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A roof above your head or more?

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HDB BTO

Property

Tips for couples both in uni looking to BTO? Any things to look out for to take advantage of?
Yes! There is a Grant you can take up! I think its like 20K plus grant if im not wrong when i applied for mine. Do check it out!

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Property

Is a buyer's agent really necessary and worth to have?
Daniel Kok
Daniel Kok
Level 5. Genius
Answered 1d ago
Not necessary to have. I actually bought my house without going through an agent. I was upfront with the seller and told him that if he would like to seal the deal, he might have to help me with the process which he gladly did.

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AMA The Woke Salaryman

HDB BTO

Resale HDB

Property

Could you explain in layman terms what are the differences between BTO and resale flats? How would you explain the Singapore housing landscape?
He Ruiming
He Ruiming, Co-Founder at The Woke Salaryman
Level 5. Genius
Answered 1d ago
BTO – cheap subsidised flats from the government. They are affordable but you don't get to pick your exact unit, as well as exact location. They also take awhile to build. So they are cheap, BUT there are trade offs. Resale – Flats that have been on the market for at least five years, and being sold by the owners. Obviously your flat is ready, you can pick the location, you can pick the unit. But they are not subsidised. You want a cheap flat, the owners want to sell as high as possible. The price is the result of these two forces. Singapore's housing landscape can be summed up like this: HDB: Most of the people, even those 'high earners' earning up to 11/12k should consider this a first choice. Don't pay too much for a HDB flat. They are meant to be affordable. (I live here!) Reasonable range, IMO: $220,000 - $500,000 Private Condos and apartments: Once you enter private territory, prices will start to sky rocket as Singapore is home to alot of wealthy foreigners. I personally would not live in a condo unless I was making $20,000 a month. What I would do though, is buy a condo for investment, and rent it out to rich foreigners, assuming Singapore can still attract wealthy and successful foreigners in the future. Landed property: Foreigners can't own landed property in Singapore, unless they become Singaporean (which is easy if you are like James Dyson). The upper middle class Singaporeans and above mostly live here. Decent landed property prices start at $3million The good class bungalow people: Expensive people living in expensive houses. Upwards of $10 million. Istana: Not for sale.

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AMA The Woke Salaryman

HDB BTO

Property

What can I do to increase my chances of getting a BTO? My fiance and I have been trying for the 4th time and we are still unable to get our ballot. Is getting a BTO flat simply based on luck?
J
Just_Saying
Level 4. Prodigy
Answered 1d ago
- All first time applicants get additional ballot chances. - If you failed to get a queue number for 2 consecutive ballot on non-matured estates, you will be given another additional ballot chance. - Apply for non-matured estate for better chance of getting a queue number as matured estates attract more applicants in general. THe rest is based on luck. I personally got a queue number only after 5 tries, and i got a queue 600+ on my 6th try in a non-matured estate. Tough luck but i think some pple are lucky, some are not.

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Property

CPF

If parents are above age 55, should they withdraw money from CPF to pay for housing in order to avoid incurring accrued interest? Instead of using CPF to pay directly.?
Shengshi Chiam, CFA
Shengshi Chiam, CFA, Personal Finance Lead at Endowus
Level 7. Grand Master
Answered 1d ago
Hi Anon, Accrued interest is just a way for CPF to ensure that Singaporeans have enough saved up for retirement when they sell the property. If your parents are 55 years old, CPF is effectively a high interest savings account that has daily liquidity for them. If your parents have cash sitting in the bank earning a paltry interest, you should encourage them to do a voluntary refund into CPF and earn the higher interest. I encourage you to read more in our article here: https://sg.endow.us/2FVvbew

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Renovations

Resale HDB

Property

How much would it cost renovating a 30y/o resale 1100sq ft HDB, anyone has experience?
J
Just_Saying
Level 4. Prodigy
Answered 1d ago
It depends on the quality of tiles that you are changing and the expectation of the toilet refurnishing. It will be better to talk to the contractor directly. In my opinion, it can cost from $25k to $50k.

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Renovations

Property

HDB BTO

What is the theme that you would want for your ideal home? Been thinking between minimalistic / modern / urban / zen... Something that looks good but also low maintenance. Ya'll got any preferences?
Emi
Emi, SLP at Adelaide
Level 3. Wonderkid
Updated 3w ago
Minimalist. I mean...the SG environment is already feeling so cluttered and oversaturated, so I don't wanna come home to a cluttered house! Scandi/minimalistic homes tend to feel somewhat cold to me so warm tones are great, mix of light and dark wood, whites and neutrals. There are great options for laminate/wood like tile flooring that are waterproof/scratch resistant so I'll likely be going for that! something like this house perhaps? :) https://instagram.com/cocoyuko_?igshid=jrjb4s0a7zuu

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HDB BTO

Property

Generally, how many years left for the HDB would the price start to depreciate?
J
Just_Saying
Level 4. Prodigy
Answered 1d ago
Price of HDB (99 years lease) will start to depcreciate from day 1, considering all other factors remain constant. The actual resale price of a flat however might be different from the value of the flat, as resale price is based upon the buyer and seller, which can be very subjective. However in general, I would say that HDB prices resale price will start falling at a faster rate after 35 years.

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Resale HDB

Condominium

EC Condominium

Property

Marry soon, want to move out. Housing options? BTO, EC, resale out of the question. Not keen on rental too. Only option is private condo? Will die sial combined income only $8k+ take home. How?
J
Just_Saying
Level 4. Prodigy
Updated 1d ago
I think another option is to do a tranfer of private property ownership by way of gift from your fiancee to some other trusted party to continue to hold as an investment. You probably will need to fork out only some legal fees and BSD for the next owner. The fees depends on the valuation of the private property though. Or perhaps another way is to buy the BTO under one name, but with your fiancee as an occupant of the flat to form a family nuclues. Im not too sure if this is feasible, will need to call HDB to check.

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HDB BTO

Property

Assuming I can afford private housing, should I still get a HDB first? Why/Why not?
N
Ninja
Level 7. Grand Master
Answered 2d ago
Paying almost a million for a private property when you can afford a hdb is a joke lol..that million can be used for other investment that generate much more.

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