HDB stands for housing and development board. And HDB flats resealing means that someone who owns a flat is selling that property to someone else. And when people buy a flat from a resale, that means he is buying the flat from someone. It just requires a transaction of money and a signature on the papers of the property. As you can get the flat as soon as you deposit the amount of money in which they selling the flat. But there is one thing that you will not get a flat for does a fresh long-lasting 99-year lease. But, indeed HDB resale flat packages are the best.
What is this 99-year lease thing?
It is a very simple concept. BTO flats do possess a feature that it comes with a 99-year lease, which means that the next generation, that is your children will be allowed to live in the house for the whole rest of their life. BTO flats are of lesser value than hdb resale flat renovation package. Although, it would not be that great for a person who is left with a life of fewer than fifty years.
Is it profitable to buy HDB resale flats?
Yes! It is profitable to buy resale flats because resale flats get ready for resale after the owner makes the flat perfect for resale. It also comes with tax benefits. Also, you can buy only one HDB flat property at a time. You get flat in resale with very a prices which is very less from the market price.