Скачать или смотреть How To Upgrade Your HDB (to a Condominium) - Ava Ong

Let's talk about how you can upgrade your HDB to a condominium, and I've broken it down into 7 easy steps on how you can do it. Add me on Instagram: Avaongrq

NUMBER ONE: UNDERSTAND THE PAYMENT STRUCTURE OF YOUR CONDOMINIUM.
Your condominium will be funded by the CPF refund and cash proceeds from the sale of your HDB, your bank loan, and your CPF Ordinary Account.

NUMBER TWO: WORK OUT YOUR HDB SALES PROCEEDS.
Take the estimated selling price of your house and deduct your outstanding loan, your CPF refunds with accrued interest, as well as any miscellaneous fees. The amount you get will be the sales proceeds from your HDB.

NUMBER THREE: CHECK HOW MUCH YOU CAN LOAN.
Speak to any banker and get an In-Principle Approval for a private property. Worried about the rising interest rates? Speak to me to understand what's best to do in this situation.

NUMBER FOUR: CHECK YOUR CPF OA BALANCE.
This can be easily obtained by logging into your CPF portal with your SingPass.

NUMBER FIVE: ADD EVERYTHING TOGETHER.
You will then have a rough figure of how much you’ll want to purchase. Remember to factor in for the stamp duties and other miscellaneous fees.

NUMBER SIX: CONFIRM THE PAYMENT TIMELINES.
Since you're also relying on your sales proceeds to fund your next purchase, this is super important and you want to get this right. You will need to confirm the payment deadlines for the condominium and make sure your sales proceeds from your HDB, come in time to pay for it. Speak to a licensed agent to make sure you nail this part down!

NUMBER SEVEN: TAKING ACTION.
Once you work out the details of selling your HDB, ensure the timelines are right, it's time for the fun part! - searching for and buying your new condominium.

THANK YOU :)