Jump to content
Male HQ

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


worldangel

Recommended Posts

Link to comment
Share on other sites

5 hours ago, Guest guest said:

Agreed, we cannot choose our neighbours, whether you are buying new BTO or resale. Even for resale, you cannot tell if the neighbour staying same floor, below or above your unit is nuisance or not.

 

Like my current house, the neighbour staying above me is an idiot, always hear knocking sound on the floor, running in the house, dragging things on the floor and stomping sound. Already complaint to HDB but noise still same. And useless HDB asked me to go mediation centre to resolve my case and they cannot do anything about it. And i find out that i still need to pay for the stupid mediation centre before they will entertain my case. Also there is no guaranteed that the noise issue will be resolve. 

Even if you currently have lovely neighbours, doesn't mean that they will always stay put. A new owner might come in, and be a neighbour from hell!

 

As for myself, my neighbour burns joss paper in a container along the corridor twice a month (on the first and fifteenth day of the lunar calendar). The ash and smoke will always enter my flat. What can I do? I know that complaining to HDB will not change anything, and they are unlikely to move out. What to do? Suck thumbs lor...

Слава Україні!

Link to comment
Share on other sites

Guest Wait and C

2-room BTO will be saturated in the resale market in 5 years time, once MOP is met.   I doubt can fetch higher price due to more choices and also remote area.  Those near city or matured estate may have higher chance of profiting a little but will not be selling like more than $300K range due to size.

Link to comment
Share on other sites

Just looked at the West Coast SERS site, and realised that it is the plot that is adjacent to the new West Coast MRT station, on the Cross Island Line. This is similar to the SERS site next to Clementi MRT, which will be the next to the site of the Clementi MRT Station on the Cross Island Line. I think that the SERS on these sites will help in the construction of the MRT stations involved, as they need a staging area (none locally at the moment). And post completion of the MRT construction, these plots can be further developed into higher plot ratio commercial/residential developments.

Слава Україні!

Link to comment
Share on other sites

2 hours ago, sgmaven said:

Even if you currently have lovely neighbours, doesn't mean that they will always stay put. A new owner might come in, and be a neighbour from hell!

 

As for myself, my neighbour burns joss paper in a container along the corridor twice a month (on the first and fifteenth day of the lunar calendar). The ash and smoke will always enter my flat. What can I do? I know that complaining to HDB will not change anything, and they are unlikely to move out. What to do? Suck thumbs lor...

Burning of joss paper only twice a month, i find still bearable. Unlike my upstairs idiot neighbour making noise everyday. As early as early morning or late nights, depending on their mood.

Link to comment
Share on other sites

2 hours ago, Guest Wait and C said:

2-room BTO will be saturated in the resale market in 5 years time, once MOP is met.   I doubt can fetch higher price due to more choices and also remote area.  Those near city or matured estate may have higher chance of profiting a little but will not be selling like more than $300K range due to size.

Many resale 2 rm flats are selling now at $300k plus, even for non mature estate.

Link to comment
Share on other sites

54 minutes ago, sgmaven said:

Just looked at the West Coast SERS site, and realised that it is the plot that is adjacent to the new West Coast MRT station, on the Cross Island Line. This is similar to the SERS site next to Clementi MRT, which will be the next to the site of the Clementi MRT Station on the Cross Island Line. I think that the SERS on these sites will help in the construction of the MRT stations involved, as they need a staging area (none locally at the moment). And post completion of the MRT construction, these plots can be further developed into higher plot ratio commercial/residential developments.

Same like the AMK SERS site, they are also going to build MRT there in future. But why macpherson  that site got SERS? Don't think they are building any MRT there.

Link to comment
Share on other sites

1 hour ago, Guest guest said:

Burning of joss paper only twice a month, i find still bearable. Unlike my upstairs idiot neighbour making noise everyday. As early as early morning or late nights, depending on their mood.

I also had a family living downstairs, where the husband/father of the family used to do carpentry work in their flat (DIY and what not) after 10pm. I went downstairs to talk to them, asking them to stop, as it was past 10pm, and the guy became aggressive. I wasn't even being aggressive, or using any strong language, just asking them to keep the volume down, since it was late at night. Yes, there are all sorts of neighbours.

 

I do know a family in the Mount Sinai/Henry Park area, who will play music on their stereo/Hi-Fi at loud volumes into the early hours of the morning. You can clearly listen to the music play, even when seated across the road from the house (I think those who live in that neighbourhood will all know which house I am referring to). I am sure that people must have tried to speak to the owners before, but no changes in practice has happened, and you still can "listen" or "enjoy" whatever they are playing at 2 am in the morning (not just weekends, but weekdays as well).

Edited by sgmaven

Слава Україні!

Link to comment
Share on other sites

13 minutes ago, sgmaven said:

I also had a family living downstairs, where the husband/father of the family used to do carpentry work in their flat (DIY and what not) after 10pm. I went downstairs to talk to them, asking them to stop, as it was past 10pm, and the guy became aggressive. I wasn't even being aggressive, or using any strong language, just asking them to keep the volume down, since it was late at night. Yes, there are all sorts of neighbours.

 

I do not a family in the Mount Sinai/Henry Park area, who will play music on their stereo/Hi-Fi at loud volumes into the early hours of the morning. You can clearly listen to the music play, even when seated across the road from the house (I think those who live in that neighbourhood will all know which house I am referring to). I am sure that people must have tried to speak to the owners before, but no changes in practice has happened, and you still can "listen" or "enjoy" whatever they are playing at 2 am in the morning (not just weekends, but weekdays as well).

Difficult to find neighbours that do not create a nuisance to others, no matter whether staying in hdb or private. Most people are inconsiderate and insensitive.

Link to comment
Share on other sites

1 minute ago, Guest guest said:

Difficult to find neighbours that do not create a nuisance to others, no matter whether staying in hdb or private. Most people are inconsiderate and insensitive.

I think it more of a cultural thing, and a national psyche. Not sure if things were significantly different when most of the local population lived in squatter colonies and kampongs? I doubt so. Compare that with some other countries, like in Japan, where the consideration of others and the community is paramount.

Слава Україні!

Link to comment
Share on other sites

Guest Big Boy
11 hours ago, Guest Guest said:

Many resale 2 rm flats are selling now at $300k plus, even for non mature estate.

2 rm are more likely to depreciate faster than 3-room flat down the road.  Like the size of cock, it matters.  

Link to comment
Share on other sites

On 11/26/2022 at 10:57 PM, Guest guest said:

They could be full pay the house after selling their existing flat?

I am afraid, their capital return may not be a lot.  Selling 3-room for $350K, buy 2-room short lease for (how much?).  Net amount minus relocation cost, renovation and CPF retirement.  This down-grading to short least flat wasn't being discussed at greater length by our government.   I fear the elderly may be short-changed. 

Link to comment
Share on other sites

I think many people forget that whatever CPF monies that they used to pay for their housing loan, will be clawed back by the CPF after the sale of that property. So, if they withdrew a significant amount of CPF monies to pay for their housing loan of their flat, even if it is fully-paid-up, they might not get a single cent after they downgrade to the 2-room flexi flat.

Слава Україні!

Link to comment
Share on other sites

12 minutes ago, sgmaven said:

I think many people forget that whatever CPF monies that they used to pay for their housing loan, will be clawed back by the CPF after the sale of that property. So, if they withdrew a significant amount of CPF monies to pay for their housing loan of their flat, even if it is fully-paid-up, they might not get a single cent after they downgrade to the 2-room flexi flat.

Many folks, particularly the elderly, were unaware of this "trap" in full.   Other than pressuring them to downgrade, our government, HDB, and CPF did not do enough to enlighten or educate the movement of their eventual HDB sale proceeds. They simply intended to lock the money belonging to the elderly into the CPF, which I feel to be quite unethical.

Link to comment
Share on other sites

17 minutes ago, Why? said:

Many folks, particularly the elderly, were unaware of this "trap" in full.   Other than pressuring them to downgrade, our government, HDB, and CPF did not do enough to enlighten or educate the movement of their eventual HDB sale proceeds. They simply intended to lock the money belonging to the elderly into the CPF, which I feel to be quite unethical.

Who pressured the elderly folks to downgrade? Other than their own financial situation.

Link to comment
Share on other sites

17 minutes ago, Why? said:

Many folks, particularly the elderly, were unaware of this "trap" in full.   Other than pressuring them to downgrade, our government, HDB, and CPF did not do enough to enlighten or educate the movement of their eventual HDB sale proceeds. They simply intended to lock the money belonging to the elderly into the CPF, which I feel to be quite unethical.

I think it is just them not explaining things carefully enough. As for locking the money in the CPF, it is to make sure that most elderly Singaporeans have some money to give them some form of recurring income during their later years. You'll be surprised how many squandered their CPF money on silly things, like gambling at the IRs at MBS or Sentosa!

Слава Україні!

Link to comment
Share on other sites

1 hour ago, sgmaven said:

I think many people forget that whatever CPF monies that they used to pay for their housing loan, will be clawed back by the CPF after the sale of that property. So, if they withdrew a significant amount of CPF monies to pay for their housing loan of their flat, even if it is fully-paid-up, they might not get a single cent after they downgrade to the 2-room flexi flat.

even if they are at the age where they can withdraw their cpf?

Link to comment
Share on other sites

4 minutes ago, persianblue said:

even if they are at the age where they can withdraw their cpf?

Affects those who are looking for a quick buck or in financial constrains. The locking up is to prevent such cases of ending up in the streets.

 

Above the age of 55 and with FRS (full retirement sum) without housing, you can ATM anytime from CPF the excess.

Link to comment
Share on other sites

21 hours ago, sgmaven said:

I think it more of a cultural thing, and a national psyche. Not sure if things were significantly different when most of the local population lived in squatter colonies and kampongs? I doubt so. Compare that with some other countries, like in Japan, where the consideration of others and the community is paramount.

I think the only way to resolve noise from the neighbors, the authority has to implement mandatory law to punish those neighbors if they are creating nuisance to others, like fine or even jail term. Then these people would be scared. Since currently no penalty made against them, this is why they would continue to create nuisance without caring much.

Link to comment
Share on other sites

21 hours ago, kidster said:

Now the layout of the 2 rm flat, the toilet no longer attached to the bedrm and it stand alone outside the bedrm? I remember 2 rm flat layout is there are 2 doors inside the toilet, one lead to the bedrm and the other lead to the kitchen.

Link to comment
Share on other sites

2 hours ago, Why? said:

I am afraid, their capital return may not be a lot.  Selling 3-room for $350K, buy 2-room short lease for (how much?).  Net amount minus relocation cost, renovation and CPF retirement.  This down-grading to short least flat wasn't being discussed at greater length by our government.   I fear the elderly may be short-changed. 

In this case what is the best way then? Buying 2 rm flat first, value will depreciate fast down the road? Then if buy a resale 3 rm, need to fork out more money due to higher price? Then if later sell 3 rm and downgrade to 2 rm, capital return may not be a lot?

Link to comment
Share on other sites

2 hours ago, sgmaven said:

I think many people forget that whatever CPF monies that they used to pay for their housing loan, will be clawed back by the CPF after the sale of that property. So, if they withdrew a significant amount of CPF monies to pay for their housing loan of their flat, even if it is fully-paid-up, they might not get a single cent after they downgrade to the 2-room flexi flat.

But they can use the clawed back money back to CPF to pay for their next house.

Link to comment
Share on other sites

3 minutes ago, Guest guest said:

But they can use the clawed back money back to CPF to pay for their next house.

Of course, but many people think that they will be able to cash-out when they downgrade, forgetting that the claw-back often means that you don't get any money in cash, but some additional money in the CPF (which can go towards hitting the minimum sum).

Слава Україні!

Link to comment
Share on other sites

Oct 30, 2022

TLDR of the 9 BTO sites in 5 locations with 9,540 units spread across Bukit Batok, Tengah, Kallang/Whampoa, Yishun and Queenstown. HDB is offering x2 units from the previous launch in August. So does this mean you have a higher chance of securing a unit this time round? Covering different aspects and points to consider such as which BTO suits you the best, the attractiveness of each project, amenities, and the potential of future developments. #99co #nextstop #bto #hdb

[Timestamp]: 0:00 Introduction 0:52 Overview of the BTO projects 1:39 Interesting feature - New cooling measures 3:49 Interesting feature - Car-lite areas 4:48 Interesting feature - Community Care Apartments 7:35 Stack placements 9:19 Tengah area 10:18 PLH Projections 13:17 Kampung Bugis 13:32 Will this launch be oversubscribed? 17:19 New first-timer quota 19:50 Appreciation value 21:37 Rental opportunities 23:30 Outro Read up on the BTO overview article here: https://www.99.co/singapore/insider/n...

Link to comment
Share on other sites

For those with paltry income seeking big and cheap HDB, tell your agent that you don't mind stigmatised flats. The more horrible the incident occured within the flats, the lower the asking price. If you can overcome this fear factor, you will be alright in the long run.

 

Maturer estate got more unit to choose from.

Link to comment
Share on other sites

20 hours ago, Guest Guest said:

For those with paltry income seeking big and cheap HDB, tell your agent that you don't mind stigmatised flats. The more horrible the incident occured within the flats, the lower the asking price. If you can overcome this fear factor, you will be alright in the long run.

 

Maturer estate got more unit to choose from.

Mature estate overall flats quite ex, and also more old flats.

 

Where got so many stigmatised flats available even you don't mind buying one. 😅

Link to comment
Share on other sites

2 hours ago, keyboard said:

Application Rates

https://services2.hdb.gov.sg/webapp/BP13BTOENQWeb/AR_Nov2022_BTO?strSystem=BTO

Yishun almost all will get, Singles 1.9 overall 1.0 only.

The demand for BTO flats still quite high, many applications received far exceeded the numbers of units available.

The SBF even worst, not even a chance to get selected.

Link to comment
Share on other sites

On 11/10/2022 at 7:41 PM, keyboard said:

2020 news ah. Why we're in this situation and not going to improve.

https://www.straitstimes.com/singapore/politics/parliament-annual-number-of-new-prs-and-citizens-stable-for-last-5-years-says

22,100 new citizens every year on average (say all are married, numbers divide half then reduce kids).

https://www.population.gov.sg/files/media-centre/publications/population-in-brief-2021.pdf

Number of marriages involving at least one citizen (2020): 19,430

 

1 hour ago, Guest guest said:

The demand for BTO flats still quite high, many applications received far exceeded the numbers of units available.

The SBF even worst, not even a chance to get selected.

It won't be in the situation where units are enough, if not, who's going to support the resale market where all the CPF monies is. The perfect storm is when a series of events go bad together to form a catastrophic failure.

 

SBF is 有卖有希望 and it's better chances even i feel.

Link to comment
Share on other sites

2 hours ago, persianblue said:

what's considered an acceptable remaining lease for a resale flat for someone in their 30s or 40s?

Throwing out random figures based on personal opinion.

Largely based on what plans you intend to have and $$ in pocket (payment up to 30% of income + age 65)

1. BTO to 5 yr MOP most profitable

2. Resale at 5 yr for 4 room can go to 5-600k at "ulu" places near MRT

3. Appreciation slows down over years 5-25ish

4. Peak at 45-50 yrs

5. 45 yrs and above hard to re-sell in open market because of loan quantum (means buyer have to pay in full cash + cpf)

6. Flats older than 20 yrs require minor renovation, taps spoil, toilet flush, light switches etc

7. Flats older than 40 yrs require moderate renovation and risks like paint falling off ceiling, electricity circuit boards failure etc

8. Senior BTO flats eligible upon age 55 (2 room)

9. Oldest HDB is like 65 yrs? If SERS you will have to force downgrade unless you have future money to retain the same market value of same size (because you pay for new 99 yrs lease)

10. Things are not made to last 99 years

Link to comment
Share on other sites

4 hours ago, persianblue said:

what's considered an acceptable remaining lease for a resale flat for someone in their 30s or 40s?

If you look at how the government looks at it, they want you to have a roof over your head until at least 95. This is from their guidelines for the 2-room flexi flats that they sell to seniors with shorter leases.

Слава Україні!

Link to comment
Share on other sites

Honestly, there is no use buying a property with their lease running too low. Can you imagine having to shift to a new place when you are in your 80s? Unless you can hire movers to pack your stuff and move it for you, I think it will probably cause a lot of unwanted stress. Also, having then to find the money to buy or rent in your 80s... Remember that most banks wouldn't really want to lend money to people at that age.

Слава Україні!

Link to comment
Share on other sites

Just to add on - one of my fears on staying in an older flat. Might not be you, but could happen to your neighbours.

The recent fire at 91 Henderson Road - that block was completed in 1975 (47 years old) and suspected electrical fire at 11:10am.

Old (especially toilets that have designs that don't ventilate well) will have problems with spalling concrete. Imagine dying when struck while pooping.

With PMD being a thing, fires tend to burn more intensely if you have more combustibles. So evacuation routes and not being able to live in the flat for a few weeks aftermath is pretty inconvenient if you're elderly (of course usually will have volunteer to gift you stuff and help clean up).

 

This one super sensationalize article.

https://www.channelnewsasia.com/singapore/91-henderson-road-fire-firefighter-died-family-evacuate-3133846

Link to comment
Share on other sites

3 hours ago, keyboard said:

Just to add on - one of my fears on staying in an older flat. Might not be you, but could happen to your neighbours.

The recent fire at 91 Henderson Road - that block was completed in 1975 (47 years old) and suspected electrical fire at 11:10am.

Old (especially toilets that have designs that don't ventilate well) will have problems with spalling concrete. Imagine dying when struck while pooping.

With PMD being a thing, fires tend to burn more intensely if you have more combustibles. So evacuation routes and not being able to live in the flat for a few weeks aftermath is pretty inconvenient if you're elderly (of course usually will have volunteer to gift you stuff and help clean up).

Elderly tends to keep things even if got not much use to them,  but is the feeling attached to these things. If the house is full,  they will just leave at corridor which disrupt evacuation route should there be a need to evacuate. 

 

Despite so many PMD related fire that broke out,  people are still taking chances. Likewise for those burning candles that are not attended to, that is also a very dangerous and inconsiderate act.

Edited by lonelyglobe
Link to comment
Share on other sites

10 minutes ago, lonelyglobe said:

Elderly tends to keep things even if got not much use to them,  but is the feeling attached to these things. If the house is full,  they will just leave at corridor which disrupt evacuation route should there be a need to evacuate. 

 

Despite so many PMD related fire that broke out,  people are still taking chances. Likewise for those burning candles that are not attended to, that is also a very dangerous and inconsiderate act.

Totally agree. There's always a bias with blocks that now are mixed with 2-rm, 3-rm, rental etc. Heck, even at 4-rm, I have an upstairs neighbour that will hang wet clothes (they are the highest unit). You never know what/who you'll get. I don't think I'm a good neighbour either since my neighbour is accusing us of doing things. So, what to do...

 

The 5-rm and EA blocks (units in a triangle shape), their common corridor is only metal railings and you can see the amount of stuffs they chain to the railing just from the ground floor.

Link to comment
Share on other sites

10 hours ago, keyboard said:

Just to add on - one of my fears on staying in an older flat. Might not be you, but could happen to your neighbours.

The recent fire at 91 Henderson Road - that block was completed in 1975 (47 years old) and suspected electrical fire at 11:10am.

Old (especially toilets that have designs that don't ventilate well) will have problems with spalling concrete. Imagine dying when struck while pooping.

With PMD being a thing, fires tend to burn more intensely if you have more combustibles. So evacuation routes and not being able to live in the flat for a few weeks aftermath is pretty inconvenient if you're elderly (of course usually will have volunteer to gift you stuff and help clean up).

 

This one super sensationalize article.

https://www.channelnewsasia.com/singapore/91-henderson-road-fire-firefighter-died-family-evacuate-3133846

I think fire break out in HDB more likely due to user problem than the age of the flat. Since there are also newer BTO flat which got fire outbreak. Even though older flat due to wear and tear, things might expose to risk of fire etc. But it is the responsible of the house owner to look out for any defect parts inside the house and not bo chap attitude. 

Link to comment
Share on other sites

On 12/10/2022 at 7:20 PM, sgmaven said:

Honestly, there is no use buying a property with their lease running too low. Can you imagine having to shift to a new place when you are in your 80s? Unless you can hire movers to pack your stuff and move it for you, I think it will probably cause a lot of unwanted stress. Also, having then to find the money to buy or rent in your 80s... Remember that most banks wouldn't really want to lend money to people at that age.

Not all old flats will get SERS, and very high chance majority of the old flats would not get SERS, so if you stay in flat that can last until 95 year old, should be quite safe even you bought an old flat. Even if your flat got SERS and you are in your 80s, no choice but still need to move. You see the Tanglin Halt SERS, many of the flat owners in Tanglin Halt should be at least 65 year old and above, but all of them also managed to move to their replacement flat.

Link to comment
Share on other sites

12 hours ago, Guest guest said:

I think fire break out in HDB more likely due to user problem than the age of the flat. Since there are also newer BTO flat which got fire outbreak. Even though older flat due to wear and tear, things might expose to risk of fire etc. But it is the responsible of the house owner to look out for any defect parts inside the house and not bo chap attitude. 

I do think there is that group of people who cannot afford or are too old to have the energy to bother about such things. Without knowledge of safety and would never think of wear and tear in places they cannot see. They could also be the original owners in their 70s and not done any re-works to keep up to latest safety standards.

Link to comment
Share on other sites

  • 1 month later...
Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...