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.
So why certain group of buyer wants to choose this option to sell their HDB to buy a older HDB flat?
Usually, they are planning to stay near parents or go for CPF grants and lastly trying to buy a chance to go enbloc.
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.
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. =)
