Is your home part of your retirement plan?
Tell me what you own and when you plan to stop work. I will lay out what selling, renting or staying would each give you, in writing, including the building costs most plans miss.
WhatsApp James →For most Singaporean households, the home is the biggest asset they own and the one their retirement plan says least about.
Your property can fund retirement in three ways: sell and right-size to free cash, rent out all or part of it for income, or release value while staying, through HDB's Lease Buyback Scheme or a private equity loan. The catch is cost over time: lease, maintenance and levies decide which route actually pays.
Route one: sell and right-size
Selling a larger home and buying smaller frees cash and usually cuts monthly costs. Since 28 July 2026, private owners can buy an HDB resale flat without the 15-month wait-out, under conditions set out in what changed for downgraders.
HDB's Silver Housing Bonus gives up to $30,000 for right-sizing to a 3-room flat and up to $40,000 for a 2-room or smaller, for owners aged 55 and above who meet its income and property conditions. Private homes must have an Annual Value of $31,000 or less to qualify.
Route two: keep it and rent
Renting out the whole home only works if you have somewhere cheaper to live. Renting out a room works if you stay, subject to HDB's or your MCST's rules.
Rent is income, but it comes with costs: higher property tax on a non-owner-occupied home, agent fees, repairs and empty months. The retired couple worked example shows how far apart the gross and net figures can be.
Route three: release value and stay
HDB's Lease Buyback Scheme lets owners aged 65 and above sell part of the remaining lease back to HDB, keep living in the flat and top up their CPF Retirement Account. On HDB's published terms, the household income ceiling is $14,000 and there is a cash bonus of up to $30,000 for 3-room or smaller flats.
Private owners can look at an equity loan, which releases cash but adds debt. At 55, CPF also lets owners with a suitable property pledge it and set aside a lower sum in the Retirement Account; check the current rules with CPF Board.
| Route | Best for | Watch out for |
|---|---|---|
| Sell and right-size | Owners with more space than they need | Selling costs, finding the next home |
| Rent out | Owners with a cheaper place to live, or a spare room | Tax, vacancy, building rules |
| Release and stay | Owners who want to stay put | Debt (equity loan) or a shorter lease (LBS) |
What the market isn't telling you
Retirement plans usually treat the home as a fixed number. It is not. An older condo's maintenance fees rise as lifts, pipes and facades age, and a special levy can arrive in the very years your income stops.
Leases matter too. A flat with fewer years left is harder for the next buyer to finance, as I explain in the 55-year lease cliff. If selling is part of your plan, check whether your sell window is closing.
How to choose between the three
Start with where you want to live. If the answer is a smaller home, route one is the natural fit. If you want to stay and have an HDB flat, look at the Lease Buyback Scheme. If you have family to live with or a spare room, renting may work.
Then check the money. Each route should leave you with enough monthly income plus a buffer for the building's costs. If none does on its own, a mix, such as renting a room for a few years before right-sizing, can bridge the gap.
Compare the three routes on your own numbers
I will set out what each route gives you each month and over twenty years, including the building costs. No pitch, just the working.
Get my free review →What I think you should do
Speak to a licensed financial adviser for advice specific to your situation.
Decide where you want to live at 75, then work back. If it is somewhere smaller, sell while you are able and the lease still appeals to buyers. If it is the same home, plan for its rising costs now.
Run the numbers on all three routes before you choose one. The Property Resilience Check is a quick first step.
In the older estates I managed, the residents who struggled most in retirement were not the poorest. They were the ones whose plan had no line for the building's own ageing.
Frequently Asked Questions
Can I use my property to fund my retirement in Singapore?+
Yes. The three main routes are selling and right-sizing, renting out all or part of it, and releasing value while staying, through HDB's Lease Buyback Scheme or a private equity loan. Each has costs, so compare them on your own numbers.
Who qualifies for the Lease Buyback Scheme?+
On HDB's published terms, all owners must be 65 or older, at least one a citizen, with household income of $14,000 or less, the MOP met and no private property. Enough lease must remain to sell part of it back. Check current terms with HDB.
How much is the Silver Housing Bonus?+
Up to $30,000 for right-sizing to a 3-room flat and up to $40,000 for a 2-room or smaller, for eligible owners aged 55 and above. Private homes with an Annual Value between $21,000 and $31,000 receive less. Check current terms with HDB.
Is renting out my condo better than selling in retirement?+
Only if you have somewhere cheaper to live and the net rent, after tax, fees, repairs and vacancy, beats what the sale proceeds could provide. Many owners find the gap between gross and net rent is larger than expected.
What happens to my home at 55 with CPF?+
Your CPF Retirement Account is created at 55. If you own a suitable property, you may be able to pledge it and set aside a lower retirement sum. The rules are set by CPF Board, so check them before you plan around it.
Sources+ Show all 6 →− Hide
- HDB, Monetising your flat for retirement (Lease Buyback Scheme and Silver Housing Bonus terms, accurate as at Dec 2025), 2026
- HDB and Ministry of National Development, removal of the 15-month wait-out period, 28 Jul 2026
- CPF Board, using your property to set aside a lower retirement sum at 55, 2026
- IRAS, property tax rates for residential property
- Singapore Land Authority, Bala's Table on leasehold values
- Building Maintenance and Strata Management Act (BMSMA), maintenance and sinking funds
This article is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Property investments involve risk. Past performance is not indicative of future results. Readers should seek independent advice from licensed professionals before making any property or financial decision. James Ong is a licensed real estate salesperson (CEA Reg No. R008385F) with PropNex Realty Pte Ltd and is not a licensed financial adviser.
James Ong | CEA Reg No. R008385F | PropNex Realty Pte Ltd · WhatsApp wa.me/6591111173
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