Bros, need advice (housing!)

[sense]

bros

Having some financial difficulties paying HDB loan. Thinking of selling it away. But we fear we are not able to get a resale flat due to such prices.

Is there a way to get HDB rental flat? But I'm sure our income cannot meet the rental flat requirements.

Does seeing MP helps??

Suppose you managed to see your flat based on the market value, can start by calculating how much cash you get. Care to share?

The property bubble in SG is about to pop any month now, thus it is not sensible to get a resale flat.

Take care there.

 

[Raiders]

Suppose you managed to see your flat based on the market value, can start by calculating how much cash you get. Care to share?

The property bubble in SG is about to pop any month now, thus it is not sensible to get a resale flat.

Take care there.

Bro, I have been hearing this even before GE2011. In your opinion, when is the latest date that the bubble will burst?

 

[byleftcan]

I saw it on property guru few days ago. Forgot the area. I just re-visited that website and was zooming on bedok north 3 room flats. Guess what's the majority of the cov? At least 35k!

Thanks. Found one, $80k COV for a 5-room. That is the price of a Chevy Cruze. HDB loans should be pegged to asking price, not valuation. That should be a major reform that needs to be addressed, besides the alternative of making COV illegal. There is nothing wrong per se for COV as sellers want to make money, but at least it should be fair to buyers by making loans accessible.

http://www.propertyguru.com.sg/listing/hdb-for-sale-140-jalan-bukit-merah-7323744

 

[Raiders]

Thanks. Found one, $80k COV for a 5-room. That is the price of a Chevy Cruze. HDB loans should be pegged to asking price, not valuation.

http://www.propertyguru.com.sg/listing/hdb-for-sale-140-jalan-bukit-merah-7323744

My wife caught me ogling at your avatar on my iphone

I really wonder when the COV will go down. I do not mind a higher valuation price afterall, I can use my CPF(which is pretty redundant nowadays) But the COV portion pains me. I can afford it but I do not think it's worth it.

 

[sense]

Bro, I have been hearing this even before GE2011. In your opinion, when is the latest date that the bubble will burst?

For private property, an extrapolation would indicate that conservatively, it's a only a few quarters away before the gradient = 0.

For public housing, don't have statistics to project... However, with HDB flooding the market with new flats, it is impossible that the resale price continue to increase beyond (very conservatively) 3 yrs - sorry, I know that this does not help.

 

[Raiders]

For public housing, don't have statistics to project... However, with HDB flooding the market with new flats, it is impossible that the resale price continue to increase beyond (very conservatively) 3 yrs - sorry, I know that this does not help.

No problem brother Going to sleep now. Early flight tomorrow. Going to feed mosquitos at Rockhampton Good night!

 

[pocoyo]

For those who bought their flats earlier is lucky in a sense that they pay less for their flats as compared to existing buyers.

They don't gain anything much other than that unless they sell away the flat and move to a cheaper property in other country.

However, if their flats were to be requistioned by HDB halfway thru the lease of their flats, then they will still face the same music of the high sale price of HDB flats like everyone else when they buy another flat..

 

[Charlie258]

bros

Having some financial difficulties paying HDB loan. Thinking of selling it away. But we fear we are not able to get a resale flat due to such prices.

Is there a way to get HDB rental flat? But I'm sure our income cannot meet the rental flat requirements.

Does seeing MP helps??

Whatever you do, don't sell away your HDB flat. Why? (1) Prices will keep on increasing, (2) If you buy again under the "New Rules," your hands are really tied. New Rules are really very restrictive. Check HDB website for the specifics.

 

[Fook Seng]

Whatever you do, don't sell away your HDB flat. Why? (1) Prices will keep on increasing, (2) If you buy again under the "New Rules," your hands are really tied. New Rules are really very restrictive. Check HDB website for the specifics.

Sell only if you think of migrating. People have dreams that the govt will sell flats on a different formula. No hope. The govt is banking on demand and supply. That is why it will take 4 years to "stablise" the prices, time for this supply to come on line and arrest the grow like crazy prices. The govt will continue to earn tons from selling flats.

 

[Unrepented]

Can you share your knowledge regarding the basis for valuation of requistion by HDB?

For those who bought their flats earlier is lucky in a sense that they pay less for their flats as compared to existing buyers.

They don't gain anything much other than that unless they sell away the flat and move to a cheaper property in other country.

However, if their flats were to be requistioned by HDB halfway thru the lease of their flats, then they will still face the same music of the high sale price of HDB flats like everyone else when they buy another flat..

 

[chonburifc]

Can you share your knowledge regarding the basis for valuation of requistion by HDB?

Same here. In a similar situation, 3room flat is 40 years old in a mature estate. One agent told me I could get 350K or more if I sell now(fully paid and bouught at 120K including upgrading). A friend told me to sell after en-bloc annoucement. My family advise me to wait for en-bloc and apply for a new unit and then sell the new unit. Currently, flat is rented out. I do not need the rental income.

My thinking is if buying a new enbloc unit, I am most likely to get a 4-room and most likely need to top up. My question is how much do I need to top up?

 

[syed putra]

Sell hdb and live a blissful life in pontian

 

[chupacabra]

Why look at rules at stats all your life? Emigrate and sell the pigeon hole. Life is too short. I was lucky to get a cheap flat but my kids won't be as lucky in the future.

 

[byleftcan]

Whatever you do, don't sell away your HDB flat. Why? (1) Prices will keep on increasing, (2) If you buy again under the "New Rules," your hands are really tied. New Rules are really very restrictive. Check HDB website for the specifics.

Are there any conditions for HDB owners to hold on to HDB and yet buy private property, but stay in private property and rent out the HDB? That is the best balance of holding on to HDB while not living in it for lifestyle reasons. I only know that private property owners cannot buy a HDB flat unless they sell their private property within 6 months of a purchase of a resale HDB flat.

 

[byleftcan]

Why look at rules at stats all your life? Emigrate and sell the pigeon hole. Life is too short. I was lucky to get a cheap flat but my kids won't be as lucky in the future.

Problem with emmigration is breaking out of the comfort zone and leaving behind family and friends. And we are so used to being the majority race that when we go abroad, we realise that as foreigners and as of a different ethnic group (unless I move to China or HK than I only have to worry about being a foreigner but not a visible one), we would get the same shit treatment we give to minority groups and foreigners. Karma sucks. That said, there is always a personal trigger point where it is time to consider moving on and out. When can financially bring parents and family over is one such checklist for me.

 

[CannonFairy]

The housing policies are screwed and peppered with loopholes. HDB forgot the roots of public housing. I said earlier opportunistic Khaw took this chance to score political points.

My favourite loophole: Couples divorce only on paper. So they can own 2 HDB flats. One HDB flat will be rented out to collect income, while the family stays in another HDB flat. This is the combo with the 35 years old single buy HDB scheme which is catered to the homos.

 

[red amoeba]

Are there any conditions for HDB owners to hold on to HDB and yet buy private property, but stay in private property and rent out the HDB? That is the best balance of holding on to HDB while not living in it for lifestyle reasons. I only know that private property owners cannot buy a HDB flat unless they sell their private property within 6 months of a purchase of a resale HDB flat.

HDB owners can buy private but must stay in HDB...

that is the rule...but u noe, like they say in SAF....n if you r creative, u can pull it off.

but hor...the penalty of getting caught is very stiff, they confiscate ur HDB.

 

[saratogas]

Hdb owners can buy private and stay in it... If they have fulfilled their minimum occupation period.

 

[red amoeba]

Hdb owners can buy private and stay in it... If they have fulfilled their minimum occupation period.

bro.,,,u can buy a private after you fulfilled MOP.

but you MUST stay in HDB

Flat owners and occupiers are allowed to invest in private properties (both local and overseas). However, they must meet certain eligibility conditions before they do so.

• Lessees and occupiers of the following sold flats are allowed to purchase private residential property (both local and overseas) if the lessees have fulfilled theminimum occupation period for their flat. However, they must meet certain eligibility conditions before they do so.

[TABLE="class: Table_Content table_content"]
<tbody>[TR]
[TD="class: Table_Header table_header, colspan: 2"]

Types of HDB Sold Flats​

[/TD]
[TD="class: Table_Header table_header"]

Eligibility Condition​

[/TD]
[/TR]
[TR="class: alternate-row"]
[TD="width: 47, bgcolor: #F9F1E4"]

(a)​

[/TD]
[TD="width: 385, bgcolor: #F9F1E4"]Flats bought directly from HDB[/TD]
[TD="width: 180, bgcolor: #F9F1E4"]

• The flat owners must satisfy the required MOP for their flats before acquiring private residential property

[/TD]
[/TR]
[TR]
[TD="width: 47, bgcolor: #FFFFFF"]

(b)​

[/TD]
[TD="width: 385, bgcolor: #FFFFFF"]Resale flats purchased with CPF Housing Grant[/TD]
[/TR]
[TR="class: alternate-row"]
[TD="width: 47, bgcolor: #F9F1E4"]

(c)​

[/TD]
[TD="width: 385, bgcolor: #F9F1E4"]DBSS flats purchased directly from Developer[/TD]
[/TR]
[TR]
[TD="width: 47, bgcolor: #FFFFFF"]

(d)​

[/TD]
[TD="width: 385, bgcolor: #FFFFFF"]Replacement flats bought directly from HDB under the Selective En-Bloc Redevelopment Scheme (SERS)[/TD]
[/TR]
[TR="class: alternate-row"]
[TD="width: 47, bgcolor: #F9F1E4"]

(e)​

[/TD]
[TD="width: 385, bgcolor: #F9F1E4"]Resale flats purchased without CPF Housing Grant[for resale applications submitted on or after 30 Aug 2010][/TD]
[/TR]
[TR]
[TD="width: 47, bgcolor: #FFFFFF"]

(f)​

[/TD]
[TD="width: 385, bgcolor: #FFFFFF"]Resale flats purchased without CPF Housing Grant[for resale applications submitted before 30 Aug 2010][/TD]
[TD="width: 180, bgcolor: #FFFFFF"]

• There is no need to satisfy the required MOP for their flats before acquiring private residential property.

[/TD]
[/TR]
</tbody>[/TABLE]

• There is no limit on the number of private properties that a lessee or occupier can purchase.

• The private residential property can still be under construction or is ready for possession.

• Periods of non-occupation such as subletting of whole flat or any infringement of the lease of the flat, will be excluded in the MOP.

• The lessees and occupiers must continue to stay in their HDB flat after the purchase of the private residential property unless prior approval from HDB is obtained to sublet the whole flat.

 

[chonburifc]

Problem with emmigration is breaking out of the comfort zone and leaving behind family and friends. And we are so used to being the majority race that when we go abroad, we realise that as foreigners and as of a different ethnic group (unless I move to China or HK than I only have to worry about being a foreigner but not a visible one), we would get the same shit treatment we give to minority groups and foreigners. Karma sucks. That said, there is always a personal trigger point where it is time to consider moving on and out. When can financially bring parents and family over is one such checklist for me.

Made a mistake of over planning when I was still in SG. In new country, need a shelter, need a job, need this and need that. Ended up, I was still planning in SG.

I know it's a big risk without planning but don't over plan. By the time everything is well planned, I can collect my first CPF liao.