therat 18 Report post Posted April 27, 2011 thanks for the clarification.... I should be safe, should be able to repay loan in 4 years time.... if nothing goes wrong. Keeping my finger cross.Good for you. Share this post Link to post Share on other sites
bepgof 20 Report post Posted April 27, 2011 (edited) BTO price is slightly below resale presently. To prepare for my children's afordability of HDB flats, I prepared 2 tables. One based on yearly price increment of 5%yoy, another is 10% yoy. If resale price increase between 5-10% in the coming years, be "standby": Edited April 27, 2011 by bepgof Share this post Link to post Share on other sites
csingeu 0 Report post Posted April 27, 2011 Actually, we have made a calculation. There is no way a couple earning 4k to own a 4-rm hdb without any cash upfront, and just use CPF. Here's the calcuation.Total income : 4k Cpf contribution (refer : http://www.cpf.gov.sg/cpf_info/Online/Contri.asp) Ordinary Account $ 920.08 Medisave Account $ 280.00 Special Account $ 199.92 -------------- Total Contributions $ 1,400.00 =========== Total AO accumlated after 6 mths : $5520.48 Assumming $5520.48 is used totally for min downpayment at the time of signing of the Agreement for Lease ( exclude stamp fee and legal fee) , which is 5% of the cost of the unit. Then , the bto flat got to be sold at $110,409.60. BTW , even hougang BTO is selling at 250k upwards.maybe they are entitled to AHG and all the other grants... and maybe getting 3-rm instead of 4-rm la... ...but yah... think the maths failed one... if not, it's some complex s-h-i-t that only statisticians and politicians use to "put wool over the eyes" Share this post Link to post Share on other sites
gimz63251073 0 Report post Posted April 27, 2011 can buy BTO with nil cash down after working half a year...? i assume he can count la.say BTO takes 3 yrs to build, so take the 3 yrs to save up for wedding, reno, etc...resasonable to me.BUT, the whole flat use up all the CPF leh. This he never respond.Emptying CPF for an asset which cannot be sold will just create another problem down the road.The use of 30 yr loan to pay - MBT never reply as well.But MM reply for him "there is no such thing as retirement". Just that MBT no powderful enough to say it nia. Share this post Link to post Share on other sites
bepgof 20 Report post Posted April 27, 2011 (edited) Politicians/elites/scholars love to use this 3-step tactic(3c):- Convince, confuse, condemn.Convince fails, confusion comes, follow by condemning at last. Must learn this when one climbs coporate ladder.Once they are empowered, they don't even bother to convince, they will sing Boney M's "one-way ticket". can buy BTO with nil cash down after working half a year...? i assume he can count la.say BTO takes 3 yrs to build, so take the 3 yrs to save up for wedding, reno, etc...resasonable to me.BUT, the whole flat use up all the CPF leh. This he never respond.Emptying CPF for an asset which cannot be sold will just create another problem down the road.The use of 30 yr loan to pay - MBT never reply as well.But MM reply for him "there is no such thing as retirement". Just that MBT no powderful enough to say it nia. Edited April 27, 2011 by bepgof Share this post Link to post Share on other sites
