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Thread: Buying HDB Flat

  1. #21
    Senior Member melvin's Avatar
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    Default Re: Buying HDB Flat

    Quote Originally Posted by Del_CtrlnoAlt View Post
    my area here, city view coming up... dunno how much...
    Hahaha.... How much u want?

  2. #22
    Senior Member melvin's Avatar
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    Default Re: Buying HDB Flat

    Quote Originally Posted by fotojoy View Post
    wah seh! REALLY ah? LAst mth I passed by ... still building leh... no window panes and all that.

    Is it nice? I balloted for it but didnt get the top floors so gave up :P
    There are some more coming up 800++ units (DBSS)coming at Lor 1A behind Blk 127 market at the empty plot of land in front of blk 141. Keep a look out soon will be launching soon either this or next quarter!

  3. #23
    Senior Member melvin's Avatar
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    Default Re: Buying HDB Flat

    Quote Originally Posted by Paranoia08 View Post
    Need to fork out cash even if it's a newly built flat?
    I'm not married yet, getting married next yr.
    I read on newspaper that in bishan, there's a design and build flat coming up.
    But It's not shown on website.

    How about those show flats?
    How much appx are they?
    Good or not?
    Brand new HDB flat only need cash for deposit.

    The only plus point is u just move in with your lauggage!

    Show flats normally not so adviceable as there are ID cost involved, unless u dun mind paying for them lor...(and normally is much much higher, dun ask me why!)

    Unless it is a brand new show flat if not i will not buy, prefer new n not romp through by prospective buyers!

  4. #24
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    Default Re: Buying HDB Flat

    Omg..
    So you guys mean that,
    if I want to get a newly built home, I need to wait for years for it to be completed.
    I can only get a resale home, if I want if soon.
    Please correct me if I'm wrong.

    So what are the good deals at the moment?
    I have been checking HDB website for 2 weeks, but they doesn't state the costs.

    For 5 rooms executive, appx how much will it cost?
    Only resale flat is it?
    How much upfront payment do I need to pay?
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  5. #25
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    Default Re: Buying HDB Flat

    Check HDB website for latest transacted resale units in the area you are looking at.
    Check Classified Ads for people selling in the area you are looking at.
    Compare prices.
    Call and ask, what is the actual valuation and how much COV they are asking for.
    Check bank account


    There's a reason why people don't get married in a hurry but plan things out in the long run. Doesn't make much sense to do any rushing unless you've got a really good deal or something. I paid for my unit in 2004. ROM in 2005. Wedding dinner in 2007. And... I'm still waiting for completion of my unit (expected no later than late 2009). Meanwhile stay with my in-laws lor.

  6. #26
    Senior Member melvin's Avatar
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    Default Re: Buying HDB Flat

    Quote Originally Posted by Paranoia08 View Post
    Omg..
    So you guys mean that,
    if I want to get a newly built home, I need to wait for years for it to be completed.
    I can only get a resale home, if I want if soon.
    Please correct me if I'm wrong.

    So what are the good deals at the moment?
    I have been checking HDB website for 2 weeks, but they doesn't state the costs.

    For 5 rooms executive, appx how much will it cost?
    Only resale flat is it?
    How much upfront payment do I need to pay?
    Yes bro, if u need a flat urgently then ur choice will be left with resale market n walk-in-selection cum balloting these are normally left over flats 4th storey n below, flats being recalled back by the hdb!

    Good Deals?............

    Bro, 5rm is a 5rm, Executive are executive ...no 2-in-1, 2 types of executive 1) Executive Apartments n Executive Mansionette.......all are of different pricing!

    Cash upfront will be COV + 20% of purchase price (cash) if you do not have enough CPF n Base on 80% loan!

    Resale price of a 5rm in Toa payoh median transcated price of $448k(3rd quater)! Median COV for 3rd quarter for 5rms in TPY is $50K!

    Using this example of purchase price of $448k.
    COV is $50k
    20% of purchase price $89,600. (base on the fact u are having 80% loan n do not have CPF)

    Which means the cash u got to come out wif is $89,600 + $50,000= $139,600.

    Contact me if u wan to know more or jus wan have a chat over kopi is fine wif me also! No obligation!
    Last edited by melvin; 3rd January 2008 at 04:40 PM.

  7. #27

    Default Re: Buying HDB Flat

    Wow... Boon Keng DBSS will cost from $350k for 3 room, $530k-570k for 4 room and $560k-$700k+ for 5 rooms! Crazy price! Really just paying for the location...
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  8. #28
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    Default Re: Buying HDB Flat

    Quote Originally Posted by Paranoia08 View Post
    Omg..
    So you guys mean that,
    if I want to get a newly built home, I need to wait for years for it to be completed.
    I can only get a resale home, if I want if soon.
    Please correct me if I'm wrong.

    So what are the good deals at the moment?
    I have been checking HDB website for 2 weeks, but they doesn't state the costs.

    For 5 rooms executive, appx how much will it cost?
    Only resale flat is it?
    How much upfront payment do I need to pay?
    My wife and I don't like to wait and prefer to have more privacy and specific location, so we pay more for the resale HDB flat at market price. Still manage to get government 30K grant at that point of time (10K more if location is close to parent).

    May be in the future (at least 5 years after 1st purchase? Or 3 years?) then we go and join those balloting for new HDB flat for the location we wish, but we will have to repay the govenment grant back (+ interest or not? )
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  9. #29

    Default Re: Buying HDB Flat

    now is really really a bad time to get a flat if you cannot wait.

    unless
    1) you got $$$$...
    2) you do not mind far far away location...

    is it going to get worst, that is the question.

  10. #30

    Default Re: Buying HDB Flat

    Quote Originally Posted by zcf View Post
    May be in the future (at least 5 years after 1st purchase? Or 3 years?) then we go and join those balloting for new HDB flat for the location we wish, but we will have to repay the govenment grant back (+ interest or not? )
    1st timer,
    Resales with grant = New flat


    If you are getting new flat for 2nd time, you need to pay resale levy unless you are getting a Executive Condominium (EC).
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  11. #31
    Senior Member melvin's Avatar
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    Default Re: Buying HDB Flat

    Quote Originally Posted by zcf View Post
    My wife and I don't like to wait and prefer to have more privacy and specific location, so we pay more for the resale HDB flat at market price. Still manage to get government 30K grant at that point of time (10K more if location is close to parent).

    May be in the future (at least 5 years after 1st purchase? Or 3 years?) then we go and join those balloting for new HDB flat for the location we wish, but we will have to repay the govenment grant back (+ interest or not? )
    5yrs cos u got grant!

    GRANT is given to u no need to return back! But if u intend to get a brand new flat from HDB then RESALE LEVY is applicable! How much will depend on what room size u having now!

    2rm resale levy is $15k, 3 rm resale levy is $30k, 4rm $40k, 5rm $45k, exec $50k!

  12. #32
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    Default Re: Buying HDB Flat

    i wonder what is the price for a 4room flat in ang mo kio area. anyone know?

  13. #33
    Senior Member melvin's Avatar
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    Default Re: Buying HDB Flat

    Quote Originally Posted by auron View Post
    now is really really a bad time to get a flat if you cannot wait.

    unless
    1) you got $$$$...
    2) you do not mind far far away location...

    is it going to get worst, that is the question.

    Is it getting Worst???

    The HDB resale market overall have risen 17.4% for the whole of 2007, 1st half of the yr we see only abt 2-3%, only picked up in the 2nd half! This may go on for the next 2 quarters surpassing the previous peak of '96!

  14. #34
    Senior Member melvin's Avatar
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    Default Re: Buying HDB Flat

    Quote Originally Posted by jacob View Post
    i wonder what is the price for a 4room flat in ang mo kio area. anyone know?
    Last month the transcated price is between $237k - $450k, median price is for 3rd quarter 2007 is $280k COV $25k. For the market now of cos will be another % higher!

  15. #35
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    Default Re: Buying HDB Flat

    Quote Originally Posted by melvin View Post
    5yrs cos u got grant!

    GRANT is given to u no need to return back! But if u intend to get a brand new flat from HDB then RESALE LEVY is applicable! How much will depend on what room size u having now!

    2rm resale levy is $15k, 3 rm resale levy is $30k, 4rm $40k, 5rm $45k, exec $50k!
    The funny thing is we receive 30K grant for 1st buyer, but need to pay $45K back if we want to get new flat, the govn really know how to earn money
    Quote Originally Posted by megaweb View Post
    1st timer,
    Resales with grant = New flat


    If you are getting new flat for 2nd time, you need to pay resale levy unless you are getting a Executive Condominium (EC).
    So if don't want to pay Resale Levy, can only choose those expensive ECHS flat
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  16. #36

    Default Re: Buying HDB Flat

    Quote Originally Posted by zcf View Post
    The funny thing is we receive 30K grant for 1st buyer, but need to pay $45K back if we want to get new flat, the govn really know how to earn money
    So taking grant is not a wise choice
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  17. #37
    Senior Member melvin's Avatar
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    Default Re: Buying HDB Flat

    Quote Originally Posted by zcf View Post
    The funny thing is we receive 30K grant for 1st buyer, but need to pay $45K back if we want to get new flat, the govn really know how to earn money

    So if don't want to pay Resale Levy, can only choose those expensive ECHS flat
    Now resale levy is really lower compared to before it is by percentage + snowball interest rate in the u could easily end up paying $75k+ interest (how much depending on No. of years, each yr interest snowballed, frm u sell ur flat till u buy a new one if in between u buy open market oso same last say 15yrs gap int all snowballed which may end up $$$$$$$) for a 5rm flat selling at $300k

    If u wan to so call avoid the Resale levy simple just buy from the open market lor....
    Dun buy new one or wait till they take away resale levy....which is almost impossible lor...

  18. #38
    Senior Member melvin's Avatar
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    Default Re: Buying HDB Flat

    Quote Originally Posted by megaweb View Post
    So taking grant is not a wise choice
    Can la... take it as discount la.... then remember dun buy new direct hdb flat la... or buy private!

  19. #39
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    Default Re: Buying HDB Flat

    DBSS are more expensive right?
    Anyone have any idea if there are any other Build to order coming up?

    So if I'm a first timer buying HDB flat, is it advisable to go for BTO or those "New Unit" but old flat?(I don't know what they call that)
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  20. #40

    Default Re: Buying HDB Flat

    Quote Originally Posted by Paranoia08 View Post
    DBSS are more expensive right?
    Anyone have any idea if there are any other Build to order coming up?

    So if I'm a first timer buying HDB flat, is it advisable to go for BTO or those "New Unit" but old flat?(I don't know what they call that)
    Those are the left over units sold in the bi-monthly sales. These are fast running out even in sengkang area. I am gng to select my flat on monday morning for one of these as I got a good number in the last sengkang ballot.

    The next ballot is for such flats will be for mature estates. The last one attracted 10000+ ppl fighting for 300 flats and I got a lousy queue number of 6500+++. And this time I predict will have 200 flats or less.

    DBSS is extremely overpriced as the developer has to pay a premium for the land in order to outbid their competitors. So their cost is high plus they try to inject a hip factor into what will eventually still be a HDB flat with no condo facilities. Its not even surrounded by walls in its own premises.

    If you can wait 3 to 4 yrs, just try for BTO as that is the cheapest of all avenues to get a flat.
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