1. Obtaining home loans
The chief concern is the first five per cent. If your sale proceeds would leave you with no cash , then you may need to save up before you can make the leap.2. Restrictions on CPF usage In addition to this, there are limits to how much of your CPF you can use. This is not a factor for BTO flats, but it does matter for properties such as condos. We cover details such as the Valuation Limit and Withdrawal Limit in this article; for example, you can only withdraw up to 120 per cent of your private property's value from CPF, before you must start servicing its cost in cash.
Provided you sell your flat within six months of buying your new property, you can claim ABSD remission — but you must be a married couple, and at least one of you must be a Singapore Citizen.