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

[Why?]

On 3/30/2023 at 12:10 AM, Guest Guest said:

Condo, HDB rents rise, volume drops in February; more tenants resist rent hikes

If tenants resist hike, where will they stay?  Landlord insist hike still got place to stay, which is why the volume drops as more landlords didn't want to budge.

Edited April 4, 2023 by Why?

[Guest Guest]

If HDB resale prices remained red hot, many will consider buying stigmatised properties. 

 

Record 21 4-room HDB resale flats sold for over S$1m in Q1 2023; analysts expect trend to continue

[Guest 55 Year Old Senior]

So given a choice, would you choose a short 40 year lease (till age 95) or a long / balanced 99 year lease for your HDB flat purchase? How do we choose & make the right decision? Thanks for your kind advice 👍

[Guest guest]

Can i ask, if i am planning to sell and buy, would it be advisable to get the same property agent to handle selling of my current flat and also handle the sourcing of my next flat?  Will it be a conflict of interest? What is the current agent commission that need to pay?

[Guest Guest]

When parents and daughter fight over an HDB flat

[Guest Guest]

I got a ballot number that exceeds the number of flats available. 

 

Their rationale is that there will be people not choosing a flat so I still stand a chance.

 

The frustrating thing is this: those with a better ballot number would have chosen the desirable flats (bigger and/or higher level), and the undesirable/leftover flats are pushed to me for selection.

 

If I don't select, they regard this as rejecting their offer and will penalise me by removing the additional chances I have accumulated over the past BTO when I was not given a ballot number. 

 

If I choose, I am forced by circumstance to select the undesirals units (smaller or lower).

 

I find this situation very infuriating.  I think they should asked those people who got a number that exceeds the actual number of flats, whether they want this arrangement (must choose an undesirable flat or face penalty).

 

 

[Guest guest]

17 hours ago, Guest Guest said:

I got a ballot number that exceeds the number of flats available. 

 

Their rationale is that there will be people not choosing a flat so I still stand a chance.

 

The frustrating thing is this: those with a better ballot number would have chosen the desirable flats (bigger and/or higher level), and the undesirable/leftover flats are pushed to me for selection.

 

If I don't select, they regard this as rejecting their offer and will penalise me by removing the additional chances I have accumulated over the past BTO when I was not given a ballot number. 

 

If I choose, I am forced by circumstance to select the undesirals units (smaller or lower).

 

I find this situation very infuriating.  I think they should asked those people who got a number that exceeds the actual number of flats, whether they want this arrangement (must choose an undesirable flat or face penalty).

 

 

Agreed. 

[Guest Guest]

If you don’t go, you will never know how good or how bad are the unit’s. Must take risk in life. 

[Guest Guest]

8 hours ago, Guest Guest said:

If you don’t go, you will never know how good or how bad are the unit’s. Must take risk in life. 

Err....you don't need to go dude.  You know which units are taken from their website.  Trust me you will be left with the undesirable ones.  

[Guest Guest]

Just now, Guest Guest said:

Err....you don't need to go dude.  You know which units are taken from their website.  Trust me you will be left with the undesirable ones.  

And that would mean smaller units, lower floors.

 

I mean I dont have to tell you and you should know.  The market price will reflect these factors too.  High floor, bigger units fetch higher price

[Guest Guest]

For those considering resale HDB read this:

 

Prices for HDB resale flats climb 1.1% in April, with 5-room units seeing the biggest rise

[Guest guest]

20 hours ago, Guest Guest said:

For those considering resale HDB read this:

 

Prices for HDB resale flats climb 1.1% in April, with 5-room units seeing the biggest rise

Sad.

[ChubasaurusHex]

Lol I got a ballot number within the alloted lots for singles for yishun plot. They said will release sms in 2 weeks before my turn to pick from march onwards. Until now no have get yet sms.

 

Should I shop around then for another bto in the mean time?

[Guest Guest]

1 hour ago, ChubasaurusHex said:

Lol I got a ballot number within the alloted lots for singles for yishun plot. They said will release sms in 2 weeks before my turn to pick from march onwards. Until now no have get yet sms.

 

Should I shop around then for another bto in the mean time?

Congrats! Call them to enquire

[Guest guest]

7 hours ago, ChubasaurusHex said:

Lol I got a ballot number within the alloted lots for singles for yishun plot. They said will release sms in 2 weeks before my turn to pick from march onwards. Until now no have get yet sms.

 

Should I shop around then for another bto in the mean time?

Yishun plot high chance to get a flat since recent Yishun BTO location quite ulu.

[Guest Guest]

Should you pay more for a resale HDB flat or wait for a BTO flat? | Money Talks podcast

[Guest guest]

12 hours ago, Guest Guest said:

Should you pay more for a resale HDB flat or wait for a BTO flat? | Money Talks podcast

The HDB resale pricing now is depressing.

[Guest Whywhy]

Do you feel demoralised after seeing the prices of public housing going up like no tomorrow? 

 

What's the point of working hard anymore? My salary will never catch up with the price hike 

[Guest Guest]

The increase in prices shall be your impetus to work even harder and smarter. 

 

Below is a CPF link for those needed info.

 

What type of HDB flats can single Singaporeans buy?

[Guest Single]

1 hour ago, Guest Guest said:

The increase in prices shall be your impetus to work even harder and smarter. 

 

Below is a CPF link for those needed info.

 

What type of HDB flats can single Singaporeans buy?

Please note that when you buy a HDB as a single, they charge you $15,000 extra (they called "premium" on top of the selling price).  This is because the subsidised flat is for couples and NOT singles.  

 

Singles are penalised so many times:

You can only get a 2 room flat,

Your ballot chances are less,

You cannot apply for mature estates,

You must pay $15,000 extra.

 

Are you happy?

[Guest guest]

18 hours ago, Guest Single said:

Please note that when you buy a HDB as a single, they charge you $15,000 extra (they called "premium" on top of the selling price).  This is because the subsidised flat is for couples and NOT singles.  

 

Singles are penalised so many times:

You can only get a 2 room flat,

Your ballot chances are less,

You cannot apply for mature estates,

You must pay $15,000 extra.

 

Are you happy?

The policy here is never for singles, they want people to get married and start a family.

[lonelyglobe]

18 hours ago, Guest guest said:

The policy here is never for singles, they want people to get married and start a family.

Unfortunately that is a very stupid or outdated policy, just look at how low our fertility rate is. Nowadays couple are more interested to buy, then sell in 5 years time to make a horrendous profit.

 

What could be a better option is to include also a "premium" for couple say 50k, if they have a first baby within the first 3 year of marriage, the 50k will be fully refund, between 3 to 5 years pro-rated and after 5 years no refund. 

 

There is no point to increase the single subsidies as the  increase in HDB price is definitely out of proportion. As the single population increase tremendously, more have to be done. Unproductive couple is the same as unproductive single,  therefore should not enjoy extra benefits. 

Edited May 18, 2023 by lonelyglobe

[Guest guest]

9 hours ago, lonelyglobe said:

Unfortunately that is a very stupid or outdated policy, just look at how low our fertility rate is. Nowadays couple are more interested to buy, then sell in 5 years time to make a horrendous profit.

 

What could be a better option is to include also a "premium" for couple say 50k, if they have a first baby within the first 3 year of marriage, the 50k will be fully refund, between 3 to 5 years pro-rated and after 5 years no refund. 

 

There is no point to increase the single subsidies as the  increase in HDB price is definitely out of proportion. As the single population increase tremendously, more have to be done. Unproductive couple is the same as unproductive single,  therefore should not enjoy extra benefits. 

Agreed. But too bad being single is like committing a crime.

[Guest Guest]

Are you aware of the master plan?

 

Singapore will update housing, planning strategies to reflect current concerns: Desmond Lee

[Guest Elephant in the Room]

1 hour ago, Guest Guest said:

Are you aware of the master plan?

 

Singapore will update housing, planning strategies to reflect current concerns: Desmond Lee

Master plan should include the decaying lease of HDB flat, otherwsie master plan is a big empty hole. 

[Guest Guest]

My parents just got a BTO flat successfully but it will be ready only in about 4 years. They would have to sell their current flat. I am thinking of taking over their flat. Is it possible to have them transfer ownership to me while I pay them the market value of the flat without undergoing the formal buy sell procedure?

[Guest guest]

9 hours ago, Guest Guest said:

Are you aware of the master plan?

 

Singapore will update housing, planning strategies to reflect current concerns: Desmond Lee

Master plan has any good news and policy for singles? Like singles can buy new BTO 3 rm and singles can buy HDB younger than 35 year old?

[Guest guest]

7 hours ago, Guest Elephant in the Room said:

Master plan should include the decaying lease of HDB flat, otherwsie master plan is a big empty hole. 

What can they do about the decaying lease of HDB? Extend beyond 99 years? I do not think it will happen ever in this life.

[Guest Guest]

New HDB comes with a leasehold of 99 years. HDB will lease the land from the State and at the end of the lease, the land will be returned. Is this so hard to comprehend?

 

If you buy a resale, the start of lease is clearly stated in the valuation report.

 

What treatment do you expect? You and members of your family live there in perpetuity? Or do you expect HDB to give you a brand new replacement flat (also with 99 years lease) Free-Of-Charge?

[sgrunner]

Getting my BTO keys in October.

Anyone got recommendations for renovations company that is very trusted, affordable and provide installments

Thank u

[Guest Historical Great Liar?]

7 hours ago, Guest Guest said:

New HDB comes with a leasehold of 99 years. HDB will lease the land from the State and at the end of the lease, the land will be returned. Is this so hard to comprehend?

 

If you buy a resale, the start of lease is clearly stated in the valuation report.

 

What treatment do you expect? You and members of your family live there in perpetuity? Or do you expect HDB to give you a brand new replacement flat (also with 99 years lease) Free-Of-Charge?

The govt promised, during every election, HDB price will  keep appreciating. People bought the promises and acquired resale flat confidently with their CPF.  How can they suddently turn back on their words?

[Guest Guest]

10 hours ago, Guest Historical Great Liar? said:

The govt promised, during every election, HDB price will  keep appreciating. People bought the promises and acquired resale flat confidently with their CPF.  How can they suddently turn back on their words?

Even they turn back on their words, what can you do about it?

[Guest Guest 2 room]

I have been lucky in that I applied for a 2 room HDB bto and got it on my 2nd attempt. That was 5 years ago. Now that it going MOP in a few months, I am planning to sell it.

 

I am lucky also because the property prices are on a upward trend. 

 

The thing is I never renovated my unit. There are people who said that the fetching price would be lower than market value if it's not renovated. But there are also others who said that it makes no difference as some buyers prefer flats in their original condition as it means less hacking and they have to renovate it anyway.

 

Would love to hear from those who had sold their flats before.

[Guest Right?]

10 minutes ago, Guest Guest 2 room said:

I have been lucky in that I applied for a 2 room HDB bto and got it on my 2nd attempt. That was 5 years ago. Now that it going MOP in a few months, I am planning to sell it.

 

I am lucky also because the property prices are on a upward trend.

 

Where will you stay after selling your 2 room BTO?  Such sizes may have very minimal profit margin based on location and other factors.  After selling, you may end up footing higher prices for 2nd flat to stay and HDB may not give you another subsidy again.  Vicious cycle right?

[Guest Guest 2 room hdb]

That's a good question. I am thinking of upgrading to a 3 room flat or buy over my parent's flat (which is 5 room) as they got a BTO but that's going to take maybe 4 years.

 

It's not a good idea to sell without getting a new unit.

[Guest guest]

10 hours ago, Guest Guest 2 room said:

I have been lucky in that I applied for a 2 room HDB bto and got it on my 2nd attempt. That was 5 years ago. Now that it going MOP in a few months, I am planning to sell it.

 

I am lucky also because the property prices are on a upward trend. 

 

The thing is I never renovated my unit. There are people who said that the fetching price would be lower than market value if it's not renovated. But there are also others who said that it makes no difference as some buyers prefer flats in their original condition as it means less hacking and they have to renovate it anyway.

 

Would love to hear from those who had sold their flats before.

Usually if the unit is renovated, seller would ask for higher price. But having said that, even your unit is not renovated, based on current market, still can sell quite a high price. I see that 2 rm resale can fetch $300+.

[Guest guest]

10 hours ago, Guest Guest 2 room hdb said:

That's a good question. I am thinking of upgrading to a 3 room flat or buy over my parent's flat (which is 5 room) as they got a BTO but that's going to take maybe 4 years.

 

It's not a good idea to sell without getting a new unit.

You can try to sell and if the price is good then sell it and move back to parent house. Then wait for the resale price to come down since you have a place to stay.

[lonelyglobe]

10 hours ago, Guest Right? said:

Where will you stay after selling your 2 room BTO?  Such sizes may have very minimal profit margin based on location and other factors.  After selling, you may end up footing higher prices for 2nd flat to stay and HDB may not give you another subsidy again.  Vicious cycle right?

Well, a 2 room with all the subsidies throw in, let say 150k. Current resale price is easily 300k and above,  so after selling can get a 3 room resale which is also in the 300k range. Lesser lease but bigger size and with an extra room to rent out. 

 

10 hours ago, Guest Guest 2 room hdb said:

That's a good question. I am thinking of upgrading to a 3 room flat or buy over my parent's flat (which is 5 room) as they got a BTO but that's going to take maybe 4 years.

 

It's not a good idea to sell without getting a new unit.

Errrr.... If u don't sell,  how to get a new unit? 

[Guest guest]

On 5/24/2023 at 10:58 PM, lonelyglobe said:

Well, a 2 room with all the subsidies throw in, let say 150k. Current resale price is easily 300k and above,  so after selling can get a 3 room resale which is also in the 300k range. Lesser lease but bigger size and with an extra room to rent out. 

 

Errrr.... If u don't sell,  how to get a new unit? 

300k for a 3 rm resale currently can only get you old 3 rm and location not that good which is 35 year old or above. If want to get those around 10 year old and below 3 rm, need at least 400k or higher. So if you sell at 300k plus and buy the next flat at 400k, worth or not?

[lonelyglobe]

9 hours ago, Guest guest said:

300k for a 3 rm resale currently can only get you old 3 rm and location not that good which is 35 year old or above. If want to get those around 10 year old and below 3 rm, need at least 400k or higher. So if you sell at 300k plus and buy the next flat at 400k, worth or not?

Depend on individual need and budget,  what is important is buy within your limit,  likewise if renting,  rent within your limit.

 

If u can only afford $500 room sharing so be it but if u can afford a 50k monthly rental for a Ridout bungalow, well so be it. 

[LeanMature]

On 5/21/2023 at 6:30 AM, sgrunner said:

Getting my BTO keys in October.

Anyone got recommendations for renovations company that is very trusted, affordable and provide installments

Thank u

 

What I did previously was to walk around my neighbours' units and asked permission to view the renovation in progress.  They will be happy to recommend you if they themselves are happy with the renovation.  

[LeanMature]

On 4/4/2023 at 9:04 PM, Guest 55 Year Old Senior said:

So given a choice, would you choose a short 40 year lease (till age 95) or a long / balanced 99 year lease for your HDB flat purchase? How do we choose & make the right decision? Thanks for your kind advice 👍

 

Under the 2-room flexi scheme for seniors (age 55 and above), HDB allows you to choose the lease period, based on your age at time of flat selection.  The bottom line is, under this lease buyback scheme, you can't sell in the open market except BACK to HDB.

[Guest guest]

On 5/27/2023 at 8:38 AM, lonelyglobe said:

Depend on individual need and budget,  what is important is buy within your limit,  likewise if renting,  rent within your limit.

 

If u can only afford $500 room sharing so be it but if u can afford a 50k monthly rental for a Ridout bungalow, well so be it. 

The current market the price for resale 3 rm is 400k and above, either buy or don't buy.

[Allons-y]

we successfully got a 4rm 45yo resale flat with my partner under joint singles. what was surprising to us was we didn't have to fork out cash despite HDB guideline states that "the remaining lease have to cover the youngest buyer until the age of 95". i think there's some lax in HDB guidelines now considering how expensive and hot the resale market it. 

 

 

[Guest guest]

2 minutes ago, Allons-y said:

we successfully got a 4rm 45yo resale flat with my partner under joint singles. what was surprising to us was we didn't have to fork out cash despite HDB guideline states that "the remaining lease have to cover the youngest buyer until the age of 95". i think there's some lax in HDB guidelines now considering how expensive and hot the resale market it. 

 

 

What make you want to buy a 45 year old resale flat? Thought many people don't advise buying of old HDB die to lease decay problem and left with not much value later.

[Allons-y]

1 minute ago, Guest guest said:

What make you want to buy a 45 year old resale flat? Thought many people don't advise buying of old HDB die to lease decay problem and left with not much value later.

the size and location is great with great amenities nearby. its only 15m to town if you drive and mrt is 5 mins walk. the condition we bought was great too since the previous owner took care of the apartment and last renovated a few years ago. we don't have kids or intend to have one and we don't really care about not having much value later. its not like we are building generational wealth. also, if we don't get enbloc, there's VERS policy coming out in 2038. so we are not really concerned about lease decay. 

[Guest guest]

9 minutes ago, Allons-y said:

the size and location is great with great amenities nearby. its only 15m to town if you drive and mrt is 5 mins walk. the condition we bought was great too since the previous owner took care of the apartment and last renovated a few years ago. we don't have kids or intend to have one and we don't really care about not having much value later. its not like we are building generational wealth. also, if we don't get enbloc, there's VERS policy coming out in 2038. so we are not really concerned about lease decay. 

So you are choosing the location and amenities and don't mind buying an old HDB. I am now also looking to buy a 3 rm resale but still don't know should i buy an old HDB with the location i like. Or buy a newer resale but location further to town. Or buy a newer resale HDB which near to mrt, but far to town.

 

Many people advise me not to buy old HDB, cause i am wasting my money esp the current market price is so high. Not worth to pay over $400k plus to buy an old HDB near to 50 year old, even though the location is good. Next time difficult to sell, cannot lease buy back and also no more value. The money you spend on the flat is worthless. So now i am stuck and do not know what to do.

[Allons-y]

1 minute ago, Guest guest said:

So you are choosing the location and amenities and don't mind buying an old HDB. I am now also looking to buy a 3 rm resale but still don't know should i buy an old HDB with the location i like. Or buy a newer resale but location further to town. Or buy a newer resale HDB which near to mrt, but far to town.

 

Many people advise me not to buy old HDB, cause i am wasting my money esp the current market price is so high. Not worth to pay over $400k plus to buy an old HDB near to 50 year old, even though the location is good. Next time difficult to sell, cannot lease buy back and also no more value. The money you spend on the flat is worthless. So now i am stuck and do not know what to do.

apologies but i neglect to mention the most important factor. I think for us, the main deciding factor is what we could afford reasonably. we had several options that range from 400k to 1.25m but ultimately, we do not want to be stuck paying for too long. also, with today's job market we need to consider retrenchment possibilities. so we ended up with our second choice and we are happy with it. we have no regrets about not picking our first choice that is 150k more. we also do not intend to sell the apartment because we could just rent it out due to the location. i think you should trust your instinct. many people have given my unsolicited advice but they are not the one paying and living in the apartment. 

[Guest Guest]

2 hours ago, Allons-y said:

we successfully got a 4rm 45yo resale flat with my partner under joint singles. what was surprising to us was we didn't have to fork out cash despite HDB guideline states that "the remaining lease have to cover the youngest buyer until the age of 95". i think there's some lax in HDB guidelines now considering how expensive and hot the resale market it. 

 

 

Congratulations and may you and your partner stay faithful to each other and have great sex for the next 54 years. 

[Guest guest]

23 hours ago, Allons-y said:

apologies but i neglect to mention the most important factor. I think for us, the main deciding factor is what we could afford reasonably. we had several options that range from 400k to 1.25m but ultimately, we do not want to be stuck paying for too long. also, with today's job market we need to consider retrenchment possibilities. so we ended up with our second choice and we are happy with it. we have no regrets about not picking our first choice that is 150k more. we also do not intend to sell the apartment because we could just rent it out due to the location. i think you should trust your instinct. many people have given my unsolicited advice but they are not the one paying and living in the apartment. 

Good for you and most importantly as long as you are happy with your decision and purchase.

 

For me, my budget is only around 400k+, and i can have the option of buying a resale between 5-10 year old with further location and might not near to MRT, or 40 year old plus resale which has better location and might be nearer to MRT. So i am now still torn in choosing which one. I afraid the money that i have throw in buying an old flat might gone down to drain totally since the flat might only left 30 years lease or less after staying there for another 30-40 years. By then really no value.