random_username 0 Report post Posted October 19, 2010 GE no annoucement la, its a joke. oh, hahaha, i feel so *doh* now My shortfall for CPF is not massive, less than 5k and I was prepared to make up the diff in cash already. Life is funny sometimes, the fiancee is low maintainence never splurge on branded bags, ask me buy car, etc. But come to house.... to me its still not that bad cos I think you really gotta find a place you like, save some money get something you don't really fancy and going to be unhappy for 5 years straight its no joke. Are you and Warrior88 referring to the same thing re: usage of CPF for the mortgage/flat purchase? Seems like one refers to the payment of mortgage instalments and the other refers to the the upfront cpf payment, or do they work out to be the same thing? Share this post Link to post Share on other sites
aegis0129 2 Report post Posted October 19, 2010 oh, hahaha, i feel so *doh* now Are you and Warrior88 referring to the same thing re: usage of CPF for the mortgage/flat purchase? Seems like one refers to the payment of mortgage instalments and the other refers to the the upfront cpf payment, or do they work out to be the same thing? Haha if GE dates out sure big news, got many hypotheses out there on when it's gonna be. I think unlikely to be this year considering still got a lot of hot issues like immigration and housing plus we got chance of technical recession. No we're both referring to the downpayment of 15% by CPF. The monthly installments is of course another consideration, one cannot possibly go out and buy a house now thinking interest rates are low because eventually they will go up and you must make sure you can handle it when it gets there.... Either you have a huge stash of spare cash or make sure you're buying something that a single income can handle comfortably. Deep now inside I think it is a blessing in disguise that something happened to us before we committed to buying a house, initially she said I was overly pessimistic in my financial planning but now I guess she is more receptive to what I'm telling her in not overstretching ourselves. Share this post Link to post Share on other sites
random_username 0 Report post Posted October 19, 2010 (edited) Haha if GE dates out sure big news, got many hypotheses out there on when it's gonna be. I think unlikely to be this year considering still got a lot of hot issues like immigration and housing plus we got chance of technical recession. No we're both referring to the downpayment of 15% by CPF. The monthly installments is of course another consideration, one cannot possibly go out and buy a house now thinking interest rates are low because eventually they will go up and you must make sure you can handle it when it gets there.... Either you have a huge stash of spare cash or make sure you're buying something that a single income can handle comfortably. Deep now inside I think it is a blessing in disguise that something happened to us before we committed to buying a house, initially she said I was overly pessimistic in my financial planning but now I guess she is more receptive to what I'm telling her in not overstretching ourselves. ah hah, the single-income financial planning "guideline" - something near and dear to my heart - agree, we plan with buffers in place too. i'm curious - what industry and role/seniority level was your fiancee in from which she was made redundant? Edited October 19, 2010 by random_username Share this post Link to post Share on other sites
aegis0129 2 Report post Posted October 19, 2010 ah hah, the single-income financial planning "guideline" - something near and dear to my heart - agree, we plan with buffers in place too. i'm curious - what industry and role/seniority level was your fiancee in from which she was made redundant? not supposed to talk about it but i'll give you a hint, it was reported in cna yesterday. Share this post Link to post Share on other sites
acidjc 0 Report post Posted November 8, 2010 we are buying a resale HDB flat and selling our current HDB which we brought directly from HDB 7 yr ago. our total monthly income does not exceed $8K, so are we still eligiable for the CPF housing grant for family? anyone can advice? tks Share this post Link to post Share on other sites
therat 18 Report post Posted November 8, 2010 we are buying a resale HDB flat and selling our current HDB which we brought directly from HDB 7 yr ago. our total monthly income does not exceed $8K, so are we still eligiable for the CPF housing grant for family? anyone can advice? tks U still eligible for the 2nd CPF housing grant. Just pay the resale levy. Share this post Link to post Share on other sites
acidjc 0 Report post Posted November 8, 2010 U still eligible for the 2nd CPF housing grant. Just pay the resale levy. correct me if I am wrong, my understand from the resale levy is for buying 2nd flat from HDB directly, if I buy from open market. do I still have to pay resales levy? Share this post Link to post Share on other sites
chronograph 0 Report post Posted November 8, 2010 If u buy from open market, and taking bank loan, no levy imposed. If u buy from direct HDB or open market with HDB bank loan, must pay levy. correct me if I am wrong, my understand from the resale levy is for buying 2nd flat from HDB directly, if I buy from open market. do I still have to pay resales levy? Share this post Link to post Share on other sites
therat 18 Report post Posted November 8, 2010 correct me if I am wrong, my understand from the resale levy is for buying 2nd flat from HDB directly, if I buy from open market. do I still have to pay resales levy? ur 1st HDB is direct from HDB. 1st subsidy now you want to buy a resale HDB and take grant. That's 2nd subsidy. 2nd subsidy HDB need to pay resale levy. http://www.hdb.gov.sg/fi10/fi10322p.nsf/w/...vy?OpenDocument Resale Levy A second-timer purchaser refers to a Singapore citizen household that has previously enjoyed the first housing subsidy when they bought a: o New flat from HDB, or o Resale flat with housing grant A flat is considered subsidised, if you have bought it: o Directly from HDB, or o From the open market with a CPF Housing Grant Amount Payable under the Revised Resale Levy Policy The amount of resale levy is graded according to the flat type of the flat owners' first subsidised flat. Under the revised policy, flat owners whose first subsidised flat is a 2-room flat will pay a resale levy of $15,000. Those whose first subsidised flat is a 3-room, 4-room, 5-room and Executive flat will pay a resale levy of $30,000, $40,000, $45,000 and $50,000 respectively when they purchase a second subsidised flat. First Subsidised Flat Type Amount of Resale Levy Payable under the Revised Policy (From 3 Mar 2006*) 2-room $15,000 3-room $30,000 4-room $40,000 5-room $45,000 Executive Flat $50,000 Share this post Link to post Share on other sites
therat 18 Report post Posted November 8, 2010 If u buy from open market, and taking bank loan, no levy imposed. If u buy from direct HDB or open market with HDB bank loan, must pay levy. Hmm.. I don't think take HDB bank loan need to pay levy. I can't find any statement mention in HDB web. Share this post Link to post Share on other sites
chronograph 0 Report post Posted November 8, 2010 Hmm.. I don't think take HDB bank loan need to pay levy. I can't find any statement mention in HDB web. U r right, i'm mis inform. Share this post Link to post Share on other sites
friends78 0 Report post Posted November 9, 2010 ur 1st HDB is direct from HDB. 1st subsidy now you want to buy a resale HDB and take grant. That's 2nd subsidy. 2nd subsidy HDB need to pay resale levy. http://www.hdb.gov.sg/fi10/fi10322p.nsf/w/...vy?OpenDocument Resale Levy I am currently waiting for my first appt for the purchase of resale flat. Have called HDB, the case officer said CPF housing grant is only for first timers. Even thou the unit I bought is just next to my parents, I am not eligible for any grant. I bought my first flat direct from HDB five years back. The so called 2nd subsidy is for new flat purchase directly from HDB. Share this post Link to post Share on other sites
therat 18 Report post Posted November 9, 2010 I am currently waiting for my first appt for the purchase of resale flat. Have called HDB, the case officer said CPF housing grant is only for first timers. Even thou the unit I bought is just next to my parents, I am not eligible for any grant. I bought my first flat direct from HDB five years back. The so called 2nd subsidy is for new flat purchase directly from HDB. Hmm.. U are right on this. I read the CPF housing grant on HDB web http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...nt?OpenDocument It really state "First-timer applicants" It's totally different from what I had remember. Rules change again? http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...ly?OpenDocument When buying an HDB resale flat, you may be eligible for a CPF Housing Grant if you and your spouse: - Are buying a HDB flat for the first time, and - Have not previously enjoyed a housing subsidy but but.. if only for 1st timer. Then how come got resale levy. I kong kong liao.. Share this post Link to post Share on other sites
marshmallow 0 Report post Posted November 15, 2010 I am currently waiting for my first appt for the purchase of resale flat. Have called HDB, the case officer said CPF housing grant is only for first timers. Even thou the unit I bought is just next to my parents, I am not eligible for any grant. I bought my first flat direct from HDB five years back. The so called 2nd subsidy is for new flat purchase directly from HDB. Hmm.. U are right on this. I read the CPF housing grant on HDB web http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...nt?OpenDocument It really state "First-timer applicants" It's totally different from what I had remember. Rules change again? http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/...ly?OpenDocument When buying an HDB resale flat, you may be eligible for a CPF Housing Grant if you and your spouse: - Are buying a HDB flat for the first time, and - Have not previously enjoyed a housing subsidy but but.. if only for 1st timer. Then how come got resale levy. I kong kong liao.. i think the resale levy is: 1st time: took CPF grant 2nd time: buy direct from HDB like what friends78 mentioned above Share this post Link to post Share on other sites
