Resale HDB

Resale HDB flats in the market

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Resale HDB
  • Asked by Anonymous

    Josh Tan Jian Liang
    Josh Tan Jian Liang
    23 Answers, 32 Upvotes
    Answered 3d ago
    I think Hariz has given a good rule of thumb for home affordability. It can help you stay financially prudent. :) Ive this video description to share with you on “should i buy a $750k HDB”
  • Asked by Anonymous

    Jacob Chong
    Jacob Chong, Executive Financial Advisor at PIAS
    11 Answers, 20 Upvotes
    Answered 3w ago
    No 1. on the list is do check with the banks and see if the loan quatum is the amount that they are willing to take. No 2. If i am not wrong there isnt many FD linked rates now. OCBC, UOB and Maybank have taken that down. No. 3. Dont take Sibor if you are someone who is worried about interest movement. 3months SIBOR has you to jump out of bed every 3 month because the rate changes and in current climax definetly not SIBOR. Leaving you with Fixed and Variable rates. Fixed Rates across all banks are about 2.3- 2.48 some higher. For that minimal saving of 0.2% off from HDB loan rates why bother. Variable are different across all banks. Some have Mortage Rate with a markup (ie. MR+0.75= 2.25 therefore you MR is 1.5 ), Some uses preferred rate (currently about 5.5%) then gives you a discount (Ie Preferred Rate -3% = 2.5%). Ranging about 2.18- 2.3 there about so there is still risk in the interest rate movement ya... Above are some of the examples and rates that I have gotten for my clients. Not for actual reference or quotation I hope what i mentioned will help you. CHeers
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    40 Answers, 80 Upvotes
    Answered on 04 Jan 2019
    The first property you buy should alway be the one you want to live in (and can tahan living in for life). The investment part should only be secondary and not your main reason for buying the house. This is my personal opinion only. This way, even if rental market is bad, you can alway move into your unit, and you also won't get "stuck" with a property that's inconvenient for you live in, when the property market is down. My unprofessional 2 bits worth of opinion is, HDB actually can potentially gave you a higher rental yield compared to private condos if you do it right, but you will be subjected to HDB rules. As the cost of HDB is lower, you can potentially get a higher monthly rental compared to your monthly mortgage, meaning you can get extra income per month. But you have to research to find out the average rental in the area and compare against the cost of the unit & your estimated monthly mortgage The best earnings from private condos is the capital gains you get from selling the condo, especially if you bought it at launch, rental usually will just try to cover mortgage & maintenance fees where possible, so its difficult to get a high enough rent for income, until your mortgage is fully paid up. In both cases, you need to consider that you can afford to pay the monthly mortgage, even without rental. I understand where you are coming from. It's the 6K Cap that is pushing you to make a decision so you don't regret missing the boat when you go beyond the salary cap. But don't buy for the sake of buying. If you do decide to get a HDB, it should be for the right reasons, and not just to avoid missing a boat. In the mean time, it doesn't hurt to shop around for a property while you are trying to decide. Was viewing private earlier for 1-2 years but couldn't find one at reasonable price. Took me about 1 year to find the right house after I decided to go for a resale instead. Knew it was the fated one, because I manage to get all emo viewing a house with no reno.
  • Asked by Anonymous

    Lee Chun Kiat
    Lee Chun Kiat
    15 Answers, 18 Upvotes
    Answered on 02 Jan 2019
    When you refinance you can choose to the repayment period you want (subject to bank's approval of coourse). It is no difference than taking a new mortgage loan from another bank, except the fact that there are some fees payable to bank (usually subsidized if you loan is more than xx amount, but take note that the bank will crawl back this subsidy if you refinance again within
  • Asked by Anonymous

    Nicholas Woon
    Nicholas Woon, Marketing Director at ERA Realty Network Pte Ltd
    19 Answers, 42 Upvotes
    Answered on 25 Sep 2018
    Hi, Short Answer I would recommend you to stick to BTO and upgrade later! Long Answer EA Affordability (I assume you're referring to resale EA) from $4xxK at Jurong West/Pasir Ris Executive flats cost an average of $6xxK in Singapore Assuming you are both earning about $3500 and age 25-30 with no outstanding loan, HDB Loan: Max loan of $419,000 (90% of property price) which translates to a property price of $465,000 if you are taking 90% loan and 10% CPF/Cash. Bank Loan: Max loan of $419,000 (75% of property price) which translates to a property price of $558,000 if you are taking 75% loan, 20% CPF and 5% Cash. I assume you would use the CPF Housing Grant to offset/partially pay the CPF portion in the payment. (ie. $40,000 CPF Housing Grant for both Singapore Citizens for 5 room and bigger HDB resale) From this calculation, EA is a viable option if you are comfortable with the locations which are further away from the city. However, you would need to prepare more cash savings or CPF OA if you intend to purchase an average EA that cost more than $600K. EC Affordability There is no outstanding new ECs in the market and the next launch would be next year in Sumang (Punggol). For the past 2 launches, there are no 2 Bedrooms so the most affordable option is a 3 Bedroom unit. The lowest price unit from the last launch (Rivercove Residences in Sengkang) was $830,000. Rivercove land bid price was $355psf while the next EC launch's (Sumang Walk/Punggol) land bid price was $583psf. We would expect this EC price of a 3 Bedroom to be at least $9xxK. (You can only apply for bank loan for EC) Bank Loan: $467,000 (75% of property price) which translates to a property price of $622,000 if you're taking 75% loan, 20% CPF OA & 5% Cash. You would be eligible for $30,000 CPF housing grant if both you and your partner are both Singapore Citizens and I assume you would use it to partially pay the 20% CPF portion. From the above calculation, I would not advise you to go for an EC as you would need a combined cash/CPF OA savings of more than $400K (ie. $9xxK - $467,000 - $30,000). As a rule of thumb, usually we advise couples with more than combined monthly income of $8000 to consider for EC unless you have cash savings or financial support from your parents. Conclusion Hence, I would suggest going for BTO first before upgrading! Hope I provided a clear explanation! :)
  • Asked by Anonymous

    Jim Ng
    Jim Ng
    47 Answers, 115 Upvotes
    Answered on 23 Nov 2018
    Hi, I just bought my HDB flat last month with my spouse and I managed to keep the first $20k (combined total) in both of our accounts. 1. Did you take a HDB loan or a bank loan? This mechanism is only applicable for HDB loans. 2. Also, does your HDB loan cover fully the purchase price of your flat, along with all the other stamp duty and legal fees? 3. Did you notify the HDB officer in writing during the signing of documents?
  • Asked by Anonymous

    Loo Cheng Chuan
    Loo Cheng Chuan, Founder at 1M65 Movement
    63 Answers, 184 Upvotes
    Answered on 07 Nov 2018
    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.
  • Asked by Anonymous

    Loo Cheng Chuan
    Loo Cheng Chuan, Founder at 1M65 Movement
    63 Answers, 184 Upvotes
    Answered on 07 Nov 2018
    - I cannot tell you what you should do but here is my advice. I am not a big believer of property as a good investment vehicle. - The 2 reasons for property prices to rise are Population Growth and Economic Growth. At the moment, none of these are growing in Singapore right now, hence I will not invest much into property right now and for many years to come. - That said, I make sure that I am not overleveraged on my property purchase and it is not stretched beyond my purchasing power. On that note, I have always lived in HDB and I am very comfortable in it. - I will be skeptical of using property as a tool for retirement because it does not necessary grow well and there is a lot of property risks involved. - It is also my view that Government being very careful about property bubbles being formed and regularly step in to prick little bubbles that brew in the property market.
  • Asked by Nicholas Chan

    Loo Cheng Chuan
    Loo Cheng Chuan, Founder at 1M65 Movement
    63 Answers, 184 Upvotes
    Answered on 07 Nov 2018
    One of the biggest hindrances to the 1M65 dream is the property dream that competes directly with it. As I have shared earlier, I also do not believe Property as a good investment tool. Hence, I do not plan to move out of my HDB as I am very comfortable living in one. Staying in a private property such as a Condominium will only have served to derail my plans to get rich.
  • Asked by Anonymous

    Yixiong Chang
    Yixiong Chang
    182 Answers, 238 Upvotes
    Answered on 05 Nov 2018
    It really depends what value u derive from this property. Only u can weigh how much the location is worth to u. Eg. some choose the location because it is close to parents, or work place etc. What would be the alternatives u are comparing against? BTO, private condo?
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