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Resale HDB

Resale HDB flats in the market

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Property

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

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:)

Condominium

Resale HDB

HDB BTO

Property

Junus Eu
Junus Eu
Top Contributor

Top Contributor (Aug)

Level 8. Wizard
Answered on 18 Jul 2019
It depends on your goal for the property: 1. If for investment purposes - favour rental yield and appreciation 2. If for self-stay purposes for the long run - then your own factors such as proximity to MRT/facilities/family etc

Property

Resale HDB

Loans

Milly Fbk
Milly Fbk

()

Level 3. Wonderkid
Answered on 14 Jul 2019
If you planning to buy an HDB and enjoy its grants in the future then you need to 'repay' back some money if you took up the grants for your current HDB. This is to ensure no one can forever enjoy subsidies forever. You can look at the quantum here https://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat/financing/computing-your-estimated-sale-proceeds/selling-a-flat---resale-levy

CPF

Retirement

Resale HDB

Zen Rogue Xuan
Zen Rogue Xuan

()

Level 5. Genius
Updated on 01 Jul 2019
It will depend on the amount you have in your CPF accounts and the year you turn 55. As you know, whatever sum of money that was deducted from your CPF OA to pay for your house, including HDB Grants, will be repaid back into your OA with interest accrued. Since you are on the old scheme called Retirement Sum Scheme, the Full Retirement Sum(FRS) is based on the year you turned 55 If your RA balance is below said FRS amount, the money will enter into RA automatically and monthly payouts would increase accordingly. On the other hand, if your RA balance is above that of FRS, the money in the CPF should remain in OA and can be withdrawn anytime:)

Resale HDB

Property

CPF

AMA 1M65

It is a good idea because cash carries a lower opportunity cost compared to the CPF OA. With the CPF SA, you actually get up to 6% returns where the HDB Housing Loan is currently at 2.6% interest rate. Hence, I would suggest you to use cash every month to pay for the HDB housing loan.

Resale HDB

HDB BTO

CPF

Insurance

BL
Brian Lee

()

Level 3. Wonderkid
Updated on 27 Jun 2019
You mean Term (Level Term) vs HPS (Reducing Term)? MRTA and HPS basically the same where it takes care of your house loan upon the insured death. MRTA is used by the bank and HPS is used by HDB loan that uses CPF monies. If Term vs HPS, then you can go to comparefirst website and generate the loan amount and see the premium vs what you are currently paying for your MRTA/HPS. You might be surprise the Term might cost about the same or slightly more than your MRTA/HPS. Maybe just to add some e.g. on how Term vs MRTA/HPS payout. Assume insured took $400k loan for 30years and bought the same protection. Death happen on year 20. A) MRTA/HPS will pay off the remaining 10 years (of about 168k) B) Term will pay the full 400k. So you can use the 400k to pay the remaining 168k loan and have additional $232k for other purpose. Bonus: You can "re-use" your term policy should you plan to sell current house and buy a new one.

Property

Savings

General

Resale HDB

Jennifer Goh
Jennifer Goh

()

Level 4. Prodigy
Answered on 13 Jun 2019
Costs of resale HDB resale flats can vary significantly based on factors such as location, amenities and condition. These are just an estimate of the costs for resale flats in 2019: Three-room: S$350,000 to S$380,000 Four-room: S$420,000 to S$550,000 Five-room: S$520,000 to S$700,000 You will probably use both cash and CPF savings for your flat purchase. Your financial planning should therefore cover: 1. How much cash is required 2. Amounts that can be paid using CPF savings Cash are used for the following payments: - Deposit to seller (a maximum of $5,000, paid in 2 stages: the option fee, and the deposit) - Part of the initial payment (if you take a bank loan, or have insufficient CPF savings) - Amount not covered by CPF savings and eligible housing loan amount - Cash proceeds from disposing the last flat if you are taking a second HDB loan CPF can be used for: - Initial payment in whole or in part (depending on whether an HDB or bank housing loan is used) - Partial or full payment for the flat purchase - Monthly mortgage instalments Hope this helps a little! :) Sources: - https://www.homeanddecor.com.sg/articles/91183-property-step-step-guide-buying-resale-flat - https://www.hdb.gov.sg/cs/infoweb/finplan - https://learn.moneysmart.sg/property/how-much-will-your-first-home-cost/ - https://www.singsaver.com.sg/blog/costs-of-bto-flat-resale-flat-ec-and-condo-in-singapore

99.co Event

Resale HDB

Investments

Property

Condominium

Douglas here, 2nd Keynote Speaker. That's fine. It's a common strategy that has worked for many Singaporeans. Just save up for it. You can always connect with me via https://www.facebook.com/douglas.chow.908 or simply whatsapp/sms my company 24/7 hotline @83324283 Remember, plan your finances properly, don’t overstretch, do your homework and enjoy your property investment journey. Regards Douglas Chow

Resale HDB

Property

99.co Event

Hi there Douglas here. 2nd Keynote speaker. This strategy is fine but pls take note that enbloc is not guaranteed. Have a plan B in case it doesn't go enbloc forever. You can always connect with me via https://www.facebook.com/douglas.chow.908 or simply whatsapp/sms my company 24/7 hotline @83324283 Remember, plan your finances properly, don’t overstretch, do your homework and enjoy your property investment journey. Regards Douglas Chow
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