facebookShould I use my CPF monies to buy a resale 3rm flat and collect cash to offset my current rental cost? - Seedly

Advertisement

Anonymous

20 Apr 2021

Property

Should I use my CPF monies to buy a resale 3rm flat and collect cash to offset my current rental cost?

I am 31 SC and my wife is 30 LTVP. We are waiting for her PR and renting a unit. Does it make sense that I use my CPF monies to buy a resale 3rm flat and collect cash to offset my current rental cost?

Discussion (1)

What are your thoughts?

Learn how to style your text

You can do so.

If you buy now, you'll buy under non-citizen spouse scheme.

Where you also have to stay for 5 years and only can rent out bedroom. as you'll be under MOP.

As such your rental might be compromised.

I guess the way to go is for her to get a private property then and pay ABSD 5%

Zac

04 Mar 2021

Noob at Idiots Invest

Yes, accrued interest only applies when you want to sell your flat, but bear in mind that when your wife turns citizen and let's say you want to buy a new flat or anything - you cannot own two HDB properties. So you will have to sell your resale then.

Anonymous Poster

14 Feb 2021

Thanks for your reply Shaun.. Assuming i don't sell it and just rent it out all the way.. i guess accrued interest don't apply to me?

Ok I just checked HDB website. It is possible...

Write your thoughts

Advertisement