New or resale executive condominium?

Assuming you are well conscious of what an executive condominium is, and you’re excited about buying an EC soon, it is the right time to get familiar with the marketplace. Purchasing an executive condominium can definitely end up being a good idea as the unit will not simply enable a man or woman to get a house, but in addition bring in profitable returns once the property is privatized. Moreover, executive condominiums, also called ECs, are the sole housing alternatives available to the folks of Singapore who don’t make enough money to purchase private condo units.
HDB does not permit private property owners to get new flats. HDB releases a website, and invites Singaporeans to buy a unit. To begin with, when you purchase a HDB flat, you’re buying it from HDB itself. If you’re upgrading from HDB to EC and don’t want to pay extra, you want to observe the list below! If you have a HDB flat currently, you’ve got to produce plans to sell off your present HDB as soon as the EC is all about to get the Temporary Occupation Permit (TOP).
The units are of different dimensions and you may choose according to your requirement. After ten decades, the purchased unit can subsequently be sold to foreigners. If you’ve already bought two housing units, you aren’t going to be qualified to apply or be listed as an important occupier in an application. If you’ve already bought two such housing units, you will not be qualified to submit an application for, or be listed as an important occupier in an application.
If you don’t qualify for a HDB loan, you might have to to try to find different alternatives like a private property loan for which you have to usually be at least 21 years old and must have a yearly income of S$24,000. You haven’t taken more than 1 loan for a HDB flat before. Before you select your house loan though, here are 4 things you should think about when comparing home loans.