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

[loy2310]

Result out already

[alien]

Haha, anyone got the bto flat?!

[Guest guest]

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

 

Seller cannot cancel once he issue the OTP(option to purchase) to buyer. Only the buyer are allowed to cancel and forfeit his deposit or to exercise the OTP.

 

If the seller refuse to let the buyer exercise the OTP within 21 days, the buyer can sue the seller. All sms exchanges to contact the seller agent or seller must be kept as proof.

[Guest Guest]

Im 35 this year. I have a private condo under my name. May i know can i buy resale HDB and rent out my condo?

[LongCurious]

you have a private condo under your name, you must sell the private property and wait 30 months to be able to buy resale HDB, followed by 5 years MOP then you can buy a condo and rent out provided you are a singaporean

 

in your case, it is not really wise to sell your condo, wait 7.5 years and then buy a condo again.

 

I would suggest getting another condo unit and rent out the other.

[HydroNaut]

Aiyoh....I got this:

 

"Your balloted queue position for a 2-Room in Sembawang is 453. We will provide you with the flat selection details such as the flat list and brochure when we invite you to select a flat. The selection exercise has been tentatively scheduled to start from End May 2014, subject to change. As your queue position exceeds the 452 units of flats on offer, whether you will be able to select a flat would depend on the availability of flats and ethnic quota when your turn is due. Hence, please check on the availability of flats and ethnic quota before coming down for your selection appointment. "

 

Might get it, but why 453 out of 452? I am just a step outta of the range. I might just get the "not so desired" one lor.

[alien]

Haha, congrats on striking the lottery! It is so so difficult to get the bto.

Dun worry so much, i believe confirmed u r able to select a flat on ur appointment day, but like u have mentioned, maybe cld not get the dream unit and flooring u want. But i guess chances quite high to get a unit at least storey 5 and above, based on past take up rate on the 2 rm flat selection. Shld be quite many pple give up selecting the flat.

Anyway, even ur queue number is 452 also not much diffrent from 453 lar. At least u r able to get the 2 rm bto.

[Marineboy]

HydroNaut you're not that different from 452 really.

Like Alien said you stand a pretty good chance of selecting a flat on appointment day.

Need moral support or recce kaki....I am just a kopi away hahaha

There will be a build up model display at HDB hub before selection day....you might want to see the 3D scale to have a better feel of the entire setup.

 

Congrats too. I will be one mrt stop away only

[HydroNaut]

Hope to get the Sembawang unit...though from last report the Yishun unit was more hot. But didn't the people do their research...Sembawang unit will have an MRT right in front of the flat in years to come. Yishun unit is so far away from the MRT, if i get it...might not take it.

 

Resale market is cooling down now, getting a resale 3 room is also another passive income if you looking for renting out one room too.

 

So crossing fingers. See what comes.

[alien]

Not need to hope, confirmed u can get a unit on ur appointment day. Now only must see whether if the unit available on tht day is wht u want or not. Gd for u since u always like to get a flat in sembawang.

If u dun mind to wait for 3-4 yrs, still think it is much better to get the 2 rm bto flat instead of resale 3 rm flat.

[alien]

May bto is launched for application, tis round 2 rm flat location is marsiling n bt batok. Noticed tht for marsiling 2 rm project, they mixed rental n sale of flats within a block. Which means 3rd to 9th storey are for rental flats, n 10th storey and above are for sale of flats!

Anyway, closing date for tis bto is 28 May.

[Marineboy]

You trying for it?...we can be neighbours in the future

[yoyo74]

I like to ask a question. Is the sales of balanced flats same price as bto or more expansive?

[Guest Guest]

May bto is launched for application, tis round 2 rm flat location is marsiling n bt batok. Noticed tht for marsiling 2 rm project, they mixed rental n sale of flats within a block. Which means 3rd to 9th storey are for rental flats, n 10th storey and above are for sale of flats!

Anyway, closing date for tis bto is 28 May.

 

usually, those ppl living in rental flats other than poor elderly who are ok, the rest may have complex backgrounds and unsavory characters. i do not wish to see them as my neighbours.

[HydroNaut]

Just a question....for my case, if i am like a number out of the March BTO and till now the result for selection is not out yet. Then i apply for this May BTO, what if by June they asked me for selection then I reject.

 

Then for this May BTO I also reject. I will be banned for 1 year from BTO project?

Cause I find that their project to project delay is close and the balloting result is too long, applicants who are just outside the waiting area like a few numbers outta the quota might face situation like this.

[alien]

Just a question....for my case, if i am like a number out of the March BTO and till now the result for selection is not out yet. Then i apply for this May BTO, what if by June they asked me for selection then I reject.

 

Then for this May BTO I also reject. I will be banned for 1 year from BTO project?

Cause I find that their project to project delay is close and the balloting result is too long, applicants who are just outside the waiting area like a few numbers outta the quota might face situation like this.

I believe the rule is if u have a chance to select flat and u reject the chance to choose a flat for 2 times, u will be ban for applying for bto for 1 yr.

[Marineboy]

Just a question....for my case, if i am like a number out of the March BTO and till now the result for selection is not out yet. Then i apply for this May BTO, what if by June they asked me for selection then I reject.

 

Then for this May BTO I also reject. I will be banned for 1 year from BTO project?

Cause I find that their project to project delay is close and the balloting result is too long, applicants who are just outside the waiting area like a few numbers outta the quota might face situation like this.

 

I believe if you reject twice then red card liao.

At least you  were given 2 choices.

I am certain you will get to choose a unit...it's whether there are enough larger units left for you to choose from.

Best is email them your question.

Can always fall back on resale.

 

BTW you can monitor the takeup rate daily in the website

Edited May 23, 2014 by Marineboy

[alien]

I like to ask a question. Is the sales of balanced flats same price as bto or more expansive?

Price shld be the same, but tis round 3000 plus of balance units only apply for married couples n family. Singles not eligible.

You trying for it?...we can be neighbours in the future

Shld be trying but still havent decide which location. Haha.

[thickhead79]

May BTO kick off!!!!! by 28 May

[yoyo74]

Price shld be the same, but tis round 3000 plus of balance units only apply for married couples n family. Singles not eligible.

Shld be trying but still havent decide which location. Haha.

Which post in the HDB website say only apply for married couples and family for the sales of balanced flats? Too many information there and cant find it lol

[alien]

Which post in the HDB website say only apply for married couples and family for the sales of balanced flats? Too many information there and cant find it lol

U can go to hdb website and look for Press Releases for the May bto flat news. Under tis Press Releases, it indicate tht the SBF exercise in tis May bto, flats offered are reserved for families.

[Guest guest2508]

Finally booked my flat for punggol vue BTO. As my queue no. Is far back, i only selected a so-so unit. But very glad to settle my accomodation problem. Just need to wait another 3.5 years to move in

All the best to those who are still balloting!

[HydroNaut]

I believe if you reject twice then red card liao.

At least you  were given 2 choices.

I am certain you will get to choose a unit...it's whether there are enough larger units left for you to choose from.

Best is email them your question.

Can always fall back on resale.

 

BTW you can monitor the takeup rate daily in the website

 

 

Which section to view the takeup rate in the hDB website?

[Marineboy]

Which section to view the takeup rate in the hDB website?

 

Go HDB info web....type in( Flats available) in the search.

The top on the list....says flats available for invited applicants..i could not paste the link in here ;P

Hope it works.

[alien]

As of now, the no. of applicants submitted for the May bto bt batok n marsiling site is ard 1150 for both! Total flats offered for bt batok is 390 n marsiling is 289! Tis is really crazy?! Wonder when tis crazy application for the 2 rm flat will end?!

[bluerunner]

I would suggest getting another condo unit and rent out the other.

The biggest obstacle is to pay for the downpayment of your 2nd private property. You can only borrow up to 60% max. That mean you need to fork out 40%. That is not easy.

[alien]

I believe buying ex item like car and house which require u to downpayment a huge amt of cash, really not easy if u do not have lots of extra cash on hand. Dun think u wld empty all ur cash in ur bank account just to pay for tht downpayment, even though u may have tht amt of cash.

[bluerunner]

I believe buying ex item like car and house which require u to downpayment a huge amt of cash, really not easy if u do not have lots of extra cash on hand. Dun think u wld empty all ur cash in ur bank account just to pay for tht downpayment, even though u may have tht amt of cash.

I cannot live in peace if I do that. In Singapore, work life is very volatile. Today u can have a job, tomorrow you could be out of job. Anything is possible to happen anytime. Thus, I feel that I need to have some cash in hand in case of emergency. Just my 2cents.

[alien]

Agreed, having hard cash in hand is very impt. Thts y always buy within own means and do not overstretch ur expenses.

[Guest How to]

I would like to sell my fully-paid 4-room on condition that I can find an alternative unit from the re-sale market of my liking and will consider downgrading.

 

The problem is how marry two transactions at the same time:  i.e. sell and buy in such a way that I move out and move in at the same time without re-financing.

 

Anyone has achieved this feat without having to temporarily rent while looking for a new place?

[thickhead79]

Dear Sir/Madam    

 

SALE OF FLATS IN MARCH 2014 BUILD-TO-ORDER (BTO) EXERCISE            

 

Congratulations, you are successful in your application to buy a 2-room flat at Sembawang.   

 

Your application has been balloted with a queue position of 4XX, which is within the supply of 452 units of flats on offer.   

 

The selection exercise is expected to start from End May 2014. You will receive the invitation package by post soon. The package will contain the flat list, the sales brochure (if you have opted for a softcopy brochure, you may login to My HDBPage to view the brochure online), the appointment date to book your new home and the list of documents which you will need to bring along. You can also check for any updates via My HDBPage at www.hdb.gov.sg using your SingPass.   

 

We would also like to draw your attention to some important information enclosed below. Do take time to read it.   

 

We look forward to meeting you at your selection appointment.

Edited May 27, 2014 by thickhead79

[alien]

Haha, congrats on ur successfully application for the 2 rm flat! Although it is very hard to be successful in getting the 2 rm flat, and yet there are quite many of us here still lucky enough to get a flat eventually.

[alien]

For those who have applied for the May BTO, result shld be out within this wk. Good luck.

[ezzeq]

The biggest obstacle is to pay for the downpayment of your 2nd private property. You can only borrow up to 60% max. That mean you need to fork out 40%. That is not easy.

 

Also the downpayment is 50% is if you have existing loan of your current property. And not forgetting the 10% stamp duty if you want to buy a 2nd property.

Also got another stupid thing called total debt servicing ratio which takes account of yr credit card bills, car loans u own....so the amount u k borrow will be much much reduced.

Edited June 23, 2014 by ezzeq

[Guest GUEST]

why dun this ppl as a singaporean buy a resale 3 rm flat which is bigger ,2 rm flat dun u think is too small.This is so call yr country yet so miserable have to get 2 rm flat?

[Guest Guest]

This is  not stupid thing.  This is to prevent you from over stretching into financial problem. If you ran into financial trouble, you will be a social problem and the government will have to feed you so you don't commit suicide.

Also the downpayment is 50% is if you have existing loan of your current property. And not forgetting the 10% stamp duty if you want to buy a 2nd property.

Also got another stupid thing called total debt servicing ratio which takes account of yr credit card bills, car loans u own....so the amount u k borrow will be much much reduced.

 

[bluerunner]

This is not stupid thing. This is to prevent you from over stretching into financial problem. If you ran into financial trouble, you will be a social problem and the government will have to feed you so you don't commit suicide.

I do agree on the debt ratio thingy. I believe many who bought the 2nd and 3rd home are at "risk" if the interest rate shoots up to pre-financial crisis level.

With the new laws especially on the downpayment and landing capacity, average salarymen especially singles will have a very tough time with getting a home.

It makes me wonder how is it possible that new launched condos are snatched up like hot potatoes?!

[Guest Guest]

I do agree on the debt ratio thingy. I believe many who bought the 2nd and 3rd home are at "risk" if the interest rate shoots up to pre-financial crisis level.

With the new laws especially on the downpayment and landing capacity, average salarymen especially singles will have a very tough time with getting a home.

It makes me wonder how is it possible that new launched condos are snatched up like hot potatoes?!

Nowadays no longer hot potatoes situation. All the new condo launched have unsold unit.

[ezzeq]

I do agree on the debt ratio thingy. I believe many who bought the 2nd and 3rd home are at "risk" if the interest rate shoots up to pre-financial crisis level.

With the new laws especially on the downpayment and landing capacity, average salarymen especially singles will have a very tough time with getting a home.

It makes me wonder how is it possible that new launched condos are snatched up like hot potatoes?!

It is a buyer market. Prices have come down a bit to push sales of unsold units.

[alien]

Result for the May BTO is out. For those who have applied, do check your email.

[HydroNaut]

Just booked the 2-room flat in Sembawang EastCrown....anyone also booked the flat there?

 

Just one question, are we able to sell or rent out the unit when we completed the MOP?

[Marineboy]

I don't see why not.

Welldone.

 

Did you get the decent floor n the bigger unit as well?

Result for the May BTO is out. For those who have applied, do check your email.

 Any luck this time rouind??

[alien]

Did you get the decent floor n the bigger unit as well?

Any luck this time rouind??

I give up on bto flat liao. Edited July 9, 2014 by alien

[alien]

Just booked the 2-room flat in Sembawang EastCrown....anyone also booked the flat there?

 

Just one question, are we able to sell or rent out the unit when we completed the MOP?

Congrats on booking ur flat. U see even ur queue number is outside the unit offered, ultimately u still able to get a flat.

After ur MOP, u r able to sell ur flat, thts for sure if u didnt get any grants lor. As for rent out the whole unit shld be ok also.

[Guest Guest]

Gave up and continue staying with parents and the whole society will continue looking down on you.

[Guest Guest]

i was waiting for them to announce the letting of singles to buy new BTO until cannot wait.

 

So in the end, shared w my bf and brought a 660K 1 bedder freehold penthouse at geylang, TOP next yr.

 

 

[Guest Guest]

The peak was 18-24 months ago so buyer then will suffer real/paper loss of 7-10% today. Many project relaunched at substantial discount.

[Guest Guest]

buying for own stay is ok furthermore, its a choice corner unit,freehold.

 

if wait for price to drop, might not get that unit also. furthermore, the entire project was sold w 4 units unsold in less than 1 yr of launch.

 

anyway price will eventually still go up, will not go down.

 

just like our $2 was very big in the 90s but not now.

 

 

[Marineboy]

Gave up and continue staying with parents and the whole society will continue looking down on you.

 

Plse don't gv a fcuk what society thinks...they don't matter to you at all unless you allow it to.

All that matter is you are happy and at peace with the situation.

We  just need to adapt as situation changes though at times it may not always be the way you want it.

Keep doing what you need to and who knows things may look up your way

 

FYI some my frens are so jealous of me living with my parents for so many years with no wife kids to take care of with more disposable income etc.

I always tell them it looks greener on the other side...I am happy for them setting up family etc...but it was not meant for me so I take it in good strike.

[HydroNaut]

I don't see why not.

Welldone.

 

Did you get the decent floor n the bigger unit as well?

 Any luck this time rouind??

 

Yeah, I have the options to choose between the bigger and smaller unit. But the things is....only smaller units have higher floors like 12 floor that I like, the bigger unit have only 4th floor the highest left, so I got the bigger unit on the 4th floor.