forgotten 1 Report post Posted December 1, 2009 (edited) Ok long story... Yes this is our first house. We have booked an BTO unit. It's ready in 3 years time, so we must die die sell off this resale unit in 3 years time. If I take up the HDB loan or grant, we'll be locked down by the MOP of 5 years. We intend to paint the walls, buy furniture, then move in haha. Poor people like us don't have much option. Edited December 1, 2009 by forgotten Share this post Link to post Share on other sites
forgotten 1 Report post Posted December 1, 2009 Berry, How much COV did u pay for your unit? Share this post Link to post Share on other sites
berry_surprise 0 Report post Posted December 1, 2009 (edited) Berry, How much COV did u pay for your unit? oic, so u cannot tahan until u get ur BTO so buy a resale in the open market. Then u can sell off in 3yrs time. is it most cost-effective this way? i paid 18k the highest COV i got was 35k for 2nd floor in BBatok and my dad's next door neighbor is going off at 50k cov and the place already been vacant 3wks ago (located at Bt merah). yes, i agree with you. poor ppl like us got not much option. since u selling off in 3yrs, dont bother to do reno la. rent out the rooms to help pay ur mortgage n pub bill. Edited December 1, 2009 by berry_surprise Share this post Link to post Share on other sites
nesh 0 Report post Posted December 1, 2009 when i applied for hle, they only consider 1 person contribution because must have at least 3mth of payslips from the company. so only consider 1 person income and was granted with 351k and when our purchased flat is less than this amount, at first i thought i can still take the remaining as a loan. I was too hopeful can your parents help u with ur flat? i guess ur pay shd be high.... my pay is not that high...i doubt they wld give 350 k as loan... no chance at all... most probably they wld give abt 190 k as loan +mcps grant of 40k shd be able to get me a unit... dad i am not sure he wld help.. doubts over there.... he is living on his cpf retirement as his lone survival. wld be unfair for me to ask... so no choice must save till feb ... then start looking for a unit... Share this post Link to post Share on other sites
forgotten 1 Report post Posted December 1, 2009 (edited) oic, so u cannot tahan until u get ur BTO so buy a resale in the open market. Then u can sell off in 3yrs time. is it most cost-effective this way? i paid 18k the highest COV i got was 35k for 2nd floor in BBatok and my dad's next door neighbor is going off at 50k cov and the place already been vacant 3wks ago (located at Bt merah). yes, i agree with you. poor ppl like us got not much option. since u selling off in 3yrs, dont bother to do reno la. rent out the rooms to help pay ur mortgage n pub bill. A ground floor unit beside my block is asking for 40K COV in its ad this month. Another two units upstairs in my block are asking 30K and 40K COV in their ads this month. Yah agree with u, no point to renov for my case. Edited December 1, 2009 by forgotten Share this post Link to post Share on other sites
berry_surprise 0 Report post Posted December 1, 2009 i guess ur pay shd be high.... my pay is not that high...i doubt they wld give 350 k as loan... no chance at all... most probably they wld give abt 190 k as loan +mcps grant of 40k shd be able to get me a unit... dad i am not sure he wld help.. doubts over there.... he is living on his cpf retirement as his lone survival. wld be unfair for me to ask... so no choice must save till feb ... then start looking for a unit... with ur hle loan, the chances of getting a unit is pretty high. the hurdle is cov. must come up with cash. if u can tough it out for another few mths and with ur new pay, u can buy a bigger flat. all the best, u r going to be a papa soon Share this post Link to post Share on other sites
nesh 0 Report post Posted December 1, 2009 Ok long story... Yes this is our first house. We have booked an BTO unit. It's ready in 3 years time, so we must die die sell off this resale unit in 3 years time. If I take up the HDB loan or grant, we'll be locked down by the MOP of 5 years. We intend to paint the walls, buy furniture, then move in haha. Poor people like us don't have much option. true.... no choice.once i get my unit.i don't intend to do Reno.wld do it when i have the cash.no bank loan for renovation.i don't like taking loan ...then in the end ...debt to follow... every mth will buy something for home... when i get unit just paint by myself... get a normal furniture... buy a fridge.. buy a bed first... thats all... TV will follow the following mth...then washing machine the next mth... then sofa ... continues... poor man like me.. musty really work hard for everything.. Share this post Link to post Share on other sites
forgotten 1 Report post Posted December 1, 2009 (edited) true.... no choice.once i get my unit.i don't intend to do Reno.wld do it when i have the cash.no bank loan for renovation.i don't like taking loan ...then in the end ...debt to follow... every mth will buy something for home... when i get unit just paint by myself... get a normal furniture... buy a fridge.. buy a bed first... thats all... TV will follow the following mth...then washing machine the next mth... then sofa ... continues... poor man like me.. musty really work hard for everything.. For furniture, u can try to get 2nd hand ones. I may get 2nd hand ones online to save $. We didn't ask parents for a single cent and we give them monthly allowances. Same as u, we think they need $$ for their own retirements. Though my hb & I love kids, we are putting our baby plan on hold due to financial issue. Edited December 1, 2009 by forgotten Share this post Link to post Share on other sites
nesh 0 Report post Posted December 1, 2009 with ur hle loan, the chances of getting a unit is pretty high. the hurdle is cov. must come up with cash. if u can tough it out for another few mths and with ur new pay, u can buy a bigger flat. all the best, u r going to be a papa soon yeah true must tough it out for the next few mths... what i suffer ... shd be within me... not reach out to my wife or my coming baby... thats why i am working it out for a unit asap... at least let the newborn gets his freedom of life .... Share this post Link to post Share on other sites
berry_surprise 0 Report post Posted December 1, 2009 For furniture, u can try to get 2nd hand ones. I may get 2nd hand ones online to save $. We didn't ask parents for a single cent and we give them monthly allowances. Same as u, we think they need $$ for their own retirements. Though my hb & I love kids, we are putting our baby plan on hold due to financial issue. my dad is a very stick-in-the-mud person, he doesnt believe in cov. because he still live in his time. he told me when he sell his 2nd flat, nobody even want to put a $50 to OTP. and ask for 1k COV, nobody even bother. Share this post Link to post Share on other sites
wilso17 0 Report post Posted December 1, 2009 There goes my $10 again.. 3rd times this year... Queue no 500+ for 77units Sigh.. This is a big setback for 1st timer, as a married couple somemore. After listening to nesh's story... "..there was this couple from India. hubby just got his Singapore citizen just a month ago before the last april sales. wife is a Singapore PR... they applied for a flat for the first time... the result was they manage to get a wonderful queue no and got themselves a flat. i was totally disgusted by this... the hubby works in my company... i went to hdb... banged the table ...demanded an answer from them. a foreigner who just jumped into Singapore 3 yrs back...,got himself a Singapore PR immediately then becoming a Singapore citizen in just 3 yrs .. then got himself a good queue no and a flat... is this fair ?.." I seriously think there is a need to vote with much consideration in next election. Share this post Link to post Share on other sites
nesh 0 Report post Posted December 1, 2009 For furniture, u can try to get 2nd hand ones. I may get 2nd hand ones online to save $. We didn't ask parents for a single cent and we give them monthly allowances. Same as u, we think they need $$ for their own retirements. Though my hb & I love kids, we are putting our baby plan on hold due to financial issue. actually my baby plan was put on hold ..as i wanted to get a unit then later have a child.. but as age catches up... we decided that its time we shd have 1 as we feel we need a meaning to our lives... so there comes my baby in a few mths time... Share this post Link to post Share on other sites
forgotten 1 Report post Posted December 1, 2009 actually my baby plan was put on hold ..as i wanted to get a unit then later have a child.. but as age catches up... we decided that its time we shd have 1 as we feel we need a meaning to our lives... so there comes my baby in a few mths time... Congrats on being a daddy! Share this post Link to post Share on other sites
nesh 0 Report post Posted December 1, 2009 Congrats on being a daddy! yea thanks... haha browsing thru websites for units. mostly all over 300k ... 4 room only so expensive... Share this post Link to post Share on other sites
Mr.Black 0 Report post Posted December 1, 2009 There goes my $10 again.. 3rd times this year... Queue no 500+ for 77units Sigh.. This is a big setback for 1st timer, as a married couple somemore. After listening to nesh's story... "..there was this couple from India. hubby just got his Singapore citizen just a month ago before the last april sales. wife is a Singapore PR... they applied for a flat for the first time... the result was they manage to get a wonderful queue no and got themselves a flat. i was totally disgusted by this... the hubby works in my company... i went to hdb... banged the table ...demanded an answer from them. a foreigner who just jumped into Singapore 3 yrs back...,got himself a Singapore PR immediately then becoming a Singapore citizen in just 3 yrs .. then got himself a good queue no and a flat... is this fair ?.." I seriously think there is a need to vote with much consideration in next election. Not FAIR! :curse: But we live in Singapore we no SAY! Share this post Link to post Share on other sites
