HDB Lease Buyback Scheme versus Downsizing

[culture_counter]

Let's say you need to help advise your Pioneer Generation friends/ relatives, which would be a better method if PG member is not rich but need money to sustain livelihood as well as medical bills ? Please discuss opinions.


Managed to capture a similar thread at EDMW, but the speed of change is too fast in EDMW, might as well link it here with the Moneymind experts...

http://forums.hardwarezone.com.sg/e...turn-slowly-payback-cash-owner-5502444-2.html

 

[chopra]

Do u have financial info on hdb lease buyback? How does hdb work out e numbers?

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[RobinTeoHood]

What's the age of the elderly? Leaseback is usually the better option. Given old folks wouldnt want to relocate. And if they do not have anyone to will the house to.

The buy back around market rate. Gives a small lump sum to the owner and then monthly payments I believe till a ripe old age beyond which most people will not live to.

Even if live beyond that age they won't kick the occupant out. There will be some kind of unspoken arrangement

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