Discussion About Single & Hdb Flat Ownership + Hdb Loan (Compiled)

[worldangel]

Would forum members and guests like to comment on the latest HDB rules regarding flat ownership for those single and above 35years old? Could this flat ownership by male couple and not relatives? Anyone knows and advice us. Thanks

[Buaya]

I am not old enough but yes, there can be joint ownership between 2 single men with no relations with each other.

[HendryTan]

The criterias as taken from HDB web site. The scheme does NOT mention any requirement for need of joint applicants at all.

(The above summary line edited since earlier posting for correctness)

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http://www.hdb.gov.sg/fi10/fi10201p.nsf/WP...C)?OpenDocument

Eligibility Scheme - Single Singapore Citizen Scheme (SSC)

The Single Singapore Citizen Scheme allows a single citizen to buy an HDB flat from the open market. If you wish to buy a resale flat under the Single Singapore Citizen Scheme, you must meet the following eligibility conditions:

Citizenship

You must be a Singapore Citizen.

Age

You must be at least 35 if you are unmarried or divorced.

If you are widowed, you must be at least 21.

If you are an orphan who does not have other siblings below 35 buying a separate flat under the Orphans Scheme, Joint Singles Scheme or SSC Scheme, you must be at least 21.

Marital Status

You must be unmarried, divorced or widowed.

Income Ceiling

There is no income ceiling (unless applying for CPF Housing Grant).

Ownership of Private Residential Property

You can own private property but must live in the HDB resale flat (unless applying for CPF Housing Grant).

Ethnic Integration Policy

You can buy an HDB resale flat in any town/estate as long as the approved proportion of your ethnic group has not been reached.

To check, click Ethnic Group Eligibility or call HomeLink at 1800-8663060.

CPF Housing Grant for Singles

You may apply for the CPF Housing Grant for Singles if you are at least 35 and meet all the eligibility conditions under the CPF Housing Grant Scheme for Singles.

-------------------------

http://www.hdb.gov.sg/fi10/fi10201p.nsf/WP...2%2C3#_Section2

CPF Housing Grant - Singles Grant

You may apply for CPF Housing Grant for Singles if you meet the eligibility conditions.

Citizenship

You are a Singapore Citizen (SC).

Age

You should be at least 35.

You should be at least 21 if you are buying a resale flat under the Non-Citizen Spouse (NCS) Scheme and your spouse is holding a social visit pass (including work permit) of at least six months’ validity.

Marital Status

You should be a single person who is unmarried, widowed or divorced.

If you are married and your spouse is a Non-Citizen spouse, you may apply for the Singles Grant. You will have to meet all requirements under the eligibility scheme you applied for.

Income Ceiling

If you are buying a flat under the Single Singapore Citizen (SSC) Scheme, your gross monthly household income must not exceed $3,000.

If you are buying a flat under other eligibility schemes, your gross monthly household income must not exceed $8,000.

Flat Type

If you are buying a flat under the SSC Scheme, you can buy either a 2-room, 3-room, 4-room or 5-room flat in the open market only.

If you are buying a flat under other eligibility schemes, you can buy any flat type except for 1-room.

Household Status

You and the other essential family members listed in the application for purchase of the flat:

( A ) are currently not owners of a flat bought direct from HDB or a resale flat bought with the CPF housing grant.

( B ) have never sold a flat bought direct from HDB or a resale flat bought with the CPF housing grant.

( C ) have not enjoyed other forms of housing subsidy (for example, bought an Executive Condominium from developer, enjoyed benefits under the Selective En bloc Redevelopment Scheme, privatisation of HUDC estate etc).

Ownership of Private Residential Property

You and the other persons listed in the application are not owners of any private residential property (including HUDC flat and/or Executive Condominium), house, building or land or have disposed of such a property within 30 months before the application.

Undischarged Bankrupt

Recipients of the housing grant are not undischarged bankrupts.

Resale Flats Affected by SERS

The resale flat that you are buying has not been announced for Selective En bloc Redevelopment Scheme (SERS).

If you intend to apply for the CPF housing grant for Singles, you may want to take note of the following conditions:

Having Enjoyed Housing Subsidy

You are considered as having enjoyed a subsidy for the purchase of an HDB flat.

Minimum Occupation Period

You have to occupy the flat bought with the Singles Grant for 5 years before you can sell it in the open market or invest in private residential property. You can submit an application to buy another flat direct from HDB after 5 years from the date you bought the flat with the grant.

Resale Levy

You are liable to pay a resale levy when you later sell the flat bought with the CPF housing grant for Singles in the open market and buy another flat from HDB or an Executive Condominium (EC) from the developers (or take over ownership of a subsidised HDB flat or an EC within 5 years from TOP).

You have to pay half of the resale levy payable based on the flat type you sold. If you bought the flat under the Joint Singles (JSS) Scheme with the Singles Grant with another single, you have to pay half of the resale levy payable.

You can opt to pay the resale levy immediately at the point of resale or defer the payment until you buy another flat from HDB. If you opt to defer the payment, an interest at the prevailing rate of 5% per annum will be charged.

If you do not intend to buy a second subsidized flat from HDB, for example, if you are buying a resale flat or a private residential property after selling the flat bought with the CPF housing grant, you need not pay the resale levy.

The prevailing rates are given below:

Flat-type

Graded Resale Levy

(Based on Declared Resale Price, or 90% of Market Valuation, whichever is higher.)

2-room

10%*/15%

3-room

20%

4-room

22.5%

5-room & Executive

25%

*Applicable for 2-room flat owners who upgrade to a bigger flat

Mortgage financing will not be extended for the payment of the deferred levy.

Refund of CPF Money

On resale/disposal of the flat bought with the Singles Grant, all CPF money used by you (including the housing grant) will be returned to your CPF account according to the rules and regulations of the CPF Board

Interest in Private Property

You cannot invest in private property during the 5-year occupation period.

Amount of Grant

Singles Grant

Joint Singles Grant

$11,000

$22,000

The grant once disbursed is irrevocable.

CPF Housing Top-Up Grant Scheme

A Singles Grant recipient can apply for a top-up of the Singles Grant to the prevailing Family Grant if he meets the eligibility conditions under the CPF Housing Top-Up Grant Scheme.

[worldangel]

Thank you Moderator. It's indeed very informative rather than I search the HDB web.

[Cool]

Actually so long as you are above 35 years old, you can buy alone, no need to combine with someone right?

Only if you are below 35 years old, then you need to jointly own with someone before you can purchase.

Anyway, someone wrote to the forum to ask them to revise the singles scheme since it does not help to improve the birth rate.

[Cool]

Read this!

http://www.straitstimes.com/forum/story/0,...9090340,00.html?

FIVE-ROOM FLATS FOR RENTAL

Why not sell new flats to singles instead?

I REFER to the report, 'HDB puts up five-room and executive flats for rent' (ST, Feb 1).

I do not understand the rationale for the Housing Board to rent out five-room flats in a premium location like Bukit Merah to the public, including foreigners who are employment-pass holders and students.

Is it not possible for HDB to sell these 'unsold flats' to singles?

It is time for HDB to relook its housing policy. The board's favourite mantra - its 'pro-family' policy - is no longer relevant.

Statistics have shown that both marriages and birth rates are not increasing despite all the incentives that the Government has provided.

Hence, the HDB should no longer deny singles the chance to buy a new flat directly from it.

Neither should the HDB cite the economic recession as a reason for the current 9,000 surplus flats. I remember that during the two earlier recessions that we had, there was no lack of demand for HDB flats.

Prime Minister Lee Hsien Loong has repeatedly said that all citizens will be given equal opportunities. Unfortunately, this assurance does not seem to apply to singles looking to buy a new flat from HDB.

I hope the Government will address the housing issue involving singles in the coming parliamentary debate on the Budget.

There are many singles like myself who have waited for more than 15 years to buy a new flat from the HDB. How much longer do singles have to wait?

If it is not possible to address the issue during the upcoming parliamentary session, I hope the ruling party will state its stand on housing for singles in its manifesto for the general election as it concerns more than 100,000 singles who are eligible to vote.

Chew Chee Meng

[Cool]

Reply from HDB.

I REFER to the letter, 'Why not sell new flats to singles instead?' by Mr Chew Chee Meng (ST, Feb 4).

The HDB sells subsidised new flats to eligible family-based citizen households as they have more pressing housing needs. This is in line with the pro-family objective of our public housing policy.

At the same time, the Government recognises the contributions of singles to our nation and the need to give them a stake in Singapore's success. Citizen singles have various options to meet their housing needs.

For example, they can buy a new flat with their parents as a family nucleus to stay together for mutual care and support. Those who are at least 35 years old and have not previously enjoyed any housing subsidy can apply for an $11,000 CPF housing grant when they buy a resale flat. They also enjoy an HDB concessionary loan if they meet the eligibility criteria.

The HDB has also allowed citizen singles to buy new HDB flats. Last year, the HDB sold 100 units of five-room and executive flats from its unsold stock as resale flats at market price, on a pilot basis. Of these, 20 units were bought by singles. First-timers who were eligible for the CPF housing grant for singles could use the grant to defray the flat price.

As for the small number of five-room and executive flats the HDB plans to let out through managing agents at market rent, we would like to clarify that they are units that have remained unsold despite repeated offers. Rather than leave them vacant, letting them through managing agents will allow the HDB to put them to better use on a temporary basis.

We would like to assure readers that the HDB reviews its housing policies regularly to ensure they stay relevant to the changing environment and needs of different groups of flat buyers.

Kee Lay Cheng (Ms)

Deputy Director (Marketing & Projects)

For Director (Estate Administration & Property)

Housing & Development Board

[enjoylife77]

All members and guests are very generous in their contribution but I think its best to engaged a experienced CEHA-certified agent to advice on the current rules, the financial and qualifying aspect of both buyer and seller. Buyer need to account for conveyancing, legal fees, HPS insurance,... which amounts to about $9,000(payable by CPF)

Budget for simple renovation and essential electrical applicances is:

3 room about $18,000

4 room about $24,000

5 room about $31,000

[Guest guests]

will the new generation have the money to purchase resale flats? nowsday flats are so expensive ,and every thing rising.

[Guest GetAttached]

Look for a bf with a flat

[Guest GUESTs]

Look for a bf with a flat

than break off . kanna kick out how? the flat still not mine at the end?u think is secure ?rather depend on my own flat.

[Guest KIASU ONE]

will the new generation have the money to purchase resale flats? nowsday flats are so expensive ,and every thing rising.

Buy somewhere outside town lor, like Jurong west, Marsiling, Sengkang..the asking price is still quite reasonable. Buying flat is one thing but there are greater considerations too:

1. Will your new home neighbour be considerate

2. Is the new home under AH LONG blacklisted unit

3. Got people die there before or not.

4. Is the unit clean/move in condition (if you do not intend to do huge renovations)

5. Is transport convenient to your workplace since you need to commute daily.

6. Is the unit number auspicious and not Blk 444, Unit 04-444, St 14 (just example)

7. Can you easily find food there if you don't intend to cook and is the clinic nearby if you fall sick.

....just to name a few considerations for buying flat and not just to save money.

[Panda_9791]

If a single person is working a reasonably-paid job, by 35, i think it shouldn't be a problem to get a flat. Moreover now the property prices are sliding down slowly, the only concern is the cash-over-valuation portion that one needs to worry. This time last yr, if one don't have $40-50k cash on hand, don't have to think about getting a resale flat... now, $30k u can get a pretty decent one

[mparade]

I am in the property line and would certainly encourage you to do so as a roof over your head is very important.

I was in a property roadshow and meet this guy who is 52 years of age. He was not very educated and he still has his mum to take care of. He showed me his CPF account which has less than $2K and he was looking for a flat to buy quite desperately. It was certainly a very pitiful situation.

There is never a good or bad time to buy a property. More importantly, is get one that you really like. Buy it with your heart and not with your head....

You could start small and it will eventually grow (that means when you are doing better, consider upgrading). For private properties, start with a studio.... For HDB, start with a 3 room flat....

[Guest guests]

thought get attached mention above say get a bf with a flat will solve the problem. sigh... wrong info.hehe

[Guest Guest]

u fogot to say not to be near rubbish center or mutli purpose open hall near HDB void deck where ppl do praying or rite for the dead.

how about staying on 50 storey high? scare of earth quake. just additional few more to consider buying a flat .

[Guest Kiasu One]

u fogot to say not to be near rubbish center or mutli purpose open hall near HDB void deck where ppl do praying or rite for the dead.

how about staying on 50 storey high? scare of earth quake. just additional few more to consider buying a flat .

1. 5th floor and above should be reasonable as long as you are at tree top level. Never stay on 2nd floor.

2. Never stay near to the main road because it is dusty and noisy whenever there is a traffic.

3. Against the norm, never get a flat that is totally unblocked, this are the flat prone to break-in by thief esp if you are staying alone.

4. Try to have flat with other block looking at your corridor (from a certain distant and not too near either) so that

whatever happened you know there is a free "police watch" for you at the corridor area.

5. Avoid staying next to temple, school or hospice/hospital. For gay, I think staying next to police station with free flow

of men-in-blue nearby will be an asset. Nearer Gurhka camp is even a gem to some of you out there...haha.

6. The above are external factors, for internal factor find a bedroom with toilet attached. It is very useful to have toilet near your

bedroom when you are sick and need to use it regularly.

7. Two toilets are better than one (for pai sai one).

8. Create internal ambience to suite your personality and don't move in untouched on conditions left by previous owner. Kind of eerie

and less refreshing.

9. As a general guide for the budget conscious: A must do item:

a. Change the toilet tiles and water closets (which are the sickest place of old home)

b. Knock down all build in cabinets/wardrobe to let hidden Qi flow away from your house. There might be spirit behind those used

stuff and get trapped inside/behind the fittings accumulated for years from previous owner's problems.

c. Replace with simple furnitures in place of those knocked down fittings.

d. Never reuse the previous owner aircons, do a thorough cleaning or get a new one.

Afterall, you have already paid your life for the flat, so never let your internal environment lose out.

........

[taxme7]

I am also considering buying a flat. But some sellers really pissed me off. The cash over valuation is ridiculously high.

Most probably I will wait till the property market goes down further then buy a 4 rm HDB.

[melroz]

will the new generation have the money to purchase resale flats? nowsday flats are so expensive ,and every thing rising.

When I turned 30, I used to think the same way - my dad had bought his 4-room flat many years back for a mere $14K and was at the time selling for $150K. My sibling was buying a re-sale 3-roomer for $120K, and I thought to myself how am i ever gonna afford to buy on the resale market when i turned 35???

5 years later when I turned 35 and decided to take the plunge I bought a 3 room corner unit for $170K, and I resigned myself to the fact that I would be paying for that flat for the next 20 years and never be able to move. But now, 7 years on, my flat is valued at $230K and there are offers of between $10K-$20K above valuation coming in from other singles who just turned 35.

So it goes to show that somehow or other, if you're gainfully employed and genuinely want to buy a home, it will always be possible. Just set your mind to it, take the plunge and eventually you may even profit from it. If not, console yourself in the fact that you still have a roof over your head.

Edited June 27, 2008 by melroz

[Guest guests]

I am in the property line and would certainly encourage you to do so as a roof over your head is very important.

I was in a property roadshow and meet this guy who is 52 years of age. He was not very educated and he still has his mum to take care of. He showed me his CPF account which has less than $2K and he was looking for a flat to buy quite desperately. It was certainly a very pitiful situation.

There is never a good or bad time to buy a property. More importantly, is get one that you really like. Buy it with your heart and not with your head....

You could start small and it will eventually grow (that means when you are doing better, consider upgrading). For private properties, start with a studio.... For HDB, start with a 3 room flat....

i got a friend who is 37 but cpf only have 50k .and another 46 cpf only 3 k both doing odd job . wonder how to buy

[Guest Kiasu One]

When I turned 30, I used to think the same way - my dad had bought his 4-room flat many years back for a mere $14K and was at the time selling for $150K. My sibling was buying a re-sale 3-roomer for $120K, and I thought to myself how am i ever gonna afford to buy on the resale market when i turned 35???

5 years later when I turned 35 and decided to take the plunge I bought a 3 room corner unit for $170K, and I resigned myself to the fact that I would be paying for that flat for the next 20 years and never be able to move. But now, 7 years on, my flat is valued at $230K and there are offers of between $10K-$20K above valuation coming in from other singles who just turned 35.

So it goes to show that somehow or other, if you're gainfully employed and genuinely want to buy a home, it will always be possible. Just set your mind to it, take the plunge and eventually you may even profit from it. If not, console yourself in the fact that you still have a roof over your head.

You call that profit? Lets said you bought at SGD170K (excluding housing loan interest), and now you sell at SGD250K. HDB will deduct SGD170K for the repayment plus interst of dunno how many thousands on Housing Loan interest and also deduct CPF interest you would have earned if the CPF money is untouched (instead of used up for Housing loan) and than deduct the grant they have given you, you will be left with $40K? without a roof. When you next look for another flat of similar size, the seller would want SGD35K above valuation and you will be left with SGD5K buying a similar flat?

[melroz]

You call that profit? Lets said you bought at SGD170K (excluding housing loan interest), and now you sell at SGD250K. HDB will deduct SGD170K for the repayment plus interst of dunno how many thousands on Housing Loan interest and also deduct CPF interest you would have earned if the CPF money is untouched (instead of used up for Housing loan) and than deduct the grant they have given you, you will be left with $40K? without a roof. When you next look for another flat of similar size, the seller would want SGD35K above valuation and you will be left with SGD5K buying a similar flat?

It's all a matter of planning...

If i choose to sell the house now, i still have additional CPF which I have accumulated over and above my monthly installments, plus the money i put aside from renting a room in my flat for the last 7 years. I took a valuation just to see what the flat would be able to fetch in the current market but I have no immediate plans to sell. If I do decide to sell there's always the option of downgrading to a corridor unit in a less expensive neighbourhood and still have a roof over my head.

I've also paid for the initial deposit on a 2nd landed property in North East Thailand which is way, way more affordable than owning a second apartment in Singapore and with a monthly cash installment lower than my HDB flat. While I don't own the land as a foreigner there (it's a 90 year lease for the land), I still own the property built there. Think about it - even with a HDB flat, it's a 99-year lease, and I don't own the land.

Next step is a possible move to Thailand or Jakarta or Laos for work, where i still get a salary plus accomodation paid for by the company. Which means i get to put aside even more savings while owning 2 homes!

So my point in response to the initial post is that you'd have to plan ahead...as property prices increase, so too does our potential for higher earnings. Ultimately if we work towards what we desire, we can achieve. Unless of course we get stuck in a vicious cycle of negativity which will lead us nowhere.

Edited June 27, 2008 by melroz

[Guest Be realistic]

i got a friend who is 37 but cpf only have 50k .and another 46 cpf only 3 k both doing odd job . wonder how to buy

Honestly if they are doing odd jobs, it is better for them to continue to stay with their parents lor. No money stillwant to own flat? Like beggars want to eat abalone.

[Dioscuri]

Honestly if they are doing odd jobs, it is better for them to continue to stay with their parents lor. No money stillwant to own flat? Like beggars want to eat abalone.

Aiya bro, don't be like that lah, everyone is entitled to his/her dream. I understand your point of being realistic, but beggars also have their wishes, hoping that one day they can have a good meal, their children can be better off, they don't have to be dirty and smelly, don't have to lower their dignity to ask for sympathy........I am sure you have some hopes or dreams to be better (in whatever aspect) right? They do too.

I hope poor people can also have their own flat, beggars can also eat abalone one day, and you can have your dreams fulfilled too. Now I only have it as a wish, I hope one day I can have some biz to help them out.

Have you heard of Nobel Peace Prize Winner Prof Yunus and his application of Microcredit?

Prof Yunus founded the Grameen Bank (Bank for the poor). This bank has been instrumental by offering small loans (microcredits) to millions of poor Bangladeshis, many of them women, without any financial security, in improving their standard of living by starting businesses with the tiny borrowed sums. His first loan, consisting of USD 27.00 from his own pocket, was made to 42 women in the village, who made a net profit of BDT 0.50 (USD 0.02) each on the loan.

[Guest Guest]

buy a flat, rent out while u continue to leech at ur bf apartment.

[enjoylife77]

Many of the PLU that I know have the notion of owning his own property as a passing thought. I know of a particular 50+yo who still bunk with his parent spend most of his time cruising at Golden Mile Complex, Peninsula Plaza, Joo Seng Road and Mustafa etc etc. And when there was a conversation regarding this topic, he will tactically tell all around him that he is considering buying a condo in Bangkok; which he has been talking for decades.

[Guest Guest]

Many of the PLU that I know have the notion of owning his own property as a passing thought. I know of a particular 50+yo who still bunk with his parent spend most of his time cruising at Golden Mile Complex, Peninsula Plaza, Joo Seng Road and Mustafa etc etc. And when there was a conversation regarding this topic, he will tactically tell all around him that he is considering buying a condo in Bangkok; which he has been talking for decades.

these ppl are pathetic. their life revolves around cruising watever free time they have. life is simply, eat, sleep, shit and sex. LOL.

i noe these ppl exist and their brain eventually die out and become stupid .. like my fren for example.

[Guest Guest]

these ppl are pathetic. their life revolves around cruising watever free time they have. life is simply, eat, sleep, shit and sex. LOL.

i noe these ppl exist and their brain eventually die out and become stupid .. like my fren for example.

i also have 1 kind of friend , when come to topic of buying HDB flat he would change subject, saying he dun need stress or to own any property. a person born to this world empty and will leave this world empty too. if u say come to old age how? he would say go to old age home or seek church home . when u offended or stress him with all this problem. he will set his own law . DUN talk for a year. thats the penalty he give. a wierd person

[Guest Old Liao]

Never force on a person who cannot afford to buy flat. I have a friend who envied others for owning a flat and now tied down by 30 years loan repayment and his career is not very stable too and now he is already 41 years old and have to work unitl 70 to fully repay his loan. Can he still even find work at 50yo is still questionable. I rather he keep his CPF and earn higher interest without stress of worrying about tomorrow.

[Guest Guest]

Never force on a person who cannot afford to buy flat. I have a friend who envied others for owning a flat and now tied down by 30 years loan repayment and his career is not very stable too and now he is already 41 years old and have to work unitl 70 to fully repay his loan. Can he still even find work at 50yo is still questionable. I rather he keep his CPF and earn higher interest without stress of worrying about tomorrow.

come to square one wat? a room a person rent is $500 a month. everyday worrying where to get $500 for his rent. now 41 still got ppl employ, wat if he turn 50 yr old where to find $500 is a big problem.

[Guest old Liao]

come to square one wat? a room a person rent is $500 a month. everyday worrying where to get $500 for his rent. now 41 still got ppl employ, wat if he turn 50 yr old where to find $500 is a big problem.

Dunno how you guys think. Having a home is for privacy purposes and having a warm roof over the head. I will never think of making money out of it. Personal space is the reason for me buying a flat and nothing more. Otherwise, it is just an empty property and not a home. There will be no sense of beloning to it.

[Guest talking]

Dunno how you guys think. Having a home is for privacy purposes and having a warm roof over the head. I will never think of making money out of it. Personal space is the reason for me buying a flat and nothing more. Otherwise, it is just an empty property and not a home. There will be no sense of beloning to it.

i think u got it wrong - his previous post was trying to say that even if ur 41yo frd dun buy house, the person needs a place to stay also need to pay rental of $500 (not make money), thus eventually still need to worry since his career is not stable, maybe at 50yo, not employed then pay rental also got problem...

[homelyman]

When buying house, buy within your means. For single, 3 room HDB flat is big enough to stay. No point buying bigger flat, u can save the additional money for investment. For those who cannot afford 3 room HDB flat, u can always look out for 1 or 2 room HDB flats, it's rare but still can find and u cannot be choosy.

[enjoylife77]

The Cash Over Valuation(COV) for a rare 2-room HDB can be as high as $50-60,000. This may be a big deterent for some.

[Guest GUest]

Dunno how you guys think. Having a home is for privacy purposes and having a warm roof over the head. I will never think of making money out of it. Personal space is the reason for me buying a flat and nothing more. Otherwise, it is just an empty property and not a home. There will be no sense of beloning to it.

even u have yr own flat and u stay alone in a white elephant place, u dun feel lonely meh? and when a gay is alone and fall sick who can be there to help out? i think yr sentence r refering to straight who wants to form a family and have some of thier own family space.

[abang]

even u have yr own flat and u stay alone in a white elephant place, u dun feel lonely meh? and when a gay is alone and fall sick who can be there to help out? i think yr sentence r refering to straight who wants to form a family and have some of thier own family space.

I bought over a 3-bedroom HDB flat from my mother with all my CPF. Well, there is still a hundred thousand dollars left there... OK I know it is not much and definitely not enough for retirement.

However having a flat this size is good cos now I am collecting rent on the other 2 bedrooms. Of course, the tenants may move but there is always new ones. So instead of worrying whether I can still be employable in the future, I can be rest assured that my rentals can help me as long as I continue to live frugally.

The only bills I have to pay are the utility, wireless Internet (sorry no more SCV cos we get the Internet!) and conservancy charges. This is a big relief as I no longer have to worry about money.

If I can only offer an advice to other gay men - grab a 4-room ie. 3 bedroom HDB flat nearer to the MRT station as soon as you reach 35 (those who can afford private housing, good and well). When we get older and become unemployable, we still have this roof above us.

[Guest Old Liao]

even u have yr own flat and u stay alone in a white elephant place, u dun feel lonely meh? and when a gay is alone and fall sick who can be there to help out? i think yr sentence r refering to straight who wants to form a family and have some of thier own family space.

Loneliness is in the heart and mind. If you feel that way, even if you stay in crowded room that loneliness will still creep into your heart and mind unless you get married and have kids lor. A friend of mine who felt so uptight and lonely staying with his siblings eventually move out of his own. When he got to live alone in his 3-room flat he felt so freak out due to his wild imagination and later shift back to his parents place. After that his loneliness crept back in his parents house and he decided to rent one room and stay in another room in his newly bought 3-room flat. Dunno what he want eventually. Tak Boleh Tahang!!! Very unindependent person.

[abang]

Very unindependent person.

That is a new word... you meant to say he is a very insecure person who needs to depend on others often?

[Guest Old Liao]

Very unindependent person.

That is a new word... you meant to say he is a very insecure person who needs to depend on others often?

He is afraid of being alone after getting his 3 room flat and most of the time he cannot seems to be able to take care of himself and need someone to be there for him but when he stayed with his parents, he complained no freedom. So what kind of a person to describe him hor?

[Dioscuri]

He is afraid of being alone after getting his 3 room flat and most of the time he cannot seems to be able to take care of himself and need someone to be there for him but when he stayed with his parents, he complained no freedom. So what kind of a person to describe him hor?

Renting the room out is not a bad idea, he has company and at the same time some pocket money to spend. Hopefully the tenant is nice.

[doncoin]

Okay this probably will sound really dumb, but since I don't live in Singapore but I am hitting the age where I will soon be able to qualify to buy a flat on my own, should I go for it? To tell the truth, I don't really care how many rooms. I think 2 bedrooms is ok with me since I will not be living there anyway. At the end of the day it is not even so much for investment purpose, but more for portfolio/assets purpose.

Any advice?

[zonefree2000]

what if one cant afford to buy a small HDB flat under Singles Scheme?

will joint singles scheme work ?

[Guest Kiasu]

what if one cant afford to buy a small HDB flat under Singles Scheme?

will joint singles scheme work ?

Troublesome to joint with someone. Buy under single or don't buy lah, otherwise there will be future dispute if you share name. That is the purpose of single owned HDB without having someone to control or share your assets too.

[Cool]

It's certainly a wise choice to buy a place of your own, whether for investment or for having a roof over our heads.

Personally, I think the prices are too high now and I am waiting for the prices to go down before buying. Agents will always say that you can buy now. They can't possible ask you to wait until next year which means their income will be affected for 1 whole year. So, the choice is yours.

For those who have no choice but to buy now, choose something small and affordable and maybe slightly off town so that you don't have to pay a super high price for it.

I will wait for the price to go down.

[Guest thirty5]

Hi there, I am reaching 35 years old this year and would like to buy a HDB flat. I believe that some of you have already been through this, so I would like to seek some advice on how to go about getting a flat for myself.

I have read some of the info on the HDB website but still could not figure out certain things.

1) To be eligible for the grant, one's monthly gross income must not exceed $3K, I am not eligible for this grant. But what is this grant ($11K) anyway?

2) Then about housing loan, can I take the loan directly from HDB instead of banks?

3) Can I use my entire CPF to pay for the flat? Do I need to fork out cash for whatever purposes?

4) I know that I cannot apply for new flats, my only option is resale flats. How do I go about choosing one of these flats? Does HDB have some kind of "catalogs" for people to choose from and deal directly with HDB; or I have to locate and deal with the owners directly or through property agents?

5) Do you mind describing the steps you took to get your flat?

Hope some kind souls would share their knowledge here. Thanks in advance.

[hornieted]

Hi do u hv any housing agent friends cos there are alot of stuff u need to know about buying HDB flat besides the ones u ask here

Just email me and I will introduce my housing agent to u and u can hv a better insight on buying a flat

[Baloo]

Hi there, I am reaching 35 years old this year and would like to buy a HDB flat. I believe that some of you have already been through this, so I would like to seek some advice on how to go about getting a flat for myself.

I have read some of the info on the HDB website but still could not figure out certain things.

1) To be eligible for the grant, one's monthly gross income must not exceed $3K, I am not eligible for this grant. But what is this grant ($11K) anyway?

You do not qualify for the grant to offset the HDB posted price nor the resale price. But you can go ahead to buy at the 'full price' resale. Is there new rule that allow 35 year old to buy new? or must be TWO single 35 year olds? nice nice hahaha if they are making that rule...

2) Then about housing loan, can I take the loan directly from HDB instead of banks?

HDB no longer offer direct loans... u missed THAT boat. all banks now...

3) Can I use my entire CPF to pay for the flat? Do I need to fork out cash for whatever purposes?

Not sure about this... if HDB booking, you need to fork out some cash for booking fees, etc. few k last time i checked. If you buying open market, also need cash, up to 40k for some cases in hot areas... the balance can be entirely paid out via CPF provided you have a minumum sum left (that sum is published law... you cannot empty your cpf account...)

4) I know that I cannot apply for new flats, my only option is resale flats. How do I go about choosing one of these flats? Does HDB have some kind of "catalogs" for people to choose from and deal directly with HDB; or I have to locate and deal with the owners directly or through property agents?

Resale flats - look at newspaper. Daily update of catalog! and NO, in the open market you DO NOT DEAL with HDB directly... first point of contact will be the owner. via his agent or tru your agent. U can go it alone - if you are ready to face the surprises of forms, administrative hoops etc to jump tru to complete your deal properly. Can be extremely frustrating... but saves you that 1% commission lor... if that is such a big deal to you...

5) Do you mind describing the steps you took to get your flat?

Step 0 - make sure you are ready to buy - i.e. your bank account has at least $5k to $40k ready cash... u can't pass this one, forget the rest of the steps... with only $5k, unlikely you will be able to buy anything in open market today.

Step 1. Buy Newspaper!

Step 2. Determine which area you want to buy a flat from.

Step 3. Look at classified ad of newspaper and specifically at the area u interested to buy a flat.

Step 4. If open house, go visit and see. Chat with owner or agent organising the open house.

Step 5. If no open house, call the contact number (owner or agent representing owner) to arrange for viewing.

Step 6. If you like the offer, clarify the financial requirements cpf or other means of finance. This can also be done at step zero as homework... i.e. if cpf how to go about, if bank, how to go about... Usually a housing agent can explain in detail to some degree...

Step 7. plonk down your money to start the process.

Just to point out to you... buying a property is a LIABILITY... not an asset unless you can collect rent from it (in your case, paid in full, no interest/loan to service, but still got conservency, taxes, etc) to put in your pocket... HDB expressedly forbids renting for first few years...

Edited March 31, 2010 by Baloo

[Guest guest]

Hi there, I am reaching 35 years old this year and would like to buy a HDB flat. I believe that some of you have already been through this, so I would like to seek some advise.

please go to a professional agent and dont listen to baloo he himself is not sure. all answer u can get from there. or go to HDB Hub. there r some changes in HDB rules only HDB can answer u not baloo or those past buyers.

[cock brand]

Hi there, I am reaching 35 years old this year and would like to buy a HDB flat. I believe that some of you have already been through this, so I would like to seek some advice on how to go about getting a flat for myself.

I have read some of the info on the HDB website but still could not figure out certain things.

1) To be eligible for the grant, one's monthly gross income must not exceed $3K, I am not eligible for this grant. But what is this grant ($11K) anyway?

The $11K grant is meant for the lower income individual to help them to own a HDB flat.

2) Then about housing loan, can I take the loan directly from HDB instead of banks?

You should try to apply for the HDB Loan Eligibility(HLE) first to check whether you are eligible for HDB loan.

3) Can I use my entire CPF to pay for the flat? Do I need to fork out cash for whatever purposes?

Check your CPF statement online on how much you can use for housing from your ordinary account, you only need to top up the difference with loan or cash .

4) I know that I cannot apply for new flats, my only option is resale flats. How do I go about choosing one of these flats? Does HDB have some kind of "catalogs" for people to choose from and deal directly with HDB; or I have to locate and deal with the owners directly or through property agents?

Check the HDB website regularly for news of resale flats, instruction on how to apply are also included, provided you are in no hurry.

They also advertise this news in the newspaper.

5) Do you mind describing the steps you took to get your flat?

Satisfy all the requirements first then start to look around for your choice location/flat.

Most important, you need to know what kind of budget you have and work within it.

For resale flat, don't forget you need to spend some money on renovation.

Hope some kind souls would share their knowledge here. Thanks in advance.

[Guest thirty5]

Thanks to everyone for your prompt replies.