can you afford to buy a HDB flat?
can you afford to buy a HDB flat?
Why not... as our govt say as long u don't be choosy you can get a flat. Simply choose 2 room flats in far flung areas like Pioneer road, Punggol etc... sure can afford.
i dont qualify for a new flat and resale prices are on the high side!
i think the gov should consider increasing the qualifying income ceiling of 8k to allow for inflation.
To me the 8K income ceiling is still relevant. HDB housing is generally for low to mid class income.
Yours considered can buy private property already. If cash over valuation is the stumbling block for resale flats, then no choice, must save up.
Last edited by greenieadi; 6th January 2010 at 03:02 AM.
Govt built flats are all affordable by the locals and PRs, as often been told by Minister Mah and echo by Minister Mentor, so we have to take it that we the citizen of Singapore are able to afford the HDB flats.
It's amazingly affordable!
more rightly to be affording one's whole life for an affordable flat...
depends on your meaning of affordability.
u can still afford if u use ~30% of your income every month to pay for 30 years, at least that's wat some people at the top thinks.
Looking at prices now, I can only afford a BTO house. Resale flats are only for those who are desperate and sitting on a pot of gold hence attracting all the greedy owners who are thinking of cashing in. Value and worth means very different things to different people. Don't just listen to people's advise but look into what you need from public housing the most.
For couples thinking of starting a new family, be prepared for the worse. i.e. waiting time of 3-5 years, ridiculous prices at ridiculous areas... etc. Think about your own savings for the future. Making a little money from rental is ok but remember building a family isn't just about putting food on the table. Cheers.
I don't think 8k is relevant anymore looking at today's prices. At 30% payment the couple is left with abt 5.6k to live on. If u add on your bills, insurance etc there is not much for saving. And I hope these 8k couple are not driving cause that will suck away more money. Talking abt the not so gd location and balloting. It is almost like a lottery if u can even get a number that allows u to buy immediately. It is fast become not affordable I feel. Assuming u cross the 8k mark by 1k and for that u buy private, some guys here talk like bank interest very low. We will be slavering away just for the house. There is no lifestyle to talk abt. I don't how much u guys earn but to buy a resale now at high prices I think u better be hitting at least 15k a month or got rich parents to support else u can forget abt any kind of hobbies etc. Everyone wants to have a dream house with dream design etc but te gahment is saying we must compromise. I agree some ppl wants to live beyond their means but most I see their request are not unreasonable. Some of my pals cross by 1k only and cannot get the Hdb loan etc but they still insist to buy resale because for the money they have to buy private it will strain them badly and Hdb is still cheap comparatively.
From 1997 to 2005, the resale market is saturated with would be sellers and where dominant buyers dictated the terms and conditions instead, in fact it is not difficult to close your eyes and choose a apartment which would probably sells below evaluation.
The times of desperation had pass and gone, now the resale market is a seller paradise.
Sony a330 | 18-250 f/3.5-6.3 | 50 f/1.8 | M 28-80 f/4-5.6 | M 80-200 f/4.5-5.6
The more relevant question is ....
Can you afford NOT to buy !
Can buy, but you got to pay back through your nose for all the loans, etc.
its hard. but. still got to buy. no roof over our head? hm...