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Thread: is it good to wipe out all your cpf for you flat?

  1. #11
    Join Date
    Sep 2009
    Posts
    115

    Default

    ok ok. . . let me explain. lets say u want to stay in a condo but cant afford to buy one. so, u can rent one. to do this, u rent out your HDB apartment and collect some cash and with that cash, u pay the rental fee for the condo.

    what i said was difficult, is when u use the rent u collect from the HDB flat to pay for the purchase of a condo.

  2. #12
    Join Date
    Jan 2008
    Posts
    250

    Default

    oh ok ok. i got it now. but my brother intention is to purchase the condo and use the rental from the HDB to help finance the purchase loan though i think might be insufficent, i think he might need to top up but the rental would help alot.

  3. #13
    Join Date
    Feb 2008
    Posts
    395

    Default

    I was just reading this post interesting!
    Buy a condo and plan to service the condo with rent from the Hdb!
    Humm, I think there are a few consideration here that needs to be plan out ;
    1) is your brother eligible to rent out his Hdb?
    2) can the rental pay for the mortgage of his servicing condo.
    Usually to make sense is to rent out the condo which fetch better price to service the loan of condo, Sheldom the other way.
    Of course , assuming part one is clear and that your brother serving for the condo is sufficient with the rental of the flat ; than probably It is okay.

  4. #14
    Join Date
    Jan 2008
    Posts
    250

    Default

    i not sure if he is eiligle but i thought as long as you stay in the HDB for more then 5 years then you can rent out the whole house.

    as for the condo, they are aware that the rental from the HDB is insufficient but to pay the mortage for the condo but they are willing to fork out moeny to stay.

    they are looking for confort of staying in the condo more than making money from it.

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