With the recent announcement by the Singapore government to allow greater flexibility of the Central Provident Fund (CPF) usage and housing loans for homebuyers, the HDB resale market has seen a sharp increase of 30% in the number of units sold as compared to the first quarter of the year. While many are jumping on the bandwagon, there is still a need to investigate the details before buying an older flat. Here are five key factors that you may want to consider before going on the hunt for your next home.
How Much of Your CPF Can You Utilise?
With the rising concern of adequate retirement funds among Singaporeans, new rules have been put into place in May to allow more flexible CPF usage for home purchases. With this change, homebuyers can utilise their CPF to fund the entire Valuation Limit of their property as long as the remaining lease