Buying an older HDB Flat?

Buying An Older Hdb Flat By Ryan Lee Kk Buyhomenothouse

Buying An Older HDB Flat?

Buying An Older HDB Flat?

If you are a planning to sell your existing HDB flat and buy an old HDB flat at a higher price. Watch this first before you do anything.

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So why certain group of buyer wants to choose this option to sell their HDB to buy a older HDB flat?

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Usually, they are planning to stay near parents or go for CPF grants and lastly trying to buy a chance to go enbloc.

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Things to take note :

Value is potentially lower and diminishing given the shorter remaining lease.

There’s also a widening price gap of as high as 65% between flats older than 40 years compared to those under 40 years

For HDB – SERS (Selective Enbloc Redevelopment Scheme) doesnt mean old HDB will get enbloc. So far only 4% of HDB flats are being selected for SERS.

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Older HDB flat also required more cash for downpayment as young buyers may not enjoy full housing loan.

As for CPF usage, you cannot use 100% of it if the youngest buyer + remaining lease is less than 95 years.

That’s all for now, do think twice if you are planning to buy an older HDB flat. =)

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