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#1

Posted 19 August 2014 - 12:09 AM

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Bros,

 

Need some advice from you guys, I am staying in the West and previously I was looking at Sea Horizon EC but at that time I haven't fullfilled my MOP and also the EC is in the east far from my work place too.

 

Today there is a new EC launching soon in Jurong and I registered online. The person super helpful, call me and ask me for more information. I realised with my OT I exceeded the income ceiling. I was told that I need to appeal and subject to developer approval. I was disappointed because I have been waiting for this EC since I missed the previous one.

 

Yesterday our PM Lee talked about Jurong Lakeside transformation, hope to make some money in future for this EC. This EC is call Lakelife EC - www.thelakelife.com.sg. 

 

Any bros here bought an EC but exceed income ceiling and appeal successfully? Is developer or HDB very strict on income ceiling  sad.gif sad.gif 

I waited for upgrade since last year but now income exceeded. super sian.

 

 

Thanks in advance.

 


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#2

Posted 19 August 2014 - 12:19 AM

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Bros,
 
Need some advice from you guys, I am staying in the West and previously I was looking at Sea Horizon EC but at that time I haven't fullfilled my MOP and also the EC is in the east far from my work place too.
 
Today there is a new EC launching soon in Jurong and I registered online. The person super helpful, call me and ask me for more information. I realised with my OT I exceeded the income ceiling. I was told that I need to appeal and subject to developer approval. I was disappointed because I have been waiting for this EC since I missed the previous one.
 
Yesterday our PM Lee talked about Jurong Lakeside transformation, hope to make some money in future for this EC. This EC is call Lakelife EC - www.thelakelife.com.sg. 
 
Any bros here bought an EC but exceed income ceiling and appeal successfully? Is developer or HDB very strict on income ceiling  sad.gif sad.gif 
I waited for upgrade since last year but now income exceeded. super sian.
 
 
Thanks in advance.
 


Depends you exceeded by how much. If this EC is very popular ( I guess so) then developer why want to wait for u to get the HDB approval? Might as well sell to confirmed qualified buyers.

You should try those EC which already launched at least 6 mths but not fully sold yet. Developer more willing to "try" cos ultimately it's subject to HDB final approval.
Mustank and 1 Anonymous member praised this
人恶人怕天不怕,人善人欺天不欺;善恶到头终有报,只争来早与来迟。

#3

Posted 19 August 2014 - 02:44 AM

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income ceiling based on basic. nothing to do with OT pay


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#4

Posted 19 August 2014 - 06:13 AM

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Property market quite quiet but maybe this one special since it was mentioned in the rally.

I still see many era agents 摆摊子 trying to sell some old EC and DBSS projects that has already or to be TOP.
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#5

Posted 19 August 2014 - 06:33 AM

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Income ceiling as little prince mentioned does not include ot.
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#6

Posted 19 August 2014 - 06:42 AM

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Assessment is based on average monthly gross income (excluding income earned from overtime work) which includes allowances (fixed/variable) received on a regular basis (e.g. transport, food, laundry, uniform, etc).

 

Click here for full details

http://www.hdb.gov.s...ne?OpenDocument


Edited by Dafansu, 19 August 2014 - 06:43 AM.

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#7

Posted 19 August 2014 - 08:05 AM

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Hope i dont offend, let me share some thoughts.

Currently have HDB almost fully paid
Also did cross mind in buying EC but decided against it.

HDB is bigger in better location and neighbors are nice folks.

Buying EC means i give that all up and have to fork out more money and be in debt again. In other words, be imprisoned yet again.

Some people say, buying EC can hedge inflation etc.... I agree. But to ever be able to use the money you must sell the property. So LPPL.

My take is that i save up and invest all the possible cash i earn to give me passive income. I can still have a stable life, lesser stress, little or no debt and retire around 60....

Property buying is not wrong. But its truly rich man's game. And i think due to the sudden price increase in recent years ( which is no more) normal folks think that they can "one step to heaven"

Ok, again hope i dont offend, my view only.

Edited by Partagas, 19 August 2014 - 08:07 AM.

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On a virgin's thigh....

#8

Posted 19 August 2014 - 08:25 AM

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Bros,

 

Need some advice from you guys, I am staying in the West and previously I was looking at Sea Horizon EC but at that time I haven't fullfilled my MOP and also the EC is in the east far from my work place too.

 

Today there is a new EC launching soon in Jurong and I registered online. The person super helpful, call me and ask me for more information. I realised with my OT I exceeded the income ceiling. I was told that I need to appeal and subject to developer approval. I was disappointed because I have been waiting for this EC since I missed the previous one.

 

Yesterday our PM Lee talked about Jurong Lakeside transformation, hope to make some money in future for this EC. This EC is call Lakelife EC - www.thelakelife.com.sg. 

 

Any bros here bought an EC but exceed income ceiling and appeal successfully? Is developer or HDB very strict on income ceiling  sad.gif sad.gif 

I waited for upgrade since last year but now income exceeded. super sian.

 

 

Thanks in advance.

 

 

i was in the same boat.

looked at EC in the north, income exceeded ceiling, agent was super helpful (obviously, no sale no money) and said there shouldn't be a problem appealing and getting approval. What he said was the appeal will be decided by developer. HDB only issues guidelines.

????

yeah my reaction too.

 

queued up, picked unit..... then backed out (largely because I concur with Partagas above)

also, I foresee overcrowded facilities, low quality China developer, smaller size than my hdb (despite same number of rooms), overpriced (a resale pte condo nearby was selling less psf) etc

 

i'm sure you're looking at the upcoming EC near taman jurong.

Bear in mind the chinese developer snagged that plot on a record breaking bid at the peak of the boom 2 years back.

 

 

 

 


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#9

Posted 19 August 2014 - 08:27 AM

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EC is a "trap" to slave you for another 25 years if you already fully paid your HDB

paying more for less is a downgrade from HDB to EC ... 

especially the "useable" space of the unit is < 1000 sqft with a gigantic balcony + aircon ledge + void space

not to mention the cheapo material and quality built by "china developer" but price at a premium .... EC leh don't play play

 

 


Edited by Wt_know, 19 August 2014 - 08:32 AM.

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#10

Posted 19 August 2014 - 08:27 AM

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Bros,

 

Need some advice from you guys, I am staying in the West and previously I was looking at Sea Horizon EC but at that time I haven't fullfilled my MOP and also the EC is in the east far from my work place too.

 

Today there is a new EC launching soon in Jurong and I registered online. The person super helpful, call me and ask me for more information. I realised with my OT I exceeded the income ceiling. I was told that I need to appeal and subject to developer approval. I was disappointed because I have been waiting for this EC since I missed the previous one.

 

Yesterday our PM Lee talked about Jurong Lakeside transformation, hope to make some money in future for this EC. This EC is call Lakelife EC - www.thelakelife.com.sg. 

 

Any bros here bought an EC but exceed income ceiling and appeal successfully? Is developer or HDB very strict on income ceiling  sad.gif sad.gif 

I waited for upgrade since last year but now income exceeded. super sian.

 

 

Thanks in advance.

 

 

 

Bro,

if ur current unit is a direct purchase from HDB, u will have to factor in levy as well.


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#11

Posted 19 August 2014 - 08:29 AM

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Income ceiling include fixed allowance and pay only.

 

Anyway, PM Lee just talked about Jurong Lakeside transformation and so fast you want to buy a house in Jurong Lakeside area?!


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Clothe yourselves with compassion, kindness, humility, gentleness and patience.
Life is very fragile. Nobody knows what's gonna happen next.

#12

Posted 19 August 2014 - 08:30 AM

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wait kena chop robert by agent TCSS JLD is the next Marina Bay with lake and high rise skyline

 

Income ceiling include fixed allowance and pay only.

 

Anyway, PM Lee just talked about Jurong Lakeside transformation and so fast you want to buy a house in Jurong Lakeside area?!

 


Edited by Wt_know, 19 August 2014 - 08:33 AM.


#13

Posted 19 August 2014 - 08:30 AM

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Hope i dont offend, let me share some thoughts.

Currently have HDB almost fully paid
Also did cross mind in buying EC but decided against it.

HDB is bigger in better location and neighbors are nice folks.

Buying EC means i give that all up and have to fork out more money and be in debt again. In other words, be imprisoned yet again.

Some people say, buying EC can hedge inflation etc.... I agree. But to ever be able to use the money you must sell the property. So LPPL.

My take is that i save up and invest all the possible cash i earn to give me passive income. I can still have a stable life, lesser stress, little or no debt and retire around 60....

Property buying is not wrong. But its truly rich man's game. And i think due to the sudden price increase in recent years ( which is no more) normal folks think that they can "one step to heaven"

Ok, again hope i dont offend, my view only.

 

Agree. Got a friend this year turn 45 years and go commit on a condo for a loan of 32 years. Every month need top up over 1.8k for the loan. The only good side on this is that he can tell all his friends/relatives that he own condo....


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#14

Posted 19 August 2014 - 08:35 AM

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Hope i dont offend, let me share some thoughts.

Currently have HDB almost fully paid
Also did cross mind in buying EC but decided against it.

HDB is bigger in better location and neighbors are nice folks.

Buying EC means i give that all up and have to fork out more money and be in debt again. In other words, be imprisoned yet again.

Some people say, buying EC can hedge inflation etc.... I agree. But to ever be able to use the money you must sell the property. So LPPL.

My take is that i save up and invest all the possible cash i earn to give me passive income. I can still have a stable life, lesser stress, little or no debt and retire around 60....

Property buying is not wrong. But its truly rich man's game. And i think due to the sudden price increase in recent years ( which is no more) normal folks think that they can "one step to heaven"

Ok, again hope i dont offend, my view only.


For first timer buying EC which is cheaper by 20 to 30 % of nearby private condo is not a bad choice.

Unless like your case you almost paid up your current hdb and may want to buy another unit to rent out for passive income then is different story.

With the new MSR in place, the developer also won't dare to price the units too high. Worth explore.
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人恶人怕天不怕,人善人欺天不欺;善恶到头终有报,只争来早与来迟。

#15

Posted 19 August 2014 - 08:39 AM

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buy EC (public housing) have to sell HDB unless buy PC that price 20-30% higher than EC

 

buy 1st hand different story ... if lucky buy $700K sell $1.1-$1.2M ... [sly]

 

6-8 years ago ... buy $450K and now sell $900K

 

For first timer buying EC which is cheaper by 20 to 30 % of nearby private condo is not a bad choice.

Unless like your case you almost paid up your current hdb and may want to buy another unit to rent out for passive income then is different story.

With the new MSR in place, the developer also won't dare to price the units too high. Worth explore.

 


Edited by Wt_know, 19 August 2014 - 08:42 AM.

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#16

Posted 19 August 2014 - 08:44 AM

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Agree. Got a friend this year turn 45 years and go commit on a condo for a loan of 32 years. Every month need top up over 1.8k for the loan. The only good side on this is that he can tell all his friends/relatives that he own condo....

Loan 32 years and yet needs to top up 1.8k monthly? Your friend bought the condo with one income ar?


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#17

Posted 19 August 2014 - 08:48 AM

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IMO not a good time to buy any property now...there'll be further correction in price.


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#18

Posted 19 August 2014 - 08:56 AM

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age 45 can take 32 years loan till age 77? hehe

#19

Posted 19 August 2014 - 08:58 AM

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rich man spotted [grin]


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#20

Posted 19 August 2014 - 08:58 AM

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EC is a "trap" to slave you for another 25 years if you already fully paid your HDB

paying more for less is a downgrade from HDB to EC ... 

especially the "useable" space of the unit is < 1000 sqft with a gigantic balcony + aircon ledge + void space

not to mention the cheapo material and quality built by "china developer" but price at a premium .... EC leh don't play play

 

 

remembered porker ever mentioned there is a logic to these big balconys, what was it ah? Cant be for smoking right?   :)


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