Why HDB Homeowners Sell Their Flats

In the past, it is common thing for HDB flat owners to hold on to their flats for a long period of time. They had bought their flats very cheap, some for only tens of thousands of dollars. There was no hurry to sell quickly as the homeowners are confident they will remain very profitable.
But times have certainly changed with the ever rising prices of HDB flats. There are various good reasons why HDB homeowners today will sell ​their flats, often in just five to ten years.
They may wish to:

• Upgrade to a bigger HDB flat due to a growing family size
• Upgrade to an EC or a condo to grow their assets and build their retirement fund
• Relocate their homes to be near their parents, the workplace or their children's schools
• Right-size to a smaller HDB flat to cash out for their retirement needs

Many HDB Homeowners Need to Sell First Before They Buy

In our work with HDB homeowners, many of them do not have sufficient fund to buy the next property first. Selling their flat first would allow them to have the CPF used for the flat and the respective accrued interest returned to their CPF account. They will also receive the cash proceed, if any, from the sale of their flat. Together with a home loan and their current CPF balance, the total sale proceeds will help to finance the purchase of the next property. For HDB homeowners upgrading to a private property, they would also have to incur the hefty ABSD (additional buyer's stamp duty) if they proceed with the purchase of the private property first before disposing the HDB flat. 

Why You Should Engage Terence & Raymond to Market & Sell Your HDB Flat

We have helped so many HDB homeowners market and sell their flats quickly and at a good price too so they can proceed to, either:

1. Cash out for their retirement and right-size their next flat, or
2. Upgrade to a larger HDB flat, EC or condo.  

​Rest assured we are very familiar with HDB resale policies and processes that may seem rather complicated for the average HDB homeowner. We are, therefore, able to advise and help you effectively manage the HDB resale timeline.  You can be confident we will do the necessary financial calculations to ensure your property transactions can be done safely and smoothly. Above all, we take time to understand your needs and concerns so as to provide you with trustworthy, professional advice.  Contact us today for a friendly chat to see how we can help you too.
​Learn how we've helped some of our clients and what they think of us.