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

[thickhead79]

not all investment to BTO is earning money, but yes BTO is a good way, rent after you get your keys, keep one room locked. HDB have very high rental yield!

BTO rent 1 room

then i sleep where?

[Guest Raiden Alpha]

not all investment to BTO is earning money, but yes BTO is a good way, rent after you get your keys, keep one room locked. HDB have very high rental yield!

Flats are mean as a place of retreat and shelter for people and even to start a family if one is a heterosexual. It should not be use as a tool to speculate or capitalise on to make money.

Ever think about by renting out one own flat to a tenant he is actually depriving one local of a rightful place in the workfield? Their excessively large number in the country no doubt push the rental market rate to a high level but over time their lower asking salary compare to a citizen actually contribute to stagnant wage issue and job scarcity for locals.Not to mention that by supporting this form of governance the country actually can't progress and move up the value chain as time went on.

All these are long term impacts that directly affect every citizen long term future and their sunset years security too.

Please think and look further down the timeline.

There is a repercussion effect down the timeline for the country and the people themselves.

[LongCurious]

you cant sublet whole flat out, so if yours is 1 bedroom then LL

 

 

Just a suggestion, either you think long term for everyone, or you think for yourself and how to get the most out of what you have, I dont think thats wrong. Hey, everyone for themselves!

[alien]

not all investment to BTO is earning money, but yes BTO is a good way, rent after you get your keys, keep one room locked. HDB have very high rental yield!

True, if buy 2 rm bto, dun really think can earn money from it. Maybe 3 rm or bigger still can earn money from it.

[HydroNaut]

not all investment to BTO is earning money, but yes BTO is a good way, rent after you get your keys, keep one room locked. HDB have very high rental yield!

 

 

Single can only get 2-room flat.....so only 1 room, how to lock one and rent out one? Even when your BTO flat MOP, you can might not be able to rent out the whole flat......even if you can, where you gonna stay after u rent out?

 

People like me aiming for No COV resale with good price, cause we can buy 3-room or 4-room and then gain back some revenue through renting out the rooms. BTO for singles currently dun look positive in generating passive income though it is cheap and new.

[HydroNaut]

Haha, whether it is 60k or 90k, thing is tis amt not thru mthly instalment from cpf n cash top-up?

 

 

Can do a calculate for me?

 

My HLE is $193K. OA: $155K. Single grant: 15K.

Hoping to buy a 3room or even a 4room at prime location near Bukit Merah/Tiong Bahru/Queenstown/Clementi. Is it feasible?

 

Thanks.

[thickhead79]

Good to go for u.

3 room average 300k

If yr cpf have 155k plus grant 15k U only need to loan the balance of 130k.

[wind]

I think it work both ways. If the evaluation is higer seller can return the deposite. If evaluation is lower buyer can back out. Hdb more work. Property evaluator n agent earn more money

[Guest Guest]

You should look at the angle of home ownership and enjoying thereafter more than just generating rental income. Shocking to see so many post with main focus of being a landlord. FYI rental for HDB is softening already.

[MobyDick]

Good to go for u.

3 room average 300k

If yr cpf have 155k plus grant 15k U only need to loan the balance of 130k.

 

 

Can do a calculate for me?

 

My HLE is $193K. OA: $155K. Single grant: 15K.

Hoping to buy a 3room or even a 4room at prime location near Bukit Merah/Tiong Bahru/Queenstown/Clementi. Is it feasible?

 

Thanks.

 

I would suggest that you put some $$ from OA to investments and then back to OA once deduction is made for the house. At least you have some spare funds to pay for the monthly mortgage should you go out of jobs for few months (touch wood).

[alien]

Can do a calculate for me?

My HLE is $193K. OA: $155K. Single grant: 15K.

Hoping to buy a 3room or even a 4room at prime location near Bukit Merah/Tiong Bahru/Queenstown/Clementi. Is it feasible?

Thanks.

Near town area 3 rm avg price at least 400k or more. A bit quite stress on ur finance if buy such an expensive flat. Unless other than the cpf, u still have lots of cash on hand then still can help by lossen ur loan a bit.

If u want to be less burden on ur loan, better to buy flat cost below 360k. If buy bto 2 rm better cos based on ur OA balance, can pay off the flat without loan and yet still can left some balance in ur OA a/c, as the max price for a 2 rm shld not exceed 140k.

Edited March 14, 2014 by alien

[alien]

I would suggest that you put some $$ from OA to investments and then back to OA once deduction is made for the house. At least you have some spare funds to pay for the monthly mortgage should you go out of jobs for few months (touch wood).

Agreed. It is gd to draws some money from OA to investment temp first, then after the wipe out of the funds in OA, transfer back so tht at least have some money. I wld suggest if funds permits, best is to draw out at least 10k out.

[keyboard]

Don't over stretch into financial trouble. Stick to BTO with sure profit after MOP.

 

Note the number of BTO being built every year, the % of upgraders who applied will (die die) have to sell the flat. A flood of resale will go into the market (2 years more for TOP).

 

There are also a lot of flats being built in Punggol and SK which are reaching the MOP.

[keyboard]

Maybank offering 1.2% first year, 1.3% second year, 1.4% third year....lock in period 3 years on these rates....is it a good deal? UOB is offering 1.38% first year, 1.48% second year...fixed at these rates for two years.... are these considered 'good' deals? Standard chartered about 1.9% fixed for two years...very confusing where all these banks use different rates, and I mean VERY different rates....where's the catch? how to analyse which is the best? what's the basis for comparison? or is SIBOR better? arrgghhh....HELP!

 

Where's the catch? Many holes for you to choose which one you want to jump into. Bank loans are tricky unless you have the time to navigate the different terms and conditions. Which one is best for you is only best for you at that point in time (just like insurance). Then there are things where if you go below a certain amount, other banks are not willing to open new loans for you. Transferring loans means new lawyer fees.

[HydroNaut]

Read the article below:

http://www.propertyguru.com.sg/property-management-news/2014/3/37504/hdb-resale-buyers-sellers-may-shun-unofficial-valu

 

I am battled now... So based on the valuation report given by the HDB valuers.

If the valuation report is higher than the agreed price between the buyer and seller.... The sale will be based on the agreed price and the buyer dun have to pay the difference right?

Cause I read these line from the above article "On the other hand, sellers are worried about selling themselves short if the valuation report is higher than the agreed price."

Is it true?

[Marineboy]

I would think that indeed you will transact at the agreed price..the valuation merely determines the loan you can officially get....that's my understanding anyway.

Pulling out of the deal you lose the deposit, Not sure what the seller loses in this case though??

We await our guru from outerspace

[keyboard]

You are right.

Agreed price > valuation = buyer lugi = buyer cancel losses valuation report fees + deposit to seller

Agreed price < valuation = seller lugi = seller cancel looses 21 days before can issue otp again

Edited March 18, 2014 by keyboard

[alien]

I would think that indeed you will transact at the agreed price..the valuation merely determines the loan you can officially get....that's my understanding anyway.

Pulling out of the deal you lose the deposit, Not sure what the seller loses in this case though??

We await our guru from outerspace

Heard from some property agent, the purpose of submitting OTP to hdb, the request itself already indicate the agreed selling price btw seller n buyer, and so hdb wld come back with the valuation report not too far from the agreed price, maybe plus minus the most 10k. In the end dun think hdb wld allow too much lagi for both side. Tis is wht i heard lah, dun know actual transaction really true or not? Haha.

[HydroNaut]

You are right.

Agreed price > valuation = buyer lugi = buyer cancel losses valuation report fees + deposit to seller

Agreed price < valuation = seller lugi = seller cancel looses 21 days before can issue otp again

 

So in summary:

Buyer need to bargain for the best possible low price.

The Seller need to fetch the highest agreed price.

 

The valuation just served as a gauge to the actual market value of your property, to make make buyer or seller feel good when the price are lower or higher in relevant to the agreed price. But it will not affect the agreed price and cannot change anything from there and dun have to top up any differences from the actual valuation price.

 

If buyer back out....he loses deposit and valuation application cost.

If the seller back out, he just loses 21 days of waiting time.

(The buyer lugi more than the seller leh....where got fair? The valuation served for benefit of the seller instead of buyer.

 

So my above statements are true?

[Marineboy]

I feel the seller should also lose a deposit equal to the buyer should either one back out

[Guest Guest]

Do you think any policy maker will care about your feeling?

I feel the seller should also lose a deposit equal to the buyer should either one back out

 

[LongCurious]

Well, i think we should find ways to work around the current ruling, and not think why is this happening why is that happening, what is fair and what is not, we may have time for that but the TRUE sellers and buyers doesnt!

 

PM me if need more info

[alien]

Think in long run, the new ruling still somehow benefit buyer than seller, cos now seller cannot ask for crazy cov.

[thickhead79]

why March BTO take so long?

[alien]

Mar bto not long, just bcos last bto due to cny period, so started a bit earlier. Usually bto will launch on last wk of the mth. So i guess mar bto shld launch on 25 mar n application closed 1 wk later.

[keyboard]

Seller lugi because a lot of things can happen within a 21 days period. See how COV prces have gone down month by month.

With this new ruling, it is really just putting cov into the price. I feel its not accurate to put valuation as reference because a well renovated unit is more valuable than a run down unit, not like condos quite fixed just based on higher or lower floor decided when they brought the unit.

[keyboard]

Think in long run, the new ruling still somehow benefit buyer than seller, cos now seller cannot ask for crazy cov.

I really dont think it will benefit anyone, there isnt anything changed really. When market is good, seller not happy with valuation price, he can just wait again for better offer increasing the agreed price.

[alien]

If the seller need to sell off the flat within 6 mths or urgently, dun think the seller can wait.

[thickhead79]

Mar bto not long, just bcos last bto due to cny period, so started a bit earlier. Usually bto will launch on last wk of the mth. So i guess mar bto shld launch on 25 mar n application closed 1 wk later.

so all submission can be done online right 

 

even when i am overseas?

[alien]

so all submission can be done online right 

 

even when i am overseas?

Submission all done online. But u need singpass to log in to submit ur application. Dun know overseas can access singpass or not?

[LongCurious]

Buyer want to buy at the lowest price, not always realistic, seller wants to sell at the right price, its hard to sell with sky high prices and hope the buyer will stay even with additional COV, genuine parties will priced it close to previous valuation or recent transactions nearby.

 

No one is here to eat your 1k deposit, dont offer like a madman.

Sellers arent going to let you test water by placing that minor sum of deposit and valuation fees just to WAIT 21 days, sincerity is key.

Buyers, either do your homework OR find a decent agent to assist you, the 1% agent com, compare to offering the wrong price for your home, 1% is not too bad

[keyboard]

For those with/looking for loans, fed guidance released just a few hours ago.

http://mobile.bloomberg.com/news/2014-03-19/yellen-retreat-from-policy-thresholds-doubted-as-yields-rise.html

Read that this is not set in stone, will change with economic situations. Earliest rate increase by sept 2014. 1% in 2015, 2.25% in 2016. Do you already have the funds when interest rates increase or are you going to default and sell house by then?

[Guest Guest]

Submission all done online. But u need singpass to log in to submit ur application. Dun know overseas can access singpass or not?

Yes. From overseas, can submit application as well as login to singpass.

[alien]

Look out for the mar BTO, shld launch somewhere tis week.

[thickhead79]

Look out for the mar BTO, shld launch somewhere tis week.

still waiting

 

what else need to prepare?

[alien]

No need to prepare much unless u got the bto after u have submitted ur application.

[thickhead79]

Bto have kick off till 1 apr

I applied

[alien]

Bto have kick off till 1 apr

I applied

Haha, u so fast applied liao? No need to go down to the site to recee? I have yet have time to go to the website to see?!

FYI, bto application is not on a first-come-first-serve basic hor. Haha.

[thickhead79]

Haha, u so fast applied liao? No need to go down to the site to recee? I have yet have time to go to the website to see?!

FYI, bto application is not on a first-come-first-serve basic hor. Haha.

No need cos I just need a flat.

Next bto in may bt batok n woodland.

[alien]

Even u need a flat still need to go thru ballot lor. Anyway, gd luck to u lar.

Seems like long time no bto at sengkang liao? Recent bto all at woodlands, yishun, sembawang n bt batok?!

[keyboard]

Just to raise awareness for those doing loans. Saw this article that even though you have sufficient cash in cpf, once you go over the valuation limit, you have to use cash to pay the remainder of the loan.

[thickhead79]

March BTO 

Yishun, Sembawang and Sengkang

 

May BTO

Bt Btaok and Woodland

and 3000 balance flat

[alien]

Next round bto have balance flat? For 2 rm or bigger flat?

[Marineboy]

2 room bto mostly if not all usually soldout. Likely 3roomers n larger....3000 wow that is quite a number of no takers.

Perhaps there is a chance to go for the 3roomers then

Their policies can suka suka amend one to suit the situation. We have seen it before.

[alien]

I also think the 3000 balance flats shld not comes from 2 rm flat, cos all snapped out by singles! Shld be 3 rm n 5 rm since these two type of flats not many takers. Most familes n couples majority now go for 4 rm. I know one friend able to get a 3 rm in mature estate somemore, cos not many pple apply for it.

[alien]

Looks like tis round bto, yishun 2 rm more popular than sembawang site. Already abt 1600 applicants for yishun bto for only 288 units offered! Tot yishun always not as popular as sembawang? I find the sembawang site, the total number of units per floor way too many liao, as some block have as many as 17 units?! Although the level is low but still dun like the idea of having too many units per floor.

As for yishun, seems like slightly better as the total units per floor only ard 12. Although personally still find too many. But tis round bto, both site dun have any rented flats being build within the same project. Looks like the design for 2 rm flat bto is getting worse. Hdb seems like trying to add as many 2 rm flats as possible per block n also many units for others flat type without taking into consideration of privacy n facing. Seems like our demand for bto really have tons of pple waiting!

Edited March 28, 2014 by alien

[alien]

Haha, reminder to those who have not submit their application for mar bto. The deadline will be tonite at 2359hrs.

Anyway, the total received application for yishun now is 2905 for 288 units offered. And 1486 for sembawang for 452 units offered.

[groyn88]

Just uploaded yesterday's news clip to my YouTube account:

Fall in demand for BTO flats in latest exercise
The demand for the second batch of Build-to-Order (BTO) flats launched this year has dropped, compared to the previous batch. But analysts Channel NewsAsia spoke to said the housing needs of some groups are still not being met.
The exercise will close at midnight on Tuesday.
There were 4.1 applicants vying for each unit in January's BTO exercise.
But for the exercise this month, the number is at 2.4, as at 5pm on Monday.
Eugene Lim, key executive officer at ERA Realty Network, said: "Some buyers may have held back their applications this round, one reason being that there is an upcoming Sale of Balance Flats (exercise).
"Some of those flats are almost completed and you can actually get them quite fast."
Some 3,000 flats will be offered in a Sale of Balance Flats exercise in May.
Analysts also said the lower application rate for this month's BTO exercise shows that supply has generally caught up with demand.
But they added that housing needs of some groups are still not being met.
Mr Lim said: "If you look at the overall figure, it does seem to give you the impression that housing needs are being met.
"But if you look at the various sub groups, then you can actually pick up that for certain groups, their housing needs are still not met.
"So for example, one that still stands out very strongly is the singles (group). The application rate for BTO flats is still very high among singles."
As at 5pm on Monday, there were 27.6 singles applying for each two-room flat in Yishun.
Over at Sembawang, there were nine single applicants for each two-room unit.
Analysts said it is no surprise that the flats in Yishun are more popular among singles, compared to Sembawang.
Analysts said the area is closer to mature estates such as Ang Mo Kio and Yio Chu Kang, while Sembawang is at the northernmost point of Singapore.
This month's BTO exercise also saw the fourth batch of 3-Generation (3Gen) flats being launched.
The popularity of such units continues to be higher among second-timers.
As at 5pm on Monday, there were three first-time buyers applying for each 3Gen or five-room unit, compared to 13.2 second-time applicants.
One analyst Channel NewsAsia spoke to said the Housing and Development Board could consider allocating more 3Gen flats to second-timers.
Thomas Tan, executive director at Remax Singapore, said: "If I am a first-timer and I own a HDB flat, that is probably for myself, maybe my children. But as time goes by, the household size grows, together with the initiative where one wants to look after parents.
"Generally, the (household) size grows -- that is probably why you see greater need (for 3Gen flats) from second-timers rather than first-timers."
The next BTO exercise will be in May, and the HDB will offer 3,060 flats in Bukit Batok and Woodlands.
 

[alien]

But hdb never release the 3000 balance flat offer in may bto is wht type of flat n the location. So if u wait for the may bto, still like a gamble game. Cos the balance flat may not be the type of flats n location u r looking for?!

[HydroNaut]

When the result coming out for the March BTO?