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

[Guest Guest]

It will be launched in May 2022 and 2Flexi offer at Jurong West, Toa Payoh and Yishun.

 

Upcoming BTO launch in May.

[Healing Therapy]

 

Are fixed rate a better option in view of a interest rate hike?      Option 1 Year 1. 1.55% (Fixed) Year 2  1.60% (MBR + 0.80%) Year 3. 1.80% (MBR + 1.00%) Year 4. 2.20% (MBR + 1.40%)   Option 2   Year 1. 1.21% (1M SORA + 0.85%) Year 2. 1.21% (1M SORA + 0.85%) Year 3. 1.56% (1M SORA + 1.20%) Year 4. 1.56% (1M SORA + 1.20%)

Edited May 6, 2022 by Healing Therapy

[LeanMature]

For single - the choice is between resale flats in open market or BTO 2-room flexi.  For younger singles, buying a bigger flat in open market is a better choice; With a longer working lifespan, he can use his CPF to pay for the HDB loan and at the same time, can rent out the spare rooms for extra income.  For older singles due for retirement, a BTO 2-room flexi flat serve a better purpose.  It's cheaper, come with shorter lease period and easy for maintenance.

[Guest Guest]

May 2022 Sales Launch - Build-To-Order

[Guest Dav]

can singles apply for 2-room sale of balance flats?

[Guest guest]

On 5/27/2022 at 5:06 PM, Guest Guest said:

May 2022 Sales Launch - Build-To-Order

Jurong West BTO seems nearer to MRT than Yishun, and yet the price is cheaper. Wonder why?

[Guest GUEST]

On 5/27/2022 at 5:46 PM, Guest Dav said:

can singles apply for 2-room sale of balance flats?

Cannot. Singles can only apply 2 room flat under the BTO exercise.

[Guest Guest]

Non-mature Towns

Jurong West 2-room flexi with full grants at $27000+$15000 (SSC) =$42000.

Yishun           2-room flexi with full grants at $43000+$15000 (SSC) =$58000.

 

At this price, any moderate salary worker can effortlessly managed the monthly instalment. 

 

Any single who are lucky to get a unit and cash out, after 5 years MOP, are projected to enjoy a profit of over $200,000  based on today's red hot market. 

 

 

[LeanMature]

On 5/30/2022 at 4:24 AM, Guest Guest said:

Non-mature Towns

Jurong West 2-room flexi with full grants at $27000+$15000 (SSC) =$42000.

Yishun           2-room flexi with full grants at $43000+$15000 (SSC) =$58000.

 

At this price, any moderate salary worker can effortlessly managed the monthly instalment. 

 

Any single who are lucky to get a unit and cash out, after 5 years MOP, are projected to enjoy a profit of over $200,000  based on today's red hot market. 

 

 

 

I think for 2-room Flexi, there is a age limit and also a short lease of either 15, 20,25 years etc. You can't sell it in the open market and your nominated beneficiary will take over the balance lease after you passed away. 

[Guest Guest]

On 5/27/2022 at 5:46 PM, Guest Dav said:

can singles apply for 2-room sale of balance flats?

 

On 5/27/2022 at 5:46 PM, Guest Dav said:

can singles apply for 2-room sale of balance flats?

Can. I applied and got 99yrs lease SBF at northshore drive. About 20k more than normal bto elsewhere, due to faster completion date and current market rate.

[Guest Guest]

HDB resale prices rise for 23rd straight month; Woodlands, Pasir Ris see first million-dollar flats

[lonelyglobe]

On 6/10/2022 at 1:07 AM, Guest Guest said:

HDB resale prices rise for 23rd straight month; Woodlands, Pasir Ris see first million-dollar flats

Woodland one is crazy,  with that million dollars, one would have bought 3 to 4 condo units in JB and the distance to woodland is just 1 MRT stop away once the train start. 

[mate69]

There'll be more and more of such million-dollar flats as time goes by

Just goes to show how much $$$ is sloshing around in the financial system,

and how many cash-rich people there are in SG (and around the world, in general), even amid 

the current economic uncertainty etc

[Guest ffffffff]

Henderson also. One 41st floor unit sold for $1.4m. with 95 years lease left.

Very near delta cruise central. lol 

[Guest guest]

On 5/30/2022 at 4:24 AM, Guest Guest said:

Non-mature Towns

Jurong West 2-room flexi with full grants at $27000+$15000 (SSC) =$42000.

Yishun           2-room flexi with full grants at $43000+$15000 (SSC) =$58000.

 

At this price, any moderate salary worker can effortlessly managed the monthly instalment. 

 

Any single who are lucky to get a unit and cash out, after 5 years MOP, are projected to enjoy a profit of over $200,000  based on today's red hot market. 

 

 

I notice any location, the price of a resale 2 rm flat is at $250k to $380k. The owner really profit a lot.

[Guest GUEST]

On 6/1/2022 at 12:18 AM, Guest Guest said:

 

Can. I applied and got 99yrs lease SBF at northshore drive. About 20k more than normal bto elsewhere, due to faster completion date and current market rate.

Single can apply 2 rm flat under SBF? Like that i can consider getting a BTO 2 room, since i do not want to wait 3-4 years.

[lonelyglobe]

On 6/10/2022 at 10:31 PM, Guest guest said:

I notice any location, the price of a resale 2 rm flat is at $250k to $380k. The owner really profit a lot.

Absolutely, most of them got it 180k or below,  throw in a 50k reno and do mark up from there.

 

I dont see the purpose of buying a 2 room at 380k in a non mature estate when u can get a 3 room in mature estate. 99 years lease is attractive but do u really need it? 

Edited June 10, 2022 by lonelyglobe

[thickhead79]

On 6/10/2022 at 10:34 PM, Guest GUEST said:

Single can apply 2 rm flat under SBF? Like that i can consider getting a BTO 2 room, since i do not want to wait 3-4 years.

yes u can

[Guest Guest]

On 6/10/2022 at 10:31 PM, Guest guest said:

I notice any location, the price of a resale 2 rm flat is at $250k to $380k. The owner really profit a lot.

This profitable route which is based on 99 years lease is applicable only to  those that has not enjoy any HDB grant in his life time. He has the liberty to sell it in the open market after MOP. If the unit is near MRT and with over 90 years balance, it will easily cross over $300k.

 

If the individual has enjoyed some sort of HDB grant, he can still buy the 2 room flexi but the lease will be 30 years. No selling in the open market and balance lease return to HDB should he choose not to stay there anymore. No prospect of capital gain.

 

This smart HDB ruling effectively block many individual from reaping lumpy profit again with 2 room flexi scheme because of their short-sightedness in the past. 

 

[Guest guest]

On 6/10/2022 at 10:52 PM, lonelyglobe said:

Absolutely, most of them got it 180k or below,  throw in a 50k reno and do mark up from there.

 

I dont see the purpose of buying a 2 room at 380k in a non mature estate when u can get a 3 room in mature estate. 99 years lease is attractive but do u really need it? 

3 rm at 380k in mature estate? How old is the flat? Those 2 rm selling at 380k should be in mature estate. Non mature estate 2 rm should sell at 250k to 300k.

[Guest guest]

On 6/10/2022 at 10:53 PM, thickhead79 said:

yes u can

I have missed the SBF in May. So when will be the next SBF?

[Guest jxd]

if single and not yet 35, can buy from resale market?

 

quite confused with the rules

[Guest Papaya]

On 6/11/2022 at 4:45 PM, Guest jxd said:

if single and not yet 35, can buy from resale market?

 

quite confused with the rules

Can

[Guest guest]

On 6/11/2022 at 4:45 PM, Guest jxd said:

if single and not yet 35, can buy from resale market?

 

quite confused with the rules

Cannot if you are buying with one single person and buying a HDB.

[LeanMature]

On 6/10/2022 at 10:34 PM, Guest GUEST said:

Single can apply 2 rm flat under SBF? Like that i can consider getting a BTO 2 room, since i do not want to wait 3-4 years.

 

Yes, must be single 35 and above.  

[thickhead79]

On 6/11/2022 at 3:45 PM, Guest jxd said:

if single and not yet 35, can buy from resale market?

 

quite confused with the rules

of course

 

for single simple rule is min 35yo 

 

BTO only 2 room
Resale any room

[Why?]

The scenario at AMK HDB SER serves as a wake-up call, dispelling the illusion that it is a bonanza for locals. You must also pay the CASH difference of your remaining lease for a new 99-year lease, on top of having your CPF wiped out (if your mortgage is not entirely cleared). As a result, the "owner" of the property has no alternative but to downgrade due to a lack of funds for upgrades.

 

Alternatively, many concerned homeowners choose to sell their SER flat on the open market for a higher price. As the numbers add up, they may not have enough money from the selling proceeds (after setting aside the minimum retirement amount required by CPF) to buy another similar-sized unit with a shorter lease. 

 

To add insult to injury, it is difficult for the elderly to obtain full-time work in order to continue paying their mortgage installments, assuming the bank allows them to take out loans in the first place.

 

We don't need an enemy attack to feel defeated,  if this scenario is still dubbed golden age and graceful living for the elderly.

 

 

[Guest guest]

On 6/16/2022 at 11:57 AM, Why? said:

The scenario at AMK HDB SER serves as a wake-up call, dispelling the illusion that it is a bonanza for locals. You must also pay the CASH difference of your remaining lease for a new 99-year lease, on top of having your CPF wiped out (if your mortgage is not entirely cleared). As a result, the "owner" of the property has no alternative but to downgrade due to a lack of funds for upgrades.

 

Alternatively, many concerned homeowners choose to sell their SER flat on the open market for a higher price. As the numbers add up, they may not have enough money from the selling proceeds (after setting aside the minimum retirement amount required by CPF) to buy another similar-sized unit with a shorter lease. 

 

To add insult to injury, it is difficult for the elderly to obtain full-time work in order to continue paying their mortgage installments, assuming the bank allows them to take out loans in the first place.

 

We don't need an enemy attack to feel defeated,  if this scenario is still dubbed golden age and graceful living for the elderly.

 

 

SERS has been on going for so long, how come this AMK SERS many residents have problem buying the replacement flat?

[Why?]

On 6/16/2022 at 9:01 PM, Guest guest said:

SERS has been on going for so long, how come this AMK SERS many residents have problem buying the replacement flat?

The dreadful situation was brought about by self-serving measures. Nobody talked about deteriorating leases in the past, and property could still fetch a decent market value to match a 1-to-1 replacement of a new flat, which was not yet afflicted by dramatic inflations. Everything started to go downhill on old HDB value once Liang Po Po CB mouth shouted about depreciating HDB value. On the other hand, HDB's new BTO sky rocket to the roof resulted in SER residents' net liability in the current market. 

[Guest guest]

On 6/16/2022 at 9:40 PM, Why? said:

The dreadful situation was brought about by self-serving measures. Nobody talked about deteriorating leases in the past, and property could still fetch a decent market value to match a 1-to-1 replacement of a new flat, which was not yet afflicted by dramatic inflations. Everything started to go downhill on old HDB value once Liang Po Po CB mouth shouted about depreciating HDB value. On the other hand, HDB's new BTO sky rocket to the roof resulted in SER residents' net liability in the current market. 

Maybe the compensation from HDB to those SERS flat is not as good as the resale price in the market? That's why have problem to match 1 to 1 replacement?

 

Even though many flats lease are deteriorating, and yet you still can find those old flat, over 40 year old still sell at quite expensive pricing. Example a 40 year old plus 3 room in clementi can sell at over $400k plus.

[lonelyglobe]

On 6/16/2022 at 9:01 PM, Guest guest said:

SERS has been on going for so long, how come this AMK SERS many residents have problem buying the replacement flat?

I think the SERS package is not as attractive as when they first started,  also AMK is not really a hot location as compare to say redhill or queenstown, where the compensation are higher.

 

Those facing problems are elderly who no longer have CPF contribution. They should consider to downsize or opt for shorter lease flat. For those who are still working, they can pay the extra with CPF, eventually when they sell their new flat,  sure can make a fortune. 

 

In short,  SERS looks good for those who are still working but not so much for retirees especially those who have developed "gan qing" with their neighbour and neighbourhood for over 40 years of stay. 

Edited June 17, 2022 by lonelyglobe

[Guest guest]

On 6/17/2022 at 1:05 AM, lonelyglobe said:

I think the SERS package is not as attractive as when they first started,  also AMK is not really a hot location as compare to say redhill or queenstown, where the compensation are higher.

 

Those facing problems are elderly who no longer have CPF contribution. They should consider to downsize or opt for shorter lease flat. For those who are still working, they can pay the extra with CPF, eventually when they sell their new flat,  sure can make a fortune. 

 

In short,  SERS looks good for those who are still working but not so much for retirees especially those who have developed "gan qing" with their neighbour and neighbourhood for over 40 years of stay. 

If those people have gan qing with their neighbour, HDB has one scheme to allow them to choose the replacement flat together, so that they can stay same blk or even next door when they move to the new flat later.

[thickhead79]

On 6/16/2022 at 8:01 PM, Guest guest said:

SERS has been on going for so long, how come this AMK SERS many residents have problem buying the replacement flat?

these owner mostly are old, they not require 99years lease BUT they expect same size change same size and without extra cost.....

If they big house change small house, and get full 99y lease no issue at all

[thickhead79]

On 6/17/2022 at 8:53 PM, Guest guest said:

If those people have gan qing with their neighbour, HDB has one scheme to allow them to choose the replacement flat together, so that they can stay same blk or even next door when they move to the new flat later.

it not abt location anymore it all boil down to money issue

 

they wan same size of flat.

it is impossible anymore 

[Guest Guest]

Plugging the loop hole.

 

Change in HDB's minimum occupation period rule for Sers replacement flats

[kidster]

Which estate now is like Punngol in the early days where nobody wants to buy due to lack of amenities but develop over the years when people start moving in?

[Guest guest]

On 6/27/2022 at 7:36 PM, kidster said:

Which estate now is like Punngol in the early days where nobody wants to buy due to lack of amenities but develop over the years when people start moving in?

Yishun.

[kidster]

Which estate is like CCK?

 

Can take 190 and reach town in 20 mins via expressway.

[Guest guest]

On 7/11/2022 at 8:57 PM, kidster said:

Which estate is like CCK?

 

Can take 190 and reach town in 20 mins via expressway.

20 mins so fast? If expressway no accident then it is fast, if not prepare to get stuck in the jam.

[Guest Guest]

 

Where HDB resale flats won’t break the bank

[kidster]

On 7/14/2022 at 8:58 PM, Guest guest said:

20 mins so fast? If expressway no accident then it is fast, if not prepare to get stuck in the jam.

 

imagine having stomachache in the middle of expressway. No one can help you. haa

[LeanMature]

On 6/16/2022 at 11:57 AM, Why? said:

The scenario at AMK HDB SER serves as a wake-up call, dispelling the illusion that it is a bonanza for locals. You must also pay the CASH difference of your remaining lease for a new 99-year lease, on top of having your CPF wiped out (if your mortgage is not entirely cleared). As a result, the "owner" of the property has no alternative but to downgrade due to a lack of funds for upgrades.

 

Alternatively, many concerned homeowners choose to sell their SER flat on the open market for a higher price. As the numbers add up, they may not have enough money from the selling proceeds (after setting aside the minimum retirement amount required by CPF) to buy another similar-sized unit with a shorter lease. 

 

To add insult to injury, it is difficult for the elderly to obtain full-time work in order to continue paying their mortgage installments, assuming the bank allows them to take out loans in the first place.

 

We don't need an enemy attack to feel defeated,  if this scenario is still dubbed golden age and graceful living for the elderly.

 

 

 

Is this AMK SER the same plot in the coming AMK BTO Aug 2022 ?

[lonelyglobe]

On 7/14/2022 at 11:34 PM, Guest Guest said:

 

Where HDB resale flats won’t break the bank

Interesting to know but i suppose is not too fair to compare a 1971 built flat and a 1987 one in different location. 

[Guest GUest]

On 7/15/2022 at 9:58 AM, kidster said:

 

imagine having stomachache in the middle of expressway. No one can help you. haa

LOL.

[Guest guest]

On 7/14/2022 at 11:34 PM, Guest Guest said:

 

Where HDB resale flats won’t break the bank

Even can find 3 room flat price cheapest in those popular mature estate but the flat more than 40 years old which in long term wise not very recommended to buy. Cause the flat lease would be decay until not much value after staying in the flat for 10-20 years.

[Guest Guest]

HDB loan requirement will need at least 60 years balance lease.

Less than 60 years lease flat buyer have to use commercial bank loan.

Deep pocket will have no such restrictions.

[Guest Whywhy]

What should I do if I'm 43 this year but I haven't buy my hdb.

 

I've been staying with my mom to take care of her.

 

Prices are disgustingly high now and already beyond my reach.

 

Aiming for a 4 room flat if possible so that I can collect rental. Don't need to work at McDonald's when I'm old.

[Guest Calculated]

On 8/6/2022 at 5:23 PM, Guest Whywhy said:

What should I do if I'm 43 this year but I haven't buy my hdb.

 

I've been staying with my mom to take care of her.

 

Prices are disgustingly high now and already beyond my reach.

 

Aiming for a 4 room flat if possible so that I can collect rental. Don't need to work at McDonald's when I'm old.

Collecting rent will deprive you the freedom of staying on your own.  You will use the rent to service your mortgage until who knows when while you continue to work at McDonald until your mortgage is completed and then you are late 60+ years old.  You will still collecting rent while losing your independency to live on your own until....until.....who knows when you can truly be on your own, by then you don't need a home but a nursing home where you pay rent to be looked after....if you are still on earth. 

[lonelyglobe]

On 8/6/2022 at 5:23 PM, Guest Whywhy said:

What should I do if I'm 43 this year but I haven't buy my hdb.

 

I've been staying with my mom to take care of her.

 

Prices are disgustingly high now and already beyond my reach.

 

Aiming for a 4 room flat if possible so that I can collect rental. Don't need to work at McDonald's when I'm old.

Another option will be go for those 3 rooms with extra utility room,  worse come to worse occupy the utility room and rent out the other 2 common rooms. 3 rooms more affordable amd usually u can get more rebates from our ah gong. 

[Guest guest]

On 8/6/2022 at 9:52 PM, lonelyglobe said:

Another option will be go for those 3 rooms with extra utility room,  worse come to worse occupy the utility room and rent out the other 2 common rooms. 3 rooms more affordable amd usually u can get more rebates from our ah gong. 

Those 3 room with utility room the flat at least 40 year old plus, not very advisable to buy old flat unless really no choice. Also it is illegal to rent out utility room, or rent out 2 bedroom in a 3 room flat. Don't get caught if you plan to do such thing.