Did we harm ourselves? Or is it the Government fault?
Like how DTLIM commented, the allowance of more usage has lead us to deplete our CPF money faster than ever. It’s actually quite scary, that Govern allowed CPF savings to pay for more than one property ( Very bad for the low/middle Income group)
Have the Allowance of CPF used for housing a good thing?
There was a study done by the Government as you can see, the average Singaporeans doesn’t shift to a smaller house but always to a bigger house! The number is actually not shocking because we humans are always looking for improvement, aren’t we?
So what do we have to pay when we move house?
- CPF Refund (With accrued interest)
- Resale Levy (Not applicable for DBSS/EC/Resale flats/PRP)
- Range from $15k – $55k
- Outstanding loan
But is all about my CPF… it doesn’t …