How do we compare a cheaper older flat when the remaining lease may limit CPF use?
HousingThe older flat was nearer our families and cost $65,000 less than the other one we'd shortlisted. My partner said, "We have enough in CPF for the difference anyway." I asked whether the shorter lease changed how much of that balance we could use.
We're looking at resale flats in Singapore. In our rough comparison, the older option has about 52 years left on its lease. The younger buyer is 30. We haven't confirmed the exact lease information, run the official calculation with our details or obtained a financing assessment. The quoted price difference alone is easy to understand; the funding difference is not.
[CPF Board guidance](https://www.cpf.gov.sg/service/article/how-much-cpf-savings-can-i-use-to-buy-a-property-if-its-lease-does-not-cover-the-youngest-buyer-to-age-95) says the permitted amount can be prorated when the lease does not cover the youngest buyer to age 95, subject to the relevant conditions. An available CPF balance isn't automatically the permitted housing-use amount.
What should we establish before choosing on the strength of the lower price? We like the older home for reasons beyond cost, but I want to know whether the cash and financing plan can support that preference instead of discovering the gap after committing.