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

[Guest Buyer]

Good advice from Zero, especially the part about neighbours.  Why?  Because they are they the ones who can make or break you after you've moved in.

 

You can put up with redeemable defects in the unit but with inconsiderate neighbours, there's not much you can do.

 

Ask the agent to find out about the educational background of the neighbours.  It seems those with poor or low education is too challenging to talk reason with.

 

Also, query the last owner(s) why he is selling (although he may lie).

 

I am not an agent but have learned from my experience as a buyer.

[Guest Brood]

My bf and I are thinking of buying a flat. Is it wise to buy without getting married first?

[Happypup]

4 minutes ago, Guest Brood said:

My bf and I are thinking of buying a flat. Is it wise to buy without getting married first?

 

Eh.. are you a boy or a girl? Lolx!!! 

[thickhead79]

11 hours ago, Guest Brood said:

My bf and I are thinking of buying a flat. Is it wise to buy without getting married first?

no ROM cert how to buy?

 

unless u refer to each purchase a hdb base on single scheme, which both of u above 35

 

or u are refering to purchase a private property

[Marineboy]

The TOP for admiralty grove is 3rd quarter this year...anyone here manage to get a flat there?

Its nice to have know BW members in your neighbourhood I feel. I didn't realise 3 years have passed since applying for it.

500m from MRT...is not too bad I guess although location is not the first choice.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[HydroNaut]

Can I ask a question.

 

Are we able to sell off our Single 2-room BTO flat for profit after fulfilling the required 5 years MOP?

I heard one of my friend say we cannot as it is a government subsidised flat but I dun see why?

 

Anyone have the answer?

[Marineboy]

Min occupancy 5years..after that can rent out or sell as far as I know.

Bro remember me? So have you applied since that last time we talked about sembawang...and all didn't get?

I remember you wanted to go for resale too..

 

[lonelyglobe]

not sure about selling but u won't be able to rent out a 2 room flat, so for those who want to rent out, resale will be your only option.

[Zerosum]

You're not supposed to and won't be able to legally rent out a 2 room flat. It would be wiser for us to purchase either a 3room or 4room flat depending on your financial situation. 

[Marineboy]

I understand you can rent out the whole flat after MOP...just need to pay property tax accordingly.

One can move in with parents or siblings or kids...

Renting out the flat you are not suppose to stay there...i read someone slept in the living room..with the tenant's blessings...dont get caught..golden rule

More strange what i read was although you can rent out to 4 people they dont allow you to stay in with 3 strangers..lol

 

Property not owner occupied is a lot more...fyi,

Edited February 4, 2017 by Marineboy

[Guest BBB]

On Friday, February 03, 2017 at 3:33 PM, Marineboy said:

The TOP for admiralty grove is 3rd quarter this year...anyone here manage to get a flat there?

Its nice to have know BW members in your neighbourhood I feel. I didn't realise 3 years have passed since applying for it.

500m from MRT...is not too bad I guess although location is not the first choice.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nice location =) Near Mrt and the upcoming  Kampung Sembawang (more food choices with a bigger supermarket)

[HydroNaut]

On 03/02/2017 at 9:44 PM, Marineboy said:

Min occupancy 5years..after that can rent out or sell as far as I know.

Bro remember me? So have you applied since that last time we talked about sembawang...and all didn't get?

I remember you wanted to go for resale too..

 

 

Hi bro, i already got it 2years ago. Now waiting to collect my keys.  

[Nipoet]

On 04/08/2016 at 11:38 AM, lifeart said:

I plan to get a 3 rm flat on the resale market this year. Any tips?

 

Location, location, location.

Unless transportation is not an issue. Or you have no intention of selling it away in the future for profit.

Being near to wherever you want to go is always a plus. Being easily accessible to transportation that takes you to wherever you want to go is a good alternative.

Check out the average prices for the type of flat around the location you are intending to buy. That allows you to negotiate the prices down.

Check the list of facilities the seller is advertising. If it says "air-conditioned" and the air-con is a portable, lau kok-kok air-blower, you can cajole for a lower price also.

Plan your budget first. Make sure to buy within your means. This includes your monthly servicing of the loan, the maximum loan you can get, the amount of cash at hand for misc payments, and the amount of cash you have for renovations.

Recce the location, if you are not familiar.

If you can, do the paperwork yourself. You can save some agent fees this way (market rate is 1%-5% of the selling/buying price of your flat). Read up on HDB website regarding resale flats, the paperwork required, the fees payable, etc.

 

I just bought my 2-rm resale flat in AMK in July last year.. Renovated it, and is already happily and snugly tucked in my Ivory Tower.

 

Good luck!

[Guest HDB]

On 04/08/2016 at 11:38 AM, lifeart said:

I plan to get a 3 rm flat on the resale market this year. Any tips?

 

I just bought a 3 room resale HDB last year on my own without using any agent, thus saving me 1% agent's commission at least, but the seller's agent was kind enough to give some advice on 1 or 2 admin step that I might have missed out.

I bought it for $354k, using up about $80k CPF and no cash at all except for $2k option fee and few hundred $ in admin fees to HDB during 1st and 2nd appointments. Currently repaying HDB loan with $945 CPF + $320 cash monthly.

I spent about $50k on renovation (taking up renovation loan) which includes rewiring and new lights/ceiling fans and $20k on furnitures.

 

Most important about buying resale is the condition of the house plus the consideration if you are going to renovate the place and how much are you going to renovate? All these must be factored in because some resale HDB is move-in condition, some you must spend quite a hefty sum to renovate.

 

I originally plan to only renovate the master bedroom and its toilet and living room but after I started talking to IDs, I realized that in order for my renovation to look perfect and have that wholesome feel, I need to renovate my kitchen too. Luckily I had enough funds to do that when originally I did not factor in that I had to renovate almost the entire house.

[Guest BBB]

Hi Bros,

 

Just something to highlight.  When you are above 35yo (35+, immediately after your birthday), your CPF contribution rate for OA (ordinary account) will change.  

 

Approx 5-6% decrease in OA (From 62.16% reduced to 56.76%) but increase in SA and MA.

 

I made a mistake as I missed out this point when I am considering getting a resale flat.  Not really substantial but it means I will have to pay more in Cash.

 

Hope this helps =)

[Guest Hdbsale]

Can I also ask if it is advisable to have more than one selling agent for my hdb? My current one doesn't feel effective. 2 month only 1 viewer. Of course, he said is because of CNY la. But not sure if it is true that can be so bad. 

[Guest BBB]

56 minutes ago, Guest Hdbsale said:

Can I also ask if it is advisable to have more than one selling agent for my hdb? My current one doesn't feel effective. 2 month only 1 viewer. Of course, he said is because of CNY la. But not sure if it is true that can be so bad. 

Hi Hdbsale,

 

You think can actually, provided no contract was signed with them (to let them me the sole agent).

 

Pro:  More sources to reach out to buyer

 

Con: They won't be as committed

 

In fact I think what he says is true due to CNY.  You need to sell off quickly?

[onlylonely]

5 hours ago, Guest BBB said:

Hi Bros,

 

Just something to highlight.  When you are above 35yo (35+, immediately after your birthday), your CPF contribution rate for OA (ordinary account) will change.  

 

Approx 5-6% decrease in OA (From 62.16% reduced to 56.76%) but increase in SA and MA.

 

I made a mistake as I missed out this point when I am considering getting a resale flat.  Not really substantial but it means I will have to pay more in Cash.

 

Hope this helps =)

Omg i didnt know that OA contribution will drop from 23% to 21% after 35. Thanks for highlighting. Means i need to save up more cash to service my current housing loan when i cross 35.

 

Source: https://www.cpf.gov.sg/employers/employerguides/employer-guides/paying-cpf-contributions/cpf-contribution-and-allocation-rates

[Guest BBB]

35 minutes ago, onlylonely said:

Omg i didnt know that OA contribution will drop from 23% to 21% after 35. Thanks for highlighting. Means i need to save up more cash to service my current housing loan when i cross 35.

 

Source: https://www.cpf.gov.sg/employers/employerguides/employer-guides/paying-cpf-contributions/cpf-contribution-and-allocation-rates

Hello onlylonely,

 

Under which scheme you got your hdb?

[Guest Learning]

15 hours ago, Guest HDB said:

 

I just bought a 3 room resale HDB last year on my own without using any agent, thus saving me 1% agent's commission at least, but the seller's agent was kind enough to give some advice on 1 or 2 admin step that I might have missed out.

I bought it for $354k, using up about $80k CPF and no cash at all except for $2k option fee and few hundred $ in admin fees to HDB during 1st and 2nd appointments. Currently repaying HDB loan with $945 CPF + $320 cash monthly.

I spent about $50k on renovation (taking up renovation loan) which includes rewiring and new lights/ceiling fans and $20k on furnitures.

 

Most important about buying resale is the condition of the house plus the consideration if you are going to renovate the place and how much are you going to renovate? All these must be factored in because some resale HDB is move-in condition, some you must spend quite a hefty sum to renovate.

 

I originally plan to only renovate the master bedroom and its toilet and living room but after I started talking to IDs, I realized that in order for my renovation to look perfect and have that wholesome feel, I need to renovate my kitchen too. Luckily I had enough funds to do that when originally I did not factor in that I had to renovate almost the entire house.

Is your place in mature estate near to MRT station?

[onlylonely]

9 hours ago, Guest BBB said:

Hello onlylonely,

 

Under which scheme you got your hdb?

 

Not eligible for hdb yet. Mine is private.

[Guest BBB]

59 minutes ago, onlylonely said:

 

Not eligible for hdb yet. Mine is private.

Cool.  Good morning 

[Guest HDB]

7 hours ago, Guest Learning said:

Is your place in mature estate near to MRT station?

 

Mature estate about 5 mins walk to MRT.

[Guest Guest]

I'm now 33 with my name as co-owner with my mother where I put my name in after my sibling moved out to buy her own flat (name change).

 

I intend to downgrade to a 3-room flat. Am I eligible for BTO under first-time buyer scheme? If so, can I apply now since the waiting time is 2-3 years?

[Guest crossroad]

I'm reaching 35 years old in Aug. Have been looking around in the market to buy a shelter for myself and realised I've very limited choices.

 

HDB BTO - I earned at least $6k, hence I'm not qualified for this.

HDB resale - Most reasonable new resale flat (< 10 years old) are expensive, costing $600k for 2 rooms. Do u all think I should consider old flats that are 30-40 years old?

Condo - 1 room studio already cost at least $600k. This is out of my picture. I read newspaper that condo showrooms are always crowded with people and over 90% are sold out within the weekends. Are Singaporeans really so rich?

[yoyo74]

https://www.bloomberg.com/news/features/2016-11-21/-100-billion-chinese-made-city-near-singapore-scares-the-hell-out-of-everybody

Will news like this made more foreigner change to buy house in Malaysia instead due to much lower price and cause singapore flats to drop in value?

I really hope singapore flat price will crash down so that poor people like me will have a much easier time to buy a home to stay.

[Guest Home]

16 hours ago, yoyo74 said:

https://www.bloomberg.com/news/features/2016-11-21/-100-billion-chinese-made-city-near-singapore-scares-the-hell-out-of-everybody

Will news like this made more foreigner change to buy house in Malaysia instead due to much lower price and cause singapore flats to drop in value?

I really hope singapore flat price will crash down so that poor people like me will have a much easier time to buy a home to stay.

 

Those who don't own a home will hope prices will crash.  But those already home owners hope their property prices will go up and up.  

 

The cooling measures now in place are keeping the prices at bay, with a slight drop of 5 to 10%.  Unless there is war or natural disaster,  home prices in Singapore will never crash.  

[lonelyglobe]

On ‎12‎/‎3‎/‎2017 at 0:55 AM, Guest crossroad said:

I'm reaching 35 years old in Aug. Have been looking around in the market to buy a shelter for myself and realised I've very limited choices.

 

HDB BTO - I earned at least $6k, hence I'm not qualified for this.

HDB resale - Most reasonable new resale flat (< 10 years old) are expensive, costing $600k for 2 rooms. Do u all think I should consider old flats that are 30-40 years old?

Condo - 1 room studio already cost at least $600k. This is out of my picture. I read newspaper that condo showrooms are always crowded with people and over 90% are sold out within the weekends. Are Singaporeans really so rich?

Are u referring to places like pinnacle? forget about it as those people bought it 5 years ago prepare to retire after reaping the maximum benefits from it, location maybe good but so what? is still a HDB with 99 year tenure....u still can get new resale flat at reasonable price but location may not be that centralized but then how big is Singapore? 30 years resale flat are still ok and u can use the excess money to do renovation and make it like brand new (at least the interior part)

Singaporean really so rich? I don't think so, a lot of them bought but have to work cow work horse to pay the loan and many are foreigners who bought for investment purpose.

 

16 hours ago, Guest Home said:

 

Those who don't own a home will hope prices will crash.  But those already home owners hope their property prices will go up and up.  

 

The cooling measures now in place are keeping the prices at bay, with a slight drop of 5 to 10%.  Unless there is war or natural disaster,  home prices in Singapore will never crash.  

prices will never crash, simply the govt will not allow that to happen, apart from answering to 70% supporters, there will be too many economic and social issues following the price crash...in a country with limited land space, how to accommodate 7 million people in future?

[HydroNaut]

Anyone can advise on renovation loan. I read that we need to furnish a final quotation signed by both owner and contractor before we can be grant the loan. Is it possible to work out the possibility of getting some loan portion out for furnishings and other stuffs? Cause i read that the loan is distributed to contractor through cashier order so it will not be banked directly into the owner bank account. How to go about this any loopholes? 

 

 

[sgmaven]

Another thing to check up when buying a resale flat. Try to visit the location at different times of the day (not only after work, for example) to see how the local precinct is like. Some times, a void deck that looks fine in the day and early evening may look very different later in the night (people drinking alcohol, or even sleeping). Weekends could be also quite different, if you are near a supermarket or wet market.

[Guest Neighbour]

4 hours ago, HydroNaut said:

Anyone can advise on renovation loan. I read that we need to furnish a final quotation signed by both owner and contractor before we can be grant the loan. Is it possible to work out the possibility of getting some loan portion out for furnishings and other stuffs? Cause i read that the loan is distributed to contractor through cashier order so it will not be banked directly into the owner bank account. How to go about this any loopholes? 

 

Select furnishing you want and park it under the contractor's quote, if your contractor is willing, they may mark up it up a little as 'administration fee', or hide it behind some of the other built furniture.

 

4 hours ago, sgmaven said:

Another thing to check up when buying a resale flat. Try to visit the location at different times of the day (not only after work, for example) to see how the local precinct is like. Some times, a void deck that looks fine in the day and early evening may look very different later in the night (people drinking alcohol, or even sleeping). Weekends could be also quite different, if you are near a supermarket or wet market.

 

Best if can check/interview neighbours as well, some things you won't know is if your upstairs neighbour drag furniture pass midnight, and that can be a real pain.

[LeanMature]

6 hours ago, HydroNaut said:

Anyone can advise on renovation loan. I read that we need to furnish a final quotation signed by both owner and contractor before we can be grant the loan. Is it possible to work out the possibility of getting some loan portion out for furnishings and other stuffs? Cause i read that the loan is distributed to contractor through cashier order so it will not be banked directly into the owner bank account. How to go about this any loopholes? 

 

 

 

The bank will disburse directly to the contractor by cashier order and then deduct the monthly instalment from your bank account.  There is no loophole. 

[Guest Reno]

7 hours ago, HydroNaut said:

Anyone can advise on renovation loan. I read that we need to furnish a final quotation signed by both owner and contractor before we can be grant the loan. Is it possible to work out the possibility of getting some loan portion out for furnishings and other stuffs? Cause i read that the loan is distributed to contractor through cashier order so it will not be banked directly into the owner bank account. How to go about this any loopholes? 

 

 

Hi bro HrydroNaut

 

They will quote higher e.g. $30,000.  This will be paid to the contractor directly.  After reno, they will give a discount.  This discount will be refunded back to you in cash or other means.

  

[thickhead79]

On ‎12‎/‎3‎/‎2017 at 4:55 PM, Guest crossroad said:

I'm reaching 35 years old in Aug. Have been looking around in the market to buy a shelter for myself and realised I've very limited choices.

 

HDB BTO - I earned at least $6k, hence I'm not qualified for this.

HDB resale - Most reasonable new resale flat (< 10 years old) are expensive, costing $600k for 2 rooms. Do u all think I should consider old flats that are 30-40 years old?

Condo - 1 room studio already cost at least $600k. This is out of my picture. I read newspaper that condo showrooms are always crowded with people and over 90% are sold out within the weekends. Are Singaporeans really so rich?

resale u only allow min 3 room

 

3 room non mature area how can it be 600k

the most is around 300k

 

did u check online reale price?

[Guest Guest]

On 10 February 2017 at 0:49 PM, Guest HDB said:

 

Mature estate about 5 mins walk to MRT.

Mature estate about 5 mins walk to mrt and you bought at $354k is consider cheap! Usually resale flat near mrt mostly will fetch higher, at least $370k and above even the flat is old.

[Guest Guest]

On 13 March 2017 at 7:14 PM, Guest Neighbour said:

 

Select furnishing you want and park it under the contractor's quote, if your contractor is willing, they may mark up it up a little as 'administration fee', or hide it behind some of the other built furniture.

 

 

Best if can check/interview neighbours as well, some things you won't know is if your upstairs neighbour drag furniture pass midnight, and that can be a real pain.

You can check out the neighbour upstairs your unit if they are dragging furniture or not, you only know when you move in. Even you go and view the flat at different time also would not find out. This is a risk factor when you buy flat, whether new or resale, unless you buy the top floor.

[Guest Guest]

On 13 March 2017 at 2:39 PM, HydroNaut said:

Anyone can advise on renovation loan. I read that we need to furnish a final quotation signed by both owner and contractor before we can be grant the loan. Is it possible to work out the possibility of getting some loan portion out for furnishings and other stuffs? Cause i read that the loan is distributed to contractor through cashier order so it will not be banked directly into the owner bank account. How to go about this any loopholes? 

 

 

The contractor would know what to do, just tell them you need extra funds from the renovation loan to buy furnishing etc. 

[lonelyglobe]

 

去年近2万宗转售组屋交易中，屋龄满30年的占39.6％，这个比率在2014年只有33.4％。分析师指出，旧组屋大多数在成熟市镇，地点是吸引买家的主要原因。此外，一些买家可能抱有旧组屋最终会获选纳入选择性整体重建计划（简称SERS）的期望进场。

过去三年有越来越多屋龄达30年的旧组屋易主，显示“高龄”旧组屋在转售市场上依然吃香。有地点优越的三房式旧组屋，尽管屋龄超过40年，仍能以70多万元的高价转售，另有五房式旧组屋的价格甚至接近百万。

 

Super crazy, it was reported that a 3 room flat in toing bahru area going for 720k, lease left less than 6o years, size of flat was reported to be comparable to a 4 room flat.

[yoyo74]

This year more people is out of job and if the flat prices increases, its citizens would suffer.

[Guest Guest]

720K for a 3rm flat @ Tiong Bahru for an "average wage" single earner is like *^#%! 

 

Believe it is those 4 storey pre-war / pre HDB houses near the Tiong Bahru market??

[Guest Guest]

720k for a single person is a bit siong on the monthly installments, unless you earned big bucks then ok. Usually dual income is more manageable to buy such an expensive price.

[Guest Homeless]

7 hours ago, Guest Guest said:

720k for a single person is a bit siong on the monthly installments, unless you earned big bucks then ok. Usually dual income is more manageable to buy such an expensive price.

 

Yes, lose your job, unemployed for months to a year and you'd be in shit.

[Guest Soon]

On ‎19‎/‎3‎/‎2017 at 8:30 AM, Guest Guest said:

720K for a 3rm flat @ Tiong Bahru for an "average wage" single earner is like *^#%! 

 

Believe it is those 4 storey pre-war / pre HDB houses near the Tiong Bahru market??

 

Have to find out more.  If this flat going en-bloc soon, people will still buy at this price.  Good relocation and compensation by HDB.

[alien]

On 2/8/2017 at 5:28 PM, HydroNaut said:

 

Hi bro, i already got it 2years ago. Now waiting to collect my keys.  

Waiting to collect keys liao? So fast eh?

[Guest guest]

can anyone advise whether fixed rate or floating rate better when refinancing housing loan (about 150K)? I know the media has been advocating fixed rate due to the US raising of interest, but......And anyone knows which bank has a good rate?

[Guest Guest]

Hi, i'm buying a flat. How to know mpre about the history of the house? I don't know if agents will tell all. I want to know if someone died there or have paranormal activities. Would that information available elsewhere?

[thickhead79]

finally my bto flat is ready 

 

going to move in next week

[lonelyglobe]

On ‎29‎/‎7‎/‎2017 at 7:05 AM, Guest Guest said:

Hi, i'm buying a flat. How to know mpre about the history of the house? I don't know if agents will tell all. I want to know if someone died there or have paranormal activities. Would that information available elsewhere?

 

agent themselves may not know also, apart from theses strange encounters, more important thing is the ex-owner does not borrow from a loanshark

 

[HydroNaut]

14 hours ago, thickhead79 said:

finally my bto flat is ready 

 

going to move in next week

 

Congrats, where is it? 

[Guest Taboo]

I know of a couple who unknowingly bought a re-sale HDB 3 room (East area)  that came with a dark past. Initially everything were very normal until someone told them that their unit took a long time to sell. Feeling strange, they did a little digging and found that the previous owner actually jump to his death.

 

After knowing this piece of disturbing news,  many strange things started to happen.

 

The unit had since been sold to another unsuspecting buyer.