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

[Guest JAMES]

Let's say for a single Singaporean he last time got joint apply with his mother for a Sales of Balance flat directly from HDB once. And later on his this flat got selected for Sers and he one person alone bought another Sales of Balance flat directly from HDB as a replacement flat for his Sers flat. 

 

So next time when he reach 55-years-old, can he apply as a Senior Single for the senior 2-rm BTO flat?

If he is eligible to apply for this 2-rm BTO at 55-years-old, then after staying in this senior 2-rm BTO flat for 5 years, 1) can he sell his this 2-rm BTO flat in the resale open market? And 2) can he rent out his whole 2-rm BTO flat after staying in this flat for 5 years?? 

[lonelyglobe]

13 hours ago, Guest guest said:

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.

If after paying off your housing loan and u still have sufficient retirement fund, then an old flat probably won't affect u too much. But if no retirement fund then better get a new flat,  at least want to sell can fetch a better price or can opt for lease buy back.

 

Apart from depreciation value, old flat also tends to have more maintenance problem and also u get lots of old people with funny habits around. Another option would be to find someone not necessary partner whom u think can buy a flat together under the joint single scheme. 

[lonelyglobe]

13 hours ago, Guest JAMES said:

 

If he is eligible to apply for this 2-rm BTO at 55-years-old, then after staying in this senior 2-rm BTO flat for 5 years, 1) can he sell his this 2-rm BTO flat in the resale open market? And 2) can he rent out his whole 2-rm BTO flat after staying in this flat for 5 years?? 

U should check with HDB but for senior 2 room, don't think can rent out and definitely can't resale in open market, if u don't need it anymore,  need to return to HDB. Basically is just like u pay a 40 years rental upfront to HDB. This should be the last resort for single. 

[Guest guest]

11 hours ago, lonelyglobe said:

If after paying off your housing loan and u still have sufficient retirement fund, then an old flat probably won't affect u too much. But if no retirement fund then better get a new flat,  at least want to sell can fetch a better price or can opt for lease buy back.

 

Apart from depreciation value, old flat also tends to have more maintenance problem and also u get lots of old people with funny habits around. Another option would be to find someone not necessary partner whom u think can buy a flat together under the joint single scheme. 

Good advice. If need money when old, looks like better to get a newer resale flat. Maintenance problem for old flat if outside, then it is the problem of the town council to resolve it. If inside the flat, if i buy that time reno the whole house and change everything, maybe would not have problem.

[Guest Roman reigns]

On 5/30/2023 at 11:32 AM, lonelyglobe said:

U should check with HDB but for senior 2 room, don't think can rent out and definitely can't resale in open market, if u don't need it anymore,  need to return to HDB. Basically is just like u pay a 40 years rental upfront to HDB. This should be the last resort for single. 

you don't need the flat anymore. 

This is your last resort. 

[Guest Guest]

If I were to sell my BTO HDB flat (under the Singles Scheme), do I get back the $15,000 premium that I paid for the purchase?

[Guest Guest]

2 hours ago, Guest Guest said:

If I were to sell my BTO HDB flat (under the Singles Scheme), do I get back the $15,000 premium that I paid for the purchase?

No.  You get it back when you get married.

[Guest Guest]

2 hours ago, Guest Guest said:

If I were to sell my BTO HDB flat (under the Singles Scheme), do I get back the $15,000 premium that I paid for the purchase?

The rationale is this:  The BTO flats are built and sold at a "subsidized" price to benefit Couples, NOT singles.

 

So as a single, you pay "full"/"market"/"unsubsidized" (whichever way you want to call it) price, which is whatever the BTO selling price PLUS $15,000 extra (premium).

 

Based on this logic, you will not get back the $15,000 because it is the FLAT price.

 

You only get it back (treat like enjoying the subsidy) later if you get married.

[Guest Guest]

In other words, if in future you are willing to legally fuck a CB, gang her backside or mouth, you get $15000 subsidy 

[keyboard]

Can't quite figure this out, does that mean the chances for 2nd timer in mature estate is non-existent? There's 76x rate.

The public flat supply set aside for each household type is:
Non-Mature Estates
First Timer Families - 85%/ 95% of 3R/ 4R and bigger flats
Second Timer Families - 15%/ 5% of 3R/ 4R and bigger flats
Mature Estates
First Timer Families - 95% of flats
Second Timer Families - 5% of flats
* BTO projects with shorter waiting time (where applicable)
First Timer Families - 95% of 4R and bigger flats
Second Timer Families - 5% of 4R and bigger flats

 

https://services2.hdb.gov.sg/webapp/BP13BTOENQWeb/AR_May2023_BTO?strSystem=BTO

Does anyone know how to count the chances - or ballot means it's anyone chance till the quota gets filled?

Can't decide if to 5room the bedok or serangoon one. All 3 locations are not ideal (much less with PLH). Another waste $10 or a chance to strike the ballot lottery?

[lonelyglobe]

3 hours ago, keyboard said:

Can't quite figure this out, does that mean the chances for 2nd timer in mature estate is non-existent? There's 76x rate.

The public flat supply set aside for each household type is:
Non-Mature Estates
First Timer Families - 85%/ 95% of 3R/ 4R and bigger flats
Second Timer Families - 15%/ 5% of 3R/ 4R and bigger flats
Mature Estates
First Timer Families - 95% of flats
Second Timer Families - 5% of flats
* BTO projects with shorter waiting time (where applicable)
First Timer Families - 95% of 4R and bigger flats
Second Timer Families - 5% of 4R and bigger flats

 

https://services2.hdb.gov.sg/webapp/BP13BTOENQWeb/AR_May2023_BTO?strSystem=BTO

Does anyone know how to count the chances - or ballot means it's anyone chance till the quota gets filled?

Can't decide if to 5room the bedok or serangoon one. All 3 locations are not ideal (much less with PLH). Another waste $10 or a chance to strike the ballot lottery?

I doubt u can count the chance, priority will be given to couple but anyway is just a $10 fee,  take it like buying toto quick pick,  got buy got hope,  no buy no hope. 

[keyboard]

1 hour ago, lonelyglobe said:

I doubt u can count the chance, priority will be given to couple but anyway is just a $10 fee,  take it like buying toto quick pick,  got buy got hope,  no buy no hope. 

Many $10 gone till now starting to feel heart pain.

[LeanMature]

14 hours ago, keyboard said:

Many $10 gone till now starting to feel heart pain.

 

I lost $30 before successful. 

[Guest Guest]

1 hour ago, LeanMature said:

 

I lost $30 before successful. 

Did you get a good queue number?

 

They issue 3 times more than the number of flats.  And you will be penalised if you don't choose, no matter what number you are given.  Unless when it's your turn, there's less than 10 units left to choose.

[keyboard]

1 hour ago, LeanMature said:

 

I lost $30 before successful. 

I didn't even get a queue number for the many times I tried. Totally at the no sympathy from MP even if I tried.

[Guest Guest]

15 minutes ago, keyboard said:

I didn't even get a queue number for the many times I tried. Totally at the no sympathy from MP even if I tried.

Had a frd who went to MP after many failed balloting.  Not sure coincidence or what, he was successful in a Sales of Balanced Flats. 

[LeanMature]

3 hours ago, Guest Guest said:

Did you get a good queue number?

 

They issue 3 times more than the number of flats.  And you will be penalised if you don't choose, no matter what number you are given.  Unless when it's your turn, there's less than 10 units left to choose.

 

Not good not bad, in between. Having a good queue number does not equate to choosing a good unit.  Some people just choose because unit number is 268, 228, 168..etc. I am not "bandan" about this.  

[Guest Guest]

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

Congratulations.  By October you shall be the pride and joy to your parents and sunshine to all around you.

[Guest guest]

9 hours ago, LeanMature said:

 

I lost $30 before successful. 

You not bad afterall, still successful eventually. I never got a queue number or got a queue number outside the allocated number of units, think i have tried at least 5 times and above. Ultimately no chance but to buy a resale which is so much expensive than a new 2 rm BTO.

[Guest Lucky]

I actually thought it is easy to get a 2 room BTO cos I got it on my 2nd application.

[Guest Guest]

Then you are lucky.  I heard some 7-8 times also didn't get a number

[cityhallguy]

Is depending on location and number of 2-room available in that section.

The time I went to apply for BTO 2-room flat was in 2018.

Standard for single can only apply non-mature estates area. So I look at what were the non-mature estates available at that point of time and then went further to check how many number of BTO-2room apartments were in that section. If I remembered correctly, that section I applied got about 480 2-room apartments, so I went to apply got my ballot number around 200 something and I got it.

So that how I did it just 1st time and I don’t think I gonna do it again 😂 as I happy with the flat I have now.

 

[Startup]

On 3/9/2023 at 4:12 PM, cityhallguy said:

Share with you what I’m currently doing now and it may or may not suit you as we have different life. I decided to do this way, after discussing with my close friends and my partner about the pro and cons.

Also please note that, I still have set aside some emergency savings on hands.
 

I used my CPF to fully paid my 99yrs BTO 2-room flat and have started making voluntary refund housing scheme. 

What is voluntary refund housing scheme and how to do it?

[Guest Ask CPF]

1 hour ago, Startup said:

What is voluntary refund housing scheme and how to do it?

It means to repay CPF  for the loan + Int you borrrowed to pay for your housing.   You can login to your CPF online to do the refund if you have the money.   After you sell your housing, the full sale proceed will be strictly yours since you no longer owe CPF any loan.   

[LeanMature]

21 hours ago, Guest guest said:

You not bad afterall, still successful eventually. I never got a queue number or got a queue number outside the allocated number of units, think i have tried at least 5 times and above. Ultimately no chance but to buy a resale which is so much expensive than a new 2 rm BTO.

 

19 hours ago, Guest Guest said:

Then you are lucky.  I heard some 7-8 times also didn't get a number

 

As mentioned by @cityhallguy, the location as well as units allocation of each BTO Project will decide the outcome of your ballot ballot result.  For 2-room BTO, some are reserved for above 55 seniors, or at least they are given higher priority over single above 35.  

[LeanMature]

On 6/5/2023 at 11:03 AM, keyboard said:

I didn't even get a queue number for the many times I tried. Totally at the no sympathy from MP even if I tried.

 

SBF or BTO ?  I find SBF very slim chance, some with a ratio of more than 50:1 

[keyboard]

On 6/6/2023 at 6:35 PM, LeanMature said:

 

SBF or BTO ?  I find SBF very slim chance, some with a ratio of more than 50:1 

BTO 2nd Timer Mature Estates. Think started Feb 2022. Till now every $10 dont even get a queue.

[Guest Given Up]

Mature Estate is better than new estate.  Everytime I wanted to meet someone in non-mature estate,  I have problem going there by public transport - either no MRT or too far from the nearest MRT.  I gave up on appointment mostly on this reason alone. 

[Guest Lucky]

I am really lucky to have gotten a hdb flat through BTO. Especially now that I look at the crazy property prices. It seems to me that property prices double every 10 years.

[Guest Guest]

HDB common room can fetch $1200 per month?

 

Rental demand for Johor homes surges amid soaring Singapore rents; Q1 sales volume beats pre-pandemic levels

[Guest Hiya]

11 hours ago, Guest Lucky said:

I am really lucky to have gotten a hdb flat through BTO. Especially now that I look at the crazy property prices. It seems to me that property prices double every 10 years.

Not every 10 years but 2 years or so.

[lonelyglobe]

14 hours ago, Guest Guest said:

HDB common room can fetch $1200 per month?

 

Rental demand for Johor homes surges amid soaring Singapore rents; Q1 sales volume beats pre-pandemic levels

Yes,  that's how crazy the rental market is today. 

[lonelyglobe]

17 hours ago, Guest Lucky said:

It seems to me that property prices double every 10 years.

Yes if u r talking about 2006 to 2013, u can get a 3 room resale  150k in 2006 but in 2013, the price have double. 

 

5 hours ago, Guest Hiya said:

Not every 10 years but 2 years or so.

Actually from 2014 to 2019, the resale price is quite stable,  u still can get a 3 room  with a 300k budget. 2020 till now, easily 370k for a decent resale flat. 

 

But I would say the current price are unsustainable, once they ramp up BTO supply, with a drop in demand and a possible recession, prices should start to drop, hopefully by end of 2023. 

[Guest luckylikeshit]

I too managed to get a BTO and in a good location somemore a few years ago. I left it empty and am now able to rent it out for a bit more income as I'm still staying with my folks. My plan is to sell my parent's place when they have passed on and then move into my own flat. 

[Guest Oo-La-La]

48 minutes ago, lonelyglobe said:

But I would say the current price are unsustainable, once they ramp up BTO supply, with a drop in demand and a possible recession, prices should start to drop, hopefully by end of 2023. 

Not unstable if they open the flood gate, issue citizenship like no tomorrow and those who bought the BTO at high price will want to sell at even higher price to make profit.  It will continue to push mature estate resale price higher.   I look at the flyer in the letter box,  some mature HDB resale flat is already at $500K for 3-room.   

[lonelyglobe]

30 minutes ago, Guest Oo-La-La said:

Not unstable if they open the flood gate, issue citizenship like no tomorrow and those who bought the BTO at high price will want to sell at even higher price to make profit.  It will continue to push mature estate resale price higher.   I look at the flyer in the letter box,  some mature HDB resale flat is already at $500K for 3-room.   

That's the problem,  a lot are testing the market so please do not buy. Just like 2 room selling at 320k is really WTF. 

 

Anyway 2024/5 is election year,  the current high price already piss off a lot of people,  if they do not want to lose more GRC (they lose Aljunied GRC in the midst of high flat prices and opening the flood gate in 2011), then more need to be done to bring down and stabilize prices. 

[Guest Guest]

If MOM continues to approve more and more foreign workers, who are attracted to our strong S$, it will drive rental higher which in turn drive housing prices even higher. 
 

Just look at the performance of regional currencies like Ringgit, Rupiah, Peso, RMB, THB etc. , this make our S$ a powerful magnet. 

 

[Guest Deeper Issue]

4 hours ago, lonelyglobe said:

Anyway 2024/5 is election year,  the current high price already piss off a lot of people,  if they do not want to lose more GRC (they lose Aljunied GRC in the midst of high flat prices and opening the flood gate in 2011), then more need to be done to bring down and stabilize prices. 

You will be surprised most buyers are foreigners (PR or new citizens) with deep pocket.  They are qualify to buy resale HDB flat.

[Guest guest]

On 6/8/2023 at 9:36 PM, Guest Given Up said:

Mature Estate is better than new estate.  Everytime I wanted to meet someone in non-mature estate,  I have problem going there by public transport - either no MRT or too far from the nearest MRT.  I gave up on appointment mostly on this reason alone. 

The place got MRT or not, nothing got to do mature estate or non-mature estate. Many mature estate, some of the blks also not near to MRT, need to take bus to get to and from MRT.

[Guest guest]

4 hours ago, lonelyglobe said:

That's the problem,  a lot are testing the market so please do not buy. Just like 2 room selling at 320k is really WTF. 

 

Anyway 2024/5 is election year,  the current high price already piss off a lot of people,  if they do not want to lose more GRC (they lose Aljunied GRC in the midst of high flat prices and opening the flood gate in 2011), then more need to be done to bring down and stabilize prices. 

If you are buying resale now, no choice but to pay the crazy price if you want to buy. No way you can avoid the crazy resale price. Before pre-covid, 2 rm resale can get 250k, but now minimum selling price is 300k and above, this is the current market since everyone is selling such price.

 

Like those 40 years old plus 3 room flat in mature estate, price at least high 300k to high 400k also fetch.

[Guest Guest]

9 hours ago, lonelyglobe said:

That's the problem,  a lot are testing the market so please do not buy. Just like 2 room selling at 320k is really WTF. 

 

Anyway 2024/5 is election year,  the current high price already piss off a lot of people,  if they do not want to lose more GRC (they lose Aljunied GRC in the midst of high flat prices and opening the flood gate in 2011), then more need to be done to bring down and stabilize prices. 

A lot had changed since the launched of Apple iPhone and the various social media. Government around the world uses these tools to convey messages in real time.

 

This time round, high property prices may play into the advantage of the government because all HDB owners, myself included, are toasting this new found very-asset-rich-feeling and those renting out their extra room are having extra spending power like never before. Remember over 80% of the citizen owns their property. HDB increased the grant for both single and couple in April. What does this tell you?

 

If current resale prices are not to your liking, the government's answer to you will be to apply for BTO and Tengah estate being the cheapest. Anyone earning a paltry annual income of $30k can afford the 2room Flexi with ease.  ACS will be moving there in 2030. Look at what RI did to the property prices in Bishan.

 

 

[Guest wahahahaha]

2 hours ago, Guest Guest said:

 ACS will be moving there in 2030. Look at what RI did to the property prices in Bishan.

 

 

What has school got to do with with HDB price hike?  Not every parents wanted to have kids.  As for the gay and you risked being a phedophile if you choose BTO near to children's school.  I prefer, staying near army CAMP...wahahahahahaha   I know some condos were built just next to military camp and they can watch army boys march "left-right-left-right" every day.  What a sight to begin your morning routine.....wahahahahaha

[Guest Tao Hin liao]

9 hours ago, Guest guest said:

 Many mature estate, some of the blks also not near to MRT, need to take bus to get to and from MRT.

Most of these mature estate are usually big town like Ang Mo Kio, Tampines, Pasir Ris, Jurong West, Pungol, Sengkang...Pasir Panjang (or was it Bukit Panjang),  Yishun and what I hate about taking LRT which often have names I am completely clueless.

[Guest guest]

24 minutes ago, Guest wahahahaha said:

What has school got to do with with HDB price hike?  Not every parents wanted to have kids.  As for the gay and you risked being a phedophile if you choose BTO near to children's school.  I prefer, staying near army CAMP...wahahahahahaha   I know some condos were built just next to military camp and they can watch army boys march "left-right-left-right" every day.  What a sight to begin your morning routine.....wahahahahaha

Staying near army camp really not bad. I used to stay near to army camp, and almost every evening can see army boys running topless out from their camp to the main road for their evening PT run. What an eye candy sight.

[Guest guest]

21 minutes ago, Guest Tao Hin liao said:

Most of these mature estate are usually big town like Ang Mo Kio, Tampines, Pasir Ris, Jurong West, Pungol, Sengkang...Pasir Panjang (or was it Bukit Panjang),  Yishun and what I hate about taking LRT which often have names I am completely clueless.

That's why not true that mature estate is better in connection to MRT.

[lonelyglobe]

3 hours ago, Guest Guest said:

 HDB increased the grant for both single and couple in April. What does this tell you?

 

Is the same as when bank increase your credit limit, what is the reason? It will just encourage people to spend more. 

 

Since so many complaint about high prices, they need to do something but will it solve the problem?  Absolutely no,  just like when they increase foreigner property tax to 60%, rich ones will continue to buy and who is the one really benefit,  definitely not foreigner and local. 

Edited June 10, 2023 by lonelyglobe

[Guest wahahahaha]

1 hour ago, Guest guest said:

Staying near army camp really not bad. I used to stay near to army camp, and almost every evening can see army boys running topless out from their camp to the main road for their evening PT run. What an eye candy sight.

Yaaaa,  saw this 8 storey,  stand alone condo with huge balcony a foot away from the Army camp I used to serve.  If I win lottery, I will buy one of those units, facing directly the camp to reminisce my younger days in that camp, while sipping my hot coffee at the balcony watching army truck and their boys cuming out and going in.  It makes me feel young again. ....wahahahaha

[Guest Dracula]

Currently staying near to a church, its crucifix cross glaring right at my window. 

[Guest guest]

9 hours ago, Guest wahahahaha said:

Yaaaa,  saw this 8 storey,  stand alone condo with huge balcony a foot away from the Army camp I used to serve.  If I win lottery, I will buy one of those units, facing directly the camp to reminisce my younger days in that camp, while sipping my hot coffee at the balcony watching army truck and their boys cuming out and going in.  It makes me feel young again. ....wahahahaha

Condo facing army camp? Wonder who will buy the condo, except you. 😂

[Guest Guest]

If HDB room rental at $1200/month can hold, even very old flats in mature estate will not have low price unit for you to pick. Many retirees with simple lifestyle can easily live on $14,400 annual income and have no compelling reason to sell. The wait for prices to go back to pre-Covid may be a very long one.