Re-sale Vs Buying From Hdb

[Sheila Ong 0]

Are you getting yr first HDB flat ? if yes, better take new flats..Juron East & West should not be a problem

erm.. if u read my previous posts u'll know that i didn't manage or dun tink i'll be able to get one through this recent balloting for sector A. left only 20 plus units n my appt is next thurs. by this week shud be all sold out le n i dun wish to wait for the next one which is going to be in OCT (still gt SO long) n i tink the chances of getting is slim.. SO many ppl balloting u know..

[happywheel 0]

Which area you looking at and what size of flat?

Now i think market has gone down...

Like me..the unit i was aiming for..was selling at 95k COV..siao..slowly it dropped from 95k to 50k. I offered 30k my last offer. Owner took 3 days to consider before selling it to me.30k still steep for me though.Ate up all my reno budget.

My cousin bought a 4 rm flat at AMK at valuation and another bought a 5rm at tamp at valuation 2. I think 0 or low cov can be achieved.

Hi may i know which area you bought your flat

Mine is 30k but only reduce 3k to 27k.....west side near MRT...just 3-5mins

[quoo 0]

erm.. if u read my previous posts u'll know that i didn't manage or dun tink i'll be able to get one through this recent balloting for sector A. left only 20 plus units n my appt is next thurs. by this week shud be all sold out le n i dun wish to wait for the next one which is going to be in OCT (still gt SO long) n i tink the chances of getting is slim.. SO many ppl balloting u know..

I read ur prev post..but err..ur previous post only mention u didnt mange to get a single unit through ballot, nvr say are u first timer..if you are first timer, and u get consider resale flat as there is a 30-40K grant

[Cherry 0]

Nowadays seems like not easy for 1st timers to get their flat. My cousin also faced with the same problem. I remember last time, as long as we put our names in queue, when the time comes, it'll be our turn to select a flat.

Anyway, just remember to factor in 1) COV 2) Agent comms @ 1% (these are the big items), as you're a 1st timer, you're eligible for both the grant + HDB loan, so you can still use your CPF for the downpayment and stamp fees.

HTHs

[Sheila Ong 0]

Nowadays seems like not easy for 1st timers to get their flat. My cousin also faced with the same problem. I remember last time, as long as we put our names in queue, when the time comes, it'll be our turn to select a flat.

Anyway, just remember to factor in 1) COV 2) Agent comms @ 1% (these are the big items), as you're a 1st timer, you're eligible for both the grant + HDB loan, so you can still use your CPF for the downpayment and stamp fees.

HTHs

thanks Cherry

i guess i've to wait for the next Balloting exercise in Oct le.. must pray even harder haha..

[keltong 4]

Just my 2 cents.

If you are 1st timer, just not to get a resale flat with grant. There are many hidden disadvantages of taking HDB grant and most people will regret few years down the road. If you need to buy your 1st resale flat, try to get a small flat (since only 2 of you) and don't get grant. Stay there for a few years than try your luck at any BTO again (since you already have a place to stay can take your time).

If you can still wait (now), try your luck at BTO again and hope you get a better queue number.

Here is just a few reason why I do not encourage young couples to buy resale flat with grant (esp for their 1st flat).

1. At today's market, resale flat is at the high side, so even though with the grant it seems you are paying a lower value, say 5 years down the road when you want to sell it, you will still result in negative sale (unless the market boom even greater than now) and left with no cash from your sales. Can't go into details as too much to say.

2. With resale flat (with or without grant) you will face with CPF withdrawal limit issue somewhere down the line. With new direct flat from HDB you will not.

3. With new flat, because the price is below market value, when you sell the flat down the road, you are more likely (not in every case) to have cash return.

4. New flat, can do to your liking, certain part done up. So can save on reno. Resale flat, if can find one that is to your liking, can save even more else will be a lot more money to reno. Even if it is to your liking, you can't tell the condition unlike you really live in. Usually it seems very nice when visiting but when live in, you will start to discover faults.

5. With resale flat, expect a lot more cash, cash for COV, cash for downpayment, cash for agent.

Main thing, do you homework, study HDB and CPF rulings properly. And if intend to get resale, when you check out the house, don't feel paisei to scrutinized every part (you are going pay lots of $$$ for it!). Most people feel paisei so 'aga aga' (roughly) check out only, especially first timer, and don't see the details.

Hope my long-winded post didn't confuse you further

[raincole 0]

If got time, can wait, can always try for new HDB flat. But then, the location is not something which you can choose.

For resale, sometimes with the resale grant, it does help so must really do your homework and calculation well. Grant also applies to the 8k income ceiling.

[JCase 0]

Just my 2 cents.

If you are 1st timer, just not to get a resale flat with grant. There are many hidden disadvantages of taking HDB grant and most people will regret few years down the road. If you need to buy your 1st resale flat, try to get a small flat (since only 2 of you) and don't get grant. Stay there for a few years than try your luck at any BTO again (since you already have a place to stay can take your time).

If you can still wait (now), try your luck at BTO again and hope you get a better queue number.

Here is just a few reason why I do not encourage young couples to buy resale flat with grant (esp for their 1st flat).

1. At today's market, resale flat is at the high side, so even though with the grant it seems you are paying a lower value, say 5 years down the road when you want to sell it, you will still result in negative sale (unless the market boom even greater than now) and left with no cash from your sales. Can't go into details as too much to say.

2. With resale flat (with or without grant) you will face with CPF withdrawal limit issue somewhere down the line. With new direct flat from HDB you will not.

3. With new flat, because the price is below market value, when you sell the flat down the road, you are more likely (not in every case) to have cash return.

4. New flat, can do to your liking, certain part done up. So can save on reno. Resale flat, if can find one that is to your liking, can save even more else will be a lot more money to reno. Even if it is to your liking, you can't tell the condition unlike you really live in. Usually it seems very nice when visiting but when live in, you will start to discover faults.

5. With resale flat, expect a lot more cash, cash for COV, cash for downpayment, cash for agent.

Main thing, do you homework, study HDB and CPF rulings properly. And if intend to get resale, when you check out the house, don't feel paisei to scrutinized every part (you are going pay lots of $$$ for it!). Most people feel paisei so 'aga aga' (roughly) check out only, especially first timer, and don't see the details.

Hope my long-winded post didn't confuse you further

Spot on and sound advise. Our first falt at Sin Ming Ave was re-sale but we didn't take grant. When a walk-in unit at AMK (brand new unit, altho blk already abt 5yr + old), we were able to off load first falt quickly as our obligation to stay was only 2.5 yrs.

Lost abt 10K on the 1st flat but nebbermind. Bought AMK 5RM for 317K (inc legal+stamp duty). Current mkt value now abt 450K.

The grant will lock you in for 5 yrs and you will not be able to seize an opportunity of one became available.

[Sheila Ong 0]

Just my 2 cents.

If you are 1st timer, just not to get a resale flat with grant. There are many hidden disadvantages of taking HDB grant and most people will regret few years down the road. If you need to buy your 1st resale flat, try to get a small flat (since only 2 of you) and don't get grant. Stay there for a few years than try your luck at any BTO again (since you already have a place to stay can take your time).

If you can still wait (now), try your luck at BTO again and hope you get a better queue number.

Here is just a few reason why I do not encourage young couples to buy resale flat with grant (esp for their 1st flat).

1. At today's market, resale flat is at the high side, so even though with the grant it seems you are paying a lower value, say 5 years down the road when you want to sell it, you will still result in negative sale (unless the market boom even greater than now) and left with no cash from your sales. Can't go into details as too much to say.

2. With resale flat (with or without grant) you will face with CPF withdrawal limit issue somewhere down the line. With new direct flat from HDB you will not.

3. With new flat, because the price is below market value, when you sell the flat down the road, you are more likely (not in every case) to have cash return.

4. New flat, can do to your liking, certain part done up. So can save on reno. Resale flat, if can find one that is to your liking, can save even more else will be a lot more money to reno. Even if it is to your liking, you can't tell the condition unlike you really live in. Usually it seems very nice when visiting but when live in, you will start to discover faults.

5. With resale flat, expect a lot more cash, cash for COV, cash for downpayment, cash for agent.

Main thing, do you homework, study HDB and CPF rulings properly. And if intend to get resale, when you check out the house, don't feel paisei to scrutinized every part (you are going pay lots of $$$ for it!). Most people feel paisei so 'aga aga' (roughly) check out only, especially first timer, and don't see the details.

Hope my long-winded post didn't confuse you further

Thanks so much for ur detailed advice keltong.. sorry long time nv check this thread.. since everyone (mostly) is discouraging me from getting a resale now, guess i'll wait for the Oct balloting.. must pray hard hard n save more more more $$$ hee

If got time, can wait, can always try for new HDB flat. But then, the location is not something which you can choose.

For resale, sometimes with the resale grant, it does help so must really do your homework and calculation well. Grant also applies to the 8k income ceiling.

since like dun have choice now n after hearing so many advices, guess i'll wait until the Oct balloting results is out den decide.. hopefullly can get a gd queue number n solve all my problems..

oh ya anyone knows when's the next Balloting Exercise after the coming Oct one?

Spot on and sound advise. Our first falt at Sin Ming Ave was re-sale but we didn't take grant. When a walk-in unit at AMK (brand new unit, altho blk already abt 5yr + old), we were able to off load first falt quickly as our obligation to stay was only 2.5 yrs.

Lost abt 10K on the 1st flat but nebbermind. Bought AMK 5RM for 317K (inc legal+stamp duty). Current mkt value now abt 450K.

The grant will lock you in for 5 yrs and you will not be able to seize an opportunity of one became available.

wa lucky u

[JCase 0]

Thanks so much for ur detailed advice keltong.. sorry long time nv check this thread.. since everyone (mostly) is discouraging me from getting a resale now, guess i'll wait for the Oct balloting.. must pray hard hard n save more more more $$$ hee

since like dun have choice now n after hearing so many advices, guess i'll wait until the Oct balloting results is out den decide.. hopefullly can get a gd queue number n solve all my problems..

oh ya anyone knows when's the next Balloting Exercise after the coming Oct one?

wa lucky u

Can't complain. Was very, very lucky with the flat. Nice area, only 4 blks in our so called area. Just saw some of the recent transacted prices of EA at Bishan and AMK

Guess we will stay put for the next 5-7 yrs. Not paying 5% cash for re-sale + COV + agent comm. No way. Rather I take a reno loan of 30K and re-do the place

[keltong 4]

Thanks so much for ur detailed advice keltong.. sorry long time nv check this thread.. since everyone (mostly) is discouraging me from getting a resale now, guess i'll wait for the Oct balloting.. must pray hard hard n save more more more $$$ hee

Important is buy within your means. And if possible, try not to dump every last dollar of your monthly CPF contribution into repayment of housing loan. Save for a rainy day....and it's raining quite heavily now (literally at my workplace).

Spot on and sound advise. Our first falt at Sin Ming Ave was re-sale but we didn't take grant. When a walk-in unit at AMK (brand new unit, altho blk already abt 5yr + old), we were able to off load first falt quickly as our obligation to stay was only 2.5 yrs.

Lost abt 10K on the 1st flat but nebbermind. Bought AMK 5RM for 317K (inc legal+stamp duty). Current mkt value now abt 450K.

The grant will lock you in for 5 yrs and you will not be able to seize an opportunity of one became available.

Cool, how I wish 10 years ago someone tell me this. I have to learn the hard way, and now I am against grant (ok against it in most situation and not all situation). Haha...maybe I should start a campaign against it or something

[666 0]

Hi may i know which area you bought your flat

Mine is 30k but only reduce 3k to 27k.....west side near MRT...just 3-5mins

Mine at tamp, although at tamp..my place nearer to Simei mrt..about 5-7mins walk..