Selling 4 room flat to BTO for 5 room flat

Sharonyap2505

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Apparently, my husband's friends told him that it's possible to sell our current 4 room BTO flat and upgrade to 5 room BTO flat.

We are still paying for our hdb loan and monthly repayment is by CPF. I don't know how this resale thing works. But I'm sure that selling a flat that is still not fully paid for is a bad idea?? Husband say can one. Sell flat already, then money we paid for will be refunded back into CPF. CPF money can buy another BTO.

Please tell me this is not true???
 

halfnode

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That is true, good idea or not have to see how much you will earn after paying for rental,fees to move into the new bto.
 

Pokémon

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Apparently, my husband's friends told him that it's possible to sell our current 4 room BTO flat and upgrade to 5 room BTO flat.

You need to be clear what you are getting into. Is it that you will be applying another 5-Room BTO as a 2nd timer, wait for it to build then sell the current and move to the new one, or is it really buying a Resale?

Take note that Resale is not equal to BTO.

Anyway, as long as your current flat has already reached MOP, you can start looking for a Resale or apply for a BTO.
 

slashGNR

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Take note of the resale levy...the cost that you’ll need to pay when you sell your current subsidised flat to buy another subsidised flat.

4-room flat $40,000
 

䏣炆玧示老太

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2nd timer BTO want to draw 5rm not easy esp in mature town. Non mature town also not easy but slightly easier. Apply ballot drawn and win then think about how to arrange lar
 

tingsters

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Now BTO has lesser 5rm.. but more ppl to fight for a unit...
unless you ok with non mature lower units.. there might be chances.
somemore u are 2nd timer.. even worst....

u better check with yr husband is it resale or bto..
alot of different leh..

yr husband must be targeting the recent resale prices..
that he want to sell it as high as possible ba..
Check if your unit is already MOP?
i believe your husband will say this is mostly the unit shd be already MOPed.

Yr Next BTO u need to pay levy leh? u sure or not...
But u know current situation BTO now need alot longer time to built liao...

"The rules for CPF is that whatever you take out from your CPF account to finance your flat, you’ll need to return it when the flat is sold.
The amount to be repaid is the principal amount withdrawn plus any accrued interest. Accrued interest is the amount of interest that the money you borrowed to pay for your flat would have earned had it been left in your CPF Ordinary Account (OA). "
 
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Tuckie

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Apparently, my husband's friends told him that it's possible to sell our current 4 room BTO flat and upgrade to 5 room BTO flat.

We are still paying for our hdb loan and monthly repayment is by CPF. I don't know how this resale thing works. But I'm sure that selling a flat that is still not fully paid for is a bad idea?? Husband say can one. Sell flat already, then money we paid for will be refunded back into CPF. CPF money can buy another BTO.

Please tell me this is not true???
This is true, after selling, whatever the cpf paid plus accrued interest will go back into cpf, and that can be used to pay for new flat downpayment. But do the calculations beforehand
 

1982-1994

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sell MOP 4r resale for 5r BTO;
4r prime location for 5r not as prime location can hoot
4r not as prime location for a 5r at ulu location is definitely a no brainer (for max profits)
4r ulu location for a 5r not as prime location is not ok

upcoming 5r/3Gen type under mature estate at most is at AMK?
 
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