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HDB BTO

Build To Order HDB flats

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HDB BTO

Family

HDB Resale

I am currently the co-owner of a HDB resale with my mother. I've met the 5 year MOP. Intend to remove my ownership and transfer it to my brother. Can I still apply for BTO before removing my name?
Hope these links help: https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/eligibility/check-your-eligibility https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/eligibility/hdb-flat
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HDB Resale

Property

Property Investing

Condo

Executive Condo

HDB BTO

Here's How To Use The URA Master Plan To Do Your Own Research

If you are looking to do research for your property purchase, knowing how to read the URA Master Plan is a MUST.

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Property

HDB Resale

Rent

HDB BTO

Is the West side of Singapore really better for rental prices?
By cheaper I think places like bukit panjang, woodlands, sembWang would be your best choice.
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HDB BTO

HDB Resale

Lifestyle

Rent

As a single person with limited earnings/savings, should I BTO a 2-room flat by 35 and upgrade to a resale after the MOP, or save up and buy a resale when I'm even older?
As a Singaporean, we should make use of our privileges. As long as you're able to stay in Singapore for 5 years during the Minimum Occupation period, you should get a BTO. if you're not planning to stay in Singapore you could rent it out while you're in overseas. When you retire, you could sell it off and make it part of your retirement fund. This is what alot of Malaysian PRs are doing. It also works for them because their country has a lower cost of living than Singapore.
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Property

HDB BTO

Executive Condo

What is the best bet as a first property for capital gain after MOP? HDB? EC?
That's Decoupling of your EC from one owner to another owner. But that will require the buyer to be financially able to: 1) Take up the loan of the remaining outstanding loan 2) Pay the seller his CPF used + Accrued interest. In such a case, you'll do that if: 1) You're going to milk the EC by renting it out. 2) Going to continue staying in the house and rent out a private property you are going to buy. Why people do this: So that they can have 2 properties under different spouse name and remove the effect of paying ABSD of 12%. Some couples are not able to do this is because the next house that they want to buy it's a bigger house and one person's income is not able to substantiate to get the new house loan. As such this solution might not be viable.
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CPF

HDB BTO

Property

Lifestyle

HDB Resale

Once your HDB hits MOP, can I concurrently market the property and at the same time apply for SOB or open booking of flats?
Yes it's possible. But do consider where you will be staying if you found a buyer immediately as the sale completion will be done in 3 months time. Whereas sales of balance flat might not be as fast as you think.
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Property

HDB BTO

HDB Resale

Can COV be paid via installments?
Nope. it's cash at the before the completion
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Property

HDB BTO

Family

Executive Condo

HDB Resale

What would be the wise choice to upgrade to our next flat? I am currently staying in a 4 room BTO, MOP fulfilled. Any advice?
It depends at the end of the day on your needs and why you want to move. Moving into a 5 room BTO & EC is an option but you'll need to wait 3-4 years for it to be build and pay a $40,000 COV in cash. Moving to a resale flat, allows you to do so immediately. But the appreciation level will not be what you may get in your current BTO. So at the end, both have it's pro's and con's. If the intention is about bigger size, go ahead and upgrade to a 5 room or EA or even a private. But if the intention is about capital appreciation, you might need to consider, EC or Pte too... Though Pte would make much more sense(cents) as you might not need to consider the 40k levy. But will have a higher monthly installment due to a higher loan quantum
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Investments

Savings

Retirement

HDB BTO

Property

How should I go about earning the capital for BTO in about 5 years time? I am targeting 50-60k by then?
Cash Flow Firstly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a Guide: Understanding Your Personal Cash Flow Goal Next, let's assume that the goal is to accumulate $60k for your BTO. In other words, that is equivalent to saving $12k annually, or $1k monthly. At this point, we will revisit your cashflow to determine your saving ability. This helps us to understand whether there are any unnecessary expenses that we can trim. Meanwhile, it is better to plan for your retirement today rather than to wait for your house to be completed first. This is simply making use of the power of compounding interest - start small, and let the amount build on its own. Above all, the power of compound interest is stronger than to start later, with a higher amount or longer contribution period. More Details: What is Compound Interest Brainstorm Thereafter, evaluate all the tools that are able to help you reach your goal. For instance, if you can find a tool that generates 3% yield annually, then you will only need to save about $925 monthly instead of the original $1,000. For this purpose, you may wish to have a mixture of tools that generate guaranteed returns (lower risk) and some with volatility (potentially higher return). The exact mix of portfolio will depend on your risk appetite as well as on your cash flow planning. Budget Finally, create a budget that is capable of helping you to plan for the future. The best way to do this is via automation. How I do My Budget: How to create a Monthly Budget Don't forget to do regular reviews on stay on track to your goal. I share quality content on estate planning and financial planning here.
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HDB BTO

CPF

Retirement

Savings

Investments

SeedlySOS

Are there any disadvantages or penalties for clearing HDB loan fast? (Eg 5yrs)?
No penalties. The "disadvantage" is that you are locking your money into your flat very quickly when you could have drawn more value out of it via investments and/or top-ups to CPF SA. The advantage will be a peace of mind. Before you clear your loan quickly, please verify that you will not have any other more expensive loans in the near future (e.g. credit card loan, car loan, personal loan, etc). Also, when your loan is still ongoing, always ensure you have at least x months (where x is usually 6) of monthly instalments ready in your bank account or CPF.
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