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

[thickhead79]

20 hours ago, Guest guest said:

Many people profit a lot when they sell their HDB, even though they buy another. Like those who bought as firsthand HDB or buy their HDB 20 years ago. When they sell, they profit.

Example

[thickhead79]

19 hours ago, 30yochinese said:

i benefitted from the SINGLES HOUSING GRANT.

F.Y.I.
                                                       

Yes any 2 single can joint name to buy HDB 

[thickhead79]

A 4-room HDB resale flat at Tiong Bahru was recently sold this month for a record-breaking S$1.5 million, 99.co has learned. It is now the most expensive HDB resale flat ever sold.

The previous record price was S$1.418 million, held by a 5-room HDB resale flat at SkyTerrace @ Dawson for almost a year, from July 2022 until recently.

This is also not the only record the S$1.5 million transaction has broken. The HDB resale flat is also now the most expensive 4-room HDB resale flat, eclipsing the previous record price of S$1.4 million set by a Pinnacle @ Duxton flat in April.

[Guest HDB]

31 minutes ago, thickhead79 said:

A 4-room HDB resale flat at Tiong Bahru was recently sold this month for a record-breaking S$1.5 million, 99.co has learned. It is now the most expensive HDB resale flat ever sold.

The previous record price was S$1.418 million, held by a 5-room HDB resale flat at SkyTerrace @ Dawson for almost a year, from July 2022 until recently.

This is also not the only record the S$1.5 million transaction has broken. The HDB resale flat is also now the most expensive 4-room HDB resale flat, eclipsing the previous record price of S$1.4 million set by a Pinnacle @ Duxton flat in April.

😮 for a unit that is 50 years old

[Guest guest]

22 hours ago, lonelyglobe said:

No one know but looking at the pre covid compare to current price,  the difference is at least 20%, meaning a 400k flat now is only about 320k before covid. The difference can be great and worth waiting but of course nothing is guaranteed. 

The price now is really crazy. A 400k flat now is 320k before covid, esp the flat is already few years older. Thought as the flat gets older, the price should drop instead of going up. Think really best time to sell now, if not price go back to before covid, then lose a lot.

[Guest guest]

1 hour ago, thickhead79 said:

A 4-room HDB resale flat at Tiong Bahru was recently sold this month for a record-breaking S$1.5 million, 99.co has learned. It is now the most expensive HDB resale flat ever sold.

The previous record price was S$1.418 million, held by a 5-room HDB resale flat at SkyTerrace @ Dawson for almost a year, from July 2022 until recently.

This is also not the only record the S$1.5 million transaction has broken. The HDB resale flat is also now the most expensive 4-room HDB resale flat, eclipsing the previous record price of S$1.4 million set by a Pinnacle @ Duxton flat in April.

Previously when we hear resale HDB sold for millions, usually only 5 rm would have such record. Now even 4 rm also can sell at millions, this is really going crazy. So next time 3 rm also can sell for million?

[Guest guest]

22 hours ago, 30yochinese said:

1. how much i paid for my RESALE 4 room flat @ REDHILL MRT?
   
   $500,000.
    
2. how much H.D.B. give me for SINGLES HOUSING GRANT?
    
   $20K + $20K + $20K.
   (T&C Apply.)
    
3. how much was my HDB Loan?
    
   $30,000.
    
4. for a original condition flat, how much did my Renovation cost?
    
   EXCLUDING Equipment/Appliances, around $60,000.
    
5. how long i was house-hunting?
   from 1-1-2019 to 6-6-2020.
   
   found my current unit in 7-7-2020.
   
   @ HDB HUB to sign papers with seller on 12-12-2020.
   
   moved in after Reno, on 4-4-2021.
    
   Renovations delayed coz of circuit breaker & covid.
    
    
6. https://www.srx.com.sg
   how much can i sell my 4room Flat?    $600,000
   
   how much if i rent out?                     less than $3,000
    
   Your property (PSF) $659.
   //
   
                                                

You spent 1.5 years to successfully got your house?

 

Can revealed how old is your house? Bought at $500k and now can sell $600k, consider not bad if it is an old HDB.

[Guest Ignorant]

I am still amazed by the level of ignorance on the price of hdb flats. 

 

If the price ever comes down, it's actually a correction. After that, it will continue its upward trend.

 

If the price really stays depressed or collapses, that would likely mean that you have lost your job, as have many others, due to some catastrophic reasons such as WW3 and Singapore is bombed to shambles. Then maybe it's a good time to even buy a few bungalows.

[thickhead79]

my 2 room 140k 2017

now can sell 350k 2023

 

so i buy a 3 room 450k 

 

where the earn?

[Guest Guest]

Next year if MOF go ahead and increase the GST to 9%,  this will strengthen our S$ which in turn will attract more foreigners seeking employment here. More job seekers here means more rental demand and this will likely push up property prices.

 

Land launched today for development will take at least 60 months to receive TOP. 

 

(PS: Posting from a property owner's point of view and property hunter's point of view may be different.) 

[Guest guest]

14 hours ago, thickhead79 said:

my 2 room 140k 2017

now can sell 350k 2023

 

so i buy a 3 room 450k 

 

where the earn?

Only if you buy now, cannot earn. Or you look for 3 rm around 400k or below.

[Guest Thinking too much]

2 hours ago, Guest guest said:

Only if you buy now, cannot earn. Or you look for 3 rm around 400k or below.

3 room below 400k are most likely  inhabitable condition. Think of the extra renovation cost which may be a bomb too.  Best is to make peace with your existing  house and live happily thereafter. 

[Guest newbie]

If I have enough money in my CPF OA to pay full for 2room flexi BTO, do I do that or take HDB loan?

[thickhead79]

33 minutes ago, Guest newbie said:

If I have enough money in my CPF OA to pay full for 2room flexi BTO, do I do that or take HDB loan?

Do lo

 

Keep inside interest 2.5%

 

Hdb loan interest 2.6%

 

U must transfer to do investment if u not want to pay for hdb

[Guest Easy]

35 minutes ago, Guest newbie said:

If I have enough money in my CPF OA to pay full for 2room flexi BTO, do I do that or take HDB loan?

Ideally pay in full with cash, 

2nd Option pay in full with CPF

 

The above will save you from incurring high interest cost if taking loan. 

 

[Guest newbie]

45 minutes ago, Guest Easy said:

Ideally pay in full with cash, 

2nd Option pay in full with CPF

 

The above will save you from incurring high interest cost if taking loan. 

 

 

Thanks. If I plan to pay full in cash. I choose I don't need HDB loan now when applying for HFE letter now, what if I need it when the time comes?

[Guest Guest]

1 hour ago, Guest newbie said:

If I have enough money in my CPF OA to pay full for 2room flexi BTO, do I do that or take HDB loan?

Can you dictate how much HDB deduct from your CPF OA under current situation?

[thickhead79]

57 minutes ago, Guest newbie said:

 

Thanks. If I plan to pay full in cash. I choose I don't need HDB loan now when applying for HFE letter now, what if I need it when the time comes?

Just apply the letter

 

It a requirement no care loan or not

[thickhead79]

52 minutes ago, Guest Guest said:

Can you dictate how much HDB deduct from your CPF OA under current situation?

They will deduct everything less 20k in your OA

[Guest guest]

3 hours ago, Guest newbie said:

If I have enough money in my CPF OA to pay full for 2room flexi BTO, do I do that or take HDB loan?

2rm flexi BTO refer to short lease meant for seniors, right? In this case, you should be at least 55 year old then can buy, i think should full pay the flat. Esp the price for 2 rm flexi is not that expensive. No point taking loan.

[thickhead79]

46 minutes ago, Guest guest said:

2rm flexi BTO refer to short lease meant for seniors, right? In this case, you should be at least 55 year old then can buy, i think should full pay the flat. Esp the price for 2 rm flexi is not that expensive. No point taking loan.

As long as 35 can buy

[lonelyglobe]

23 hours ago, Guest Ignorant said:

 

If the price ever comes down, it's actually a correction. After that, it will continue its upward trend.

Price correction is a better term for price fall,  just like circuit breaker is a better term for complete lock down. 

[Guest guest]

7 minutes ago, lonelyglobe said:

Price correction is a better term for price fall,  just like circuit breaker is a better term for complete lock down. 

By right resale price should come down since already open up and BTO construction also resumed fully.

[lonelyglobe]

21 minutes ago, Guest guest said:

By right resale price should come down since already open up and BTO construction also resumed fully.

Well,  goes up very fast but come down will take a little bit longer but definitely worth the wait. 

[Guest guest]

9 hours ago, lonelyglobe said:

Well,  goes up very fast but come down will take a little bit longer but definitely worth the wait. 

Like this i better sell my flat now first before the price come down. 😂

[Guest Guest]

On 6/22/2023 at 7:48 PM, lonelyglobe said:

Not so true,  u may want to google the last 20 years resale price to get a clearer picture. Now is definitely not the best time to buy, if someone tell u so,  he must be a agent.

 

Please don't mislead.  Going by your argument, 2021-2023 would have been bad times to buy.  If a person who is only interested in buying for own stay waited until 2023, the prices would have increased 50-100K throughout.  It is very obvious from the chart that the resale prices for the last 20 years supports the idea that prices only increase in the long term.   The correction is minimal - corrections itself is tied to loan issues, so you can be sure govt will support the market.  HDB loan is a kind of support.  

 

There are typically 2 kinds of HDB is general - good attributes (e.g. near MRT, amenities) and bad attributes (e.g. far from MRT).  The prices of flats with good attributes can maintain its prices easily.  The problem with the current market is even new 3-room flats with bad attributes can go for 450K easily in resale.  Flats with bad attributes are the ones that suffer from price corrections, but prices will not correct too much as long as people can hold.      

 

If someone is buying for own stay, there is no reason why they should postpone especially if they are aiming for flats with good attributes.  But if that person is buying HDB for investment, then he may wish to wait.  Not because the prices will go down but more of the current risk reward given the recent boom.

[Guest Logic]

1 hour ago, Guest Guest said:

 

Please don't mislead.  Going by your argument, 2021-2023 would have been bad times to buy.  If a person who is only interested in buying for own stay waited until 2023, the prices would have increased 50-100K throughout.  It is very obvious from the chart that the resale prices for the last 20 years supports the idea that prices only increase in the long term.   The correction is minimal - corrections itself is tied to loan issues, so you can be sure govt will support the market.  HDB loan is a kind of support.  

I am of the same view that lonelyglobe's views are not very rational. Buying and selling flats is not like buying and selling stocks and shares where you try to time the market.

 

Not sure why he is getting upset with housing price increase and losing his rationality and starting scolding sellers.

[Guest guest]

6 hours ago, Guest Guest said:

 

Please don't mislead.  Going by your argument, 2021-2023 would have been bad times to buy.  If a person who is only interested in buying for own stay waited until 2023, the prices would have increased 50-100K throughout.  It is very obvious from the chart that the resale prices for the last 20 years supports the idea that prices only increase in the long term.   The correction is minimal - corrections itself is tied to loan issues, so you can be sure govt will support the market.  HDB loan is a kind of support.  

 

There are typically 2 kinds of HDB is general - good attributes (e.g. near MRT, amenities) and bad attributes (e.g. far from MRT).  The prices of flats with good attributes can maintain its prices easily.  The problem with the current market is even new 3-room flats with bad attributes can go for 450K easily in resale.  Flats with bad attributes are the ones that suffer from price corrections, but prices will not correct too much as long as people can hold.      

 

If someone is buying for own stay, there is no reason why they should postpone especially if they are aiming for flats with good attributes.  But if that person is buying HDB for investment, then he may wish to wait.  Not because the prices will go down but more of the current risk reward given the recent boom.

If you find the resale price high now, i would think the price be higher in the next few years. Buying a house is always good to buy early than buy later.

 

So if buy old HDB, it is considering good attributes or bad attributes?

[lonelyglobe]

7 hours ago, Guest Guest said:

 

Please don't mislead.  Going by your argument, 2021-2023 would have been bad times to buy.  If a person who is only interested in buying for own stay waited until 2023, the prices would have increased 50-100K throughout.  It is very obvious from the chart that the resale prices for the last 20 years supports the idea that prices only increase in the long term.   The correction is minimal - corrections itself is tied to loan issues, so you can be sure govt will support the market.  HDB loan is a kind of support.  

 

There are typically 2 kinds of HDB is general - good attributes (e.g. near MRT, amenities) and bad attributes (e.g. far from MRT).  The prices of flats with good attributes can maintain its prices easily.  The problem with the current market is even new 3-room flats with bad attributes can go for 450K easily in resale.  Flats with bad attributes are the ones that suffer from price corrections, but prices will not correct too much as long as people can hold.      

 

If someone is buying for own stay, there is no reason why they should postpone especially if they are aiming for flats with good attributes.  But if that person is buying HDB for investment, then he may wish to wait.  Not because the prices will go down but more of the current risk reward given the recent boom.

Agent spotted.

 

[Guest Lesson 1]

On 6/24/2023 at 10:18 PM, thickhead79 said:

As long as 35 can buy

Don't confuse 2-rm BTO (99 years lease for single) with 2-rm BTO FLEXI (Short lease for 55yo and above senior). 

 

2-rm BTO for single can only opt for non-matured town.   Can apply for Loan

 

2-rm BTO flexi for Senior can apply in matured town (priority given to those who stayed with 2km of their existing flat.   Cannot take loan, must pay in full. 

[Guest gods]

On 6/24/2023 at 1:48 PM, Guest guest said:

Only if you buy now, cannot earn. Or you look for 3 rm around 400k or below.

u cant earn any cash as you swap for bigger unit mah, now you can have passive income from rental of that additional 1 bedroom, $800-1000 every month

[thickhead79]

大巴窑一个五房式私人组屋单位以142万元转手，打破全国五房式组屋转售价纪录。

TPY 5 room HDB sell 1.42million.

 

yet another record

[single42]

https://mustsharenews.com/bishan-hdb-sold-million/#:~:text=S%241.4 million flat is,across three separate residential blocks.

 

By Tammi Tan - 28 Jun 2023, 4:19 pm

 

Bishan 5-Room HDB Sold For S$1.4 Million, Breaks Record For Highest Resale Price In Area

 

 

In June, a five-room flat in Bishan changed hands for S$1.4 million, breaking the record for the highest resale price in the area.

 

The unit sits on a high floor and has a remaining lease of 87 years and three months.

S$1.4 million flat is near Bishan & Marymount MRT stations

According to a report on Data.gov.sg, the address of the five-room HDB flat is 273A Bishan Street 24.

This is the location of Natura Loft, a Design, Build and Sell Scheme (DBSS) development with 480 units across three separate residential blocks.

 

The S$1.4 million unit was sold this month and is located between the 28th and 30th floors.

It has a floor area of 120 sqm and has 87 years and three months left on its lease.

 

SRX notes that the development is popular due to its central location — near Bishan and Marymount MRT stations — and panoramic views, especially from the higher floors.

 

It’s also close to educational institutions like Teck Ghee Primary School, Catholic High School, and Townsville Primary School.

[Guest Guest]

14 hours ago, thickhead79 said:

大巴窑一个五房式私人组屋单位以142万元转手，打破全国五房式组屋转售价纪录。

TPY 5 room HDB sell 1.42million.

 

yet another record

So many cash rich people buying HDB.

[Guest Guest]

On 3/12/2023 at 6:54 PM, lonelyglobe said:

Just MOP also got ghost and more terrible is called "吸血鬼".

 

2.room buy at 160k selling at 320k and 3 room buy 300k can sell 500k.

 

On 6/29/2023 at 6:02 PM, Guest Logic said:

I am of the same view that lonelyglobe's views are not very rational. Buying and selling flats is not like buying and selling stocks and shares where you try to time the market.

 

Not sure why he is getting upset with housing price increase and losing his rationality and starting scolding sellers.

Don't you get it? Currently he is hunting for a cheap resale HDB to enjoy both rental income and capital appreciation just like what his friends are enjoying right now but the differences are that his friends made the bold moved and took the plunged many years ago and he did not. 

 

Buying real estate requires detail planning especially if you are buying as a single. During my younger days, I did enjoy going to sauna/clubs very frequently and every few months I would make use of our public holiday and jet off to Bangkok/Jakarta for a short break. Each overseas trip would easily cost me over $1500 and I did that 5 times a year.  When I hit 28, I told myself this type of lifestyle cannot continued as I am 7 years away from 35. I must preserved plenty of cash to make my dream of owning a humble resale HDB come true. 

 

My lifestyle hit a turning point. I reduced my sauna/clubs visit to 20% of what it used to be. Started jogging to work off my excess sexual energy (Apparently it did not work). Only 1 vacation per calendar year. I took all my overseas business trip (fully paid by company) as holiday. No more Michelin star restaurant dining with friends. Meals restricted to food court/ coffee shop or McDonalds. Continued driving my 2 years old Honda running on low octane petrol. Discretionary spending were almost ZERO. Being super frugal was the name of the game.

 

During the last price correction, I took the plunged when I was 36 (With single grant declined). WIth the LUP done, my unit now have direct lift access. Today my unit is double my original priced and with 20+ years for LBS when I hit 95.  I also have an extra room for rental if I need to supplement my income now or in the future. I am only 330m away from the ITH so selling it for a very high price and downgrade to a 2 Rm Flexi (99 years) will be my future plan. 

 

 

 

[thickhead79]

4 hours ago, Guest Guest said:

So many cash rich people buying HDB.

nvn quote how much is the COV

 

understand many PR buyer

 

next time leave Spore can just sell and collect cash

 

but for us Sporeans we continue to hold the house toill we dead

[lonelyglobe]

3 hours ago, Guest Guest said:

 

Don't you get it?

Oh boy....i can only say u got me wrong and terribly wrong but what u did right was change your lifestyle which may inspire others. 

[lonelyglobe]

2 hours ago, thickhead79 said:

nvn quote how much is the COV

 

understand many PR buyer

 

next time leave Spore can just sell and collect cash

 

but for us Sporeans we continue to hold the house toill we dead

Absolutely, that's what I suspect too, PR trying to make money out of our HDB. I suggest HDB should provide details for all these million dollars transaction so we can get a better picture and clarify any misunderstanding, just like they investigate the 2 bungalow minister.

[lonelyglobe]

On 6/29/2023 at 6:02 PM, Guest Logic said:

Not sure why he is getting upset with housing price increase and losing his rationality and starting scolding sellers.

Not sure if u will be upset when prices start to fall and losing your rationality and start scolding buyer? 

[Guest guest]

6 hours ago, Guest Guest said:

 

Don't you get it? Currently he is hunting for a cheap resale HDB to enjoy both rental income and capital appreciation just like what his friends are enjoying right now but the differences are that his friends made the bold moved and took the plunged many years ago and he did not. 

 

Buying real estate requires detail planning especially if you are buying as a single. During my younger days, I did enjoy going to sauna/clubs very frequently and every few months I would make use of our public holiday and jet off to Bangkok/Jakarta for a short break. Each overseas trip would easily cost me over $1500 and I did that 5 times a year.  When I hit 28, I told myself this type of lifestyle cannot continued as I am 7 years away from 35. I must preserved plenty of cash to make my dream of owning a humble resale HDB come true. 

 

My lifestyle hit a turning point. I reduced my sauna/clubs visit to 20% of what it used to be. Started jogging to work off my excess sexual energy (Apparently it did not work). Only 1 vacation per calendar year. I took all my overseas business trip (fully paid by company) as holiday. No more Michelin star restaurant dining with friends. Meals restricted to food court/ coffee shop or McDonalds. Continued driving my 2 years old Honda running on low octane petrol. Discretionary spending were almost ZERO. Being super frugal was the name of the game.

 

During the last price correction, I took the plunged when I was 36 (With single grant declined). WIth the LUP done, my unit now have direct lift access. Today my unit is double my original priced and with 20+ years for LBS when I hit 95.  I also have an extra room for rental if I need to supplement my income now or in the future. I am only 330m away from the ITH so selling it for a very high price and downgrade to a 2 Rm Flexi (99 years) will be my future plan. 

 

 

 

Good for you, not eveyone would be lucky. By the way, what is ITH?

[Guest guest]

6 hours ago, thickhead79 said:

nvn quote how much is the COV

 

understand many PR buyer

 

next time leave Spore can just sell and collect cash

 

but for us Sporeans we continue to hold the house toill we dead

The COV for these millions HDB would be super high. This is why these buyers really cash rich.

[Guest guest]

3 hours ago, lonelyglobe said:

Absolutely, that's what I suspect too, PR trying to make money out of our HDB. I suggest HDB should provide details for all these million dollars transaction so we can get a better picture and clarify any misunderstanding, just like they investigate the 2 bungalow minister.

Don't think HDB would provide details as they would tell you it is confidential. Also they would say willing buyer willing seller. So no one force these buyer and seller in million dollars transaction. 😅

[Guest HDB]

31 minutes ago, Guest guest said:

Good for you, not eveyone would be lucky. By the way, what is ITH?

Integrated Transport Hub

[keyboard]

4 hours ago, lonelyglobe said:

Absolutely, that's what I suspect too, PR trying to make money out of our HDB. I suggest HDB should provide details for all these million dollars transaction so we can get a better picture and clarify any misunderstanding, just like they investigate the 2 bungalow minister.

If you're PR, don't tell me you won't do it? It's more of a whether the PR can afford the downpayment or not, never about should I or should I not. Paying rent vs paying rent that I can get back, the ROI is still positive even selling at a loss.

[lonelyglobe]

24 minutes ago, keyboard said:

If you're PR, don't tell me you won't do it? 

I m not PR,  are u? 

[thickhead79]

1 hour ago, keyboard said:

If you're PR, don't tell me you won't do it? It's more of a whether the PR can afford the downpayment or not, never about should I or should I not. Paying rent vs paying rent that I can get back, the ROI is still positive even selling at a loss.

PR must wait for 3 y before can buy HDB 

 

still stand?

[keyboard]

https://www.straitstimes.com/singapore/three-year-waiting-period-for-prs-to-buy-resale-flats

Yah, this 3 year thing started in Sept 2013 - not sure how many PRs there are in the market who are eligible today.

 

"There were 51,000 Housing Board flats fully owned by permanent residents as of end June, representing 6 per cent of all HDB flats, said Mr Khaw in a written parliamentary reply this month."

 

It's not even a loophole. If i'm a PR, won't it make more sense to buy somewhere (even though the price is higher but location is convenient for work/school etc) rather than paying rent, say 3k for a 3rm outskirt and get back nothing. Of course, don't buy those 50 years lease where you get back nothing. 20 years of rent would be 720k, how to depreciate a 80 years lease to lose that much. Wouldn't you jump on the boat if you can?

[Startup]

HDB Q2 resale prices up 1.4%, shows moderation in rate of increase after cooling measures

 

https://www.todayonline.com/singapore/hdb-q2-resale-prices-14-shows-moderation-rate-increase-after-cooling-measures-2203781

 

Doesn't seem like prices are coming down anytime soon. 

[Guest guest]

40 minutes ago, Startup said:

HDB Q2 resale prices up 1.4%, shows moderation in rate of increase after cooling measures

 

https://www.todayonline.com/singapore/hdb-q2-resale-prices-14-shows-moderation-rate-increase-after-cooling-measures-2203781

 

Doesn't seem like prices are coming down anytime soon. 

Like that how to buy HDB resale?

[thickhead79]

1 hour ago, Startup said:

HDB Q2 resale prices up 1.4%, shows moderation in rate of increase after cooling measures

 

https://www.todayonline.com/singapore/hdb-q2-resale-prices-14-shows-moderation-rate-increase-after-cooling-measures-2203781

 

Doesn't seem like prices are coming down anytime soon. 

no reason to go down

 

yr salary will go down or not