Search Results for: hdb

What Are The CPF Housing Grants For HDB BTO and Resale Flats

Heartland Boy was very impressed with Jeraldine Phneah’s savvy use of the housing grants available to reduce the cost of her HDB resale flat. He compares this with his own experience where the Heartland Couple did not enjoy any subsidy when they bought their HDB BTO in 2014. It got him thinking about how the various CPF housing grants available for HDB Resale and BTO flats. Besides factors such as the length of the leasehold, waiting time, CPF housing grants will add a further dimension to the age-old dilemma of HDB vs BTO. CPF Housing Grants are critical because...

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Special Offer! Get divorced to get another HDB! Wait, What?!

I saw this article, and I was pretty amazed. A couple divorced so that they could get another HDB and rent out their existing one. Heh. The loopholes in our system are so big and open to exploit if you don’t mind to play the system. Let me help you weigh the pros and cons since we are both intelligent creatures of reason: Cons: – No longer married on paper, boo hoo hoo oh how tragic and sad Pros: – You can get another HDB so you can rent out your previous one Sure, there’s like spousal rights and...

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Visualizing the Affordability of 4 Room HDB Flats and Rental Growth

About 80% of the Singapore population live in HDB flats. And a large number of us lived in 4 room HDB flats. HDB flats form the basis of the government’s plan to ensure that the population have affordable shelters. It is debatable whether the HDB is a way that they wish for us to build our wealth. The late prime minister Lee Kuan Yew have said in past speeches this is the case. This was reinforced in the 1990s by Goh Chok Tong and then eventually by minister Mah Bow Tan. I see 4 room HDB flat as the...

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HDB Flat Purchase Chronicles – Our Househunting Story

This article is part of a series that shares my journey to becoming a homeowner for the first time. Eventually there will be more article(s) that not only covers the actual cost, but also the process of purchasing resale flat using the HDB Resale Portal. As of now, my wife and I are still getting some documents for the Resale Application sorted out and if everything goes smoothly, we’ll finally become homemakers by the start of June! :) Previously, I talked about our expected expenses and financing of our upcoming HDB Flat Purchase here. How it began Having stayed...

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Should I Let HDB Wipe Out My CPF OA Before Collection Of Keys

After waiting for 4 long years, Heartland Boy will finally be able to collect the keys to his BTO. Not yet, but soon enough for him to start pondering about keys collection. Since he is likely to apply for a HDB concessionary loan, his thoughts inevitably swing over to the prospect of HDB wiping out the entire balances in his CPF Ordinary Account (‘OA’). This is the process whereby HDB will deduct whatever balances remaining in the CPF OA, thereby reducing the mortgage quantum, before granting the applicant a HDB loan. After doing some research online, Heartland Boy realises...

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HDB Flat Purchase Chronicles – Prelude – The Expected Financing and Expenses

This article will be part of a series that shares my journey to becoming a homeowner for the first time. There will be more article(s) that not only covers the actual cost, but also the process of purchasing resale flat using the HDB Resale Portal. To date, my wife and I have paid the Option-to-Purchase (OTP) Deposit, and are awaiting the result of the HDB Resale Application. The below breakdown is our expected expense overall – actual amount may differ. Resources: Flat Purchase 1) Flat Purchase Price $335,000 – OTP Grant Deposit $1000 (Paid via Cash) – OTP Exercise...

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Effect of Compounding Part 2 – Early Repayment for a HDB Housing Loan

In a previous post I mentioned I will revisit the effect of repaying HDB Housing Loan earlier (link here). I believe thoughts of repaying the HDB Loan must have crossed the minds of some homeowners out there to finish paying off the mortgage earlier with the goal of becoming debt-free. This post will explore the example of doing early repayment for a $300,000 HDB Housing Loan. Let’s call this homeowner with this loan Mr A. If we recall the formula of compounding: Paying off a $300,000 HDB Housing Loan (prevailing interest rate of 0.1% above CPF-OA Interest, which is...

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Visualisation of HDB resale prices in Singapore

Have you wondered where is the best place to buy a HDB resale flat in Singapore considering your budget or the remaining lease left in different towns in Singapore? I’ve been exploring data analysis through visualisation and did up a dashboard of the various resale prices in different towns in Singapore. This is done using the data on data.gov.sg. It is often hard to find all the information we need as its all over the place even when we have Google search. With visualisation, we can see the data at one glance. The visualisation software I am using for...

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SRX HDB price report for the month of January

SRX figures show that resale volume in the HDB market has dipped from 1,587 units transacted in Dec 2017 to 1,089 in Jan, based on flash estimates. This represents a 31.4% decline, the largest in magnitude over the last 12 months. The resale price index has also fallen to 132.6 in Jan 2018 from 133.2 in Dec 2017. This represents a month on month decline of 0.5%. Compared to a year ago when the resale price index was 135.1, prices have fallen 1.9%. The trend of declining HDB resale flat prices continues. With prices and volume both declining, it...

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HDB resale prices continue falling

HDB released their fourth qurater 2017 property market information and the Resale Price Index tracked by them showed a fall of 0.2% on a quarter on quarter basis and a fall of 1.5% on a year basis. The quarterly decline is less negative than the -0.7% registered in 3Q2017, but the decline of 1.5% on a yearly basis is the most severe since 4Q2015 when prices fell 1.6% y-o-y. Between 4Q2013 and 4Q2017, there has been only one quarter of positive yearly increase in 3Q2016, and that was for only 0.1%. Between the peak index reading of 149.4 in...

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Pay home loan and HDB housing grant fast?

Reader says… I hope you bear with me while I share the info about it – resale flat was purchased at 480k and I got a hdb housing grant of 50k for 1st timer. My fiancee and myself went for a bank loan instead of hdb loan. The loan principle I have to service is 384k. I would really appreciate your advice/guidance to my following questions: a. I thought of repaying my housing loan using cash instead of cpf. I think this is still manageable from my side from a cash liquidity perspective since I could save on the chargeable...

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On HDB Housing Related Thoughts. Again

So I saw one of my Facebook friend shared out this article titled Stark Reality: Singaporeans Waking from the Housing Dream. It was written in Jun 2017. And it is long. This article provides: History of the role of public housing Narratives by various parties on this issue over the years Questions from the public regarding the mix signals they are receiving on this leasehold condo-rum Not being inclusive due to the stringent rules Housing affordability versus other countries, with our higher cost of living and large contribution to social security An attack on my friend 15 Hour Work Week...

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One Small Step Towards Financial Security – HDB Loan

It is once again the time of the year when I review the good, the bad and the ugly of the year. Pleasantly surprised when I did the maths on my outstanding HDB loan vs my CPF-OA account. The government gave me a nice gift of $3000 in my CPF-OA and $2000 in my CPF-MA for my outstanding contributions towards defending our nation. You might remember my stand on HDB loan if you have read my previous posts. I’m not a big fan of voluntary top-ups and OA-to-SA transfers for reasons of my own. I bought my HDB apartment...

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Should HDB owners upgrade to private property now?

Have prices of private properties bottomed out and is it the right time to buy private property now? If so, should you buy freehold or leasehold properties? To answer these questions, it depends on whether you are an upgrader or investor. Recently, I received the following email from a follower and decided to share some of my thoughts. Hi Gerald, I am a big fan of your blog. It’s very informative and insightful. Currently we are staying in fully paid 4room HDB flat. My husband and I have been searching for property to upgrade this year. We are looking...

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HDB TO PRIVATE PROPERTY? LEARN HOW

Dear readers, if you have dreams to upgrade from your HDB flat to a private property, remember to catch part 3 of the video below. <script async=”” src=”http://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js” type=”text/javascript”> </script> <ins class=”adsbygoogle” data-ad-client=”ca-pub-9691131201362101″ data-ad-format=”fluid” data-ad-layout=”in-article” data-ad-slot=”5118342151″></ins> <script type=”text/javascript”> //<![CDATA[ (adsbygoogle = window.adsbygoogle || []).push({}); //]]&gt; </script> Join the <a href=”https://docs.google.com/forms/d/1eYyFpV4F31zw750WZxcgu9kO6lJD-MYIkDk6G1w0j1w/viewform”>emailing list</a> to receive regular Financial and Singapore stocks newsletters too! Like” me on <a href=”https://www.facebook.com/SgStocksInvesting/”>Singapore Stocks Investing Facebook page</a> to receive all posts on your Facebook as well as read more articles. Follow me on <a href=”https://twitter.com/sgshortstories”>Twitter</a> too....

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