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

[alien]

Yah lor Alien....I can only hope they open up the unsold BTO any size to single....I say again those unsold n not taken up hor,

 

I also think at this rate...get bto need to use tongkat...n tongkat ali too keke

Based on the backlog n the high demand for BTO flat, dun think there are many unsold flats left. I think hdb shld allow singles to buy 2 n 3 rm flat, so tht application for singles wld not all go into one 'basket'.

[Marineboy]

Based on the backlog n the high demand for BTO flat, dun think there are many unsold flats left. I think hdb shld allow singles to buy 2 n 3 rm flat, so tht application for singles wld not all go into one 'basket'.

 

I actually see that possibility coming too. They are using the singles to buy up the not popular 2roomers. Singles with 3rooms n getting married later even with a kid the place is big enough

[alien]

I actually see that possibility coming too. They are using the singles to buy up the not popular 2roomers. Singles with 3rooms n getting married later even with a kid the place is big enough

Maybe u r rite. Hdb cld first allow singles to buy 2 rm just to clear off their existing excess stock. Then later they allow singles to buy other type of flat as well, so tht the application will be balance. Now application for 2 rm flat over demand than wht hdb can offers n handle.

[Tachyons]

I am a bit confused over the singles scheme. Is there an income limit on eligibility?

[Guest]

I am a bit confused over the singles scheme. Is there an income limit on eligibility?

to buy a new hdb 2-room flat, your income should not be more than $5k

however to buy from the resale market, there is no income ceiling (unless you're applying for hdb loan &/or cpf housing grant whereby your income should not exceed $5k)

[Guest]

i recently went to take a look at a retired colleague's hdb studio apartment

decent size but the furnishing & fittings done by hdb were awful

[Guest]

Based on the backlog n the high demand for BTO flat, dun think there are many unsold flats left. I think hdb shld allow singles to buy 2 n 3 rm flat, so tht application for singles wld not all go into one 'basket'.

 

I actually see that possibility coming too. They are using the singles to buy up the not popular 2roomers. Singles with 3rooms n getting married later even with a kid the place is big enough

 

Maybe u r rite. Hdb cld first allow singles to buy 2 rm just to clear off their existing excess stock. Then later they allow singles to buy other type of flat as well, so tht the application will be balance. Now application for 2 rm flat over demand than wht hdb can offers n handle.

i think so too

[Tachyons]

to buy a new hdb 2-room flat, your income should not be more than $5k

however to buy from the resale market, there is no income ceiling (unless you're applying for hdb loan &/or cpf housing grant whereby your income should not exceed $5k)

Thanks. I was reading about it but I got confused as to whether it referred to the loan or the sales of the flat. 

[Marineboy]

i recently went to take a look at a retired colleague's hdb studio apartment

decent size but the furnishing & fittings done by hdb were awful

 

Would it be the 45sqm or the 35sqm? The 2 sizes for the 2 room bto.

[Guest]

Would it be the 45sqm or the 35sqm? The 2 sizes for the 2 room bto.

45sm... and one other point, the bedroom is rather small

[Marineboy]

45sm... and one other point, the bedroom is rather small

 

I thought so as I did try to see the space minus off from a 3room flat some time back.

Surely the 35sqm is pushing it. Those greedy basterds should not even try to make such flats.(shoebox sz) with pricey tags Tpui :smokin:

[alien]

45sm... and one other point, the bedroom is rather small

U mean the studio apartment? Actually the bedrm in 2 rm flat also not big.

[Guest]

U mean the studio apartment? Actually the bedrm in 2 rm flat also not big.

don't understand why is there a demand for hdb studio apartment?

it's similar to hdb 2-room flat but has a shorter lease of 30 years and also buyer (55 years old & above) will not enjoy cpf housing grant

though it comes with basic furniture & fittings (wardrobe, kitchen hob, cabinet & sink, etc), they look awful

Edited November 10, 2013 by jcho

[alien]

Actually those studio apartment is equip with safety features and emergency button, thts y it is popular with elderly. Cos if there is anything happen, u can call for help with a press of a button at hm. Unlike 2 rm flat, they do not comes with such thing.

Also 30 yrs lease shld be sufficent for elderly, imagine 55 yrs old plus 30 yrs, u can stay until 85 yrs old. But how many can live until 85 yrs old?

Edited November 10, 2013 by alien

[Guest]

that reminds me of this big red light (outside the flat just above the door) and it will light up when the emergency call button is activated

and that is also how one can identify a hdb studio apartment from other flat types

 

btw, i found a related news article:

 

Prices of studio and other flat types not comparable: Khaw

Studios reasonably priced and value is linked to their locations, he adds

 

By Daryl Chin

Published on Oct 22, 2013 8:02 AM

 

Comparing studio apartments to other flat types is akin to equating apples to lemons, said National Development Minister Khaw Boon Wan in Parliament yesterday.

 

This is because studios are tailored specifically for the elderly, and are kept affordable so buyers can monetise after right-sizing, he added.

 

He was responding to queries from Workers' Party chief Low Thia Khiang, who asked if studios were becoming too expensive as an option for the elderly.

 

The price range in July's Build-To-Order exercise for Bukit Merah studio units was between $113,000 and $163,000 each.

 

In 2003, studios sold for between $47,800 and $71,700.

 

The latest prices are higher than those for the Sengkang two- room units sold in the same July exercise; they went for between $76,000 and $124,000 each.

 

Mr Khaw said he read comments on social media comparing the studios and two-room units, but argued that studios were still reasonably priced. "They are comparing apples with lemons. Some studios were in very popular locations, versus two-room flats in non-mature estates. And of course there must be a price difference to reflect this," he said.

 

The studios come in two sizes - 35 sq m and 45 sq m. They are sold on 30-year leases, have elderly friendly features such as non- slip tiles, and most are located in mature towns.

 

Mr Khaw also assured the House that the authorities will inject greater flexibility in selling the studios.

 

Dr Intan Azura Mokhtar (Ang Mo Kio GRC) had called for more leeway to be given to those under 55 years of age - the minimum age requirement for studios, while Mr Hri Kumar Nair (Bishan-Toa Payoh GRC) asked for leniency for those who can qualify for one, but have their equity tied up in their current flat.

 

Mr Khaw noted that the Housing Board would generally look at each case based on its merits, and exercise flexibility under extenuating circumstances.

 

He also replied to Mr Gan Thiam Poh (Pasir Ris-Punggol GRC), saying about 300 couples - comprising a citizen with a foreign spouse - had bought two-room BTO units since such couples were first allowed to in July.

 

Meanwhile, Acting Minister for Manpower Tan Chuan-Jin revealed that the Central Provident Fund Board is working with the National Development Ministry to study more options to help buyers with pre-existing health conditions who are not covered by the Home Protection Scheme.

 

This mortgage-reducing insurance helps with repayments should disaster strike. Since 2011, about 1.3 per cent of all applications were rejected due to serious pre-existing medical conditions.

Source: Straits Times

[alien]

Think there is a big red light on the lift landing with a LED screen. Tis cld mean anyone from any unit press button for help, the unit number will flash on the screen.

[yoyo74]

Actually those studio apartment is equip with safety features and emergency button, thts y it is popular with elderly. Cos if there is anything happen, u can call for help with a press of a button at hm. Unlike 2 rm flat, they do not comes with such thing.

Also 30 yrs lease shld be sufficent for elderly, imagine 55 yrs old plus 30 yrs, u can stay until 85 yrs old. But how many can live until 85 yrs old?

What happen to those that live past 85 years old? My grandfather live past 90 years old and i think my family had long life genes lol. With advance medical technology and a healthy diet, living past 85 years old is also highly possible.

[Guest guest]

What happen to those that live past 85 years old? My grandfather live past 90 years old and i think my family had long life genes lol. With advance medical technology and a healthy diet, living past 85 years old is also highly possible.

The problem is those scholars in HDB just assume that very few people lives beyond 85 years old according to their statistics. No what ifs and solutions were prescribed.

So when the time comes when the lease expires and the poor chap is still living, they either evacuate and throw him out or as usual, make that poor fella pays an exorbitant "top up" fee to continue staying there.

[alien]

What happen to those that live past 85 years old? My grandfather live past 90 years old and i think my family had long life genes lol. With advance medical technology and a healthy diet, living past 85 years old is also highly possible.

I believe they will ask the person to pay more to extend the lease the flat.

[alien]

Realise tht u can check the appointment date given by hdb to select flat in tis bto if u r given a queue number. U can go to hdb website n go to 'my hdbpage' login using singpass. From there u roughly know how high ur chance is. If ur appointment date is 1-2 mths from now, doubt there will be any flat left.

[keyboard]

Do you guys know how to get a AIP (Approval-In-Principal)? Must walk-in to all the banks or they have online submission website or something. Information about this seems to be vague online or require some sort of disclosing your details without affirmation that the website will provide you the information or just to spam you.

[Marineboy]

Alien I was kinda waiting for you to get called....mine is a lot after you.

So I suppose I have 2 chances left.....very slim and none

Edited November 22, 2013 by Marineboy

[alien]

Alien I was kinda waiting for you to get called....mine is a lot after you.

So I suppose I have 2 chances left.....very slim and none

My appointment date is in jan lor, think by the time no more flats left. Even level 2 also dun have. I checked on the availablity of the flat status, looks like majority of the application is from singles. Cos noticed some flats already got selected, and it means tht the flats selection exercise has started. But the total flat got selected very little, i guess these shld comes from other group n not from singles. And i think when singles come in to select flats, the rate of flats become selected shld move very fast.

[alien]

Do you guys know how to get a AIP (Approval-In-Principal)? Must walk-in to all the banks or they have online submission website or something. Information about this seems to be vague online or require some sort of disclosing your details without affirmation that the website will provide you the information or just to spam you.

Maybe u shld go to any bank to enquire personally?!

[keyboard]

You guys are soon going to sign the option form and don't have the AIP? Means all just pay cash ah, no need to loan ah.

[alien]

You guys are soon going to sign the option form and don't have the AIP? Means all just pay cash ah, no need to loan ah.

U got a flat from bto or bought a resale flat?

[keyboard]

Just want to get AIP to see what kind of stuffs I can afford to buy from the market.

[Guest]

Do you guys know how to get a AIP (Approval-In-Principal)? Must walk-in to all the banks or they have online submission website or something. Information about this seems to be vague online or require some sort of disclosing your details without affirmation that the website will provide you the information or just to spam you.

 

Loan from HDB - Application For HDB Loan Eligibility

Loan from Bank - Speak to a Personal Financial Consultant to find out how much the Bank can lend you (minimum loan is $100K)

 

Basic information needed to structure the loan:

Age

Current Salary

CPF Lumpsum (do request for a copy of your latest CPF Statement)

Existing Loan Commitments (including Credit Cards)

[Undies69]

Can anyone here enlighten me what does the new CPF rules means for people after 55 years old need to pay CASH for their HDB loan installments ?

 

Dunno what the FUCK are they talking about ...

[Jefjef]

still possible to get a 3 room resale flat without cash ?

[Guest]

still possible to get a 3 room resale flat without cash ?

Am afraid not.

Minimum Cash Outlay = (Purchase Price - Valuation) + (5% of Valuation)

[Guest]

 

Can anyone here enlighten me what does the new CPF rules means for people after 55 years old need to pay CASH for their HDB loan installments ?

 

Dunno what the FUCK are they talking about ...

 

 

Repaying Your Loan After 55

If your housing loan is still outstanding, you can still use your CPF monies, excluding accrued interest and government grants, in excess of the Minimum Sum cash component in your Retirement Account to partially or fully redeem your loan, or to service the monthly instalments.

 

Simply put, if you do not have $148K (at present) in your Retirement Account (amount transferred from Ordinary & Special Accounts when one reaches 55), you cannot use CPF monies for loan repayment.

Edited November 23, 2013 by jcho

[Guest]

HDB BTO Sales Exercise

pathetic, it's either woodlands or bukit batok

anyway, application closes on 2 dec 2013

Edited November 26, 2013 by jcho

[Marineboy]

Looks like they managed to get rid of the unsold 2roomers....nothing left.

In order to clear backlog they may have no choice but to offer larger sz unsold flats to singles...I hope they do.

 

Have not looked into it in more detail but judging from your response..likely I would skip this round.

[alien]

HDB BTO Sales Exercise

pathetic, it's either woodlands or bukit batok

anyway, application closes on 2 dec 2013

Tot they will roll out even more 2 rm flats to cater to the large number of singles application? But quite disappointed tht tis round only have 2 location. There are abt 400 units of balance 2 rm flats but from mature estate. Wonder will there be takers? If tis time still no takers, maybe they will open up to singles? Haha.

The bto in woodlands only have 180 bigger area of 2 rm flat. And bt batok only offer 144 bigger area of 2 rm flat. Seems like tis round chances very slim again if apply.

[alien]

Looks like they managed to get rid of the unsold 2roomers....nothing left.

In order to clear backlog they may have no choice but to offer larger sz unsold flats to singles...I hope they do.

 

Have not looked into it in more detail but judging from your response..likely I would skip this round.

They managed to get rid those leftover 2 rm in non-mature estate lor. But there are still quite many leftover in mature estate.

After looking thru the woodlands n bt batok 2 rm bto, looks like bt batok slightly better than woodlands. In term of the total number of units per block. But floor level consider quite low for both, highest floor not exceed 16. I still like those 20 level or more.

[Marineboy]

Its the 2018 completion date that is a big turnoff.........

[Marineboy]

jcho

 

You mentioned your retired colleague bot SA the larger one..

Where is the location n roughly whats the cost?

Did you find it worth it? I believe is the same cost as the 2roomers  but with 30yr lease...cheating the older folks har?

[Guest]

he bought it 3 years ago @ yew tee for $79K and has just moved in

i like the location (near to mrt station, shopping mall & food court) but not the furnishings that is done up by hdb

Edited November 26, 2013 by jcho

[Marineboy]

Is the block a mixed one...diff sz flats or the entire block are SAs? just curious.

So what happens when you outlive the 30year lease??

[Guest]

They managed to get rid those leftover 2 rm in non-mature estate lor. But there are still quite many leftover in mature estate.

After looking thru the woodlands n bt batok 2 rm bto, looks like bt batok slightly better than woodlands. In term of the total number of units per block. But floor level consider quite low for both, highest floor not exceed 16. I still like those 20 level or more.

location-wise, woodlands is better but am concern with the proposed chinese temple to be built nearby (would it be noisy and smokey?)

[Guest]

Is the block a mixed one...diff sz flats or the entire block are SAs? just curious.

So what happens when you outlive the 30year lease??

mixed and it applies to all other studio apartments

With increasing longevity, there might be some retirees who worry that they may outlive their 30-year lease, but an HDB spokesman said that no lessee under the scheme will become homeless even if he or she outlives the 30-year lease.

 

"The HDB will look into the circumstances of each case to determine the appropriate housing arrangement for them, if they are unable to pay for lease extension when their lease terminates," he said.

 

Source: Unlock the value of your home | by Magdalen Ng | The Straits Times | Tuesday, Apr 16, 2013

Edited November 26, 2013 by jcho

[gstc82]

The problem is those scholars in HDB just assume that very few people lives beyond 85 years old according to their statistics. No what ifs and solutions were prescribed.

So when the time comes when the lease expires and the poor chap is still living, they either evacuate and throw him out or as usual, make that poor fella pays an exorbitant "top up" fee to continue staying there.

so far has anyone been thrown out? Old flats went en bloc and owners got new flats

[alien]

location-wise, woodlands is better but am concern with the proposed chinese temple to be built nearby (would it be noisy and smokey?)

Location wise woodlands indeed better, but there are a few proposed religious site nearby.

Quick checked on the application status for the 2 location, woodlands tis time seems like very popular. Total no of units 252 but the application received already reached 906! Bt batok total no of units 202 and total application received is 561! Looks like the demand from singles still very very strong. Today only the 2nd day for the bto.

[alien]

Its the 2018 completion date that is a big turnoff.........

Say only lar. Usually i believe the completion date shld be shorter.

[Marineboy]

Jcho n Alien thnx for your updates...

 

I don't see how they can reduce the backlog demands with status quo...

Do we need to cancel last application before applying for this round?...since there was no outright rejection but awaiting possible viewing which is close to ZERO

Alien they still keeping the jan date for you? mine don't even have date yet..i waiting for their thankyou for your $10 letter

 

What happened to hydronaut? Got a viewing is it??

[alien]

Jcho n Alien thnx for your updates...

 

I don't see how they can reduce the backlog demands with status quo...

Do we need to cancel last application before applying for this round?...since there was no outright rejection but awaiting possible viewing which is close to ZERO

Alien they still keeping the jan date for you? mine don't even have date yet..i waiting for their thankyou for your $10 letter

 

What happened to hydronaut? Got a viewing is it??

Haha, since when there have a thank you letter for your $10?!

Did u login using singpass to get to 'my hdbpage' via hdb webpage? My appointment date still valid till today. But now still nov lor, maybe when nearer the date, they will cancel my appointment since no more flats available for me liao!

[Jefjef]

is it still possible for zero cash to get a 3rm flat at resale market

[alien]

is it still possible for zero cash to get a 3rm flat at resale market

Zero cash how to buy resale flat? Tot at least u need to fork out some cash for the cov?!

[Guest]

is it still possible for zero cash to get a 3rm flat at resale market

Minimum Cash Outlay = (Purchase Price - Valuation) + (5% of Valuation)

in the event if the valuation is higher than the purchase price, Minimum Cash Outlay = 5% of Purchase Price

Edited November 27, 2013 by jcho