caculate for me. Reason :change location of to move n see able got remaining cash for selling my current flat??? any advise??? tks....

You have 5% chance. 95% of BTOs are reserved for 1st timers.

2nd timer means either:

1.present's resale received some kind of grant from gov. Or

2.Has sold away your 1st new "sudsidised" flat.

Under 2. You need to pay back the levy if were to get a 2nd new flat.

Under 1. Also need to pay back levy.

HDB's web very informative, take yr time to browse and understand.

[Wu Jiahong Alvin Ng 1]

Mod.. ic.... tks for ur advise...! : )

[Wu Jiahong Alvin Ng 1]

Hi godloveU... yes chances very slim.. anyway i just stick to my current flat.. Not urgent case.. just seeking advises frm forumers...will take my time read thru e hdb website..! tks for ur advise! : )

[Warrior88 0]

And.. base on my understanding.

If your present HDB is using HDB loan, in order to get 2nd HDB loan, u need to upgrade. That's mean you need to buy 5rm and above. Then u can entitle for 2nd HDB loan.

If just 4rm change 4rm, u need to get Bank loan.

If want to get HDB loan, also can.. need to appeal. and subject to approval.

Hi Sis,

I thought we had gone through this in Mar 2010. You were in the loop also...aiya, forget liao ....Haiz

Both upgrade/downgrade can apply to HDB loan subject to eligibility.

But 2nd loan subject to the "50% cash proceeds" rule .....

This 50% really siong, not much cash left.

http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/EB7797E9B364B714482576DD001E526C?OpenDocument

[therat 18]

Both upgrade/downgrade can apply to HDB loan subject to eligibility.

I thought upgrade no problem.

downgrade need to apply.

I really miss out the 50%

[Wu Jiahong Alvin Ng 1]

Hi warrior88.. had been neglected this info...ya indeed super siong for 50% cash...btw tks fyi n have a nice day! cheers...

[Wu Jiahong Alvin Ng 1]

I thought upgrade no problem.

downgrade need to apply.

I really miss out the 50%

hello SM... is ok... sometimes ppl tends to miss out things.. anyway tks for e fast reply.. cheers...