Inherit Old HDB - Sell or keep?

[tandesmond]

Seeking advice on the above - I have the chance to inherit a 45 year old HDB from my late parents. Presently staying in private property. Thinking if I should keep it for rental after MOP of 5 years? Or sell it now?

 

[reddevil0728]

Seeking advice on the above - I have the chance to inherit a 45 year old HDB from my late parents. Presently staying in private property. Thinking if I should keep it for rental after MOP of 5 years? Or sell it now?

note that the pool of buyers for older hdb might be lower because of the use of cpf for property purchase. check out what the rule is around that

 

[fr33d0m]

Seeking advice on the above - I have the chance to inherit a 45 year old HDB from my late parents. Presently staying in private property. Thinking if I should keep it for rental after MOP of 5 years? Or sell it now?

can you keep it? I thought you have to dispose either your private property or your HDB.

 

[BBCWatcher]

I suppose another option is to move into the HDB flat and sell the private sector home. If you think the real estate market is at or near the top of its cycle then (financially speaking at least) that could be the smart play if you're trying to time the real estate market.

 

[LWZ]

5. Can I inherit an HDB flat if I already own a private property?

Whether a private property owner can inherit an HDB or not depends on when the original owner purchased the HDB flat. If the HDB flat was purchased before 30th August 2010, then you can keep both the properties – the private residential property and the inherited HDB. If the HDB flat was originally purchased on or after 30th August 2010, then you would have to sell one of the two properties.

 

[Nofear40]

What if the beneficiary already owns private property?

Suppose the beneficiary of the deceased already owns private property. In that case, it will depend on the date the inherited HDB flat was bought by the deceased. If the deceased bought the flat before 30 August 2010, the beneficiary may keep both the private property and the HDB flat. There are conditions, however:
the beneficiary must be eligible to own an HDB flat; and
the beneficiary and their family must live in the HDB flat

https://www.latestprojectlaunch.com...the inherited HDB flat,at least 21 years old.

 

[yoongf]

Hmm.. actually need more details before can give any meaningful insight.

But.. 45yrs old means built in 1978. That era flats.. the 5rm point blk very livable n good locations.

But the 4rm n 3rms.. think is those 1 toilet type, like marine parade and holland village type. These types i think... not so ideal to live in.

 

[tandesmond]

Yes, I have the option to keep it. There is a MOP of 5 years before I can rent it out. I am thinking of rental income as part of retirement planning, but the decaying lease is always at the back of my mind.

It is a 4 room HDB. Good location as it is near to Mall and MRT.

 

[Nofear40]

Yes, I have the option to keep it. There is a MOP of 5 years before I can rent it out. I am thinking of rental income as part of retirement planning, but the decaying lease is always at the back of my mind.

It is a 4 room HDB. Good location as it is near to Mall and MRT.

Can you rent it out even after MOP? I thought the beneficiary must stay in the inherited flat?

 

[tandesmond.one]

Can you rent it out even after MOP? I thought the beneficiary must stay in the inherited flat?

Yes, have checked with HDB.

 

[Ahboy069]

my friend has a similar situation he inherited private but has hdb … now he cannot apply new hdb since he has private

 

[DevilPlate]

Yes, I have the option to keep it. There is a MOP of 5 years before I can rent it out. I am thinking of rental income as part of retirement planning, but the decaying lease is always at the back of my mind.

It is a 4 room HDB. Good location as it is near to Mall and MRT.

However legally, u goto stay in the hdb for the next 5yrs if u decide to keep it……

Sell now can fetch 600k?
whack MBH etf can receive 3%+ dividend for eg. (Not financial advice)

can buy 200k SSB, 200k reits, 200k MBH (around 24k pa)

 

[DevilPlate]

my friend has a similar situation he inherited private but has hdb … now he cannot apply new hdb since he has private

Happy problem…..who wants to apply another bto when u can inherit a pte property haha (without the need to pay ABSD somemore….song song till max)

 

[qhong61]

Yes, I have the option to keep it. There is a MOP of 5 years before I can rent it out. I am thinking of rental income as part of retirement planning, but the decaying lease is always at the back of my mind.

It is a 4 room HDB. Good location as it is near to Mall and MRT.

Then just keep.

 

[qhong61]

Yes, I have the option to keep it. There is a MOP of 5 years before I can rent it out. I am thinking of rental income as part of retirement planning, but the decaying lease is always at the back of my mind.

It is a 4 room HDB. Good location as it is near to Mall and MRT.

No siblings?

 

[DevilPlate]

I suppose another option is to move into the HDB flat and sell the private sector home. If you think the real estate market is at or near the top of its cycle then (financially speaking at least) that could be the smart play if you're trying to time the real estate market.

Unless he near retirement age else this is a bad idea.

Hard for condos in SG to correct in prices meaningfully to cover transaction/replacement costs.

 

[ahnyaahnya]

Yes, I have the option to keep it. There is a MOP of 5 years before I can rent it out. I am thinking of rental income as part of retirement planning, but the decaying lease is always at the back of my mind.

It is a 4 room HDB. Good location as it is near to Mall and MRT.

How about living in it for five years , renting out your private property?
Or you'd rather not .

 

[ahnyaahnya]

What if the beneficiary already owns private property?

Suppose the beneficiary of the deceased already owns private property. In that case, it will depend on the date the inherited HDB flat was bought by the deceased. If the deceased bought the flat before 30 August 2010, the beneficiary may keep both the private property and the HDB flat. There are conditions, however:
the beneficiary must be eligible to own an HDB flat; and
the beneficiary and their family must live in the HDB flat

https://www.latestprojectlaunch.com...the inherited HDB flat,at least 21 years old.

What if the situation is reversed?
HDB owner inherits private property (or part thereof).
I was told that in my case , I can since MOP is long past.
Does the Aug 2010 change have any effect on owners of HDB bought after that date ?

 

[Nofear40]

What if the situation is reversed?
HDB owner inherits private property (or part thereof).
I was told that in my case , I can since MOP is long past.
Does the Aug 2010 change have any effect on owners of HDB bought after that date ?

No issue for hdb owner to inherit Pte Pty I think

 

[BBCWatcher]

Unless he near retirement age else this is a bad idea.
Hard for condos in SG to correct in prices meaningfully to cover transaction/replacement costs.

They were down an average of about 45% in the late 1990s Asian Financial Crisis.

...But please re-read the qualifiers I included. There's a "matrix" of choices, and one of the choices in the matrix is to sell the current home and live in the inherited one. Some percentage of the time that'll be the best choice. I don't presume it is or isn't the best choice for the thread starter.