facebookShould I keep or sell my HDB? I’m currently staying in a rented condo and leased out my HDB. I’m thinking to buy a condo but struggle to decide if I should keep or sell my HDB? - Seedly

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Anonymous

18 Apr 2019

Property

Should I keep or sell my HDB? I’m currently staying in a rented condo and leased out my HDB. I’m thinking to buy a condo but struggle to decide if I should keep or sell my HDB?

My HDB is in a mature town leasing out for $2600 per month currently. I can probably sell this at around or near to 700k. The HDB is now 15 years old and already been paid off.If I’m keeping my HDB then I will have to pay ABSD of 7% which work out to be 70k or more (my target condo price is between 1 to 1.3m), I will probably need 3 to 4 years to offset this ABSD with my rental income minus tax. If I’m going to sell my HDB then I can en-cash and pay much lesser cash for the upfront payments for the condo. Government is unlikely to relief ABSD soon and I don’t see HDB price be growth substantially in the next few years. That said selling may be a better option, but there are other considerations. Buy/sell commissions, once I do this and difficult to go back and buy HDB in the future, good to keep HDB for rental with reasonable rental yield...etc. Should I keep or sell my HDB? Welcome for advices and suggestions.

Discussion (4)

What are your thoughts?

Daryl Koh | TeamFatherAndSon.com

Daryl Koh | TeamFatherAndSon.com

17 Oct 2018

Associate Marketing Manager at Propnex

With the current information I'm given and the recent trends in the real estate market. I would definitely sell off the HDB, buy a new launch condominium and rent while you're waiting it's completion. However, it's simple to say here, we really have to look at all the fine, minor details which will affect your Cashflow and timeline. Talk to me if you want to find out more @ 97330777. Cheers!

Teo See Hwa

Teo See Hwa

09 Oct 2018

MArketing Associate at Propnex

You got a few option but you did not provide enough info.

Nicholas Woon

Nicholas Woon

25 Sep 2018

Associate Division Director at ERA Realty Network Pte Ltd

Hi!

I'm assuming you are a Singaporean. The ABSD rate for 2nd property for SC has increased fro...

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