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


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Guest -3Rm HDB Owner-

All it takes is an international crisis to bring property to affordable level and also $2 COE. If you take time to do some intelligent research, you can see one is coming; how soon it will hit, nobody knows.

I would agree on property prices readjusting to a more affordable level for larger properties, be it HDB or Private. But if you look at recent crises, prices of smaller units, like 3Rm HDB, tend to fare better in such times. This is because new home buyers tend to look for lower priced units when the economy is bad and there will be lots more downgraders looking for the same too. Since 3Rm HDB's are the most practical and readily available (as compared to 1R & 2R). In the ten years I've owned my 3Rm, its price has appreciated by 100% - bought at $170K with no COV and now valued at $300K with possible COV of $30K.

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From what i observed, at the rate that HDB flats are being sold, i doubt the number "4" has much effect. Guess the same applies to condo, though the same could not be said for landed properties. Each individual has their own preference, believes.

As for your question of undies along the corridor, i think it's still better than loanshark splashing paint over at the neighbouring units? :lol:

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Guest Guest

If you are super-scale, you have plenty of choices; HDB, Condo, landed properties which you can exclude the number 4 as part of your address.

If you are normal-scale, your choice is only limited to HDB. The 3 room HDB is not that plentiful including the BTO stock under construction. So if you like to exclude the '4' in your address, your choice is even narrow in the already small pool. It's better to buy within your budget, liking, attributes of flat, convenience in location etc etc.

Be practical and overlook the superstition link to '4'

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  • 2 weeks later...
Guest pinoy35

I have realized that priced of flats will not be coming down, thus there is no point in waiting. Initially, I was also considering buying a 4R flat. I was thinking I can rent out one bedroom and keep the third bedroom as a guestroom. Unfortunately, prices of 4R flats were beyond my means especially I wanted to stay as close to the city as possible. Finally gave up and decided to focus on 3R flats.

One time, I drove into Potong Pasir and immediately fell in love with the estate. So I started seeking 3R flats in the estate. It wasn't easy as quota for "Other Races" was filled up. Luckily, I had a good agent who managed to offer me a flat that was not even advertized. I viewed the unit and immediately felt this is the flat that I want. The flat was previously renovated but still needed some work to make it suit my taste and style. One attraction of the flat was that I wouldn't need to do any major renovations. The block is just 5 min walk to the MRT station and is on the top floor with unblocked views. Expectedly, all these plus points would come at a price. The valuation was just above $300K and the owner was asking for $30K COV.

And so starts the long process of purchasing the flat. It took about 3 months to complete the sale. After I got the keys, I had the flat renovated and that took about 3 weeks to complete. Fortunately, I had a simple taste when it comes to interior design. I didn't want my flat to look like a showflat that usually graced the renovation contractor's brochures. I managed to keep the renovation cost to less than $15K including the new appliances.

If you have the means to buy a flat, then go for it. I saved on the rent that I used to pay. Now the CPF is paying for the monthly ammortization to the bank. That freed up some cash for savings and paying for other expenses.

can a single 35 years old permanent resident buy a 3bedroom HDB flat? I just turned 35 early this year and is thinking of buying a flat. however - a friend told me that I can only buy if I am married.

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can a single 35 years old permanent resident buy a 3bedroom HDB flat? I just turned 35 early this year and is thinking of buying a flat. however - a friend told me that I can only buy if I am married.

Yes you can but only in the open market(resale flats).Be prepared for a high COV as the 3R flats are in high demand now regardless of the area.

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Yes you can but only in the open market(resale flats).Be prepared for a high COV as the 3R flats are in high demand now regardless of the area.

err if i am not wrong... PR cannot buy HDB unless form a nucleus family...

even for resale..

however, 2 PRs like brothers can buy HDB together

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  • 3 weeks later...
Guest somebody

With the anti-speculation measures on HDB/Pvt announced, there will be a better chance to get our ideal flat at reasonable price.

Very unlikley, as measures are more to curb private holders from profiteering from HDB.

The BTOs are the real solutions, but far too long, as HDB reacted too slow, thanks to MBT.

People who are in need will still buy from the open market.

You will see COVs lowering only mid - end next year...my guess.

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Very unlikley, as measures are more to curb private holders from profiteering from HDB.

The BTOs are the real solutions, but far too long, as HDB reacted too slow, thanks to MBT.

People who are in need will still buy from the open market.

You will see COVs lowering only mid - end next year...my guess.

private property is more for ppl to invest and foreigner or single to stay, no idea why government keep control private property prices going up and hdb is more for low to medium income ppl n government give subsidia thats why i think they should control the hdb price keep going up.....

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With the anount of $ to buy 3R Hdb, why dun we go JB to buy a landed property in the same vicinty instead, we can form a gay community hub there...tat's my only suggestion and is alway my dream to have AJ neighbourhood to take care of each other. If we really cannot afford the living standard here any more. How does it sound???

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I feel if the latest measures can soften the COV; which is the greatest hurdle; more single will commit to their own flat. The trend for the next few months will be interesting.

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I feel if the latest measures can soften the COV; which is the greatest hurdle; more single will commit to their own flat. The trend for the next few months will be interesting.

It will still be tough to support it as valuation has gone high as well, other than COV.

Prime areas near to MRT/Interchange(not even walking distance) are already hovering at 300K above.

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Guest HDBresident

As time passes, more HDB flats will hit the 5 years mark which means more flats may be put into the resale market. How prices trend from now on, I dont think anybody can tell.

One thing for sure is single will lose out because this group can only buy from the higher priced resale market.

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  • 1 month later...
Guest indecorum

Hi guys, am Singapore and turning 35 soon, hoping to get a place of my own soon. Is it possible to purchase a resale 3 room flat of my own? Which means I have no intention of any joint ownership. For resale flats, is there any income ceiling to get a 3 room flat?

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Hi guys, am Singapore and turning 35 soon, hoping to get a place of my own soon. Is it possible to purchase a resale 3 room flat of my own? Which means I have no intention of any joint ownership. For resale flats, is there any income ceiling to get a 3 room flat?

You can buy your own 3-rooms hdb when you turn 35 (after your birthday). However, 3-rooms hdb in the open market are limited and price could be high comparable to 4-rooms.

No need of any joint ownership but not too sure of any income ceiling limitation.

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you can buy 3R direct from HDB if you are >=35, subject to income ceiling cap.

there is no restriction if you are getting from resale (except that you cant get HDB loan if you are above the cap)

Hi guys, am Singapore and turning 35 soon, hoping to get a place of my own soon. Is it possible to purchase a resale 3 room flat of my own? Which means I have no intention of any joint ownership. For resale flats, is there any income ceiling to get a 3 room flat?

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You must meet the requirement of income ceiling ($3000 and below per month) if you choose to apply for the grant (CPF housing grant and / or HDB loan).

MOP of 5 yrs is there to stay wef 30th aug, regardless of HDB loan or bank loan.

HDB website offers the latest up to date info (they better do!). Happy flats hunting. :)

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  • 1 month later...
  • 3 months later...
Guest amidst_the_stars

What if we choose to stay in a studio apartment or a 2 bed-room private apartment? Would it be very costly as compared to renting a HDB flat as we can't own one till we are 35?

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Guest Local Plus Plus

Pro-family.

So are they saying people with family have more rights?

Govt has institutionalised discrimination against the singles?

More pressing needs?

What next? Tax the singles more? I know they do that in France.

So cheeb@i uh...

Chow cheeb@i.

Reply from HDB.

Frankly what if I'm an adult and I don't want to stay with my family and i don't want to have mutual care and support and all I want is a sex nest so that I can have people over to f'ck till my head spins over the weekend?

How do people like me fit into the successful Sg's plan?

I REFER to the letter, 'Why not sell new flats to singles instead?' by Mr Chew Chee Meng (ST, Feb 4).

The HDB sells subsidised new flats to eligible family-based citizen households as they have more pressing housing needs. This is in line with the pro-family objective of our public housing policy.

At the same time, the Government recognises the contributions of singles to our nation and the need to give them a stake in Singapore's success. Citizen singles have various options to meet their housing needs.

For example, they can buy a new flat with their parents as a family nucleus to stay together for mutual care and support. Those who are at least 35 years old and have not previously enjoyed any housing subsidy can apply for an $11,000 CPF housing grant when they buy a resale flat. They also enjoy an HDB concessionary loan if they meet the eligibility criteria.

The HDB has also allowed citizen singles to buy new HDB flats. Last year, the HDB sold 100 units of five-room and executive flats from its unsold stock as resale flats at market price, on a pilot basis. Of these, 20 units were bought by singles. First-timers who were eligible for the CPF housing grant for singles could use the grant to defray the flat price.

As for the small number of five-room and executive flats the HDB plans to let out through managing agents at market rent, we would like to clarify that they are units that have remained unsold despite repeated offers. Rather than leave them vacant, letting them through managing agents will allow the HDB to put them to better use on a temporary basis.

We would like to assure readers that the HDB reviews its housing policies regularly to ensure they stay relevant to the changing environment and needs of different groups of flat buyers.

Kee Lay Cheng (Ms)

Deputy Director (Marketing & Projects)

For Director (Estate Administration & Property)

Housing & Development Board

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Guest renter

What if we choose to stay in a studio apartment or a 2 bed-room private apartment? Would it be very costly as compared to renting a HDB flat as we can't own one till we are 35?

Aren't single bedroom or studio apartments (ca. 500sqft) more expensive than 4/5 HDB flats?

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Singles are treated as 2nd class citizen here,

singles also pay tax as like other citizen who are married,

singles also need to serve NS!

having said that, can singles pay less Tax cuz they cant enjoy citizens previledges,

can singles serve less years of NS cuz they are not enjoy benifits as other married citizen!

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Guest renter

5 more years and i will be eligible to buy.

i dont mind buy resale flat that is actually unsold new unit, at least i m the first owner hehe.

Even if say, it is on the second/third floor facing the common rubbish dump where you have to shut the windows everyday day to block off the stink?

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Guest amidst_the_stars

Sorry cuz I am really new to this stuff. Need help from the more experienced members here.

Whats the meaning of COV and what constitutes a nucleus family? And what does a resale flat actually mean?

So for PLUs like us, if we can't afford to buy a resale flat buy the time we are 35, what are our alternatives?

Is it staying in our parents' flat, renting an apartment or flat or room outside ?

Also, may i know what's the cost of a 4-room flat in Pasir Ris/Loyang?

In addition, for those who are staying in private apartments, how much do you all have to pay for it. If its rented , what's the rental fees like especially for those staying in Pasir Ris/Changi/Loyang/Tampines?

My ideal location is to live in the East area btw.

Hope any of you can answer my queries thanks.

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Guest amidst_the_stars

Btw, is it true that singletons can buy a flat of their own under their parents' name but, once they reach 35, they transfer the name back to their own? But of cuz payments are made by the singletons solely. Is this method reccomended?

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Sorry cuz I am really new to this stuff. Need help from the more experienced members here.

Whats the meaning of COV and what constitutes a nucleus family? And what does a resale flat actually mean?

So for PLUs like us, if we can't afford to buy a resale flat buy the time we are 35, what are our alternatives?

Is it staying in our parents' flat, renting an apartment or flat or room outside ?

Also, may i know what's the cost of a 4-room flat in Pasir Ris/Loyang?

In addition, for those who are staying in private apartments, how much do you all have to pay for it. If its rented , what's the rental fees like especially for those staying in Pasir Ris/Changi/Loyang/Tampines?

My ideal location is to live in the East area btw.

Hope any of you can answer my queries thanks.

COV means "Cash Over Valueation" This is the amount that the seller puts on top of the valuation of the flat. For example, if a flat is valued at 300K, the extent of renovations done, special finishes, location of the flat determines the additional amount, say 30K so that the selling price becomes 330K.

Nucleus family means there is a father, mother and children.

Resale flat means the unit is not brand new and is sold in the open market.

If one cannot afford to buy a resale flat before 35, choices are live with parents, rent a flat with friends.

Check out the classified ads for units for sale, you will get a better idea what is available in the area that you prefer.

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Guest amidst_the_stars

COV means "Cash Over Valueation" This is the amount that the seller puts on top of the valuation of the flat. For example, if a flat is valued at 300K, the extent of renovations done, special finishes, location of the flat determines the additional amount, say 30K so that the selling price becomes 330K.

Nucleus family means there is a father, mother and children.

Resale flat means the unit is not brand new and is sold in the open market.

If one cannot afford to buy a resale flat before 35, choices are live with parents, rent a flat with friends.

Check out the classified ads for units for sale, you will get a better idea what is available in the area that you prefer.

Wait, so singletons who are below 35 are not allowed to buy new and upcoming HDB flats, but are allowed to buy resale HDB flats then?

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Guest Guest

I have some friends who are singles and above 35 and they bought resale HDB flat.

They went for a 3 room flat because as single, they probably do not need too much space and also 3 room flat are more affordable.

But they spent quite a lot renovating the flat. I guess that is a way of pampering themselves. After the renovation, the flat really looks like a condo.

But of course the moment you step out of the flat, it is still HDB.

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Guest Guest

I heard the cost of a 3rm flat now is between $250K to $300K, depending on location.

Which means that if you are buying it alone, you may need to have more than $200K in you CPF ordinary account (cos you can't use the full amount) and cash savings of more than $60K for the COV, legal fees, renovation and furnishing of the flat.

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Guest amidst_the_stars

Oh...to accumulate $200k in your CPF in less than 10 years...is not possible unless I am earning like a minimum of $8k a month. Which is rather impossible too. Sigh. Property costs in SG is skyhigh. But I would like to move out of my parents' home soon after grad.

The only alternatives for myself is:

1)share a 5/4 room/executive HDB flat with friends.

2)Rent a room in a private apartment/condo .

3)Don't move out.

4)Rent a studio apartment.

I like to own a place of my own in the long term. For me, a 1-2 bedroom private apartment is kind of my ideal. However its pretty ex. Anyone has any suggestions ? Is renting a good option in the long-run especially for method 2?

And thanks to the other guests and users for your info on property. Oh, does anyone know any sources to read up extensively on SG property ?

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If you are under 35 and have yet to start work, do your Mathematics first.

A fresh graduate dont earn much and since this is probably the first time you (actually)

work, then you will likely use more than 60% of your pay on your expenditure. You will be very conscious of your grooming and image - new set of clothes for work, a good leather briefcase/messenger bag and good leather shoes.

You still need to 'pay back' your study loan.... plus it is almost necessary to give some sum of money to your mother ... just think of it as rental and usage of the kitchen/free food.

So unless you work in a uniformed environment, for first 5 years of a normal working life, you are unlikely to save very much.... unless you forgo all life's pleasure.

On the same note, I would advise youngsters to start saving every possible penny in order to buy a decent unit... buy a smaller 3-room unit first.. Dont think of private condo because the management fee is fairly high compared to that of a HDB flat.

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Guest Thaiboyz

As a 35 and above, I have bought my own flat from the resale market. I had no intention to get it initially as I was staying in my condo. I bought over from a needy friend who wanted to sell his flat to save his failing business. Perhaps I was lucky to bought my flat before the measures which only allowed a person to own either a private ptx or HDB flat. Under the new measures, Ownership of private ptx can only be allowed after staying in the same HDB flat for at least five years.

HDB's regulations do not allow anyone to rent out his whole flat without strong valid reasons. Illegal letting out should be carried out nowadays especially they have confiscated 39 units due to this cause.

Hence I decided to keep both. Renovated my flat and moved in happily. Luckily my estate is relatively new and less populated, not so bad lah except no condo facilities.

My advice to potential flat owners is to work out yr budget carefully and search hard for yr preferred flat. Flat price is expected to fluctuate slightly but I dun think there will be a swing.

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It also makes sense for singles to wait till after 35 to buy. You'd have been in the workforce long enough, and (hopefully) have stable CPF/savings already. The other plus is that you can then buy HDB flats in mature estates - AMK, Tiong Bahru, Queenstown, Bedok. I know a number of single friends who'd jump for those quaint art deco homes in Tiong Bahru and those terraced units at Queenstown (yep, >35 before you can buy them on resale market).

Take the point Abang made - do your math first. Assuming you graduate at 24, you'd have at least 10 years or more to build up your career and your nest egg. The smart ones stay frugal and go for their dream homes. And resale flats are not cheap, though most of them are pretty worth the price, if you do your sums right.

We're single anyway, and even with a partner, a 3-room flat is really enough. It'll be your nest to return to. And often, simple little things can make it home already, not necessarily do you have to splurge.

Instagram @the_meowprince

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Guest amidst_the_stars

Oh ok thanks for the advice. I won't grad until I am 26-27 :( .

Actually I just want to stay in a small, private apartment at changi/pasir ris/loyang. But yeah the prices are too steep unless i can share the costs with a roommate or 2. Yeah maybe its time to start saving....

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Maybe? No, it's time to starts saving right NOW. :thumb:

Yes, singles can only buy Resale HDB flats, regardless of the size (3 room onwards). A typical 3 room HDB, for Mr amidst_the_stars preference in the east (tampines, bedok, marine parade etc) ranges from $300k to $400k, depending on location, amenities, floor, facing etc.

You have to ask yourself: do you need a huge flat (i.e 4-5 rooms) if you intend to stay alone, unless you have the intention to rent out the rooms. (you may do the same for a 3 room HDB) Plus the rebates given by the govt is more, for smaller size flats.

I do not promote renting an apartment in the long run, except for interim reasons like house under renovation; you are PR with intention going back to hometown eventually. This is because, the amount of rent you pay, may ended up good enough for your future home deposit, renovation fees etc.

Houses in the East are not cheap. I love the East too as i grew up here... I just have to work harder/smarter and save more. ;)

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Been a loyal Pasir Ris resident for years ...

Yes ... Wanting to move out to a small cosy condo in the east too ... Saw lots of show flats and stuff ... But never had the enough money even for downpayment for a small 2 bed room condo unit ...

The thing is ... Are you really in a hurry to move out on your own ??? If not , earn , save and invest in other means and ways to grow your money first ... Living with your parents aint that bad ...

Dont jump onto the bandwagon prematurely and land yourself 6 feet deep in loans and debts ...

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With the current CPF rates, with a monthly income of $5000, you can only accumulate about $1035 in your ordinary account.

Simple calculation will show that even with an average income of $5000, you need to work almost 200 months to reach $200,000 in the CPF ordinary account, which means about 16 - 17 years!

Earning lesser will just translate into a correspondingly longer wait, unless you are a great saver with a large savings account.

However, i think you can still team up with a committed partner or a sibling / relative also above 35 to purchase the flat together with combined CPF contribution.

Edited by Anderson
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Guest alien

Looks like it is not easy to buy a flat, even a 3 rm flat by urself when u reach 35 yr old. Unless u are really cash rich and salary very high, if not seems like one's has to wait older, maybe 40 yr old or more to be able to afford to buy a house.

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Looks like it is not easy to buy a flat, even a 3 rm flat by urself when u reach 35 yr old. Unless u are really cash rich and salary very high, if not seems like one's has to wait older, maybe 40 yr old or more to be able to afford to buy a house.

The fact is your annual increment can never catch up ith the valuation of the resale flat, unless recession.

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Guest dark_jedi

i used to have this funny tot haha - when we reach the appropriate age, to get a place with frens, those who have no intention of getting attached or who wished to remain single...so that we can stay together in a grp, to provide support esp in our later years since we wont have kids...

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Guest alien

i used to have this funny tot haha - when we reach the appropriate age, to get a place with frens, those who have no intention of getting attached or who wished to remain single...so that we can stay together in a grp, to provide support esp in our later years since we wont have kids...

You must be able to get friends who are seriously ramain single and also same frequency, cos staying together is not the same as going out with them for movie or dinner. Other alternative is maybe u can buy flat nearby each other, so that can easily visit each other.

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