2 Rules For Buying an Old HDB Resale Flat
Aug 9, 2017 · 2 min read
Home is where our heart lies. So we usually never back off in paying a good deal of money for the property that get through to us. There are quite uncertainties associated buying and selling HDB flats in Singapore. Some may also end up being homeless in when the old flat leases starts expiring.
Follow are the 2 rules that you should follow while buying an old HDB resale flat in Singapore:
- Do have savings or investments apart from your home
Before investing on your dream home do have savings otherwise you may put into trouble. Many people use CPF system these days to pay for their houses.
As the homes in Singapore are very expensive do not take the wrong decision of buying a huge property by thinking that you can retire whenever you want to. The government said that HDB flats can be a great option for asset value if you make proper property buying decisions in Singapore but you need to wait for years s for a BTO in a non-mature state.
You should have savings and investments before buying a property mainly if it is an old HDB resale flat because you are really not aware of the mishaps that may occur in the coming days. - 2. Aim for a higher return on investment while buying your property
When the lease is about to end you can the value of your property is ought to decrease significantly. The restrictions on loan can lessen the number of buyers and your prime motive should be to get your flat selected by SERS. You always do not need to sell your flats for making money. You can even rent it out to earn profits. Do have a clear idea on the price of the flats you want to buy so that you do not end up in paying whatever they ask for. Also check the resale prices you can ask for in future so that you can invest on them at the best time.
