The same HDB flat I am living in now
A smaller HDB flat that’s easier for me to take care of
With my family in their flat
Did you know that you can unlock the value of your flat while continuing to live in it? Besides renting out spare bedroom(s), you can consider taking up the Lease Buyback Scheme!
The Lease Buyback Scheme caters to senior homeowners aged 65 or above living in all flat types*. You can sell part of the lease of your flat to HDB to receive a cash bonus and a stream of retirement income for life. Use the tool below to get a rough idea of how much you can unlock from your flat!
*Excluding short-lease flats, HUDC, and Executive Condominium units
This example assumes that your flat has two Singaporean owners, both aged 65 years old, with initial CPF Retirement Account balances of $20,000 and $5,000 before taking up LBS. It also assumes that your flat has xx years of lease remaining, and you choose to retain a 30-year lease on your flat. For more personalised information, please visit any HDB Branch. You can also click here to find out more about the Lease Buyback Scheme and here to find out more about renting out your spare bedrooms.
This example assumes that your flat has two Singaporean owners, both aged 65 years old, with initial CPF Retirement Account balances of $20,000 and $5,000 before taking up LBS. It also assumes that your flat has xx years of lease remaining, and you choose to retain a 30-year lease on your flat. For more personalised information, please visit any HDB Branch. You can also click here to find out more about the Lease Buyback Scheme and here for more details.
When it comes to finding the ideal home, bigger is not always better! For some families, a smaller home may meet their needs better. Here’s how right-sizing can benefit you:
Smaller homes are cosier, less costly to maintain, and require less housework!
If you right-size into a 2- or 3-room flat, you can get up to $20,000 cash with the Silver Housing Bonus. Use the tool below to see how this could work for you.
You could look for a smaller home nearby.
Younger estates have a lot to offer too!
Here’s an example of how seniors like you could benefit from the Silver Housing Bonus by right-sizing to a 2-room Flexi flat:
If you plan to live together with your family members in your golden years but wish to keep your flat, renting out your home could be a good option for you to supplement your retirement income. Use the tool below to get a rough sense of the rental rates today.
Did you Know?
HDB flat owners are encouraged to make partial capital repayment for their HDB loans, if they are financially ready to do so. There are no administrative costs or penalties involved in making an early repayment, and the repayment can be done online via the HDB InfoWEB. Those who choose to make a repayment using cash instead of CPF monies will also continue to earn an interest of at least 2.5% p.a. in their CPF account. Flat owners who choose to repay part or all of their mortgage loans earlier will enjoy interest savings. As an illustration, here are two examples of potential interest savings based on the specific conditions shown:
Wherever you are in your housing journey, there are schemes and grants to help you. Find out more about them here.
Find out more about the different estates through our videos and articles.
Start on your journey to owning your first home the smart way. Find out how to plan better by making use of our online tools.Read More