HDB and Condo

[micollh]

anyone can advise, if i already paid up mu HDB loan, meaning completed the payment and thinking of buying a condo .. how should i go about it? is it still allowed with the new housing rules? i understand that if i were to get a condo, i cant stay in it? but have to stay in HDB and rent out the condo ? Pls advise. Thanks

[financial_guru]

anyone can advise, if i already paid up mu HDB loan, meaning completed the payment and thinking of buying a condo .. how should i go about it? is it still allowed with the new housing rules? i understand that if i were to get a condo, i cant stay in it? but have to stay in HDB and rent out the condo ? Pls advise. Thanks

There is a minimum occupation period of 5 yrs before HDB owners can buy a private property.
Check out: http://www.hdb.gov.sg/fi10/fi10296p.nsf ... enDocument

There's a table below illustrating the new rules

[micollh]

There is a minimum occupation period of 5 yrs before HDB owners can buy a private property.
Check out: http://www.hdb.gov.sg/fi10/fi10296p.nsf ... enDocument

There's a table below illustrating the new rules

will be 5 years after this year. so after 5 years can buy condo. but still it's for renting out cannot stay in right? meaning if i were to buy a condo now, i have to stay in HDB but rent out the condo ?

[financial_guru]

will be 5 years after this year. so after 5 years can buy condo. but still it's for renting out cannot stay in right? meaning if i were to buy a condo now, i have to stay in HDB but rent out the condo ?

I can't find any further restriction after the 5 yr period. I think you can choose to stay at either one and rent out the other. Its your choice.

[micollh]

I can't find any further restriction after the 5 yr period. I think you can choose to stay at either one and rent out the other. Its your choice.

r u sure? this is not wat i was told. tt's why i want to check. they said if u owned HDB, u buy condo, u cannot stay in condo. but have to stay in HDB.

[financial_guru]

r u sure? this is not wat i was told. tt's why i want to check. they said if u owned HDB, u buy condo, u cannot stay in condo. but have to stay in HDB.

Were you told by a HDB employee? You can try their cust service line at 1800-8663066, but they close at 5pm

[starlight1968sg]

I can't find any further restriction after the 5 yr period. I think you can choose to stay at either one and rent out the other. Its your choice.

r u sure? this is not wat i was told. tt's why i want to check. they said if u owned HDB, u buy condo, u cannot stay in condo. but have to stay in HDB.

I was told the above too;
I have to stay in hdb but rent out the condo.
But this is never my preference; I would like to live in the condo and rent out my hdb flat.

[QuiteKSMum]

micollh, you may want to read these :

http://www.hdb.gov.sg/fi10/fi10323p.nsf ... enDocument

http://www.hdb.gov.sg/fi10/fi10323p.nsf ... enDocument

http://www.todayonline.com/Hotnews/EDC110413-0000398/H

[teh_oh]

Hi,
When I read the details of the application form included in the link given above, it did not state restrictions that HDB owners cannot stay in private property and rent out HDB. However, this may be one of the criteria they look at when assessing your application to rent out the flat.

Under the application form, under Reasons for Subletting (item l):

l. Flat owners of subsidised flats (flats purchased directly from HDB or from the open market with a CPF housing grant) who have occupied their flats for at least 5 years.
Reasons Reasons^ (Refer to Annex A1 or B1):
_____________________________________________________________________________________________________

Then under Annex A1,
Flat owners applying to sublet the whole flat under “k” (occupied the non-subsidised flat for at least 3 years) or “l” (occupied the subsidized flat for at least 5 years) have to provide the reason for subletting in Main Application Form.
Please select one of the reasons appended below and fill it in Main Application Form.
Reasons For Subletting of Flat (“k” and “l”)
•
Stay in quarters provided by employer;
•
Stay in living quarters of commercial premises;
•
Stay with aged parents to take care of them;
•
Stay with children/relatives due to illness;
•
Stay with parents who take care of my children;
•
Stay at own private property;
•
Work overseas;
•
Study overseas;
•
Need additional income for retirement;
•
Need additional income for other financial needs; or
•
Rental income is attractive.
•
Others (please specify it in Main Application Form)




Am I missing anything here? Are there any new regulations?

[micollh]

I can't find any further restriction after the 5 yr period. I think you can choose to stay at either one and rent out the other. Its your choice.

r u sure? this is not wat i was told. tt's why i want to check. they said if u owned HDB, u buy condo, u cannot stay in condo. but have to stay in HDB.

I was told the above too;
I have to stay in hdb but rent out the condo.
But this is never my preference; I would like to live in the condo and rent out my hdb flat.

me too.