For many homeowners, completing the five-year mark means that it’s time to sell the flat. More often than not, you can sell it for a tidy profit, especially given that the flat was initially priced with subsidies.
This is because the flat is only five years old, with around 94 years of remaining lease and is still in good condition. It makes the flat much more desirable to buyers, as they probably don’t have to spend much on renovation.completed its MOP was sold for $745,000What’s notable about the transaction is that its price during the BTO launch ranged from $315,000 to $373,000. This means that the owners made a paper gain of $372,000 to $430,000, or around 100 per cent to 137 per cent.
Ask yourself why you’re looking to sell. Is it solely because of the high paper gain or the need to move closer to your kid’s primary school? Are you looking to move to a bigger flat or a condo? Compared to HDB loans, the maximum financing you can take for bank loans is 75 per cent of the purchase price or valuation, whichever is lower.
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