Does it make economic sense

[hippoheyhey]

Hi gurus, need your honest views, no trolls please

Will I earn anything if i

Sell existing hdb flat at 750k
(bought at 500k, remaining loan 400k,25 years)

Book new flat at 400k (25 years hdb loan)

 

[rizhal]

need more info like remaining loan tenure.
Loan from bank or Hdb?

you will earn a new clean flat for sure.

 

[hippoheyhey]

Loan from hdb, remaining loan tenure 20 years, 400k

 

[kzonexx]

Hi gurus, need your honest views, no trolls please

Will I earn anything if i

Sell existing hdb flat at 750k
(bought at 500k, remaining loan 400k,25 years)

Book new flat at 400k (25 years hdb loan)

this is roughly wat will happen :


Sell at 750K
Pay back remaining loan 400k
U will get balance 350K
Split the 350K into
1/ pay back ur own CPF OA + Accrued Interest (Assume 150K)
2/ cash (200K)


Buy new flat at 400K
all ur OA will be wipe out, existing balance + the 150K
U will loan the balance of 400K - 150K - existing OA balance




Above is the rough calculation... u shud have about 200K cash if taking HDB loan for the new flat. if take bank loan, 5% needs to be cash which means ur overall cash balance wud be 200K - 20K = 180K

 

[badsector]

still need to pay ur agent comm(2%?), hdb resales levy when u sell. from hdb

renov cost, stamp duty and plus others for new hdb (from HDB

maybe 100k left

 

[BBCWatcher]

all ur OA will be wipe out, existing balance + the 150K

This part is avoidable, if desired. Any of these options work:

(a) Bank loan; or

(b) Conversion of OA to SA, and/or

(c) Move the OA funds to the CPF Investment Scheme, even a safe and low cost asset such as a Singapore Government Security purchased at original issue.

 

[mosmos]

Loan from hdb, remaining loan tenure 20 years, 400k

quite heavy loan to repay every mth for $400k

 

[Sinkie]

Hi gurus, need your honest views, no trolls please

Will I earn anything if i

Sell existing hdb flat at 750k
(bought at 500k, remaining loan 400k,25 years)

Book new flat at 400k (25 years hdb loan)

then 3.5 years u live where while u wait to collect key for your second bto