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

[keyboard]

Would anyone know,

If i am a married couple, already waiting for the BTO to build (will pay in full when the keys come), can i buy a existing condo now.

 

How much monthly salary do you need to get a loan for a $2.2m property?

[mate69]

Would anyone know,

If i am a married couple, already waiting for the BTO to build (will pay in full when the keys come), can i buy a existing condo now.

 

How much monthly salary do you need to get a loan for a $2.2m property?

 

As long as you (or anyone else for that matter) have put your name down to a HDB unit, you cannot buy a condo.

Reason is the government believes if you can buy a condo, then you don't really need to have a HDB flat in the first place.

(since you are deemed to be able to afford private housing and will be denying those who really need the flat of a place)

 

Also, an HDB unit generally is for those who are earning lesser than those who can afford private housing and is also for staying in.

Thus, once you have fulfilled the MOP of 5 years for an HDB unit, you can buy a condo AND hang on to your existing flat.

 

But if you currently have a condo AND want to buy a HDB flat, then you have to dispose of your condo first before getting the keys to your flat.

Edited April 30, 2015 by mate69

[keyboard]

Anyone still looking at HDB? Is the recent Sale of Balance Flats (SOBF) of 5,387 units available weird?

 

http://esales.hdb.gov.sg/hdbvsf/eampu05p.nsf/0/15MAYSBF_page_1905/$file/about0.html

 

Quite a number are repossession flats (individual units, left 60 years lease) or the unit numbers are the same for the same block, just different floors (can't find the map or floor plan to understand why).

[thickhead79]

The Housing and Development Board (HDB)'s plans to bring studio apartments and two-room flats under a single scheme are underway, National Development Minister Khaw Boon Wan announces 

[teatree]

Anyone still looking at HDB? Is the recent Sale of Balance Flats (SOBF) of 5,387 units available weird?

 

http://esales.hdb.gov.sg/hdbvsf/eampu05p.nsf/0/15MAYSBF_page_1905/$file/about0.html

 

Quite a number are repossession flats (individual units, left 60 years lease) or the unit numbers are the same for the same block, just different floors (can't find the map or floor plan to understand why).

Probably the view is blocked by another close by building.

[Guest Guest]

The Housing and Development Board (HDB)'s plans to bring studio apartments and two-room flats under a single scheme are underway, National Development Minister Khaw Boon Wan announces

U mean they are going to allow single to buy studio apt?

[HydroNaut]

U mean they are going to allow single to buy studio apt?

 

Crazy....2 room already quite pigeon hole to stay in.... if stay in a studio apartment isn't it an ant's hole?

I would rather HDB annouce the single able to purchase 3-room instead...

 

Hopefully they will announce it after 5 years, so that I can dispose of my 2-room and purchase the 3-room.

[Guest Guest]

Single only one person stay, so studio apt is big enough.

[teatree]

Single only one person stay, so studio apt is big enough.

Studio is almost the same size as a 2-room. 2-room here is referring to 1 b-room and 1 living room, similar to studio.

[Guest Guest]

Studio is almost the same size as a 2-room. 2-room here is referring to 1 b-room and 1 living room, similar to studio.

This cld be the reason why hdb plan to allow single to buy studio as well!?

[HydroNaut]

Studio is almost the same size as a 2-room. 2-room here is referring to 1 b-room and 1 living room, similar to studio.

 

 

 

Where got same?

 

Price differences almost half the price.

Studio apartment is around 36sqm where 2room is around 47sqm.

Studio only at currently 30years leasehold, whereas 2room is at 99years leasehold.

 

God bless you if you wanna get a studio apartment....now even the smaller 2-room of 45sqm are not taken, all only wants to go for the slightly bigger 2-room unit of 47sqm.

Every SQM counts in Singapore.

Edited June 24, 2015 by HydroNaut

[teatree]

Where got same?

 

Price differences almost half the price.

Studio apartment is around 36sqm where 2room is around 47sqm.

Studio only at currently 30years leasehold, whereas 2room is at 99years leasehold.

 

God bless you if you wanna get a studio apartment....now even the smaller 2-room of 45sqm are not taken, all only wants to go for the slightly bigger 2-room unit of 47sqm.

Every SQM counts in Singapore.

There are 2 sizes for studio, 36 and 47sqm. The difference I think is that studio has elderly friendly features built-in.

[alien]

HDB really opened up for single to apply for studio apt?

[teatree]

HDB really opened up for single to apply for studio apt?

 

HDB is combining the two schemes and re-branding it as '2-room flexi'.  Basically, studio offered a shorter lease term (30 years) and is more suitable for single elderly who may not outlive 99 years lease.  So, the main difference between the studio and 2-room is actually the lease period, 30, 50 or 99 years. Also, elderly friendly feature like grab bar can be found in studio apts.

[Guest Guest]

There are 2 sizes for studio, 36 and 47sqm. The difference I think is that studio has elderly friendly features built-in.

The layout of a studio and a 2 rm is exactly the same for both sizes!!

If you really make a comparison, the studio is actually much more expensive in real terms.

Take a studio and 2 rm in similar size (eg 47sq m), the initial selling price for a studio may be cheaper , yes just slightly cheaper for a few thousand.

But that's all.

They can claim that the studio is fully furnished and equipped with alarm system for elderly but those stuff total cost is the most $6 to $8K

But the studio has only 30 years lease and a 2rm is 99 years.

Studio has to be return to HDB when the lessee dies or decided to move out and will be only refunded the amount equivalent to the balance on the lease.

2rm can be resale in the open market after the MOP and maybe able to make a good profit from the sales.

So, a studio is actually 2 to 3 times more expensive than a 2 rm flat!!.

[teatree]

The layout of a studio and a 2 rm is exactly the same for both sizes!!

If you really make a comparison, the studio is actually much more expensive in real terms.

Take a studio and 2 rm in similar size (eg 47sq m), the initial selling price for a studio may be cheaper , yes just slightly cheaper for a few thousand.

But that's all.

They can claim that the studio is fully furnished and equipped with alarm system for elderly but those stuff total cost is the most $6 to $8K

But the studio has only 30 years lease and a 2rm is 99 years.

Studio has to be return to HDB when the lessee dies or decided to move out and will be only refunded the amount equivalent to the balance on the lease.

2rm can be resale in the open market after the MOP and maybe able to make a good profit from the sales.

So, a studio is actually 2 to 3 times more expensive than a 2 rm flat!!.

 

Hopefully, that's going to change when the new "2 room-flexi" scheme come full steam.  As the name implies, perhaps HDB will be flexible enough to allow option for a studio with a 50 or even 99 years lease.  In HDB context, studio means fully furnished moved-in condition with features like anti-slipped flooring, low hanging wall cabinet for easy reach, ramp that allowed wheelchair to enter the bathroom, alarm system etc.  Also, the toilet has two doors, one opens to the bedroom while the other to the kitchen.

 

If you are young and single, you may prefer to go for the unfurnished 2-rooms unit with a 99 years lease.  You can design and décor anyway to your liking.  However, 20 or 30 years down the road, installing the above features in your home by outside contractors will not be cheap.

[alien]

It means even young single can opt for the shorter lease of the studio apt if he dun mind?

[Marineboy]

Another way of making more affordable public housing..lol

[ouat1972]

The Housing and Development Board (HDB)'s plans to bring studio apartments and two-room flats under a single scheme are underway, National Development Minister Khaw Boon Wan announces

I think it's a good move and long overdue.

Just hope it's not in some very 鸟不生蛋 ulu places.

I honestly dun understand the many rules governing the flats. Yes they are subsidized but it's not like HDB is losing money to build them.

The real issue has always been the case where supply is restricted despite the demands.

Anyway, sorry for ranting.

[groyn88]

 

This news clip was broadcast over Channel News Asia on 2 January 2016:
http://www.channelnewsasia.com/news/singapore/application-rate-for/2392968.html?cid=FBSG
Application rate for singles for HDB flats down since July 2013: HDB
The application rates for singles have fallen, from a high of 58 applicants per flat in July 2013, to about 7 applicants per flat in November 2015, said HDB.
By Kimberly Spykerman, News 5
Posted 02 Jan 2016 13:01
Potential buyers at HDB Hub looking at scale models of new flats. (Photo: TODAY/Robin Choo) 
SINGAPORE: The application rate for singles for Housing & Development Board (HDB) flats has fallen, HDB said on Saturday (Jan 2).
In an update, HDB said that it has "made steady progress in meeting the home ownership aspirations of singles". It added that the rate is now about 7 applicants per flat in November 2015 - the most recent BTO exercise, down from 58 per flat in July 2013, when singles were first allowed to apply for new flats under the Singles Scheme. 
“Over the last two and a half years, we’ve seen the supply increase somewhat, and over this period of time, those who can qualify have already qualified," said Mr Alex Yam, who chairs the Government Parliamentary Committee for National Development.
"Those who are interested in buying have already entered the market," he added.
One of those who applied under the scheme is Ms Tay Nguang Kee. The 53-year-old previously lived with her sister and is now preparing to move into her new two-room flat in Choa Chu Kang.
She decided to apply for a BTO flat under the Single Singapore Citizen Scheme in 2013 and got lucky on her second try.
"It's peaceful and comfortable for me. The new environment in a BTO is better. It's clean and nice, and near my sister's house,” she said.
Ms Tay added that she opted not to get a resale flat as these are more expensive. Under the Singles Scheme, she bought her flat for S$119,000. 
"Since July 2013, we have invited about 11,600 singles to book a 2-room flat in the non-mature estates like Choa Chu Kang and Sengkang. As at end Nov 2015, about 7,700 singles had booked a flat, out of which, about 700 singles have collected the keys to their new homes," said HDB.
"HDB has ramped up its 2-room flat supply from 2,600 units in 2013 to about 5,000 units in 2014," it added. "In 2015, HDB has offered about 4,000 units of 2-room Flexi flats to meet the housing needs of singles and low-income families."
TOO EARLY TO TELL IF DEMAND HAS EASED: ANALYST
November also marked the launch of the first batch of new 2-room Flexi flats, which were first introduced in August under the 2-room Flexi Scheme. 
However, an analyst said it is too early to tell if the demand for new flats under the Singles Scheme has eased.
Propnex Key Executive Officer Lim Yong Hock, said: "When there's a huge increase in demand, it could also be because of a specific location. For instance, the flats in the recent November launch in Choa Chu Kang was about 30 times oversubscribed.
“But overall, it's seven applicants to one flat. It's probably too early to review this because the demands for different locations will still take a bit of time to digest and deflate the demand in that location."
Mr Yam also suggested that a wider range of flats could be included under the scheme, to encourage more singles to own their own homes.
He said: "Singles are not homogeneous. There are those from lower income, those with slightly higher income - so their needs and wants are going to be a little more diverse.
“We don't have enough of that diversification as we have with the rest of the population. That's perhaps one area that HDB can relook, now that we've reached the 2.5-year mark. It's maybe timely for us to review how we can provide some diversification, perhaps in the type of flats, and therefore encourage other singles to have a home of their own."
HDB said it will continue to monitor this group of home buyers and calibrate the supply of two-room flats to better meet their housing needs.

[Guest]

Any successful applicant lately?

[Happypup]

Still waiting to turn 35.. Can't wait! Hopefully there will be some good launch in nice location 3 years later.. =)

[Guest]

Singles applying 2 rm bto here has been die down. No one is applying?

[HydroNaut]

I heard recent news that HDB might be considering offering 3-Room BTO Flats to Singles as well.

 

Damn! When I am receiving my flat in 2017, this ground-breaking new came out. But it might not be anytime soon I guess, but this might be another factor why the application rates for 2-room are cooling down too.

[Guest Teatree]

Once the backlog is cleared, the demand will be on a downward trend, as the number of singles turning 35 will decrease overtime. I foresee an oversupply and prices will drop or remain stagnant in the next 5 years. HDB may be forced to even lower the age limit to 30 to fuel this segment of the market.

[Happypup]

I heard about the 3 room thingy long time ago.. But now not even close to officiating.. Oh well.. Think really heng sway one siah.. Hopefully have a chance when it's my turn.. It will be awesome if they decrease the min age thou! #notcomplaining

[Guest]

Even if HDB  lower the minimum  age to 30, do you think you will have saved enough for the 20% CPF downpayment and cash renovation and furnishings?

[thickhead79]

3 hours ago, Guest said:

Even if HDB  lower the minimum  age to 30, do you think you will have saved enough for the 20% CPF downpayment and cash renovation and furnishings?

CPF sure alot money if we start working from 24yo.... with an income of 3k per mth

 

my 2 room flat before grant is $140k

after grant is 104k

 

ready in 2018

[jason]

If the current flat my name is a joint tenant with my parents, can I get subsidised 2 room flat ? what is the difference btw 2 room and BTO flat ?

[Nipoet]

4 hours ago, Guest said:

Even if HDB  lower the minimum  age to 30, do you think you will have saved enough for the 20% CPF downpayment and cash renovation and furnishings?

Not enuf, borrow lor.

 

2rm no need much reno, so the total cost + furniture should come up to about 20k?

If Home Loan borrow from HDB the downpayment only 10% from CPF, assuming 110k price, downpayment only 11k. At a salary of $2500 per month, your OA per month should be 575. Per year = 6900. You only need 2 years to reach 11k.

 

Borrowing 20k at age 30 should be no issue, unless you have lousy credit history. 

[Nipoet]

4 minutes ago, jason said:

If the current flat my name is a joint tenant with my parents, can I get subsidised 2 room flat ? what is the difference btw 2 room and BTO flat ?

 

Joint Tenant that means you not co-owner, so should be considered 1st timer in buying flat. Subsidies depend on your income. Less income = more subsidies. Singles buying 2-RM BTO oso got penalty of $15,000. Check out the "@" footnote here(http://esales.hdb.gov.sg/hdbvsf/eampu11p.nsf/0/15NOVBTO_page_1911/$file/about0.html).

 

2 room = number of rooms in the flat lor. 2rm = 1 bedroom, 1 living room. 3rm = 2bedroom. 4rm = 3 bedroom, and so on. Basically means Type of Flat. Bigger of course better.

 

BTO = mode of sales. Got Build-To-Order (BTO), Sale-Of-Balance Flats (SOB), Executive Condominums (EC), and Design, Build and Sell Scheme (DBSS). First 2 modes sells hdb flats, last 2 (EC & DBSS) will become private housings after some time.

 

 

[thickhead79]

47 minutes ago, jason said:

If the current flat my name is a joint tenant with my parents, can I get subsidised 2 room flat ? what is the difference btw 2 room and BTO flat ?

joint mean u cannot buy hdb

u need to remove yr name

yr 1st timer chance gone

 

BTO is built to order that all

2 room flat is 1 room 1 living room

 

35yo single only can buy 2 room BTO

[Guest]

12 hours ago, Nipoet said:

 

Joint Tenant that means you not co-owner, so should be considered 1st timer in buying flat. Subsidies depend on your income. Less income = more subsidies. Singles buying 2-RM BTO oso got penalty of $15,000. Check out the "@" footnote here(http://esales.hdb.gov.sg/hdbvsf/eampu11p.nsf/0/15NOVBTO_page_1911/$file/about0.html).

 

2 room = number of rooms in the flat lor. 2rm = 1 bedroom, 1 living room. 3rm = 2bedroom. 4rm = 3 bedroom, and so on. Basically means Type of Flat. Bigger of course better.

 

BTO = mode of sales. Got Build-To-Order (BTO), Sale-Of-Balance Flats (SOB), Executive Condominums (EC), and Design, Build and Sell Scheme (DBSS). First 2 modes sells hdb flats, last 2 (EC & DBSS) will become private housings after some time.

 

 

 

Joint Tenant means you are a Co-Owner, which means, if the First Owner died, you get to own the whole flat, even if you don't contribute a single cent, as long as your name is listed in the Title Deed.

[Nipoet]

17 minutes ago, Guest said:

 

Joint Tenant means you are a Co-Owner, which means, if the First Owner died, you get to own the whole flat, even if you don't contribute a single cent, as long as your name is listed in the Title Deed.

 

Oooh. That means a Joint Tenant doesn't get to enjoy 1st Timer benefits.

[Guest]

2 hours ago, Nipoet said:

 

Oooh. That means a Joint Tenant doesn't get to enjoy 1st Timer benefits.

 

You are the Co-Owner of the first flat, so whatever 1st Timer benefits the First Owner enjoyed, you also considered enjoyed. Both of you can be a married couple, father and son, brother and sister, that is irrelevant.

[thickhead79]

11 hours ago, Nipoet said:

 

Oooh. That means a Joint Tenant doesn't get to enjoy 1st Timer benefits.

yes this is what happen when i try to add my name into my parent current house to help them pay using my cpf

 

hdb staff warn me that i will lose my 1st time buyer benefit

 

they suggest me using cash

[Nipoet]

1 hour ago, thickhead79 said:

yes this is what happen when i try to add my name into my parent current house to help them pay using my cpf

 

hdb staff warn me that i will lose my 1st time buyer benefit

 

they suggest me using cash

 

Well, I'm waiting for next month's launch to apply.

 

Hopefully can get. :x

[thickhead79]

17 minutes ago, Nipoet said:

 

Well, I'm waiting for next month's launch to apply.

 

Hopefully can get. :x

 now shl be ok ba cos the demand getting low

[Nipoet]

1 hour ago, thickhead79 said:

 now shl be ok ba cos the demand getting low

Low but still not low enuf. Last year's Nov BTO 2rm BTO got 7 people apply 1 flat. -.-" 

 

Hopefully this Feb Sengkang release I can apply. Really wanted to get a flat near my old house. xD

 

If the selling price around 100k, then I probably don't even need a loan.

 

But considering whether to put the money in my OA to continue earning 3.5% interest as opposed to investing them, since my current investment not even making 2.5% interest. :/

[thickhead79]

14 minutes ago, Nipoet said:

Low but still not low enuf. Last year's Nov BTO 2rm BTO got 7 people apply 1 flat. -.-" 

 

Hopefully this Feb Sengkang release I can apply. Really wanted to get a flat near my old house. xD

 

If the selling price around 100k, then I probably don't even need a loan.

 

But considering whether to put the money in my OA to continue earning 3.5% interest as opposed to investing them, since my current investment not even making 2.5% interest. :/

only first 60k get u extra 1%

 

yr cpf money only gone when u collecting key, so still got 3 years to earn outside 

[Guest]

14 hours ago, Nipoet said:

 

Well, I'm waiting for next month's launch to apply.

 

Hopefully can get. :x

 

Since you are a co-owner of a Joint Tenancy in the current flat you are staying, you have to sell off the flat with the consent of the first owner within 6 months of receiving the key of your new flat. 

[soon kueh]

I have tried to ballot for 2rm flat under Single Scheme for 8 times now and none of them have been successful. Can anyone share with me how many times do you need to ballot before getting queue number? Thanks!

Edited February 23, 2016 by soon kueh

[HydroNaut]

52 minutes ago, soon kueh said:

I have tried to ballot for 2rm flat under Single Scheme for 8 times now and none of them have been successful. Can anyone share with me how many times do you need to ballot before getting queue number? Thanks!

 

I had tried for the 2rd times before I got it. First try, Punggol, never get....second time, Sembawang got it. So lucky to get the Sembawang unit as it is just a stone throw away from the future Canberra MRT station.

 

You tried 8 times? Cannot be cannot get, as the market is cooling down or have you been rejecting the offers to you so far? Ulu locations got higher chances of getting them.

[soon kueh]

Wow so lucky and some more get one nearby MRT. I always try to get from Sengkang and Punggol as all my family members are residing at this area. I have tried those nearby LRT and far from MRT/LRT but yet still can't get one. I have never been rejecting any offer so far. I have given few queue numbers, however the numbers they gave me are either twice or triple of available units. How to get?

I guess I have no luck in balloting. Do you have any tips or not? This month batch will be my 9th try

Edited February 23, 2016 by soon kueh

[HydroNaut]

15 minutes ago, soon kueh said:

Wow so lucky and some more get one nearby MRT. I always try to get from Sengkang and Punggol as all my family members are residing at this area. I have tried those nearby LRT and far from MRT/LRT but yet still can't get one. I have never been rejecting any offer so far. I have given few queue numbers, however the numbers they gave me are either twice or triple of available units. How to get?

I guess I have no luck in balloting. Do you have any tips or not? This month batch will be my 9th try

 

Tips? I dun have lor. I always go in to browse on the very second and click "submit" immediately right after i have google and research on the location. It is all "ti-kam" one. If you still cannot get, why not try the resale market? It is cooling down and the price are all below valuation now so quite worth it and somemore you can choose the location you want.

[soon kueh]

Quote

21 minutes ago, HydroNaut said:

 

Tips? I dun have lor. I always go in to browse on the very second and click "submit" immediately right after i have google and research on the location. It is all "ti-kam" one. If you still cannot get, why not try the resale market? It is cooling down and the price are all below valuation now so quite worth it and somemore you can choose the location you want.

 

That's what I did diligently for 8 times by submitting my application and hope for the best.

Unfortunately I cannot afford to buy resale flat  

I only can hope to get BTO. Bopien, I might try more ulu area like bukit batok.

[HydroNaut]

1 minute ago, soon kueh said:

That's what I did diligently for 8 times by submitting my application and hope for the best.

Unfortunately I cannot afford to buy resale flat  

I only can hope to get BTO. Bopien, I might try more ulu area like bukit batok.

 

Good luck to you this time round. Hope to hear good news from you soon.

[Happypup]

12 minutes ago, soon kueh said:

That's what I did diligently for 8 times by submitting my application and hope for the best.

Unfortunately I cannot afford to buy resale flat  

I only can hope to get BTO. Bopien, I might try more ulu area like bukit batok.

Good luck for your next try!

 

Eh.. But if your family in SK/ PG area, BB is like super far can. May want to reconsider. Punggol have many new nice developments coming up! =)

[soon kueh]

Quote

15 minutes ago, HydroNaut said:

 

Good luck to you this time round. Hope to hear good news from you soon.

Thanks!

 

[soon kueh]

Quote

16 minutes ago, Happypup said:

Good luck for your next try!

 

Eh.. But if your family in SK/ PG area, BB is like super far can. May want to reconsider. Punggol have many new nice developments coming up! =)

Thanks!

Ya lor.. BB is quite far away.. haizz see how it goes. need to decide in few days as the registration will be opened soon.