Resale HDB

Resale HDB flats in the market

ASK A QUESTION
  • Recent Activity
  • Unanswered
  • Trending

Resale HDB

HDB BTO

CPF

Insurance

BL
Brian Lee,
Level 3. Wonderkid
Updated 8h ago
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.

Resale HDB

Property

CPF

AMA 1M65

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
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.

Property

Savings

General

Resale HDB

Jennifer Goh
Jennifer Goh,
Level 3. Wonderkid
Answered 2w ago
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 Chow
Douglas Chow, Chief Enlightenment Officer at Empower Advisory
Level 3. Wonderkid
Answered on 26 May 2019
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

Douglas Chow
Douglas Chow, Chief Enlightenment Officer at Empower Advisory
Level 3. Wonderkid
Answered on 26 May 2019
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

Property

Resale HDB

Chin Guo Qiang
Chin Guo Qiang,
Level 3. Wonderkid
Answered on 12 May 2019
Hold on if your current flat is HDB Resale flat. For buyers, the implication won’t be very volatile since flat prices don’t move a lot. This can be a potential time period for good deals on HDB Resale Flats, if coupled with good bank housing loan deals (Housing Lian % falling below 1.8% that is)

Property

Savings

Retirement

CPF

Loans

HDB BTO

Resale HDB

Keep the buffer if your loan amount can cover the excess 20k. This does 3 things: 1. You earn an extra 700 in your OA every year via interest. 2. Leaves a buffer in case you need to dip into future OA if you're tight on cash for some reason. But 3. You take on a bigger loan, which is an extra 90 dollars a month or 7000+ of interest over 25 years (the numbers here differ because first is principal plus interest repayment, the other is just total pure interest). But 7000 plus of extra pure interest is earned from your OA in just 10 years. So you net earn from leaving the 20000 behind which again you can tap into anytime you can't pay with cash.

Resale HDB

Han Jinyuan Larry
Han Jinyuan Larry, Senior Lifeguard at Certis
Level 2. Rookie
Answered on 16 Apr 2019
Here’s the link for request valuation https://services2.hdb.gov.sg/webapp/BB31ERESALE3/BB31SMain

Family

Wedding

Lifestyle

Property

Resale HDB

HDB BTO

HC Tang
HC Tang, Financial Enthusiast, Budgeting at The Society
Level 8. Wizard
Updated on 18 Mar 2019
Congratulations for getting new house😃 Some opinions and suggestions below : 4 rooms HDB as the size different lies within the bigger living room space. So whether you have 2 kids or 4 kids, makes no different since the number of bedroom remains at 3 (be it 4 or 5 room HDB) ( where parents take 1 and kids takes the other 1 or 2 room alone or share). Unless older 5 room HDB, then it might possible to have 4 bedrooms. On the other hand, other factors to consider too: (A) Cost Not only price of 5 cost more than 4, any extra ongoing monthly maintanance cost and annual property tax is also higher for 5 than 4. Over long terms it also adds to quite a sum. The annual incentives such as those packages announce with Budget such as GST voucher, S&CC rebate is more for 4 than 5 rooms HDB. Thus quite a substantial savings on going to keep cost low monthly. (B) Cleaning Though only smaller living room space, the extra maintenance is also an effort monthly for as long as you own them. (C) Selling demands In the future, if you're thinking of selling to upgrade , 4 rooms demand is always more than 5 rooms due to smaller family nucleus and lower cost. Finally , if you're looking at BTO over resell , the space BTO 4 vs 5 could make a big difference. As much as possible , find out the total size and go to a similar flat layout of your friends to take a look and get a feel of the size to choose the most comfortable size. Cheers

Property

Resale HDB

HDB BTO

This is exactly what I'm doing. I'm not planning to have a baby in the 3 room flat. So just husband and wife. Also, this allows us to only pay a $500 mortgage via cash, frees up cashflow for investing. After 5 years, hopefully straight to condo or landed. Rule of thumb to follow for home affordability is: Your home should never cost more than 7 X the combined annual income of the family. Preferably 5 X is sufficient. So if household income is 100k, a 500k house is perfect, but never buy more than 700k.
Load more questions