Let’s say you are now in a good financial position; with good job security, savings in your account and you’re ready to make your next Property Investment move.
What happens now? Should you wait for the “best” time to sell? Should you hold onto your current property, buy a 2nd and rent one out?
What are your options?
Many HDB owners don’t realize the huge opportunity cost of holding on to their HDB flats.
Most of them are playing the waiting game with the assumption that if they wait long enough, their HDB flat price will appreciate, and they will earn more if they hold more.
This isn’t always true, especially if they have purchased their flat using their CPF savings.
If you financed your HDB flat with your CPF savings, part of your sales proceeds will have to be paid to your CPF ordinary account.
This is why some Singaporeans prefer to simply pay their mortgage with cash instead of using their CPF.