09/06/2026
🚨 Thinking of buying an older HDB because it’s cheaper?
A couple recently approached me after finding a 3-room resale HDB for $480,000.
At first glance, it looked like a fantastic deal:
✅ Within their budget
✅ Savings seemed sufficient
✅ Monthly instalments looked manageable
But after reviewing their situation, we uncovered a costly surprise.
Because of their age and the remaining lease of the flat, they were not eligible for the full loan amount they expected.
The result?
💸 They would have needed to fork out more than $90,000 in cash just to complete the purchase.
And that’s before factoring in the renovation costs that often come with older flats.
Thankfully, they sought advice before proceeding.
Although they forfeited their $1,000 deposit, we managed to secure a newly MOP 4-room HDB that required minimal renovation and only about $20,000 cash upfront.
✨ The lesson?
The cheapest property isn’t always the most affordable property.
Before committing to any HDB purchase, make sure you understand:
✔️ Your loan eligibility
✔️ Lease-related financing restrictions
✔️ Total cash required
✔️ Potential renovation costs
A simple affordability check today could save you tens of thousands tomorrow.
📩 Planning to buy an HDB within the next 12 months?
Comment “HDB” or send me a DM, and I’ll help you understand your actual affordability before you place a deposit.
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