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HDB BTO

Build To Order HDB flats

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HDB BTO

Resale HDB

There is no such rule, but there is a re-sale levy that needs to be paid if you wish to buy a 2nd BTO. https://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat/financing/computing-your-estimated-sale-proceeds/selling-a-flatresale-levy

HDB BTO

Great question! In order to answer this properly, it's best if you have an idea of what to expect at each stage of the BTO buying process, as well as the overall timeline. In fact, CPF created this very helpful infographic which should give you a very clear understanding of what the timeline is like: ! Source: CPF Now, to answer your question regarding which stage of the BTO process do you apply for the Enhanced CPF Housing Grant (EHG) . This happens at Step 4: Book A Flat. So what happens exactly? Booking A Flat Your BTO queue number will determine your priority in choosing your desired unit in the development your applied for. For the really popular launches, the number of people in the queue will usually exceed the number of units available. So if your queue number is damn cui, chances are slim that you'll get a unit - much less be able to pick the one you want. But let's assume that your queue number is pretty good and you're informed that you should head down to the HDB Hub to book/select your flat. You turn up with a few options in mind and select your unit by telling the HDB staff your choice. Once the staff locks it in, you'll have to pay an option fee on the spot. This will be $500 for 2-room flexi flats, $1,000 for 3-room flats and $2,000 for 4-room or larger. This is also when you will apply for your eligible CPF housing grants . Simply inform the staff that you would like to check and apply for the grants and they will assist you with the process. I'm guessing you already know this, but I'll just state it here for the benefit of readers who aren't aware: as of 11 September 2019 , you won't have to contend with the Additional CPF Housing Grant (AHG) or the Special CPF Housing Grant (SHG) anymore because they've been replaced with the Enhanced CPF Housing Grant (EHG) . Eligibility For EHG To be eligible for the Enhanced CPF Housing Grant, applicants or their spouses must have been employed continuously for at least 12 months . This is in line with other HDB schemes and grants. More importantly, applicants must buy flats that they can call home until they reach the age of 95 . For flats which fail to meet this condition, the EHG will be pro-rated based on the extent that the remaining lease will cover them till that age. If you'd like to find out more about the EHG and how it might potentially benefit you. Seedly has a pretty informative guide to The New Enhanced CPF Housing Grant. There're also a few scenarios illustrated which you might find relevant to your BTO journey ! Good luck!
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Lifestyle

Savings

Family

Retirement

Investments

HDB BTO

CPF

Hey Anon, Its alright if you are financing your flat solely on CPF for now. Address one area at a time, in the future when your cash flow allows, you can always review your financial situation and work from there. It’s okay not to have a lot of savings for now, but make sure it is growing every month, set aside 20% of income and split them into different instruments. Add another 5% for your child’s education planning. If you do not have 6 months of income as emergency fund, make sure to work towards it too. Communication and clarity will a good first step towards financial planning. Talk to your husband and be clear of what each individual is aiming for and as a couple what are your goals. Speak to your advisor and have a professional opinion. If I can sum up, as a very basic guide, just ensure 10% of income goes into wealth protection (insurances), another 20% into savings, you can put them into different instrument. 5% towards your baby girl education. 😊 Try to keep expenses to about 50-60% of income. speak to an advisor to get professional advice too.

Property

Family

Lifestyle

HDB BTO

Wedding

Renting out 5room still gets you more rental income than 4room it's sort of a grey scheme to get cash out of of your CPF- you finance your home with CPF payment, but you get cash payments from the tenants =) If it's me, just that alone will convince me to buy the 5 room because it will be 4 rooms available for rental (after you satisfied the MOP, of course. if not, it will be 3rooms, since you need 1 room for your residential stay for 5 yrs) Check with your bf's reason for smaller flat , he may be worried of the first downpayment (not enough CPF or cash) or renovation, or the interests in the long run. Do the maths with him. In the long run, rental of more rooms definitely justify the extra interests and payment for a bigger flat. (this is why every business wants to do bigger scale, not smaller scale) On the other personal matter:- Renting out and staying with parents are going to be very good financially... but you will lose some privacy , some leisure. It's a wise move financially ...

HDB BTO

Sales of Balance Flats. 1) Nearer to key collection (maybe key ready). 2) price is more costly than BTO (near to resale price). 3) A resale levy to pay depending on the flat you sold. 4) longer lease term than Resale.

HDB BTO

If husband and wife both ok, then ok. If either one not ok, then don’t lo. https://www.hdb.gov.sg/cs/infoweb/residential/renting-out-a-flat/-bedroom/renting-out-your-bedroom/regulations-for-renting-out-bedrooms

Resale HDB

HDB BTO

Marriage

Property

Zen Rogue Xuan
Zen Rogue Xuan

()

Level 5. Genius
Answered 3w ago
Hi OP, In my opinion, you should opt for a resale flat, as compared to a BTO. This is because BTO is more for couples who can afford to wait by staying in their parents' house and saving during the 3-4 years wait for the collection of keys of the BTO. While BTO flat may be cheaper than the resale units by 20-60k, many will choose to do renovation which will cost quite a bit. Furnishing said BTO would also be an expensive endeavour, requiring big-ticket items like aircon, wiring, ceiling fans, water heater etc. In this manner, whatever "savings" you get from BTO can be easily wiped out by the cost of making it livable to your taste. Also, as you mentioned, if you rent a place, the money you spend on rental(800-1000/month) can be better put to use servicing your mortgage loan. On the other hand, resale flats are more for couples who are willing and able to get a place of their own, as the units are already renovated, and in a "ready to move in" condition- the seller might even leave appliances and furniture behind, as the cost of relocating such used items may be too high and they would prefer to get new ones. Resale also has a wider choice, and you can use the free market to browse around and negotiate for a better price! Furthermore, due to the uncertain economic outlook, prices of resale flats have been falling so you might just snag yourself a great deal:)

Career

Insurance

Savings

HDB BTO

S
Shieleen

()

Level 3. Wonderkid
Updated on 18 Jul 2019
Finance industry is volatile. It is not that glamorous and rosy as what people thought it would be. The key is to stop that mindset of taking ‘shortcut’. Be realistic and do within your limits. Now you have the goal of getting BTO in 3 years time, you should start looking at your financial planning and start having other achievable goals e.g. every month save $xxx for mortgage and $xxx for renovation, cut down on other expenses etc. Sales job will generate high income IF you are hardworking, got that wit and discernment to make it high up there. Nonetheless, it all still takes time, so be aware of timeline. Good luck!

Marriage

HDB BTO

Nope. You have until 6 months after receiving your keys to provide your marriage certificate. :) So if it's BTO that's gonna be built in a few years time, you have a lot of time to get married.

HDB BTO

Kang Jun Ng
Kang Jun Ng

()

Level 2. Rookie
Answered 3w ago
Based on personal experience.. they calculate the grants and HLE based on two different timings... Grant - On the date of application. HLE - It expires every 6 months. Hence, when leading up to your key collection, you have to possess a valid HLE.
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