35 and single: What type of HDB flats can single Singaporeans buy?

[GachiMuchi]

35 and single: What type of HDB flats can single Singaporeans buy?

AUGUST 21, 2020PUBLISHED AT 2:54 PMByKENNETH FONG

 

I was having ma la xiang guo for lunch, with an old friend from BMT, when the conversation invariably turned to one of three things:

• How is work?
• How is married life?
• What is it like to have my own place?

He was particularly interested in the last point because, according to him, my place is aesthetic AF:

Also, he’s at the age where he would really like to have a place to call his own.

But the problem is, he’s single and not 35 years old yet (more on this in a bit).

And unfortunately, a condominium is out of his budget.

Which got me thinking…

What if I were single and younger than 35?

What kind of HDB housing options would be available for me?

TL;DR: What type of HDB flats can single Singaporeans buy?

PHOTO: Seedly

If you are a single permanent resident

You cannot buy an HDB BTO flat or an HDB Resale flat either.

The latter is only possible if you form a family nucleus or are legally married.

So your only option is private housing.

If you are a single Singapore citizen

As a single, 35-year-old, Singapore citizen, you can buy:

• a 2-Room Flexi HDB BTO flat in a non-mature estate, or
• an HDB Resale flat on the open market

Here’s a quick summary of the pros and cons of both options:

HDB Flat Options for Singles	2-Room Flexi HDB BTO Flat (99-Year Lease)	HDB Resale Flat
Price	More affordable (from $90,000 excluding grants)	More expensive (from $243,000, median prices for a 3-Room flat)
Location	Non-mature estates only	No restriction
Availability	Lower (depends on HDB BTO launch)	Higher (depends on your preference)
Income Ceiling	$7,000 (per month)	None (but ceilings apply to grants)
Lease	99-Year	Remaining (less than 99 years)
Size of flat	36 to 38 sqm (Type 1) 45 to 46 sqm (Type 2) Note: 45sqm is about half the size of a 4-Room HDB flat	Varies (2 to 5-Room)
Waiting Time	Longer (about 3 to 5 years)	Shorter (almost immediately)
Able to Sub-let?	Yes (whole apartment; but only after 5-Year MOP)	Yes (can rent out rooms)

If you’re looking for an affordable option, the 2-Room Flexi HDB BTO is a clear choice.

If you need something quick and in an area of your choice, then an HDB Resale flat is the way to go.

Why do we need HDB housing options for singles?

Simple.

Because more and more Singaporeans are comfortable with singlehood or are putting off marriage until they’re older.

In fact, according to the Department of Statistics’ Populations Trends Report for 2019 .

The proportion of singles amongst the resident population aged below 50 years, rose between 2008 and 2018.

Among those aged 30 to 34 years, 40.4 per cent of males and 27.4 per cent of females were single.

This is up from 35.1 per cent and 24.4 per cent respectively in 2008.

And there’re many reasons why this is happening.

From putting their careers first to singlehood becoming an acceptable lifestyle.

Or in my friend’s case… the fact that he can’t marry his partner legally despite Singaporeans becoming more liberal towards gay marriages .

Which means that in the eyes of the law, he and his partner are technically single.

And that also means that they do not qualify for most HDB schemes that would otherwise allow heterosexual couples — who are married or are eligible to marry — to purchase an HDB flat.

What are the HDB eligibility requirements for singles?

Since we’re talking about HDB flats, it’s a no-brainer that they are only available to Singaporeans or Permanent Residents (PRs).

And even then, PRs are only eligible to purchase an HDB BTO flat if their spouse is a Singapore citizen.

So if you’re a single PR, an HDB flat is out of the question.

For Singapore citizens, you have to be at least 35 years old to apply as an unmarried or divorced individual.

Unless you’re an orphan with no siblings, then you may apply for your own flat under the Orphan’s Scheme when you turn 21 years old.

You’ll also need to deal with the Ethnic Integration Policy (EIP) and Singapore Permanent Resident (SPR) quota .

St Nicholas Girls’ School Alumnae Association
PHOTO: Facebook

It’s to ensure a balanced mix of various ethnic communities in our HDB towns.

So as to preserve our multi-cultural identity and promote racial integration and harmony.

TBH, the EIP and SPR won’t be a huge problem in terms of affecting your eligibility.

But it’ll probably affect your flat’s location depending on the quota.

What type of HDB flats can singles buy?

Assuming you’re a single, 35 years old, Singapore citizen.

You can choose to buy either a 2-Room Flexi HDB BTO flat in a non-mature estate.

Or an HDB Resale flat on the open market.

Here are some pros and cons of both options:

HDB Flat Options for Singles	2-Room Flexi HDB BTO Flat (99-Year Lease)	HDB Resale Flat
Price	More affordable (from $90,000 excluding grants)	More expensive (from $243,000, median prices for a 3-Room flat)
Location	Non-mature estates only	No restriction
Availability	Lower (depends on HDB BTO launch)	Higher (depends on your preference)
Income Ceiling	$7,000 (per month)	None (but ceilings apply to grants)
Lease	99-Year	Remaining (less than 99 years)
Size of flat	36 to 38 sqm (Type 1) 45 to 46 sqm (Type 2) Note: 45sqm is about half the size of a 4-Room HDB flat	Varies (2 to 5-Room)
Waiting Time	Longer (about 3 to 5 years)	Shorter (almost immediately)
Able to Sub-let?	Yes (whole apartment; but only after 5-Year MOP)	Yes (can rent out rooms)

2-Room Flexi HDB BTO in Non-Mature Estates : Affordable But Small

If cost is a major concern, then a 2-Room Flexi HDB BTO flat is the most affordable option.

But it’ll definitely be smaller in size.

To give you an idea of what kind of living arrangements you’re looking at, this is what a 2-Room Flexi (Type 1) will look like:

PHOTO: HDB

And this is the floorplan for a 2-Room Flexi (Type 2):

PHOTO: HDB

You’re also limited to applying for a 2-Room Flexi in a non-mature estate .

So that limits your choices, and you might not be able to live in an estate that’s your first choice.

Another thing to consider would be the limited availability of 2-Room Flexi flats too.

Because not all BTO projects will have 2-Room Flexi flats.

And even if they do, at least 40 per cent of 2-Room Flexi units in a project will be made available to the elderly.

One last bugbear is the waiting time .

After the booking of your flat, you’ll still have to wait about three to five years for your flat to be built.

So if you applied when you’re 35, you’d be moving into your new flat when you’re celebrating your 40th birthday.

HDB resale flat: More expensive but more readily available

If you want to get your own place asap, then you’ll probably want to explore your options on the resale market.

Where you can purchase almost any type of HDB Resale flat as long as you can afford it.

But doing so also means that it’ll definitely be more expensive .

Even if you went with the smallest HDB Resale flat currently available: a 3-Room HDB Resale flat.

Note: 2-Room Flexi flats were only introduced in 2015, so we’ll probably only see them on the market in 2025 when the first 2-Room Flexi flats have been completed and have fulfilled their five-year Minimum Occupation Period

You’d still be looking at coughing up at least $243,000 — this is a median amount based on HDB resale statistics correct as of 2Q 2020.

One more thing.

If your resale flat has less than 60 years remaining on its lease, the amount of CPF which you can use to pay for your home will be pro-rated.

So as your mortgage matures, you might find that you’ll need to fork out more cash to service it.

You’ll also want to factor in renovation costs , so if you’re going for a resale flat, make sure you purchase a flat that you can really afford .

What kind of housing grants are available for singles?

Thankfully, singles also have access to housing grants to help them finance their purchase.

The type of CPF housing grants that are applicable depends on what type of HDB flat you choose as a single.

HDB grant for singles: HDB BTO

Single Singapore Citizen Scheme

If you’re applying for a 2-Room Flexi HDB BTO flat as a single applicant.

• Enhanced CPF Housing Grant (EHG) (Singles) up to $40,000, with monthly household income capped at $4,500

Joint Singles Scheme

If you’re applying for a 2-Room Flexi HDB BTO flat with one or three other Singapore Citizen singles.

• Enhanced CPF Housing Grant (EHG) (Singles) up to $80,000, with monthly household income capped at $9,000

Orphans Scheme

If you’re applying for an HDB BTO flat (no restrictions on flat type) with a sibling who is a Singapore Citizen or PR, and parents are deceased.

• Enhanced CPF Housing Grant (EHG) (Singles) up to $80,000, with monthly household income capped at $9,000

HDB grants for singles: HDB resale

Single Singapore Citizen Scheme

If you’re buying an HDB Resale flat (no restrictions on flat type) as a single applicant.

• Singles Grant up to $25,000 (for 2- to 4-Room flat); $20,000 (for 5-Room flat or bigger), with monthly household income capped at $7,000
• Enhanced CPF Housing Grant (EHG) (Singles) up to $40,000, with monthly household income capped at $4,500

And if you live with your parents (meaning parents listed as occupants)

• Proximity Housing Grant of $15,000, with no income ceiling

And if you live near your parents (within 4km radius of your parents’ home)

• Proximity Housing Grant of $10,000, with no income ceiling

Joint Singles Scheme or Orphans Scheme

If you’re buying an HDB Resale flat (no restrictions on flat type) with one or three other Singapore Citizen singles.

OR if you’re buying an HDB Resale flat (no restrictions on flat type) with a sibling who is a Singapore Citizen or PR, and parents are deceased.

• Singles Grant up to $50,000 (for 2- to 4-Room flat); $40,000 (for 5-Room flat or bigger), with monthly household income capped at $14,000
• Enhanced CPF Housing Grant (EHG) (Singles) up to $80,000, with monthly household income capped at $9,000

FYI: if 2 singles apply, each applicant will receive half of the full grant each; even if more than 2 singles apply, a maximum of 2 applicants will receive the grant

Bonus: Pro tip for same-sex couple

For same-sex couples, like my friend, you can apply under either scheme — as long as both of you meet the abovementioned eligibility criteria.

However, when you’re applying under the Single Singapore Citizen Scheme.

Only one you can be the legal owner of the flat.

This means that the non-owner partner will not be able to use their CPF monies to pay for the flat or obtain an HDB loan.

They will also not have any legal rights or claim over the flat (eg. for renovation, rent, or selling of the flat).

So if both parties want to contribute to the payment of AND have legal rights to the HDB flat.

You’ll want to apply under the Joint Singles Scheme instead as both applicants will have their names recorded as co-owners .

So… Which should I get?

If you’re looking for an affordable option, the 2-Room Flexi HDB BTO is a clear choice.

If you need something quick and in an area of your choice, then an HDB Resale flat is the way to go.

One other interesting aspect of choosing a resale flat is that it gives you the ability to rent out rooms to generate additional income .

But with the 2-Room Flexi flat on a 99-year lease, you can only choose to rent out your whole apartment .

And that’s only after you meet the minimum occupation period of five years.

Apart from the pros and cons of sharing your home with renters, this definitely opens up a possible stream of passive income.

This article was first published in Seedly.

 

 

 

 

[Guest guest]

One question, if i am a single who have bought my first flat which is a resale flat. Am i able to apply for a 2 room bto after my resale flat MOP?

[repressednerd]

Some people told me they are intending to go for 2 room flexi BTO since some of the areas launching this year have layouts similar to the 1+1 condo unit (less balcony):

 

 

The 'study' even comes with a window from the floor plan, compared to some condos where the study is pretty much windowless.

 

But majority-wise, I see a lot go for resale since can get the flat before 40.

[Letsrelaxpp]

1 hour ago, Guest guest said:

One question, if i am a single who have bought my first flat which is a resale flat. Am i able to apply for a 2 room bto after my resale flat MOP?

If u have get the grants for resale flat,  you will not be able to apply for BTO. 

[Guest guest]

12 hours ago, Letsrelaxpp said:

If u have get the grants for resale flat,  you will not be able to apply for BTO. 

So cannot apply for 2 room BTO since i have got the grant for my resale flat. But if i apply for my first flat for 2 room bto and get a grant, after which i still able to buy a resale, right? But not the other way round?

[LeanMature]

12 hours ago, Letsrelaxpp said:

If u have get the grants for resale flat,  you will not be able to apply for BTO. 

 

I thought still can apply BTO but considered second timer without grant ?

[Guest Guest]

Is there really a need to start another thread on singles buying HDB when there is already a thread here from all the way in 2006? 

 

 

Or is this another lame attempt by the moderators to revive this boring and dying forum? Out of ideas much? Need to dust off some old records and sing back some old songs now? 

[LeanMature]

13 hours ago, repressednerd said:

Some people told me they are intending to go for 2 room flexi BTO since some of the areas launching this year have layouts similar to the 1+1 condo unit (less balcony):

 

 

The 'study' even comes with a window from the floor plan, compared to some condos where the study is pretty much windowless.

 

But majority-wise, I see a lot go for resale since can get the flat before 40.

 

I quite like this layout.  Any idea where is this project ?   Next BTO or already over ?

[earth_tone]

-

Edited September 12, 2021 by earth_tone

[Guest Scary]

1 hour ago, LeanMature said:

 

I quite like this layout.  Any idea where is this project ?   Next BTO or already over ?

Nowadays, only those 48sqm will have that "additional room" as dinning or bedroom.  The old 2-room BTO flexi don't have.  Also, don't be so happy,  when you were given additional "room", somewhere inside your house will have to be downsized - either from the kitchen or bombshelter or bathroom.  HDB will not expand the size of 2 room flexi, they just play with the layout.  Also, don't be so happy about having a window.  If it is facing closely with another neighbour opposite, you would rather have your privacy instead of having a freaky widnow with neighbour staring at you everyday.   Also.........if you are a Kitchen person,  2-ROOM BTO is always a challenge regardless it is 38 or 48 sqm size - literally no space to move about to do your laundry and no space to store additional can foods, detergent, groceriess....etc.  Dinning table certainly no space in there.    Also.....2-room BTO also not cheap, each year the government will increase its price depending on location.  Also....the grant you received, is considered part of CPF and accrued interest is caculated.  So if you sell your flat, you need to pay back the grant + accrued interest into your CPF de.  So you see, you need to plan long term, you need to treasure every property you buy,  you to stay there permanently, it became part of your life, not an investment.

 

Scary right?

[Guest Princess Laurel]

26 minutes ago, earth_tone said:

Would be nice to see some members posting their home decor of their new bto, if any

Hard to have nice decor in 2-room BTO.  You put in something, you need to take out something.  Otherwise very crammed.  2-room not suitable for junk hoarders too.  If you have that kind of weird personality to hoard stuff, 2-room will become a nightmare, and you would be better renting a warehouse with bigger space and much cheaper in rent and stay.  Decor is possible only in 3 room HDB flat, due to its larger kitchen, living space and additional bedroom.  My friend 3-room flat look like Buckingham palace. You go Imagine.

[LeanMature]

22 hours ago, Guest Scary said:

Nowadays, only those 48sqm will have that "additional room" as dinning or bedroom.  The old 2-room BTO flexi don't have.  Also, don't be so happy,  when you were given additional "room", somewhere inside your house will have to be downsized - either from the kitchen or bombshelter or bathroom.  HDB will not expand the size of 2 room flexi, they just play with the layout.  Also, don't be so happy about having a window.  If it is facing closely with another neighbour opposite, you would rather have your privacy instead of having a freaky widnow with neighbour staring at you everyday.   Also.........if you are a Kitchen person,  2-ROOM BTO is always a challenge regardless it is 38 or 48 sqm size - literally no space to move about to do your laundry and no space to store additional can foods, detergent, groceriess....etc.  Dinning table certainly no space in there.    Also.....2-room BTO also not cheap, each year the government will increase its price depending on location.  Also....the grant you received, is considered part of CPF and accrued interest is caculated.  So if you sell your flat, you need to pay back the grant + accrued interest into your CPF de.  So you see, you need to plan long term, you need to treasure every property you buy,  you to stay there permanently, it became part of your life, not an investment.

 

Scary right?

 

In the floor plan posted above, that additional room is designated as a "maid or caregiver" room.  There were some feedbacks to HDB that it was more practical to have an additional room than a bomb shelter, as some have a maid or their children who want to sleep over at their sick parents flat for short term.

 

48sq m is not really small for a single person or an elderly couple.  HDB built this type of flat for singles or elderly in mind who does mainly light cooking and does not need a big kitchen.

 

 

[Guest "FREE"]

1 hour ago, LeanMature said:

 

In the floor plan posted above, that additional room is designated as a "maid or caregiver" room.  There were some feedbacks to HDB that it was more practical to have an additional room than a bomb shelter, as some have a maid or their children who want to sleep over at their sick parents flat for short term.

 

48sq m is not really small for a single person or an elderly couple.  HDB built this type of flat for singles or elderly in mind who does mainly light cooking and does not need a big kitchen.

 

 

In that case, the price will go up loh.  Added room, added cost.  The old 2-room model is cheaper.   There is no free lunch if you know the type of garment Singapore has.

[Guest Sensor]

1 hour ago, starckyx said:

if u can afford a resale go for it. 2 room BTOs are waste of $ tbh

2-room BTO is VERY ATTRACTIVE when it is NEW.  However, not many people will know that it has no market value or will not have much benefit once it exceeded 20 - 30 years of age.  At least 3-room still have value even after 40 years of age.   It is important to look far and not buy just because it is "Cheap", which it is not!!!

 

2-room BTO is only suitable for short-lease, elderly who wished to downgrade and monetised from their current 4 to 5 rooms flat. They don't intent to stay long in their 2-ROOM flexi because they old already, not planning to live in 99 year leasehold.    Besides, 2-room BTO short lease also not cheap, depending on location.  It is beginning to price at the range of old 3-room HDB in resale market - those around 50 years old HDB.  So better, buy 3-room old resale HDB than to buy 2-room short lease BTO.

 

Hope the above make sense.

 

 

[Guest guest]

6 hours ago, Guest Sensor said:

2-room BTO is VERY ATTRACTIVE when it is NEW.  However, not many people will know that it has no market value or will not have much benefit once it exceeded 20 - 30 years of age.  At least 3-room still have value even after 40 years of age.   It is important to look far and not buy just because it is "Cheap", which it is not!!!

 

2-room BTO is only suitable for short-lease, elderly who wished to downgrade and monetised from their current 4 to 5 rooms flat. They don't intent to stay long in their 2-ROOM flexi because they old already, not planning to live in 99 year leasehold.    Besides, 2-room BTO short lease also not cheap, depending on location.  It is beginning to price at the range of old 3-room HDB in resale market - those around 50 years old HDB.  So better, buy 3-room old resale HDB than to buy 2-room short lease BTO.

 

Hope the above make sense.

 

 

How could a 40 year old 3 room flat still have value? I see all those 40 years old plus 3 room in the market selling so cheap, all $200k plus only.

 

2 room flat is good if the person wants to be debt free fast or can full paid a flat. Buying a resale 3 room if you buy those below 20 years old, price all not cheap, at least $370k. If you want to buy a good location, price starts from $550k to even $750k!

[Guest Lor here and there]

10 minutes ago, Guest guest said:

How could a 40 year old 3 room flat still have value? I see all those 40 years old plus 3 room in the market selling so cheap, all $200k plus only.

 

Do not confuse a 40 year old HDB with 40 years remaining lease.  The formal is still sought after, due to its sizes bigger than 2-room BTO. 

 

2-room BTO really very squeezy, you cannot invite guest to sleepover.  You cannot tango with another hunk inside there.  You cannot do cooking with your boy boy.   You shit, also have to wait for someone to finish using the bathroom first.

 

3-room, at least you enjoy space, matured estate and convenient of transport.   2-room BTO, you can only buy those ulu ulu place for SINGLE scheme.  Unless, you and your parents stay together than you can buy matured estate.

 

So ya, 3-room is suitable for those who can afford to buy.  If you cannot, then, too bad lor. Buy cheap and squeezy one lor.

[Letsrelaxpp]

4-room 1973 Tiong Bahru HDB flat sold for S$1.1 million

Everything is possible,  u just need to grab the crazy cash rich ones and there u go.....

 

Good location,  high floor and fully renovated flat even built in the 70s still can fetch up to 400k or more.  Try those in Chinatown or queen street area. 

[Guest guest]

5 minutes ago, Guest Lor here and there said:

Do not confuse a 40 year old HDB with 40 years remaining lease.  The formal is still sought after, due to its sizes bigger than 2-room BTO. 

 

2-room BTO really very squeezy, you cannot invite guest to sleepover.  You cannot tango with another hunk inside there.  You cannot do cooking with your boy boy.   You shit, also have to wait for someone to finish using the bathroom first.

 

3-room, at least you enjoy space, matured estate and convenient of transport.   2-room BTO, you can only buy those ulu ulu place for SINGLE scheme.  Unless, you and your parents stay together than you can buy matured estate.

 

So ya, 3-room is suitable for those who can afford to buy.  If you cannot, then, too bad lor. Buy cheap and squeezy one lor.

How come people always say until 2 room flat so bad, so small and squeezy? And people would not say 1 bedder condo is no good?

 

What do you mean by do not confuse a 40 year old HDB with 40 years remaining lease? 3 room flat really bigger in space, but not necessary convenient of transport even in matured estate?! Some matured estate 3 room not near to MRT also have.

[Guest CCB]

9 minutes ago, Letsrelaxpp said:

4-room 1973 Tiong Bahru HDB flat sold for S$1.1 million

Everything is possible,  u just need to grab the crazy cash rich ones and there u go.....

 

Good location,  high floor and fully renovated flat even built in the 70s still can fetch up to 400k or more.  Try those in Chinatown or queen street area. 

It is about location, location, location.  HDB was also aware. Thus they priced certain location beyond reach, even after grant.  Cunning bitch!

[Guest guest]

7 minutes ago, Guest CCB said:

It is about location, location, location.  HDB was also aware. Thus they priced certain location beyond reach, even after grant.  Cunning bitch!

You have to pay a price for something better and nicer. No way you pay cheap.

[Guest Fuck me!]

15 minutes ago, Guest guest said:

And people would not say 1 bedder condo is no good?

 

Only crazy people will buy 1 bedder condo.  Sounds so fucked!  I would use the same price to buy bigger posher HDB or even Jumbo size HDB for the same price of a 1 bedder condo just because it has private guard, swimming pool and all those non-essentials?  Oh, Fuck me if I do!

[Guest Lor here and there]

18 minutes ago, Guest guest said:

How come people always say until 2 room flat so bad, so small and squeezy?

 

You go check Youtubers who bought the 2-room BTO lor. They said want, not I say want.   The only upside is affordability lor.

[Guest guest]

6 minutes ago, Guest Fuck me! said:

Only crazy people will buy 1 bedder condo.  Sounds so fucked!  I would use the same price to buy bigger posher HDB or even Jumbo size HDB for the same price of a 1 bedder condo just because it has private guard, swimming pool and all those non-essentials?  Oh, Fuck me if I do!

Let's say 1 bedder condo in a good location pricing is $800k, would you use the same amount to buy a good location HDB? Many people would say even you a 1 bedder condo, it is afterall still a private property and can be an investment. Whereas HDB if you buy in when price is too high, you would never able to sell it higher when you want to sell in future. So in terms of value, condo still better than HDB even it is a 1 bedder condo.

[Guest Superficial Value]

4 minutes ago, Guest guest said:

Let's say 1 bedder condo in a good location pricing is $800k, would you use the same amount to buy a good location HDB? Many people would say even you a 1 bedder condo, it is afterall still a private property and can be an investment. Whereas HDB if you buy in when price is too high, you would never able to sell it higher when you want to sell in future. So in terms of value, condo still better than HDB even it is a 1 bedder condo.

What investment.  At the price of $800K, that condo is probably 99 year lease and will depreciate in value like HDB.  So superficial.

[FIRE2020]

9 minutes ago, Guest guest said:

Let's say 1 bedder condo in a good location pricing is $800k, would you use the same amount to buy a good location HDB? Many people would say even you a 1 bedder condo, it is afterall still a private property and can be an investment. Whereas HDB if you buy in when price is too high, you would never able to sell it higher when you want to sell in future. So in terms of value, condo still better than HDB even it is a 1 bedder condo.

 

I agree that paying high price for HDB is not too wise. Buying cheaper HDB flat options might be a good investment for retirement planning. Buying 3 room or 4 room resales flat would be better than 1 bedder condo. Because you rent out the vacant rooms for income. The rate of depreciation will be more moderate if says 320K for 30 years old 4 room flat.

 

A friend of mine bought a 4 rooms flat 4 years ago for SGD320K. He was so lucky that he got his loan approved before he was retrenched. He felt so blessed with income from room rental to support his lost in job income. Looking back after 4 years, he told me that he was so appreciative of this flat to help him to commence his path of early retirement and he no longer need to seek perm job. Instead he is working part-time as and when he wants and always travel frequently without worrying of annual leaves not enough.  

We should not forget owning a HDB flat is the privilege of Singaporean and also SPR. 1 bedded condo is for whoever can afford it.

 

 

 

 

 

 

 

 

 

[earth_tone]

-

Edited September 12, 2021 by earth_tone

[Guest Not True Blue]

20 minutes ago, earth_tone said:

Balloting for BTO is a huge pain in the ass. Even for 2-room... A friend said it is like lottery. I agree.

Not as bad as lottery.  Now BTO almost everywhere.  So the chance is higher as it spread out the number of applicants.  Those who got it in previous BTO, will not be applying again. The demand will die down, giving you greater opportunity. Unless...PAP kept giving out new citizenship like toilet roll, than your chance is slim with all these new comers into the market.

[single42]

just called HDB Hotline, the next BTO exercise launch will be on 02 Sept 2020 from 1000hr onwards. For sale of balance 2 rooms flexi flats will be in Nov 2020

[LeanMature]

23 minutes ago, single42 said:

just called HDB Hotline, the next BTO exercise launch will be on 02 Sept 2020 from 1000hr onwards. For sale of balance 2 rooms flexi flats will be in Nov 2020

 

I think many are waiting for the sale of balance flats.  Shorter waiting time.

[Guest guest]

On 8/28/2020 at 10:16 PM, Guest Superficial Value said:

What investment.  At the price of $800K, that condo is probably 99 year lease and will depreciate in value like HDB.  So superficial.

You don't hold on to your condo until near the 99 year lease. Sell when the market is good.

[Guest guest]

On 8/28/2020 at 10:39 PM, FIRE2020 said:

 

I agree that paying high price for HDB is not too wise. Buying cheaper HDB flat options might be a good investment for retirement planning. Buying 3 room or 4 room resales flat would be better than 1 bedder condo. Because you rent out the vacant rooms for income. The rate of depreciation will be more moderate if says 320K for 30 years old 4 room flat.

 

A friend of mine bought a 4 rooms flat 4 years ago for SGD320K. He was so lucky that he got his loan approved before he was retrenched. He felt so blessed with income from room rental to support his lost in job income. Looking back after 4 years, he told me that he was so appreciative of this flat to help him to commence his path of early retirement and he no longer need to seek perm job. Instead he is working part-time as and when he wants and always travel frequently without worrying of annual leaves not enough.  

We should not forget owning a HDB flat is the privilege of Singaporean and also SPR. 1 bedded condo is for whoever can afford it.

 

 

Your friend is lucky to able to buy a 4 room at $320k, consider cheap for a 4 room flat. I hope the location would not be too ulu or the flat is too old? HDB is only good if the price is not too expensive like what you see in the market now, where HDB can sell for $1 million!

[LeanMature]

1 hour ago, Guest guest said:

You don't hold on to your condo until near the 99 year lease. Sell when the market is good.

 

If the location is good, the condo can go En-bloc after 30 years or so (provided it passed the 80% mark).  Depending on the bidding price by the developers, each unit can get a very tidy sum, usually double or tripled your original value.  While HDB flats depreciated in value after 60 years, condos value appreciated because land price in Singapore never goes down.

Edited September 1, 2020 by LeanMature

[FIRE2020]

4 hours ago, Guest guest said:

Your friend is lucky to able to buy a 4 room at $320k, consider cheap for a 4 room flat. I hope the location would not be too ulu or the flat is too old? HDB is only good if the price is not too expensive like what you see in the market now, where HDB can sell for $1 million!

Jurong west can find. I checked recently there is unit selling around 310k. bigger than BTO 4 rm flat these days. built in 1980s. 5 rooms hdb flat only cost around S$380K. Is JW ulu or not? I find it a bit far but still not too bad if commute via train. i

 

imagine if you rent out two rooms at S$700 each. 1400 x 12 month x 20 years = S$336K. HDB lease decay etc is not too much of concerns by then. HDB is a property for stay and not for investment. Room return can helps to recover your initial investment. 

[Guest Those stories]

36 minutes ago, FIRE2020 said:

HDB lease decay etc is not too much of concerns by then. HDB is a property for stay and not for investment. Room return can helps to recover your initial investment. 

Lease decay are largely not a major concern for those who bought their house in the 70, 80s and late 1990s.  Those time, the price of HDB is about half price, of the current lowest HDB market rate. People who bought their HDB in the 2000s have overpaid themselves, especially the singles who have to buy from resale market.

 

Aiya!!! if you rich, then OK want.  You can afford condo, buy lor?  No one is stopping you.  If you got no money then buy a 2-room BTO also can.  Suit yourself, be yourself and know your limit.  No one should judge one another.  My mom used to say,  got shelter better than no shelter at all.  Those were folks who lived in old days where their kampong always leaked, and they have to find place to rent inorder to get married and have children.  Not only that, sometime, the landlord suddently upped the rent and forced them to move out and find a cheap warehouse or factory room to temporary stay there.  You know, in the past, big family.  One HDB cannot accomodate so many members.  Those who get married, have to find their own lodging.  Those were my mom's day.

 

Now she asked all her children not to be choosy.  Got place that is yours is better than no place be it one room or 1000 room HDB.  Her children all remember those golden words until today.  So don't anyhow sell your flat or anyhow buy flat that is over-the-top and paid thru your nose.  Tio Bo?

 

 

[zipper]

Just wondering, how are these 2-Room Flexi HDB BTO Flats performing in the resale market? are there even demand?

[Guest Ding Dong]

Just now, zipper said:

Just wondering, how are these 2-Room Flexi HDB BTO Flats performing in the resale market? are there even demand?

Already see some put up for sale at rediculous price of beyond $300K. 

[Guest Ding Dong]

I think one at Tampines selling $500K in Youtube video  and received several attack comments about the agent having eyes pasted with plaster...hahaha...

[Guest easy life]

Intending to buy a 2 room flexi and pay if all off with cash and CPF without incurring a debt. Once I got my flat and bought what I need, I'm going to quit my job and take on an easier job, like working at the laundrette.

[Guest The Quiet Place...Ssshhh!!]

7 hours ago, Guest easy life said:

Intending to buy a 2 room flexi and pay if all off with cash and CPF without incurring a debt. Once I got my flat and bought what I need, I'm going to quit my job and take on an easier job, like working at the laundrette.

Sounds very zen, very HYGGE, very independent and most importantly, very closetted in a good way.  No need to think too much about "investment", "renting"..blabalabla.... and no need to worry about Market sentiment nor tenants  that came from hell to ruin your peace and quiet time.   Do up your house nicely,  stay inside peacefully and shut the world around you. Then joy will come naturally into your twilight years.  Let other people deal with the world themselves.

[lonelyglobe]

On 9/2/2020 at 10:11 PM, zipper said:

Just wondering, how are these 2-Room Flexi HDB BTO Flats performing in the resale market? are there even demand?

I believe most of them have got it below 200k from HDB and if the unit is well renovated, I would say a reasonable price would be not more than 250k for a resale 2 room.  Otherwise it makes no sense, might as well get a 3 room for 300k. But then there is a lot of crazy rich ones who can even pay 1 million for a HDB,  so well,  is about demand and supply.

Edited September 4, 2020 by lonelyglobe

[Guest Cunt]

11 minutes ago, lonelyglobe said:

I believe most of them have got it below 200k from HDB and if the unit is well renovated, I would say a reasonable price would be not more than 250k for a resale 2 room.  Otherwise it makes no sense, might as well get a 3 room for 300k. But then there is a lot of crazy rich ones who can even pay 1 million for a HDB,  so well,  is about demand and supply.

Yes, that is about the price in resale market.  Don't forget that most of these 2-room BTO are in non matured estate because Single cannot buy 2-room BTO in matured estate directly from HDB.  Cunt policy.