Jump to content
Male HQ

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


worldangel

Recommended Posts

If one day, God bring you to "gay haven" what will happen to your flat? Will your sibling inherited it or HDB will force sell it cheaply and you lugi or will it be sitting there empty until its lease expired?

Ever thought of how to get rid of it once you are ready to visit gay haven?

Link to comment
Share on other sites

Guest Guest

if no will is left behind, its to ur immediate family. ur parents (if any surviving) else its ur siblings.

Think if u have a lover and wants to leave it to him, have to leave a proper will with accompanying witnesses and signed at a lawyer's office.

what kinda witnesses? any requirements?

Link to comment
Share on other sites

Guest Guest

those gay singles w hdb...do u organise regular orgy?

Siow ah, & dirty my santuary.

It's a place to rest, recuperate, meditate & heal.

Plan to donate to the hospice but must leave about 3 to 5 K cash for them to pay for

legal/admin fees. of course , a will if not my greedy sister-in-law would be going after that.

Link to comment
Share on other sites

the home (hdb/private) is for yourself and love one, i dont think one would be having sex parties or orgy in it, unless both are hardcore swingers...

Personally, i am thinking of adding my BF name into the household. possible as an occupant coz he is not local and in the future if he wants to get his own place, he can take out his name.

For permanent lovers/married to each other couples, other than the household name, the CPF nomination should also be included, so that the government could not easily claim the monies after your passing...

Link to comment
Share on other sites

Why u worry abt "lease"? Are u staying there for 1000years? One can only imagine the chaos if there is a free for all happening with your hdb flat. N yes, there are also rules for landed or condos, not only in sg but everywhere in the developed world.

There is nothing wrong with the lease...just that why try to tell us we own it when we actually dont.THey reserve the right to confiscate it. Some of us pay too much for the lease.

Same with the car,,,we own the scrap metal...but we buy the lease dictated by the COE validity.

On a positive note...when you bankcrupt the HDB cannot be taken away unlike your private property... :clap: :clap:

BTW i dont the HDB building can last 99years iteself....so this clever upgrading scheme does help to keep it in good shape with everyone chipping in and it makes them look good too ;) ....i think so anyway :smokin:

Edited by Marineboy
Link to comment
Share on other sites

Have u seen public housing in other countries? Even in developed countries? Hdb done a good job in housing majority of the population. HOw much do u "chip" in for upgrading? Or do u want hdb once they hand u the keys and not do anything to your block for the next 98 years?

Link to comment
Share on other sites

Guest guest

FYI to make someone a co-owner of a property you will need to, in effect, sell your property and buy back as two people. So this means paying stamp duty for buying and selling, lawyers fees and getting a new loan for the current market value.

Link to comment
Share on other sites

Guest Elite

Have u seen public housing in other countries? Even in developed countries? Hdb done a good job in housing majority of the population.

What logic is behind this fart you trying to burst?

Link to comment
Share on other sites

I bought my 3NG (67sq m) HDB when I hit 36; over a decade ago. I think prices are rather peakish or near peak.

Not bad, 36 rich to buy a flat. Wonder when a single buys hdb, do they require tht u need to earn a certain amt of monthly salary?

By the way, wht is the difference btw 3NG, 3I and 3A?

对自己好是一种幸福,

对别人好是一种积福。

 

Spend time counting your blessings,

not airing your complaints.

Link to comment
Share on other sites

Public housing in Australia is used by people on welfare. It's supposed to kick start and help people to get started from the bottom of the ladder.

However, there are lots of people that abuse this system and are quite happy to stay at the bottom of the ladder, at the tax payers expense.

Can you imagine getting subsidised housing and also get welfare payments/benefits? Every week , every month , every year? That's what happens here. Some people are just happy to live for free! They can get away with it, here in Australia.

This is why the standards in public housing here is not good.

Link to comment
Share on other sites

As long as u work, u only need to pay several hundred a month to pay your hdb. I am paying abt $150 in cash a month, the rest by cpf. Of cos u need to save to pay the cov. U could always rent out a room for $1000 a month to help in payment. For gays, it's impt to have our own place as its a safety net.

Link to comment
Share on other sites

As long as u work, u only need to pay several hundred a month to pay your hdb. I am paying abt $150 in cash a month, the rest by cpf. Of cos u need to save to pay the cov. U could always rent out a room for $1000 a month to help in payment. For gays, it's impt to have our own place as its a safety net.

Now renting a room can fetch $1000? U refer to common rm or master rm?

Actually buying hdb maybe not tht difficult, the only problem is paying the cov! I guess the min cov tht need to pay shld be at least 20K! Dun know can find cov less than 10k now or not?

对自己好是一种幸福,

对别人好是一种积福。

 

Spend time counting your blessings,

not airing your complaints.

Link to comment
Share on other sites

As long as u work, u only need to pay several hundred a month to pay your hdb. I am paying abt $150 in cash a month, the rest by cpf. Of cos u need to save to pay the cov. U could always rent out a room for $1000 a month to help in payment. For gays, it's impt to have our own place as its a safety net.

The huge town council fee cannot justified. They are trying to par with condominium maintenance fee. Utilities kept going up and who knows if Singtel or internet is going to beat the inflation too. If you take all these and multiply for the rest of your life, it is quite substantial, nope, not talking about monthly HDB installments. Yup, GST will certainly go up after the next election, oops did I forget transport? hmm...you also try not to fall sick but old man sickness like prostrate, diabetics, highblood pressure, high cholesterol are inevitable and yes, you need to pay cash too because medisave will not cover the above richman sickness...except for prostate cancer. hmmm... whatelse is missing?

Link to comment
Share on other sites

Oh I forgot, you need to eat, pee and sleep too. All these require monthly expenses and don't overuse your home appliances, pipe choking, eletrical mulfunction and all these plus the above is enought to bomb a hole in your wallet. So work, work and work for as long as your will is there. Retire at 60? if you hope to live 20-30 years after that, you better work until 70. Who knows what PAP might have in stall to milk every cents out of your bank account and there is no welfare in Singapore to repay your nation building effort.

Edited by Why?
Link to comment
Share on other sites

Guest Guest

Cov can be a burden, that's why I urge my fellow PLU to save for that flat. It's not buying a shirt or a computer, it's a property. some sellers ask for ridiculous cov but be patient. U can find some gems. I paid $12k cov which is resonable.

12 k CV is very reasonable. Please share with us your journey to the purchased of your HDB eg. Price, location, size of flats, downpayment, renovaton etc so that we all have a rough idea how much we expect to save and spend and work towards to our own bachelor pad. Thanks.

Link to comment
Share on other sites

I 1st started my search for a hdb early 2011. As I don't drive, I made several points in selection. Must be easily connected to main transport system, so places like sengkang, chua choo kang is out. Must be near my parents apartment, void deck must be Void, no kopitiams, shops or child are centers. Reasonably nice neighbours( as no or min clutter or junk outside their flats), flat to be as original state as possible, cov of less than 20k. Early last year, too many sellers are asking for truelly ridiculously high cov, I encountered several who asked for 40k n abv for non prime flats, so I put it off and waited till this year. I expect cov to fall as hdb said they will built thousands of flats, sibi restarted search several months ago. I viwed several flats at clementi and west coast. These two areas are separated by a highway but their prices are much difference. I settled for my current flat as it suits my budget, location and requirements. Do your homework, and ask your agent questions. Also don't be taken if the asking price is too low as there could be some "problems" with the flat due to in natural death, loan sharks, crime etc. also be prepared to pay your agent 1% sales commission. Hdb announced that they are building xtra 20 000 flats on top of the 50 000 or so flats. I expect cov to stabalise or have a slight dip, but valuation will not fall. And also buy what u can pay, no point getting a prime flat at marymount and u have to pay thru your nose every month. For 3 rm, town council charges are minimal. Most expansive areas are queenstown, marine parade, RedHill. Least expansive are boonlay, jurong west, woodlands.

Edited by gstc82
Link to comment
Share on other sites

Guest BabyCub

I am just wondering.... how do we know if HDB will grant us a loan?

And also if HDB grant us the loan, will they wipe out our CPF and then decide on the loan amount offered? or as per normal, they will take u I give u 80% loan.... 5% cash & balance 15% cash or CPF

And also do we have to pay 5% cash if we take a HDB loan?

Link to comment
Share on other sites

Hdb loan interest is now 2.6% fix for entire loan period. Commercial banks are currently slightly lower but is not fixed n rates fluctuates. So there is a possibility of u paying much more several years into your loan. N most people will want to apply for hdb loan for a piece of mind as hdb will be more "flexible" if one losses job etc. to qualify for hdb loan, u have to earn $3500 or less per month. There is a one time $15000 grant for singles. The cov is included in selling price, u don't have to pay 5% cash, u must have enough in cpf , for a gauge, u shd have abt $60 000 in ordinary cpf account and abt $20k in cash for agent fees, cov. Paper work cost several hundred. Stamp fee etc deductible thru cpf.

Link to comment
Share on other sites

Hdb loan interest is now 2.6% fix for entire loan period. Commercial banks are currently slightly lower but is not fixed n rates fluctuates. So there is a possibility of u paying much more several years into your loan. N most people will want to apply for hdb loan for a piece of mind as hdb will be more "flexible" if one losses job etc. to qualify for hdb loan, u have to earn $3500 or less per month. There is a one time $15000 grant for singles. The cov is included in selling price, u don't have to pay 5% cash, u must have enough in cpf , for a gauge, u shd have abt $60 000 in ordinary cpf account and abt $20k in cash for agent fees, cov. Paper work cost several hundred. Stamp fee etc deductible thru cpf.

Meaning if cpf dun have $60000 in ordinary a/c, so not advisable to buy flat?

By the way, wht type of price is consider low for those not prime area? As in the flat might have "problems"? I am thinking if want to buy flat, it is better to look for flat in the newspaper or enage agent to help find flat?

对自己好是一种幸福,

对别人好是一种积福。

 

Spend time counting your blessings,

not airing your complaints.

Link to comment
Share on other sites

  • 3 months later...
Guest Disappointed Citizen

I am sincerely disappointed with the current government, when they decide to push the decision of letting single to buy new flat aside to later time. As a single who is reaching 35 soon and who is earning 1.5K monthly income, with a substantial amount of CPF the enough to buy a 3 room new flat (with HDB loan), but looking at the resale flat now with a crazy evaluation price, I can't even buy a 2 room resale flat as it cost up to 230K to 285K.

I appreciate that the effort of the government to stable the price of the resale market by coming up with new measure policy. But without knowing that stabling the price doesn’t made HDB more affordable as the price is still high and unreachable for certain group of citizen. As a citizen like me who is able to buy a house with a stable income and hoping to have a roof of my own, are neglected by the government policy. What can the people who are like me can do? Let unit our voice to pressure the government before the vote out the PAP.

Link to comment
Share on other sites

Did the govt announced tht they will postpone the decision on allowing singles to buy BTO? Tot during the last announcement, govt said they will announce in 2013?!

对自己好是一种幸福,

对别人好是一种积福。

 

Spend time counting your blessings,

not airing your complaints.

Link to comment
Share on other sites

Sorry guys, no offense, but if you have believed that HDB would allow BTOs for singles, I think you are really, really naive.

They can't even solve BTOs for couples. Behind that is an entire queue of needys from divorced couples to low income families to new citizens to PRs and what have you. Where are YOU in the picture. YOU, who openly disobeyed their exhortations by not getting married.

The entire promise has always felt to me to be nothing more than a tactic to make the rally speech seemed caring, expansive, with "heart."

Just being frank.

Link to comment
Share on other sites

i agree with Guest above. the gov won t give BTo to singles .those single gays waiting to buy direct from gov are really naive.imagine all gay or straight singles , all occuppy one unit than there will not be enough land or flats for the future 3 million FT? gov won t benefit anything from singles in the first place.

Link to comment
Share on other sites

I am the (third?) to agree that very unlikely that govt will allow BTO for singles. Looking at simple figures, 15,000 married couple each year, 20,000 BTOs, only 5,000 left for 2nd timers. Where is the singles going to queue? outside the door ah. We are going up to 6 million population in a few years, up from 5.5 million (am i accurate here?), where are these 500,000 people going to stay?

I didn't hear any news of the decision, but minister khaw say will annouce in 2013. So, just wait and see loh.

With your 1.5K income, you are better off having the money in CPF for your retirement needs. At the same time, try to milk as much money from the govt in terms of subsidies if possible

Link to comment
Share on other sites

I just like to highlight the plight of a certain group here. Divorcees. For legal, as well as religious reasons (such as Muslims), divorcees have to sell their join properties and split the monies. Usually, this end up insufficient to purchase anything else. These people, and their kids, end up bunking with relatives. It is not unusual to have groups of nine living in an old three room HDB. Many cannot apply for BTOs too because they have used up their chances or their children are not of age.

There are scant avenues for them to seek help. If you check Khaw Boon Wan's speeches, he acknowledges their predicaments, but is unable to help much. The point is, the dominant reason preventing any help is simply, we do not have enough flats. If you ask me too, I think this group deserves to get the limited flats over singles. Yes, this compromises the rights of Singaporean singles. But me having to live in my boyhood room with my mother, is palatial compared to nine persons squeezing in a three room.

Of course singles, and gays, can shout, the divorcees asked for it. They deserve it. Who ask them to divorce? Who ask them not to marry the right partner? Sure, you got a point. But other Singaporeans can also argue, who ask you not to marry? Who ask you to so sick go like your own gender? It's a pointless, neverending debate. The only resolution being a conscious objective examination of who needs the flats more.

Again, the entire underlying crisis is that we do not have enough flats. Public housing in Singapore has always, even now, been catering to just one group. Married couples with children. For that to change will take many, many years. Maybe an entire generation. Maybe never to come. My suggestion, don't wait for it. Manage your finances properly, and seek an alternative. At least you are working with something concrete.

Link to comment
Share on other sites

OK you are finally turning 35 but the prices are beyond your reach.

So what can you do?

Assumption made here:

Your parents have not used up their 2 applications/subsidies.

At least one or both are alive.

You are living in a 3 room HDB flat.

May I suggest this:

Instead of seeking a HDB flat on your own, why dont you try to apply for a new flat with your parents?

I think the prices of a bigger new flat is almost on par with the price of resale flats.

Why do this:

1. You get garment subsidies as you are applying it with your parents.

2. You are co-owner as you are paying it (through your CPF contributions).

3. As a gay son/child, you will eventually be responsible (willingly or otherwise) be looking after them*

* I am in this situation.

I hire a foreign domestic helper to look after my aged mother.

Besides the primary responsibility, she does practically all the household chores.

Probable inconveniences:

None

I organised dinners with friends at my place without any trouble.

More than 10 grown/matured men above 40s came to celebrate my 50 birthday last year!

Link to comment
Share on other sites

What Abang has suggested is good. However, if your parents have previously already used up one one purchase of a subsidized flat from HDB, do remember to put the owner as ONLY yourself (if you could afford to pay it on your own) while putting your parents as the occupants. Else the next time when you sell off your new flat, you will need to pay a high tax (last time I know is 25% of the selling price!). A lot of people don't know that if below 35, you can do what Abang has suggested & also be the sole owner of a direct purchase/subsidized HDB flat.

Link to comment
Share on other sites

Putting only yourself as the owner is also important because, touch wood, if your parents pass away suddenly, it is a financial and bureaucratic nightmare to adjust the paperwork.

Link to comment
Share on other sites

  • Guest locked this topic
  • Guest unlocked this topic
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...