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Thread: 3 room or 4 room HDB resale

  1. #21
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    Default Re: 3 room or 4 room HDB resale

    Yup. 4 is better than 3.

    I am indeed eyeing on those 3 + 1 utility room type. Affordable enuf for me and yet have the almost 4 room feel....

    Renting out, not part of my financing plans at the moment. But for sure, my friends can stay over for an overnight kopi / chit chat or PS3 session.

  2. #22
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    Default Re: 3 room or 4 room HDB resale

    Actually, if possible, it would be better not to get a HDB flat at all, cause of the repayment of the loan. With the current guidelines, you have to get a loan from the bank, which will be floating rate after a few years. The 1st 5 years repayment, you will be paying about half your amount as interest. So unless you have got lump sum to buy flat at one shot, you will be paying for a lot of interest. That is, if you already got a place to stay. Moreover, you will tied down to Singapore for the next 25 - 30 years, or until you sell the place or pay off your loan.
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  3. #23
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    Default Re: 3 room or 4 room HDB resale

    Quote Originally Posted by melvin
    You no need to repay the housing grant but if u r getting a new flat u got to pay resale levy which is 20% for a 3 rm flat n 4 rm flat is 22.5% of the selling price!
    Pardon my mistake. It should be resale levy.

    But given that his single grant is only $11k, a 20% resale levy for a 3 rm or a 22.5% resale levy for a 4 rm can be quite hefty. So if you think you might want to buy a new flat in the future, then you will find that the single grant has become an additional liability. Imagine selling a 4 rm flat for $200k, the levy would be $45k. Correct me if my reasoning is wrong.

    But if you have no intention of getting a new flat in the future, then by all means, go for the grant.

    BTW, my house is also a resale 5 rm flat and I had taken a $40k near parents grant(or something like that). That is because I have no intention of getting new HDB flats in the future for I find the new flats too small for my liking I took quite some time to consider about the resale levy before I decide to take the grant and stick with resale flats or private property.
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  4. #24
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    Default Re: 3 room or 4 room HDB resale

    I was too thinking hard on the grant of $11k.

    Yes, it is $$$ to me. Perhaps, in shortsighted view, would be free $$$ from garment or a rebate of my lifetime's taxes paid previous and future.

    However, at 20% levy (penalty) and to break even the 3room that I was eyeing on - the flat that I will buy , would have to be sold at $66k or 1/3 the value that I had bought it ! Not possible leh, unless garmet change lor.

    I cannot say if I will never upgrade (as my experience with my bicycle to a 100cc - 400cc -1100cc motorbike upgrades AND the EF lens to L lenses experience goes). But never know if I am happy as a clam and stay put with the original idea with my ex-gf that we should take a 3 room, paid up the loan ASAP and recharge our bank account, to be ready for the 2nd / investment property. It sure beats the 80k minimum sum idea and I will be a landlord....hahahah

    So, I see that this HDB thingy was a built-in "vote ***" mechcanism that our scholars thought out. Should't they be spending their energy and efforts to make SG more competitive against that noisy neighbour in the immediate North or the rest of the world.

    At least here, unlike the neighbours in the North, my CPF can be used to help in the housing payment. Terms & conditions applies.

    So, I guess I will stick to the 3 + 1 room idea and keep my loan to acceptable level.

  5. #25
    Senior Member melvin's Avatar
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    Default Re: 3 room or 4 room HDB resale

    Quote Originally Posted by kelccm
    Pardon my mistake. It should be resale levy.

    But given that his single grant is only $11k, a 20% resale levy for a 3 rm or a 22.5% resale levy for a 4 rm can be quite hefty. So if you think you might want to buy a new flat in the future, then you will find that the single grant has become an additional liability. Imagine selling a 4 rm flat for $200k, the levy would be $45k. Correct me if my reasoning is wrong.

    But if you have no intention of getting a new flat in the future, then by all means, go for the grant.

    BTW, my house is also a resale 5 rm flat and I had taken a $40k near parents grant(or something like that). That is because I have no intention of getting new HDB flats in the future for I find the new flats too small for my liking I took quite some time to consider about the resale levy before I decide to take the grant and stick with resale flats or private property.
    BTW as long as u sell a flat u r required to pay resale levy regardless of Grant or no grant!!! Reale levy is to be paid in cash! no CPF or others.

    Private property as long as u dont buy executive condo its ok! Cos got Resale levy!
    Last edited by melvin; 14th February 2006 at 01:27 PM.

  6. #26

    Default Re: 3 room or 4 room HDB resale

    Quote Originally Posted by melvin
    Private property as long as u dont buy executive condo its ok! Cos got Resale levy!
    Izzent EC, EA, EM classified as Government (HDB Related) properties?

  7. #27
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    Default Re: 3 room or 4 room HDB resale

    Quote Originally Posted by melvin
    BTW as long as u sell a flat u r required to pay resale levy regardless of Grant or no grant!!! Reale levy is to be paid in cash! no CPF or others.
    I dun think so. It applies if you had bought your existing HDB directly or with a CPF housing grant. Otherwise, no.

  8. #28
    Senior Member melvin's Avatar
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    Default Re: 3 room or 4 room HDB resale

    Quote Originally Posted by RossChang
    Izzent EC, EA, EM classified as Government (HDB Related) properties?
    EA n EM r hdb property build by hdb!

    EC r bulid by private developers with HDB's rule n regulation. paper work n transcation r done exactly the way private property is being transcated.

  9. #29
    Senior Member melvin's Avatar
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    Default Re: 3 room or 4 room HDB resale

    Quote Originally Posted by Lensman
    I dun think so. It applies if you had bought your existing HDB directly or with a CPF housing grant. Otherwise, no.
    ya ... correct juz checked.

  10. #30
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    Default Re: 3 room or 4 room HDB resale

    I am working as an agent hope can give you some suggestion
    If budget is not a problem, would advises to go for 4 rooms as HDB has allow singles to buy 4 rooms which in turn will boost up the price of 4 rooms. moreover for rental it is much easiler and fetch a higher yield. 3 rooms apartment is phasing out soon... with the IR and properties prices going at a promising rate. the bigger unit will appreciate more...
    Hope you can find a dream home

  11. #31
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    Default Re: 3 room or 4 room HDB resale

    Get a 4 room if you have enough CPF...more rooms bigger area. Just in case 1 day u got married with kids, just incase ur parents moved in with u...just in case u wish to rent out more than 1 rooms.

    Anyway additional 50k stretch over 30 or 20 yrs is not that much.

    Just my opinion, the environment for 3 rooms HDB flat are usually not as good as 4/5 rooms, in terms of a few things...u get wat i mean?

    As I say, just my views

  12. #32
    Senior Member melvin's Avatar
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    Default Re: 3 room or 4 room HDB resale

    Quote Originally Posted by averyaba
    I am working as an agent hope can give you some suggestion
    If budget is not a problem, would advises to go for 4 rooms as HDB has allow singles to buy 4 rooms which in turn will boost up the price of 4 rooms. moreover for rental it is much easiler and fetch a higher yield. 3 rooms apartment is phasing out soon... with the IR and properties prices going at a promising rate. the bigger unit will appreciate more...
    Hope you can find a dream home
    Hi! which company you from? may be got a chance to work with you.

  13. #33
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    Default Re: 3 room or 4 room HDB resale

    Thanks for all the advice and comments. I had finally decided on a 3 room.

    Lets hoped that the paperwork is smooth. Didn't know that buying a flat is so mua huan....

    I am looking to do up my own nest soon.

    Only dream of having something with Balinese favor. But am unsure of what else can I do, i.e. no idea.

    Are there any interior decor magazine that you can recommend for me to study ? SO far I seen those highlighting the condo, S$m bungalows....very little on 3 room flats....

    Appreciate your comments.
    Last edited by Lensman; 28th February 2006 at 10:03 PM.

  14. #34
    Senior Member melvin's Avatar
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    Default Re: 3 room or 4 room HDB resale

    Quote Originally Posted by Lensman
    Thanks for all the advice and comments. I had finally decided on a 3 room.

    Lets hoped that the paperwork is smooth. Didn't know that buying a flat is so mua huan....

    I am looking to do up my own nest soon.

    Only dream of having something with Balinese favor. But am unsure of what else can I do, i.e. no idea.

    Are there any interior decor magazine that you can recommend for me to study ? SO far I seen those highlighting the condo, S$m bungalows....very little on 3 room flats....

    Appreciate your comments.
    I got a few good interior designer if its ok wif u pm me ur no i will get them to contact u!

  15. #35
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    Default Re: 3 room or 4 room HDB resale

    3 room also less to clean and cheaper to renovate and furnish

  16. #36
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    Default Re: 3 room or 4 room HDB resale

    I agree with ortega,less to clean and cheaper to renovate the house.

  17. #37
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    Default Re: 3 room or 4 room HDB resale

    Congrats to getting ur new nest!

    Magazine wise I think "Home decor" is more relevent as it's SG version with more info on HDB and small apartments.

  18. #38

    Default Re: 3 room or 4 room HDB resale

    What about the magazine Wallpaper? There are some excellent interior design work featured. I think you can borrow them from the Esplanade library.

  19. #39
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    Default Re: 3 room or 4 room HDB resale

    Wish you all the best in creating your dream nest/bachelor pad. A 3 room flat will be easier to maintain. With proper planning and design a 3 room flat can be very comfortable and more luxurious than a high class condo. After all what really matter is the interior design. (And maybe location...)

    Home Decor would be a good read. I got many ideas from that magazines. Even past issues will give you lots of ideas (can browas at the library...)
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