Anonymous
Is it wise to sell my HDB and buy another flat in this scenario?
Currently living in low floor, 6 yrs old 5i HDB bought at $540,000, intend to sell at $510,000. Then, buy & move to another high floor 5i HDB at $450,000
I want to see if it's financially wise to do so? Thanks
Age 45yrs old CPF Status and loans:
Paid to BANK $120,000 / Paid to HDB $78,000
Payment for Valuation / Stamp / Legal fees $12,000
Accrued interest $26,000
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Not sure what is the intention but I do not see the benefit.
When u r selling, u will incur some cost like agent fees and legal fees, that will cost ard $15k.
When u buy, u incur agent fees again plus legal fees, reno, mover, etc, thats approximately another $40k. So total sunken cost is around $55k.
$450k plus $55k, that's about $505k, same as yr selling price, u don't gain anything and u get stucked for another 5 years.