H.D.B.

[1983rophi]

Wanna get the ball rolling/discussion started:

 

Being Gay, 

 

Being 40yo & above, 

 

What's it like, buying a B.T.O. FROM HDB? 

 

i am thinking of buying 1/BTO.

 

I have the money, 

 

I can afford the housing loan, 

 

But i cannot live in the outer part of the City like Seng Kang... So what should i do? 

 

Thx 4 replying 😃

 

[1983rophi]

Last week, 

The Straits Times Forum, 

Guy, 

Above 40yo,his letter:

 

 

I ballot 10 times for B.T.O.

 

 

Hdb rejected me. 

 

😡

[Kimochi]

Save more money buy resale. Do up your checklist properly first.

Edited Sunday at 07:27 AM by Kimochi

[reece7700]

If buy resale, is the remaining lease period an important consideration? How many years is enough?

Edited Sunday at 11:13 AM by reece7700

[AP1987]

Buy resale, less waiting time. But lease is an issue. Buy a condo, sell when old and downgrade to a 2 flexi. 

[Kimochi]

2 hours ago, reece7700 said:

If buy resale, is the remaining lease period an important consideration? How many years is enough?

Up to you whether your predicted lifespan can outlive the period. Also , we still do not know what will happen when the period is up. Can only predict and prevent. 

[Bahamut LGH]

It depend on your need/want/convenient/affordability/comfortable level to own a new or resale.

 
New BTO, only 2 room flat. Need to wait 3-5 years for it to build up and key collection.
Pro: After MOP (5 or 10 years), high chance of making a profit return due to the high lease balance. Less piping, leaking, wall crack issue. Has a huge bomb shelter for storage use. Lesser renovation headache if opt in optional finishes. Cheaper price compare to resale market. Rubbish chute is outside.

bigger gate and door.

 

con: cannot rent out within MOP period, no room rental for passive income, only whole unit after MOP period. The space is very very shoe box. If minimalist, ok. If love shopping and store up, headache.

BTO also usuay on outskirts area, further away from town/CBD. Lesser grants available for first timer. Kitchen could be dark, yard doesn’t have proper drying rack, no sunlight if the yard ihaving bad facing.
Need to ballot, and it cost non refundable ballot fee and uncertainty of when you got the queue successfully.

Rubbish chute is outside.

 

Resale flat 

pro: different size of unit to cater your needs. Different layout also.

no need to wait for built up, move in within completion period about 4-8 months. Higher first timer grants. Better location, pinnacle Duxton also is resale.

better layout available, regular rectangle squarish in most design. More brighter as airy depend on the layout and facing. Rubbish chute is inside.

can immediately rent out room for passive income.

 

 

con: more competitive price, expensive to majority definition. Potential huge renovation cost require if need to revamp 100%. 
Lesser lease! Have to check with HDB how many year lease balance to utilise your CPF/loan etc when payment. May not appreciate much after purchase. When buy at wrong period, it might depreciate.

Rubbish chute is inside.

Smaller gate and door.

Might need to pay high price which involve COV (cash over valuation) if die die wanna secure the unit you like.

Edited Sunday at 02:54 PM by Bahamut LGH

[TEY2005]

Buy condo studio or 1-2 bedder. Problem solved.