Can first-time home owners rent their properties?
One Owner asked me today as to whether new home owners are bound by same regulations as the HDB (public housing) apartments and cannot rent out the unit. I do not think so, but please refer to your loan agreement with the bank. The bank may have given you a lower interest rate loan on condition that you do not reside in the unit. I know of one bank which increase the interest rate when the Owner rents out the apartment. Case 5. Freehold and private property recommended for first-time buyer. If you have a choice, buy a freehold or 99-year leasehold private property rather than the HDB or executive condo. When your children grow up and need money for further education overseas, you will find that the bankers will say NO to your request for loan. This is because HDB properties cannot be mortgaged to private banks. You may have bought it for $100,000 and it is worth $500,000 now. For private properties, the bank may give you a loan of $250,000 easily. Unless the Government changes its poli
