Owner Of Condominium, Not Eligible For Bto

[Yaling 0]

I need help!!!

Currently, I own a condominium under my dad and my name.

My fiance and I, we are planning to get a BTO. And found out

that we are not eligible. Hence, we are thinking to get a resale

flat. However, I have few questions.

1. Is there any income ceiling in order to get a resale flat?

As we are planning to get 3 rooms flat near his parents'

flat.

2. Are we consider first timer? Is there any advantages in

buying the resale flat consider that we are first timer?

3. For BTO, we need to produce the ROM Cerf 3 months before

hand over the keys. How about resale unit?

Please kindly help us!!!

Cheers

Yaling

[therat 18]

1. No income ceiling. But no grant , no HDB loan. Only can take bank loan.

2. No. As you are private property owner. U are not consider 1st timer.

3. Same. Need to produce ROM Cerf during 1st appointment.

U better call HDB and ask before move to next time.

You are not 1st timer but ur fiance might consider 1st timer (If he never bought a HDB / private property)

[jeda 0]

I need help!!!

Currently, I own a condominium under my dad and my name.

My fiance and I, we are planning to get a BTO. And found out

that we are not eligible. Hence, we are thinking to get a resale

flat. However, I have few questions.

1. Is there any income ceiling in order to get a resale flat?

As we are planning to get 3 rooms flat near his parents'

flat.

2. Are we consider first timer? Is there any advantages in

buying the resale flat consider that we are first timer?

3. For BTO, we need to produce the ROM Cerf 3 months before

hand over the keys. How about resale unit?

Please kindly help us!!!

Cheers

Yaling

To add on:-

1. For resale flat - No income ceiling if you are not getting grant (with grant, ceiling is $8k). Not eligible for grant UNLESS you take your name out of the condo (take name out meaning your dad have to return your cpf money including accrued interest to your cpf account if you used to use your cpf to finance the condo - have to write to HDB for waiver exemption of 30mths waiting period. With the exemption granted, then you can take HDB loan and CPF housing grant for resale flat only and not BTO - you will then be eligible for BTO, but if income ceiling exceed $5k, not eligible for HDB loan). Only can take bank loan if you are still owning private property and intend to buy resale.

2. No. As you are private property owner. U are not consider 1st timer. UNLESS you take out your name from private property. By right there is a waiting period of 30mths from disposal of shares in private property, but you can write in for waiver of this waiting time cos you did not own 100% of the private property but must undertake to dispose within 6mths of waiver grant - application fees for waiver applies.

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...ty?OpenDocument

[Yaling 0]

Dear All, thank you so much for your reply on my previous post.

I called the HDB for inquiry. It is same information as what you have

been shared.

My parents are considering to buy a property as a wedding gift for us.

Any idea how is the current market like? Should I go for the condo or

resale HDB?

My fiance and I, we are not planning to have many children in future.

So a cosy one will do.

TIA for your information.

[silverfins 0]

Dear All, thank you so much for your reply on my previous post.

I called the HDB for inquiry. It is same information as what you have

been shared.

My parents are considering to buy a property as a wedding gift for us.

Any idea how is the current market like? Should I go for the condo or

resale HDB?

My fiance and I, we are not planning to have many children in future.

So a cosy one will do.

TIA for your information.

I think it really depends on your preference on:

1) Facilities eg. do you like to have facilities like swimming pool, gym

2) Location eg. HDB estates are generally more crowded whereas going private possibly gives you the option to choose a queiter estate. Also, if you don't drive, public transport might be a concern.

Ceteris paribus, I would go for HDB first, then buy a couple private properties later on.

[tatayniuring 0]

Dear All, thank you so much for your reply on my previous post.

I called the HDB for inquiry. It is same information as what you have

been shared.

My parents are considering to buy a property as a wedding gift for us.

Any idea how is the current market like? Should I go for the condo or

resale HDB?

My fiance and I, we are not planning to have many children in future.

So a cosy one will do.

TIA for your information.

How much is the budget of your parents? If it is on the high side like 2M... there is no need to think... choose condo..

If is just around 800K then choose HDB in good/matured states which worth around that price and just buy a condo later on using your own money if you like...

[Yaling 0]

How much is the budget of your parents? If it is on the high side like 2M... there is no need to think... choose condo..

If is just around 800K then choose HDB in good/matured states which worth around that price and just buy a condo later on using your own money if you like...

Dear Tata

Our budget is definitely lower than 2m. So according to your opinion, we should op for HDB in mature estate?

I am really confused. Cos recently I have a friend who own a property in overseas with her parents and

apply BTO with her SO.

HDB actually grant her for the queue number and going to choose for her flat in punggol. But she said needs

to ask the lawyer to do evaluation of the property. I am not sure if I can do the same as her anot.

Is her case same as mine? But my property is in Sgp...

[bepgof 20]

Dear Tata

Our budget is definitely lower than 2m. So according to your opinion, we should op for HDB in mature estate?

I am really confused. Cos recently I have a friend who own a property in overseas with her parents and

apply BTO with her SO.

HDB actually grant her for the queue number and going to choose for her flat in punggol. But she said needs

to ask the lawyer to do evaluation of the property. I am not sure if I can do the same as her anot.

Is her case same as mine? But my property is in Sgp...

Wise to remove your name from existing condo, if plan to get a resale hdb, private or new private in the coming.

1. Yr dad abt budget since $ from him.

2. Comparatively, condo is good for security & facilities (esp for children), but higher daily/monthly expenses.

3. Good to have a resale hdb, stay 5 yr, meanwhile save $, then but pte and rent out hdb.

4. If now stay condo, only advantage is to wait for appreciation then sell away, but stay need a home to stay right?

5. Most Singaporeans are getting smarter - try to get a hdb and a pte, rent out one & stay at the other. This should be your strategy for future!.

6. Bananas, monkeys & the farmer story, heard before? Monkeys were originally fed with 3 bananas in morning and 4 in the evening. Then come one "smart" monkey, psycho the rest to change to 4 bananas in morning and 3 bananas in evening, ended up hungry and angry in mid night and could not sleep well. Bitter first then sweet, better than sweet turn bitter and sour later on.

Edited September 3, 2010 by bepgof

[tweety3334 0]

Wise to remove your name from existing condo, if plan to get a resale hdb, private or new private in the coming.

1. Yr dad abt budget since $ from him.

2. Comparatively, condo is good for security & facilities (esp for children), but higher daily/monthly expenses.

3. Good to have a resale hdb, stay 5 yr, meanwhile save $, then but pte and rent out hdb.

4. If now stay condo, only advantage is to wait for appreciation then sell away, but stay need a home to stay right?

5. Most Singaporeans are getting smarter - try to get a hdb and a pte, rent out one & stay at the other. This should be your strategy for future!.

6. Bananas, monkeys & the farmer story, heard before? Monkeys were originally fed with 3 bananas in morning and 4 in the evening. Then come one "smart" monkey, psycho the rest to change to 4 bananas in morning and 3 bananas in evening, ended up hungry and angry in mid night and could not sleep well. Bitter first then sweet, better than sweet turn bitter and sour later on.

Agree. You need to find out the budget before you can decide what you can do. If can, stay in HDB for 5 years and then move to a condo. If you buy condo now, you cannot buy HDB in future.

[nitrodrops 0]

To add on:-

2. No. As you are private property owner. U are not consider 1st timer. UNLESS you take out your name from private property. By right there is a waiting period of 30mths from disposal of shares in private property, but you can write in for waiver of this waiting time cos you did not own 100% of the private property but must undertake to dispose within 6mths of waiver grant - application fees for waiver applies.

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...ty?OpenDocument

Hi Jeda,

What happens if i and my partner share the private properties? each person owns a 50% stake. Does it means we still own 100% of the private property?

We are stuck in the rule, as we are working overeseas, now planning to return to SG, and realised all the HDB rules are against us.

Cheers

Nit

[Jgal 0]

anyway..you can only buy resale / bto hdb, if you are willing to give up on your current condo.

Got $$ to settle full , then just remove your name from the current condo.

No enuff or parent dun eligible for bank loan if your name is taken out. then you will need to give up on hdb.

Yes, since you/your family can afford to buy condo.. PLEASE dun steal others of their chance of having their dream home.

Aniway, if you sell your condo.. you will be making enuff $$ for a new condo.