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

[Guest guest]

12 hours ago, Guest Hot and Sweaty said:

The large living room window for BTO flat is a "NO NO" for me.  I need to wear sunscreen throughout the day due to sun radiation during the day and turn out like a hot oven.   Whereas in old HDB I don't have to worry about putting on sunscreen and still enjoy the same brightness during day time.  A friend of mine stay on the 24th storey of BTO, super hot throughout the living space.  Must keep drinking water and install aircon.  

You mean new BTO is hot due to large window and also super high floor?

 

Staying in old HDB window is not big but the lease decay is a reality.

[Sweetie Pie]

30 minutes ago, Guest guest said:

You mean new BTO is hot due to large window and also super high floor?

 

i am going to buy my friend a pair of sun glasses, as house warming gift, once he got his BTO keys. 

[Guest guest]

1 minute ago, Sweetie Pie said:

i am going to buy my friend a pair of sun glasses, as house warming gift, once he got his BTO keys. 

  

 

But your friend can draw the curtain.

[Guest Light Sources]

17 hours ago, Guest guest said:

  

 

But your friend can draw the curtain.

It becomes very dark once curtain is drawn unless he leaves some gap.

[Guest HDB]

Can singles buy a second 99-year lease 2-room HDB BTO Flexi Flat?

[Sweetie Pie]

18 minutes ago, Guest HDB said:

Can singles buy a second 99-year lease 2-room HDB BTO Flexi Flat?

No Singaporean is allowed to own 2 HDB flats. Unless you mean something else.  I don't understand why it is so difficult not to have basic knowledge of HDB policies. 

[Guest HDB]

30 minutes ago, Sweetie Pie said:

No Singaporean is allowed to own 2 HDB flats. Unless you mean something else.  I don't understand why it is so difficult not to have basic knowledge of HDB policies. 

Oops, perhaps I didn't put my question across clearly. I bought a 2-room HDB BTO flat more than 5 years ago. Am planning to move because I have a trouble-making next-door neighbour. I am just wondering whether I can apply another time. If ok, I will apply... and if successful, I will sell off my present flat once keys are issued.

[Guest Me think]

10 minutes ago, Guest HDB said:

Oops, perhaps I didn't put my question across clearly. I bought a 2-room HDB BTO flat more than 5 years ago. Am planning to move because I have a trouble-making next-door neighbour. I am just wondering whether I can apply another time. If ok, I will apply... and if successful, I will sell off my present flat once keys are issued.

If you have already received grant of some sort for you current flat, then you are disqualified to buy another new flat directly from HDB.  You can only buy resale 2-room BTO,  I don't think you will lose out because you sell and buy around the same price - equivalent to one-for-one exchange from the open market. 

[Guest HDB]

1 minute ago, Guest Me think said:

If you have already received grant of some sort for you current flat, then you are disqualified to buy another new flat directly from HDB.  You can only buy resale 2-room BTO,  I don't think you will lose out because you sell and buy around the same price - equivalent to one-for-one exchange from the open market. 

🙏

[keyboard]

They do sell those UV filters that you can easily paste yourself with some patience.

 

20 hours ago, Guest HDB said:

Oops, perhaps I didn't put my question across clearly. I bought a 2-room HDB BTO flat more than 5 years ago. Am planning to move because I have a trouble-making next-door neighbour. I am just wondering whether I can apply another time. If ok, I will apply... and if successful, I will sell off my present flat once keys are issued.

Any chance you live on lower floors and at cheaper estate? Just wondering if the saying, rich does not buy you class, but poor definitely got crass. Is it those 2-rm in the middle of the 3/4-rm or at the side at corner type?

[Guest ABC]

On 7/31/2023 at 9:11 AM, sayfirst said:

https://www.straitstimes.com/singapore/more-equitable-access-to-housing-types-for-singles-being-studied-desmond-lee
 

“Other housing types under consideration include co-living, or housing with shared communal facilities.”

 

“Under the rent-to-own model, renters would pay a non-refundable option fee upfront for the option to purchase the property subsequently. Part of their monthly rental could go towards paying for the property, which will help lower the purchase price when it is time to exercise the option to purchase, the Ministry of National Development said.”

 

My two cents:
Under the rent-to-own model, though it offers renters a chance to ‘try out’ staying at a particular location, renters may very well end up paying more for the flat in the long run, depending on whether the agreed purchase price is higher than today’s market value (to factor in an increase in resale housing prices over time), or at the time of lease expiry. 
 

The younger generation is more open to renting in recent years and the flexibility of a rent-to-own model (if implemented) would be welcome. 

 

I think it is all about the narrative to paper over affordability problems.  By and large, own upfront is better than rent no matter how the media tries to spin it.  You can always sell later.  Bigger flat is better than smaller flat.  Since the 2000, HDB flat started to become unaffordable.  That is why flats get smaller and smaller to control the quantum.  How much smaller can HDB go?  Looks like we are not going towards HK just yet.

 

Rent-to-own model is as good as saying low downpayment.  I am sure we all know what low downpayment means.  More affordable upfront or opportunity to increase the quantum?  It is all about the narrative.  Probably because market is running out of people who can downpay a huge amount upfront.  

[Guest HDB]

2 hours ago, keyboard said:

They do sell those UV filters that you can easily paste yourself with some patience.

 

Any chance you live on lower floors and at cheaper estate? Just wondering if the saying, rich does not buy you class, but poor definitely got crass. Is it those 2-rm in the middle of the 3/4-rm or at the side at corner type?

Low floor, corner unit @ Bukit Batok. Tbh, I love place as it is very convenient with plenty of amenities nearby and just 10 minutes walk from the MRT Station. If it's not for my trouble-making next-door neighbour, I wouldn't be thinking of moving and 2 of my other neighbours are already looking for buyers for their units too.

[keyboard]

14 hours ago, Guest HDB said:

Low floor, corner unit @ Bukit Batok. Tbh, I love place as it is very convenient with plenty of amenities nearby and just 10 minutes walk from the MRT Station. If it's not for my trouble-making next-door neighbour, I wouldn't be thinking of moving and 2 of my other neighbours are already looking for buyers for their units too.

OH. I'm living opp the church. I initially thought that block were rental flats. Pretty good location if your working direction is towards MRT but yea, this area is pretty low ses.

[sayfirst]

17 hours ago, Guest ABC said:

 

I think it is all about the narrative to paper over affordability problems.  By and large, own upfront is better than rent no matter how the media tries to spin it.  You can always sell later.  Bigger flat is better than smaller flat.  Since the 2000, HDB flat started to become unaffordable.  That is why flats get smaller and smaller to control the quantum.  How much smaller can HDB go?  Looks like we are not going towards HK just yet.

 

Rent-to-own model is as good as saying low downpayment.  I am sure we all know what low downpayment means.  More affordable upfront or opportunity to increase the quantum?  It is all about the narrative.  Probably because market is running out of people who can downpay a huge amount upfront.  

Personally I wished that when I was younger I focused more on working hard so that I could probably afford my own place now.

 

But I guess these kind of teachings and

'life tips' are typically only passed down from the older generation to the next, which depends on the older generation being aware of it to begin with. 

[Guest HDB]

59 minutes ago, keyboard said:

OH. I'm living opp the church. I initially thought that block were rental flats. Pretty good location if your working direction is towards MRT but yea, this area is pretty low ses.

👍 I used to live in Hougang for more than 30 years before moving to Bukit Batok. Tbh, I didn't expect the place to be so convenient. It is also very suitable for me as there is a nearby gym + not far from the stadium & many nature parks that I visit regularly.

[keyboard]

1 hour ago, Guest HDB said:

👍 I used to live in Hougang for more than 30 years before moving to Bukit Batok. Tbh, I didn't expect the place to be so convenient. It is also very suitable for me as there is a nearby gym + not far from the stadium & many nature parks that I visit regularly.

Those who live on that block of 2-rm is lucky indeed, the surrounding are old flats which resale would cost a bomb. Who knew they would dump one block at such a small space (almost unheard of).

 

Very true for those who exercise - that stretch all the way into hillview can still see green and always filled with runners. The other place I could think of would be bishan as it's equivalent.

The Bukit Timah Nature Reserve but all condos there.

[keyboard]

2 hours ago, sayfirst said:

Personally I wished that when I was younger I focused more on working hard so that I could probably afford my own place now.

 

But I guess these kind of teachings and

'life tips' are typically only passed down from the older generation to the next, which depends on the older generation being aware of it to begin with. 

Unless you're doing freelance/commission based work - if not, how would you be able to chase and maintain. E.g when i was looking at 3-rm resale before covid, found one but was short of 100k (which takes me say 2 years to earn), then 2 years later, the same block rose 1-200k more, i could borrow more from the bank, but my industry does not guarantee me a job in the next 10 years without losing to younger, cheaper blood.

 

Do i really want to slog for the next 20+ years to rebuild my retirement (zero after paying flat) or not get a flat and retire immediately? I'm (super/lucky/duper) glad i didn't commit to that flat, because it was a close to 50 yrs flat, which means i die die have to keep working as selling won't get me much back.

[lonelyglobe]

1 hour ago, keyboard said:

Very true for those who exercise - that stretch all the way into hillview can still see green and always filled with runners. The other place I could think of would be bishan as it's equivalent.

The Bukit Timah Nature Reserve but all condos there.

Telok blangah...got safra,  got mt faber, a lot of greenery there.... 

[lonelyglobe]

5 hours ago, sayfirst said:

Personally I wished that when I was younger I focused more on working hard so that I could probably afford my own place now.

 

2 hours ago, keyboard said:

Unless you're doing freelance/commission based work - if not, how would you be able to chase and maintain. E.g when i was looking at 3-rm resale before covid, found one but was short of 100k (which takes me say 2 years to earn), then 2 years later, the same block rose 1-200k more, i could borrow more from the bank, but my industry does not guarantee me a job in the next 10 years without losing to younger, cheaper blood.

 

Do i really want to slog for the next 20+ years to rebuild my retirement (zero after paying flat) or not get a flat and retire immediately? I'm (super/lucky/duper) glad i didn't commit to that flat, because it was a close to 50 yrs flat, which means i die die have to keep working as selling won't get me much back.

Look around and see if got single friend interested to buy under joint scheme, should be able to pay everything with combined CPF,  of course need to be realistic with the amount both of you had.

 

50 year stay 5 year left 45 year, low resale value, can only wait for vers when it hit 70 years. But then not sure if every blk will get a chance and even have,  need to get 75% resident approval which may not be easy due to physical and emotional reason. They may have stay more than 20-30 years and dont want to leave. Even if successful,  what happen they paid u 50k and u need to buy a new flat at 500k 🤣

Edited August 4, 2023 by lonelyglobe

[Guest Guest]

For those who are priced out of the HDB market this will be the next best alternatives. 

 

HDB to pilot new hostel-like public rental model for singles

[Sweetie Pie]

37 minutes ago, Guest Guest said:

For those who are priced out of the HDB market this will be the next best alternatives. 

 

HDB to pilot new hostel-like public rental model for singles

Not suitable.  Shared kitchen, shared laundry and shared Toilet. Almost prison-like with little space and uncomfortable. No sense of belongings at all.   Unless this can be used for nursing home purposes or people who needs community care or love socialising when they are old can stay in this type of flat. 

 

On the other hand, If you guys can at least afford a 2-room BTO, by all means slog out some savings to acquire one, even if you have to take some mortgage loan or if it is not in the popular locations. At least you are much better living in your own personal space and with all the facilities to yourself.  

Edited August 4, 2023 by Sweetie Pie

[lonelyglobe]

30 minutes ago, Guest Guest said:

For those who are priced out of the HDB market this will be the next best alternatives. 

 

HDB to pilot new hostel-like public rental model for singles

The reason i can think of why they come up with this is that they dont want to see people sleeping on the street which is a chargeable offence by the way. Imagine elderly sleeping along MBS and it get broadcast all over the world. 

 

I would say minimum would be a 40 year lease BTO for senior at 55. 

[Sweetie Pie]

2 minutes ago, lonelyglobe said:

The reason i can think of why they come up with this is that they dont want to see people sleeping on the street which is a chargeable offence by the way. Imagine elderly sleeping along MBS and it get broadcast all over the world. 

 

I would say minimum would be a 40 year lease BTO for senior at 55. 

I think he meant people below 55yo cannot afford HDB. 

[keyboard]

1 hour ago, lonelyglobe said:

Telok blangah...got safra,  got mt faber, a lot of greenery there.... 

expensive lah..... bukit batok (that particular block) was the "cheap cheap" at that time, sure win lot with immediate appreciation in non-mature estate surrounded with mature facilities (within walking distance already have 4 GP, 2 TCM, 3 major supermarket, 1 wet market, 5 coffeshop on top of the small shops). Super good for flipping.

 

1 hour ago, lonelyglobe said:

 

Look around and see if got single friend interested to buy under joint scheme, should be able to pay everything with combined CPF,  of course need to be realistic with the amount both of you had.

 

50 year stay 5 year left 45 year, low resale value, can only wait for vers when it hit 70 years. But then not sure if every blk will get a chance and even have,  need to get 75% resident approval which may not be easy due to physical and emotional reason. They may have stay more than 20-30 years and dont want to leave. Even if successful,  what happen they paid u 50k and u need to buy a new flat at 500k 🤣

I really think that singles (Joint Singles) that cannot afford BTO 2-rm non-mature (eligibility to buy) should not be thinking about BTO if 100k is an issue. 2 strangers living in 46 sqm will be a torture. Neither should such options be available in the first place, you don't even have space to place a proper laundry rack.

The one i was looking at already had their HIP? that built an extra utility room already, doubt they will SERS.

 

=====

The "demographics" are already assigned rental joint tenancy but those environments are complicated, so they also still end up sleeping on the streets as it's better than living with siao langs in the same block. We all heard of the occasion "dispute" in some estates but go to those flats and everyday is a 7th month getai festival.

[lonelyglobe]

2 minutes ago, keyboard said:

 

 

I really think that singles (Joint Singles) that cannot afford BTO 2-rm non-mature (eligibility to buy) should not be thinking about BTO if 100k is an issue. 2 strangers living in 46 sqm will be a torture. Neither should such options be available in the first place, you don't even have space to place a proper laundry rack.

The one i was looking at already had their HIP? that built an extra utility room already, doubt they will SERS.

Miscommunication, two single is to buy a 3 room or 4 room resale. 2 room if u have been working should not be too much a problem. 

[keyboard]

1 minute ago, lonelyglobe said:

Miscommunication, two single is to buy a 3 room or 4 room resale. 2 room if u have been working should not be too much a problem. 

But also the point exist mah, buy new resale at good location - two person need 2-300k each. Buy old but lease decay, cant sell. Then make things worse, one want to sell, one wants to stay. Divorce rate already at 30%, what more strangers.

 

It's easier in the previous generation, everyone earn 1-2k, find another 1-2k is easier than finding 3-5k extra a month. You can lend people $500. Who will lend you 1-2k a month if you fall behind on schedule. Then tell us we are not hardworking enough.

[Guest Guest]

When it comes to big ticket items like real estate or car, I will never shared because I can afford it on my own to avoid problems that may crop up in the future. I only have to answer to myself should I made a bad decision. 

 

The only thing that I would share is Haidilao Hot Pot with strict hygiene conditions observed.

[thickhead79]

🏢 A 2-room Tiong Bahru flat at Moh Guan Terrace has sold for S$585,000.

[Guest HDB]

1 hour ago, thickhead79 said:

🏢 A 2-room Tiong Bahru flat at Moh Guan Terrace has sold for S$585,000.

😮 https://www.99.co/singapore/insider/2-room-tiong-bahru-flat-48-5-year-lease-left-sold-s585k/

[lonelyglobe]

2 hours ago, Guest HDB said:

😮 https://www.99.co/singapore/insider/2-room-tiong-bahru-flat-48-5-year-lease-left-sold-s585k/

Probably a old man in his 60s downgrade after selling a million dollar HDB or private property. Plenty of cash on hand and 48 years lease should be more than enough. Dont think anyone in his 30s or 40s would make such a purchase. 

But i think generally tiong bahru area is a bit over rated and over priced. 

Edited August 4, 2023 by lonelyglobe

[keyboard]

On 7/17/2023 at 10:28 PM, Guest guest said:

Sorry, how to read the IRA master plan? What it means by all the numbers on the map?

  

12 hours ago, Guest HDB said:

😮 https://www.99.co/singapore/insider/2-room-tiong-bahru-flat-48-5-year-lease-left-sold-s585k/

 

Guest guest - read this article, it tells you what the plot ratio mean.

Although it's stated for HIP/NRP, but if not enough people vote yes to it, likely it will go into SERS (as explained in the article).

 

For those who did not read the article, this is a 67 sqm 2-rm flat (new 3-rm flats are 69 sqm). Technically, it is not really a 2-rm flat (downgrade) by today's standards. It's also betting on a SERS and gaining capital appreciation or no rental loss (for those PRs). Downside is the huge pockets and high salary you need depending on your age and especially those who cannot afford a 1m HDB to start with. Quite a golden egg site.

[Guest guest]

20 hours ago, lonelyglobe said:

Probably a old man in his 60s downgrade after selling a million dollar HDB or private property. Plenty of cash on hand and 48 years lease should be more than enough. Dont think anyone in his 30s or 40s would make such a purchase. 

But i think generally tiong bahru area is a bit over rated and over priced. 

Not only tiong baru area is over rated and over priced. The stretch of HDB starts from clementi until tiong baru area, all the flats are over rated and over priced.

[Guest HDB]

9 hours ago, Guest guest said:

Not only tiong baru area is over rated and over priced. The stretch of HDB starts from clementi until tiong baru area, all the flats are over rated and over priced.

Clementi is a good location and very popular mainly because there're many good schools & tertiary institutions situated close by

[keyboard]

Guest HDB, see this map, quite interesting how the old/new flats are colour coded.

https://www.teoalida.com/singapore/hdbmap/

 

Since MOP, that block didn't have any transaction. The other way if you really like that place is to wait for your upper floor neighbours to sell and then buy over. I had neighbour moved within our same project to higher floors then 5 years later moved to condo.

https://services2.hdb.gov.sg/webapp/BB33RTIS/BB33SSearchWidget

[Guest HDB]

43 minutes ago, keyboard said:

Guest HDB, see this map, quite interesting how the old/new flats are colour coded.

https://www.teoalida.com/singapore/hdbmap/

 

Since MOP, that block didn't have any transaction. The other way if you really like that place is to wait for your upper floor neighbours to sell and then buy over. I had neighbour moved within our same project to higher floors then 5 years later moved to condo.

https://services2.hdb.gov.sg/webapp/BB33RTIS/BB33SSearchWidget

Thank you. I can't afford to buy from the resale market because I am unable to take out a loan. I am a retiree, all my CPF moneys have already been automatically transferred to my Retirement A/c and I also do not have enough cash unless I sell my present flat first. My best option is to apply for a short lease HDB BTO for seniors.

 

Btw, do you know of a reliable spectacle shop In Bukit Batok as I need a new pair of my reading glass?

[keyboard]

1 hour ago, Guest HDB said:

Thank you. I can't afford to buy from the resale market because I am unable to take out a loan. I am a retiree, all my CPF moneys have already been automatically transferred to my Retirement A/c and I also do not have enough cash unless I sell my present flat first. My best option is to apply for a short lease HDB BTO for seniors.

 

Btw, do you know of a reliable spectacle shop In Bukit Batok as I need a new pair of my reading glass?

Don't know how to define reliable for spectacle shop. If you want cheap (there's always those bigger chain brands), i usually just get mine from the uncle at the two coffeeshop there (main road towards CC) that one.

 

There's another one quite old (half shop type) owned by old couple if you feel more geared towards that. I think along itea side. If not, west mall has one, if not, Jurong East is a hop away with IMM (a bus away) also.

 

Did you buy yours under single or senior scheme? There's an option to get a new BTO 2-rm if you havent used up your senior chance after age 55. Only thing is you need to find a way to upfront pay HDB before you sell off the old flat. But choose wisely the location (think senior can get mature estate), there was one few rounds back which is at DTL Tampines West? One stop away from Tampines (which has 3 major shopping center), daily 3 meals just need to take MRT for all your needs and far enough to be isolated.

 

But short term lease is not worth it. It's not linear, the front part of the lease is more expensive.

Edited August 6, 2023 by keyboard

[Guest HDB]

1 hour ago, keyboard said:

Don't know how to define reliable for spectacle shop. If you want cheap (there's always those bigger chain brands), i usually just get mine from the uncle at the two coffeeshop there (main road towards CC) that one.

 

There's another one quite old (half shop type) owned by old couple if you feel more geared towards that. I think along itea side. If not, west mall has one, if not, Jurong East is a hop away with IMM (a bus away) also.

 

Did you buy yours under single or senior scheme? There's an option to get a new BTO 2-rm if you havent used up your senior chance after age 55. Only thing is you need to find a way to upfront pay HDB before you sell off the old flat. But choose wisely the location (think senior can get mature estate), there was one few rounds back which is at DTL Tampines West? One stop away from Tampines (which has 3 major shopping center), daily 3 meals just need to take MRT for all your needs and far enough to be isolated.

 

But short term lease is not worth it. It's not linear, the front part of the lease is more expensive.

🙏 I will go to the first shop.

 

My present flat was purchased under Single Schme. Since I have already taken the CPF Housing Grant, I can only buy a short lease HDB BTO flat. Besides mature estate, seniors can also buy a short lease PLH HDB BTO flat.

 

I have learned a lot from this thread indeed over the last 2-3 months, especially information that cannot be found on HDB website and Google 🙏🙏🙏

[keyboard]

15 minutes ago, Guest HDB said:

🙏 I will go to the first shop.

 

My present flat was purchased under Single Schme. Since I have already taken the CPF Housing Grant, I can only buy a short lease HDB BTO flat. Besides mature estate, seniors can also buy a short lease PLH HDB BTO flat.

 

I have learned a lot from this thread indeed over the last 2-3 months, especially information that cannot be found on HDB website and Google 🙏🙏🙏

I think i saw some appointment type of number to call for that shop these days - not sure if it's due to uncle away for lunch or that's his business style now. Let me know - i also been procrastinating to get another pair of glasses with my recently developed lao hua (not sure if it gets worse yearly for a few years).

 

If you can qualify for mature, senior, even with short lease PLH BTO. Look out for their quarterly offerings from HDB - especially when you're already a retiree and does not need to commute for work. A lot of places are good for those - there was one plot two bus stops away from tiong bahru MRT and opposite it is a dog park, on top of a hill. If you can afford to upgrade, choose those more expensive projects, hopefully won't get horrible neighbours, but downside is that due to short lease, you cant make a profit out of that to downgrade at a later stage.

 

All information is from HDB/google, just that it's all over the place and we all took a lot of time to get to where we are at. Then forget or when things keep changing.

[Guest guest]

4 hours ago, Guest HDB said:

Clementi is a good location and very popular mainly because there're many good schools & tertiary institutions situated close by

Good schools & tertiary institutions close by is only beneficial if you are young families with kids. If you are buying as a single, not much use.

[keyboard]

3 minutes ago, Guest guest said:

Good schools & tertiary institutions close by is only beneficial if you are young families with kids. If you are buying as a single, not much use.

You forget that due to its popularity, your PSF $$ will go up along with them. If your flat outlive you, you get more $$ to pass down to next generation. With good schools around, you get better amenities/transport/people too. Not to say there's no downsides though.

[Guest HDB]

54 minutes ago, keyboard said:

I think i saw some appointment type of number to call for that shop these days - not sure if it's due to uncle away for lunch or that's his business style now. Let me know - i also been procrastinating to get another pair of glasses with my recently developed lao hua (not sure if it gets worse yearly for a few years).

Just to be certain, is the shop "Vision Pro"?

[Guest Guest]

Reminds me of Apple's newly launched devices. 

[lonelyglobe]

1 hour ago, Guest guest said:

Good schools & tertiary institutions close by is only beneficial if you are young families with kids. If you are buying as a single, not much use.

The rental can be good,  there is no short of oversea student and lecturer from renting. Eventually can sell to those families who need to stay near a particular school,  a niche market meaning a niche profit 😊

[keyboard]

50 minutes ago, Guest HDB said:

Just to be certain, is the shop "Vision Pro"?

Eyenet. You might be living further away than i assumed? You know, do a google search for spectacles shop. You can read the review and choose the one closer to you. There's two with good reviews and 1 not so good. Sometimes, buy HDB also can just do review to see what amenities are around so next time wont have so much problem.

[Guest HDB]

22 minutes ago, keyboard said:

Eyenet. You might be living further away than i assumed? You know, do a google search for spectacles shop. You can read the review and choose the one closer to you. There's two with good reviews and 1 not so good. Sometimes, buy HDB also can just do review to see what amenities are around so next time wont have so much problem.

Think I'll just go to Eyelet which is also not far from my place. Many thanks.

[Guest Guest]

Anyone silly enough to accept the single housing grant to buy resale HDB are depriving himself of future profit that range from $200k-$350k if he makes another tactical move with the 2 room flexi BTO (99 years) scheme which are reserved for Singapore citizen. Anyone enjoyed any benefit or grant earlier can apply for 2 Room flexi BTO (launched 2013) on maximum 30 years lease.

 

Apparently someone got stuck in the system and he wrote to the Straits Times's forum page and appealed to HDB to allow him to return the Single Housing Grant received to enable him to apply for the 99 years lease type. 

 

 

 

 

 

 

 

 

 

[Guest Man with Foresight]

20 hours ago, Guest Guest said:

Anyone silly enough to accept the single housing grant to buy resale HDB are depriving himself of future profit that range from $200k-$350k if he makes another tactical move with the 2 room flexi BTO (99 years) scheme

 

Depends on which year you bought your house. Thus not everyone is silly to apply for single housing grant.  If you bought your 3-room in the 1980s, you pay only $20K.  If you bought your 3 room resale in the 1990s,  you pay less than $100K.  if you bought your 3-room resale in the early 2000s (during world financial crisis), you pay less than $180K and we are talking about matured estates.  Thereafter, you rent your house for 10 years to cover the principal purchased sum you've paid, the house is technically considered free gift from the Govt. 

 

Along the above scenarios, and now fast foward 2023,  you are not losing out financially.

 

Let's say, you didn't take grant, and be allowed to  buy 2-room BTO (99 years lease).  The price difference between your 3-room resale and 2-room new BTO is a net profit which may be locked up in CPF account to meet your minimum retirement (depending on your age at time of sale). The hard cash you get may be minimum.   Furthermore. consider the catch of 2-room new BTO:  you now live in much smaller space, you can't rent it out, and you are not enjoying the charm of matured estate.   Is that what you want?

 

If you are wealthy, the above shouldn't even be considered a all. 

 

 

If you are financially challenge,  the best option to monetise your HDB is NOT to sell one and then buy one, but to pay lowest sum possible, for 2-room BTO (shorter lease) and still enjoy a brand new house like those 99 years lease 2-room BTO.  Then, you get to see hard cash in your bank and not worry about not being able to bring your new HDB into the grave with you when you gone.   If you still have some remaining short term lease then, HDB will refund your next of kin.

 

 

 

 

 

 

[Guest HDB]

On 8/6/2023 at 2:11 PM, keyboard said:

I think i saw some appointment type of number to call for that shop these days - not sure if it's due to uncle away for lunch or that's his business style now. Let me know - i also been procrastinating to get another pair of glasses with my recently developed lao hua (not sure if it gets worse yearly for a few years).

Fyi, according to the guy who solely runs Eyenet, it will be best to call to fix an appointment as he might be away to run errands or for makan breaks.

[Guest guest]

On 8/6/2023 at 2:44 PM, keyboard said:

You forget that due to its popularity, your PSF $$ will go up along with them. If your flat outlive you, you get more $$ to pass down to next generation. With good schools around, you get better amenities/transport/people too. Not to say there's no downsides though.

PSF $$ go up is good only if i selling the flat. Anyway, i have no one to pass down, so no matter how good and popular the location is also doesn't benefit me if i plan to live in that flat until i die.

[Guest guest]

8 hours ago, Guest Man with Foresight said:

Depends on which year you bought your house. Thus not everyone is silly to apply for single housing grant.  If you bought your 3-room in the 1980s, you pay only $20K.  If you bought your 3 room resale in the 1990s,  you pay less than $100K.  if you bought your 3-room resale in the early 2000s (during world financial crisis), you pay less than $180K and we are talking about matured estates.  Thereafter, you rent your house for 10 years to cover the principal purchased sum you've paid, the house is technically considered free gift from the Govt. 

 

Along the above scenarios, and now fast foward 2023,  you are not losing out financially.

 

Let's say, you didn't take grant, and be allowed to  buy 2-room BTO (99 years lease).  The price difference between your 3-room resale and 2-room new BTO is a net profit which may be locked up in CPF account to meet your minimum retirement (depending on your age at time of sale). The hard cash you get may be minimum.   Furthermore. consider the catch of 2-room new BTO:  you now live in much smaller space, you can't rent it out, and you are not enjoying the charm of matured estate.   Is that what you want?

 

If you are wealthy, the above shouldn't even be considered a all. 

 

 

If you are financially challenge,  the best option to monetise your HDB is NOT to sell one and then buy one, but to pay lowest sum possible, for 2-room BTO (shorter lease) and still enjoy a brand new house like those 99 years lease 2-room BTO.  Then, you get to see hard cash in your bank and not worry about not being able to bring your new HDB into the grave with you when you gone.   If you still have some remaining short term lease then, HDB will refund your next of kin.

 

I do not find buying the 2 room new BTO as a single worth it. I would rather go buy a resale 3 room first, then wait until i am 55 and buy the 2 room flex new BTO. I even can even buy a 2 room in a mature estate.