Buying BTO Vs 3-Room HDB Discussion (Compiled)

[Ahseng_]

15 hours ago, Guest guest said:

You can get cheaper wooden kitchen cabinet, no need 8k.

Cheaper wood mean lifespans reduce maybe 6 to 10yr

 

[Dan 28]

On 1/20/2020 at 10:31 PM, Guest Guest said:

 

Isn't that the situation with the commercial tenants nowadays? They all believed in renting for near term budgetary gains. But the moment the landlords raised their rents multifold, each and everyone of those tenants started closing shops one by one. Even big names like Borders, Sasa, etc were all closing shops due to high cost. How many shops were happy with their rental increase? 

 

Renting is only good for a near term fix. But it might kill you if you don't even have a permanent place to live in the future. Do you want to enjoy short term low rentals in exchange for a long term regret of not having a place to stay? Or do you want to suffer short term cash flow pain in exchange for long term stability? Landlords are not your friendly buddies, they are your commercial supplier. They don't love you for being a friend. They love you for the money that the property can get for them. 

 

But it is important to budget yourself. When HDB first started, it was planned such that the owner can pay off the debts in 10 years time, even though everyone tries to drag on to do the repayment. But now, you might need to pay it off till you are 65.

Actually my friend rent room  while young , now at above 50 years old , he is able to have cash and fully paid a 3 room HDB flat ....and able to do the travelling , shopping, hobbies , etc  while young  with  some cash .....not tied down with house loans 

Edited January 21, 2020 by Dan 28

[amuse.ed]

the era where properties can earn passive income is technically over. If we study the Sporec ecosystem, housing trends in details and balance the accounts. Most low to medium ses singles Singaporean will find it pretty tough to save up for rainy days. To folks who came from a small family nucleus, do try to stay with parents (if they don't mind). With sound investments and wise money management, one will be able to build a robust saving overtime. 

[lonelyglobe]

11 hours ago, Dan 28 said:

Actually my friend rent room  while young , now at above 50 years old , he is able to have cash and fully paid a 3 room HDB flat ....and able to do the travelling , shopping, hobbies , etc  while young  with  some cash .....not tied down with house loans 

That's why is very important to buy within your budget and not overstretch your financial limits,  even more important to get someone to pay your loan :)

9 hours ago, amuse.ed said:

the era where properties can earn passive income is technically over. If we study the Sporec ecosystem, housing trends in details and balance the accounts. Most low to medium ses singles Singaporean will find it pretty tough to save up for rainy days. To folks who came from a small family nucleus, do try to stay with parents (if they don't mind). With sound investments and wise money management, one will be able to build a robust saving overtime. 

Still can earn passive income through rental but very difficult to earn profits from selling as we bought resale flat unless u r so lucky to get enbloc,  2 room bto doesn't seem to have much resale value. 

[Guest Guest]

11 hours ago, Dan 28 said:

Actually my friend rent room  while young , now at above 50 years old , he is able to have cash and fully paid a 3 room HDB flat ....and able to do the travelling , shopping, hobbies , etc  while young  with  some cash .....not tied down with house loans 

 

Another way of looking at it is this: If he had not rented while young, he might have paid off his 3 room HDB flat before he reach 50 years old, and maybe have even retire and gone travelling , shopping, hobbies etc by 50 years old. It's a matter of priorities, whether you want to enjoy life first and suffer later, or suffer first and enjoy later. 

[amuse.ed]

@lonelyglobe that depends on how you define your passive income. Imho it should only come after these basics i.e. savings--- cash flows--- emergency for 12 months and any surpluses will then be consider passive. 

[Guest Futuristic?]

1 hour ago, Guest Guest said:

 

whether you want to enjoy life first and suffer later, or suffer first and enjoy later. 

Later?  Provided he is healthy and LATER existed in his life..   I have seen many rich people didn't get to enjoy life LATER after having spend a bulk of their earlier life "suffering".  Than again, it takes a lot of spiritualenergy to understand the meaning of ENJOYMENT, LIVING IN THE "NOW" AND NOT TRYING TO THINK beyond the unforseeable future.

[Guest Guest]

22 minutes ago, Guest Futuristic? said:

Later?  Provided he is healthy and LATER existed in his life..   I have seen many rich people didn't get to enjoy life LATER after having spend a bulk of their earlier life "suffering".  Than again, it takes a lot of spiritualenergy to understand the meaning of ENJOYMENT, LIVING IN THE "NOW" AND NOT TRYING TO THINK beyond the unforseeable future.

 

Look around you, between the number of rich people didn't get to enjoy life LATER, and the number of people LIVING IN THE "NOW" and didn't get to enjoy wealth LATER, which is more?

[Guest Futuristic?]

13 minutes ago, Guest Guest said:

 

Look around you, between the number of rich people didn't get to enjoy life LATER, and the number of people LIVING IN THE "NOW" and didn't get to enjoy wealth LATER, which is more?

There are tangible and intangible happiness.  The latter is inexhaustive.  Wealth? In Singapore, you need at least more than a million dollar to ensure minimum survival and money can be easily evaporated at the whim of slight policies changes. Whereas internal happiness is an inner cultivation to teach you how to manage your expectation, beyond dollar & cents, and still being able to survive regardless if you have a million dollar or not.  Don't forget,  some people started to rot once they retired comfortably with wealth. My neighbour has  suffered dementia the moment he retired "comfortably", if that is considered graceful golden age.

[Dan 28]

14 hours ago, Guest Guest said:

 

Another way of looking at it is this: If he had not rented while young, he might have paid off his 3 room HDB flat before he reach 50 years old, and maybe have even retire and gone travelling , shopping, hobbies etc by 50 years old. It's a matter of priorities, whether you want to enjoy life first and suffer later, or suffer first and enjoy later. 

 He prefers to do all those while  young and able bodied  ....he already starting to have  leg pain issues, can’t walk too much during travelling these days  ....he has no regrets with the decision  he made , now he is comfortably semi retired ...as most agreed , no point having money when older and can’t travel or enjoy much in life later ....

Edited January 22, 2020 by Dan 28

[LeanMature]

On 1/22/2020 at 11:48 PM, Dan 28 said:

 He prefers to do all those while  young and able bodied  ....he already starting to have  leg pain issues, can’t walk too much during travelling these days  ....he has no regrets with the decision  he made , now he is comfortably semi retired ...as most agreed , no point having money when older and can’t travel or enjoy much in life later ....

 

It's more sensible to purchase the flat when younger and rent out one room as passive income or use it to service the HDB loan if cpf was not enough to cover.  No point buying it at an old age and enjoy staying for a few years and then transfer to nursing home. 

[Ahseng_]

On 1/22/2020 at 11:23 AM, Since u r here said:

i agree never gets it cheap

and your meal party  will be ruined, dont ever dream of reuniting at your home

My glass didnt have any issues at all, cos extremely good quality

wood if those lousier ones will create a burnt if u put items with stains or hot item
https://www.facebook.com/everydaysg/posts/2680460455373256

news reported that prev they alrdy seen some scratches on it yet the supplier changed them a new one but...

 

 

the news reported that previously they alrdy seen some scars 

I just go for cement cab and I them I need.to very heavy load like a fish tank

[Ahseng_]

On 1/22/2020 at 12:53 PM, Guest Futuristic? said:

There are tangible and intangible happiness.  The latter is inexhaustive.  Wealth? In Singapore, you need at least more than a million dollar to ensure minimum survival and money can be easily evaporated at the whim of slight policies changes. Whereas internal happiness is an inner cultivation to teach you how to manage your expectation, beyond dollar & cents, and still being able to survive regardless if you have a million dollar or not.  Don't forget,  some people started to rot once they retired comfortably with wealth. My neighbour has  suffered dementia the moment he retired "comfortably", if that is considered graceful golden age.

My aim is intangible wealth.

 

Despite not having money. Earn only 1.7k, I live a free and easy life

Edited January 25, 2020 by Ahseng_

[Guest guest]

On 1/25/2020 at 3:58 PM, Ahseng_ said:

My aim is intangible wealth.

 

Despite not having money. Earn only 1.7k, I live a free and easy life

Now still got salary at $1700? You mean gross or take home?

[p2468]

I am currently staying in 3 room with my mum and have bought a 2room bto. Will you move to the new flat and rent out the old?

[Guest Wanting]

2 minutes ago, p2468 said:

I am currently staying in 3 room with my mum and have bought a 2room bto. Will you move to the new flat and rent out the old?

Depends on you motive.  People rent for the sake of renting.  Some people treasure the once-a-life time freedom by preferring to stay alone, away from the messy family nucleus.   Other yearn to have the accompany of a tenant, to stay with them.  You need to know which is more important to you.  We all live only once in this life,  you decide how you want to make full use of your depreciating asset and the remaining time of your life - balance your act - no need to listen to others what you felt most passionate about and than go ahead to do what you wanted.

[lonelyglobe]

2 hours ago, p2468 said:

I am currently staying in 3 room with my mum and have bought a 2room bto. Will you move to the new flat and rent out the old?

2 room is a bit challenging to have 2 beds, rent out the masterbed room instead and lots of privacy + some extra income. 

[Guest guest]

11 hours ago, p2468 said:

I am currently staying in 3 room with my mum and have bought a 2room bto. Will you move to the new flat and rent out the old?

2 room flat stay alone is nice but if you plan to stay with your mum in a 2 room flat, think you better stay put in your current flat.

[Guest guest]

13 hours ago, Since u r here said:

U r not alone definitely has members earning less than this amount and many assumed Sporeans are all having a good life

Like this sporeans even earn less than a FT here! Many FT earns much more than $1.7k.

[Ahseng_]

On 1/28/2020 at 10:24 PM, Guest guest said:

Now still got salary at $1700? You mean gross or take home?

Take home.

 

I only.count money that I got control

[Dan 28]

On 1/24/2020 at 9:08 AM, LeanMature said:

 

It's more sensible to purchase the flat when younger and rent out one room as passive income or use it to service the HDB loan if cpf was not enough to cover.  No point buying it at an old age and enjoy staying for a few years and then transfer to nursing home. 

40+ years is not old age to buy flat and capable of fully paid up flat lah .....life span is getting longer these days 

[Guest otherwise go overseas stay]

1 hour ago, Dan 28 said:

40+ years is not old age to buy flat and capable of fully paid up flat lah .....life span is getting longer these days 

Not true.  With change in policy,  40+ year old buying old flats cannot 100% use CPF hor.   If you opt for newer flat, got to pay more and you may wipe out your CPF overnight.   The older you gets, the harder it is to get a flat of your dream.  UNLESS, you can only opt for 2-room BTO, which is cheaper with plenty of grants but not at prime locations hor.  Prime location 2-room BTO also not cheap. 

[Ahseng_]

20 hours ago, Guest otherwise go overseas stay said:

Not true.  With change in policy,  40+ year old buying old flats cannot 100% use CPF hor.   If you opt for newer flat, got to pay more and you may wipe out your CPF overnight.   The older you gets, the harder it is to get a flat of your dream.  UNLESS, you can only opt for 2-room BTO, which is cheaper with plenty of grants but not at prime locations hor.  Prime location 2-room BTO also not cheap. 

That what I do.

 

Low ses Sinkies is like this

[Dan 28]

On 1/30/2020 at 11:12 PM, Guest otherwise go overseas stay said:

Not true.  With change in policy,  40+ year old buying old flats cannot 100% use CPF hor.   If you opt for newer flat, got to pay more and you may wipe out your CPF overnight.   The older you gets, the harder it is to get a flat of your dream.  UNLESS, you can only opt for 2-room BTO, which is cheaper with plenty of grants but not at prime locations hor.  Prime location 2-room BTO also not cheap. 

He used cash to pay up in full after years of savings 

[Guest guest]

20 hours ago, Dan 28 said:

He used cash to pay up in full after years of savings 

Full cash when buying private not easy, if full cash buying a bto 2 room flat, many should be able to do it.

[Dan 28]

1 hour ago, Guest guest said:

Full cash when buying private not easy, if full cash buying a bto 2 room flat, many should be able to do it.

He full cash of 345k for a 3 bedroom  HDB flat 

[Guest guest]

Just now, Dan 28 said:

He full cash of 345k for a 3 bedroom  HDB flat 

1 person full cash 345k house really not easy, this person all the while must be salary quite high, so that cpf can accumulate quite a huge amount when he reached 40s-50s.

[Dan 28]

9 minutes ago, Guest guest said:

1 person full cash 345k house really not easy, this person all the while must be salary quite high, so that cpf can accumulate quite a huge amount when he reached 40s-50s.

That’s why he rent room while young , use money to go travelling , do some hobbies , save up and buy it only after 45 years old ....after a certain age , lots of concerns for travelling after mid age 

[lonelyglobe]

Not surprised,  there are really lots of cash rich sporean, professional,  hawker, civil servant for 20-30 years, inherit from parents,  toto winner and the list goes on... 

[Guest guest]

22 hours ago, Dan 28 said:

That’s why he rent room while young , use money to go travelling , do some hobbies , save up and buy it only after 45 years old ....after a certain age , lots of concerns for travelling after mid age 

CPF rich doesn't mean cash rich. If you don't save much, even after working for 30 years also have not much cash on hand.

[Dan 28]

9 hours ago, Guest guest said:

CPF rich doesn't mean cash rich. If you don't save much, even after working for 30 years also have not much cash on hand.

He did not use CPF to pay ....he used cash and still got cash in hand after paying 

Edited February 5, 2020 by Dan 28

[LeanMature]

36 minutes ago, Since u r here said:

for those who have 3rm flat or larger, which of u rent them out?

and who do the house chores?

the owner or the tenants? it is hard to "Share"
https://www.hdb.gov.sg/cs/infoweb/residential/living-in-an-hdb-flat/for-our-seniors/rent-out-your-flat-bedroom

 

Of course, the landlord have to do. Tenants paid rent for room, not to do household chores.  Otherwise, nobody will hire maids right?

[Chubbyman]

Kindly check with you guys 

I am a 47 years old single I thinking getting my home flat where should I start  or what should i docurrently living in with my old parents

Please do advise thanks

[Guest guest]

26 minutes ago, Chubbyman said:

Kindly check with you guys 

I am a 47 years old single I thinking getting my home flat where should I start  or what should i docurrently living in with my old parents

Please do advise thanks

You plan to buy resale flat or apply for a new 2 room bto flat? You can still go ahead to buy a flat even though you are still living with your parents.

[Chubbyman]

2 minutes ago, Guest guest said:

You plan to buy resale flat or apply for a new 2 room bto flat? You can still go ahead to buy a flat even though you are still living with your parents.

Thanks

But for resale flat is it we need to pay a lump sum of cash first

[Guest guest]

2 hours ago, Since u r here said:

for those who have 3rm flat or larger, which of u rent them out?

and who do the house chores?

the owner or the tenants? it is hard to "Share"
https://www.hdb.gov.sg/cs/infoweb/residential/living-in-an-hdb-flat/for-our-seniors/rent-out-your-flat-bedroom

Confirmed landlord do the whole house chores even there is tenants. Unless they are staying in your house for free, then maybe you can ask them to do house chores.

[Guest guest]

4 minutes ago, Chubbyman said:

Thanks

But for resale flat is it we need to pay a lump sum of cash first

Usually even the cash portion which you need to pay, many times can also be pay off with your cpf if there is enough, no need to upfront a lump sum of cash.

You read up this link to find out more.

https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/finance/costs-and-fees

 

 

[Chubbyman]

On 2/21/2020 at 4:29 PM, Guest guest said:

Usually even the cash portion which you need to pay, many times can also be pay off with your cpf if there is enough, no need to upfront a lump sum of cash.

You read up this link to find out more.

https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/finance/costs-and-fees

 

 

Thanks 

[Guest My Friend Applied]

A friend of mine single, bought his first 3-room flat from resale.  Now he wanted to apply 2-room BTO as downgrade, HDB said he can only get 2-room BTO (short lease only) .   Have you guys faced similar problem?  I told my friend 2-room BTO short least also not back, because 99 year lease also won't fetch much for 2-room BTO, might as well get short lease (cheaper) and enjoy his retirement from there.

[LeanToned]

I applied for a 2 room BTO late last year and was successful in getting a unit. Someone suggested that i should go for a resale flat but i decided a brand new place would be better. And i prefer a smaller space too.

[LeanMature]

7 hours ago, LeanToned said:

I applied for a 2 room BTO late last year and was successful in getting a unit. Someone suggested that i should go for a resale flat but i decided a brand new place would be better. And i prefer a smaller space too.

 

More suitable for age 55 and above, where they can choose the lease period with elderly friendly features pre-installed. 

 

If you just passed 35, getting a 3 or 4 room resale flat make more sense. You can rent out the rooms or even the whole unit after 5 years, or sell it when price appreciated.  

 

[aedirn]

9 hours ago, LeanToned said:

I applied for a 2 room BTO late last year and was successful in getting a unit. Someone suggested that i should go for a resale flat but i decided a brand new place would be better. And i prefer a smaller space too.

Congrats!

Was your queue number towards the very end? Hope it is in the area you are OK with.

So now it's time to think about renovation and stuff ^^;

[fab]

Buy whatever within your means.

[Guest wahahahaha]

3 hours ago, LeanMature said:

 

More suitable for age 55 and above, where they can choose the lease period with elderly friendly features pre-installed. 

 

If you just passed 35, getting a 3 or 4 room resale flat make more sense. You can rent out the rooms or even the whole unit after 5 years, or sell it when price appreciated.  

 

True, actually for 2-room BTO, the shorter lease the better and it is extandable lease too if your age outlive the lease. Reason being, unlike 3 room and above, 2-room BTO is not very salesable. So no need to opt for 99 years if you are already 50 yo, unless you can live up to 150 years old.

[Guest Guest]

On 2/24/2020 at 1:43 PM, Guest My Friend Applied said:

A friend of mine single, bought his first 3-room flat from resale.  Now he wanted to apply 2-room BTO as downgrade, HDB said he can only get 2-room BTO (short lease only) .   Have you guys faced similar problem?  I told my friend 2-room BTO short least also not back, because 99 year lease also won't fetch much for 2-room BTO, might as well get short lease (cheaper) and enjoy his retirement from there.

He can only buy BTO with short lease because he bought his resale 3-room with HDB grant. If he did not accept the grant for his resale, he can downgrade to a 99-year lease BTO 2-room. 

[Guest Huh??]

2 hours ago, Guest Guest said:

He can only buy BTO with short lease because he bought his resale 3-room with HDB grant. If he did not accept the grant for his resale, he can downgrade to a 99-year lease BTO 2-room. 

Huh??  like that mean mostly all the single population who bought 3 room resale in the past not qualified liao???  I thought when a person bought 3 room resale, the grant of SGD11000 (for singles) was a default gift, whether you asked or didn't ask for it..  If that was even called a "grant" at all for such a small amount, my friend would rather not have it if he knew there is such a criteria imposed on getting a 2-room BTO  a decade later.  Wa lau, liddat very si-poon!

[fab]

1 hour ago, Guest Huh?? said:

Huh??  like that mean mostly all the single population who bought 3 room resale in the past not qualified liao???  I thought when a person bought 3 room resale, the grant of SGD11000 (for singles) was a default gift, whether you asked or didn't ask for it..  If that was even called a "grant" at all for such a small amount, my friend would rather not have it if he knew there is such a criteria imposed on getting a 2-room BTO  a decade later.  Wa lau, liddat very si-poon!

 

Iirc  the grant of SGD11000 (for singles)is only for monthly salary below   sgd3k. 

[Guest Huh??]

16 minutes ago, fab said:

 

Iirc  the grant of SGD11000 (for singles)is only for monthly salary below   sgd3k. 

No leh, my friend salary was 3800.  Got such critieria meh?

[fab]

33 minutes ago, Guest Huh?? said:

No leh, my friend salary was 3800.  Got such critieria meh?

 

New amount. 

 

https://hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/single-singapore-citizen-scheme-or-joint-singles-scheme

[Guest HDBer]

But on top of that singles still have to pay up $15k right? despite all the grants.