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HDB BTO

Build To Order HDB flats

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Resale HDB

Property

Loans

HDB BTO

CPF

L
LWJ
Level 6. Master
Answered 11h ago
Not sure what is the intention but I do not see the benefit. When u r selling, u will incur some cost like agent fees and legal fees, that will cost ard $15k. When u buy, u incur agent fees again plus legal fees, reno, mover, etc, thats approximately another $40k. So total sunken cost is around $55k. $450k plus $55k, that's about $505k, same as yr selling price, u don't gain anything and u get stucked for another 5 years.

HDB BTO

CPF

Property

Your GF needs to contribute 8% to medisave continuously for 12 months to be considered as self-employed. The grants will be assessed then. Tax is payable as well, as she is earning above 20k a year. If there are no supporting documents, you will not be eligible for a home loan as there is no income. But if you succeed for the grant, current standing order is that they will not ask for it back. But it might change due to regulation, although unlikely. Click here to find out more about me!

Lifestyle

HDB BTO

janedoe
janedoe
Level 4. Prodigy
Answered 6d ago
My boyfriend and I applied for Canberra for the following reasons: 1. We were planning on a 4 rm initially but once we saw the floor plan for the 5 rm in Canberra, we were sold. The extra space could be converted into a usable space, which would be good when we expand our family. 2. It's right next to the mrt, yes it's about 30mins to town, but being right at the mrt station is too good a deal to pass up. 3. The upper limit of the TPY 4 rm price-wise is absolutely insane. Yes, TPY is an amazing location, but with the money we save, we can easily get a small car. These were our considerations. Good luck in the ballot!

Investments

Savings

HDB BTO

Resale HDB

Loans

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 to help you: https://www.blog.pzl.sg/understanding-your-personal-cash-flow/ Next, it will be helpful to create a spreadsheet that is capable of helping you perform some tracking and analysis. For the most part, we will need to understand your objectives, e.g. to sell the house in a few years, or to create a stream of income that is higher than the loan rate. Thereafter, we will calculate the opportunity cost involved to find out how much time we have in order to grow the money in a sensible manner vs to prepay your housing loan. In general, the interest rate from your mortgage is guaranteed while any form of investment yields only non-guaranteed returns. Hence, this is a key factor for consideration when choosing the latter. As a result, there is no certainty on whether you will clear your loan earlier or not without detailed financial and portfolio planning. Here is everything about me and what I do best.

HDB BTO

CPF

Property

Loans

Payments

Interesting question! Even though it is possible, it doesnt mean one should do it, especially since you are forsaking using illiquid funds (CPF) for liquid funds(cash) for your housing purchase. I treasure lliquidity a lot so I would definitely want to drain my CPF OA before using cash.

Loans

HDB BTO

Resale HDB

Go to a bank and apply for it. They will help settle the legal, and other stuff. These will involve some fees. Challenge is eligibility. If your loan too small, the bank won't want to refinance for you.

CPF

HDB BTO

You need to know your long-term outlook. Are you going to sell the place in the near future or will it likely be a permanent home? By understanding your outlook, you will be able to plan for cashflow that works in the right direction. Let me give you an example based on $500k loan @ 2.6% loan rate. For 25 year loan, our monthly instalment will be $2,269 and the total interest paid will be $180,504. For 15 year loan, our monthly instalment will be $3,358 and the total interest paid will be $104,356. For the first 15 years, our comparison will be the repayment outlay, which is a difference of $1,089 monthly. Now, the key question will be value of this $1,089 to generate a return that is higher than the difference in total interest payable over time. This will be the direct opportunity cost that we will face - e.g. are we able to afford to pay the additional $1,089 monthly? Is the approximate $250 monthly interest worth the stretch? If you are using CPF to repay the house and wish to sell the house some time later, then it may make sense to reduce the accrued interest in your CPF account. If you plan to stay for the long-term, then go back to the earlier paragraph to do a detailed breakdown to find the right risk-return point for your opportunity cost. Here is everything about me and what I do best.

HDB BTO

Family

Marriage

It’s possible. But here are a few factors to consider before deciding whether or not it is advisable. 1. What is the intention of the house purchase? Is it to be a permanent place of domicile? 2. After considering the first question carefully, you might than ask whether or not you actually want to get a BTO due to the process as opposed to resale. The time cost of 3-4 year might not be worth it in some cases for some couples, especially given your budget and flexibility, the BTOs you can get might not be in a convenient location. 3. While the cost of the option to buy is low, you might want to take into consideration resale as the process saves you time, which is also an important asset you need to take into account, not just the dollars. Click here to find out more about me!

Property

CPF

HDB BTO

Career

Salary

CWJ
CWJ
Level 4. Prodigy
Answered 2w ago
In applying for BTO, HDB looks at your income via your CPF statements. It doesn't matter whether or not you're a full-time student. Rather, it's what your declared income (and hence CPF-liable income) is. As for grants, even if your income exceeds a certain bracket for the grant, you may still qualify for a lower bracket and be disbursed a lower grant amount. Hope this helps and feel free to drop any more questions!

HDB BTO

Resale HDB

Property

Gabriel Tham
Gabriel Tham
Top Contributor

Top Contributor (Jan)

Level 9. God of Wisdom
Answered 2w ago
Singles cannot get 3 room BTO. Singles can only apply for 2 room BTO. 3 Room resale is possible. You get a singles grant if your income does not exceed $7k. You can also get proximity grant if you apply within 4km of your parents house. https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/single-singapore-citizen-scheme-or-joint-singles-scheme
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