HDB Installment Calculation

[Gadgeter]

Wahhhhhhh....good for you. I only made 65k after deducting (cpf + interest incur + outstanding loan). Not much, but it is enough to cover the bank downpayment 5%(27+k), agent com fees(13+k), COV of my buying of flat(12+k). Still left balance abt 13k for minor renovation works. hehe. Not too bad hor.

 

Housing loan wise, Me & wify combine should be able to clear the outstanding loan in 10 years time.

 

I'm working towards clearing my loans in 15years.. But the plan might be delay due to the recent downturn and I lost quite a bit in my CPF investment...

[Law_ong]

actually the rationale of max loan period from HDB is to buffer a contingency to us home owner... this was explained by a old timer in there (not sure how true but it does sound logical).

 

for example, you choose 15yrs period and paying a substantial amt of monthly instalment and you have a lower interest incurred. but during your 10yr, you got financial problem and want to extend loan period from 15 to 20yrs to reduce month payment; you cant.

 

however, if you loan for 30yrs and during the 10yrs of stay; you accumulate a lump sum (due salary increment/promotion/lottery), u can pay the lump sum to HDB to offset principal and reduce your interest incurred.

 

this is their policy so it does sound logical to take max loan period compared to bank loans.....

[Silver_blade]

Oh yes, there are such buyers.

 

I was approached by a few agents early last year....offering me pretty good price eg. COV around $100k-$150K....but need me to move out fast. Tho the money is good and we have another place to go to (much further from the city)...but we like the location of the flat and are unwilling to sell.

 

 

[Law_ong]

own parent's flat. can wait till you ROM leh, might even get lower valuation for you to pay.

 

side track abit, you are going to stay with your in-laws or they will move to somewhere else??

[Law_ong]

i can see those high fireworks from the national stadium....but it was in the past. got some high rise buildings built up these few years blocking my view. Otherwise, i have been checking them out from my front door and telling my family what colour of the firework is coming up on the ndp screen featured on tv...

[RadX]

Mine in 5 yrs.....hopefully

[Law_ong]

you mean you staying with parent now? not a bad idea thou, can rent out to ang moh, foreign parents with kids in sport school, american sch, jbrean etc

 

passive income is always good as a supplement

[Ahyoo2002]

Wowwwwwwww....Great Minds think alike.

 

I have thot sooooo far too, the unit can be divided equally to my 2 kids too.....in due course.

 

Im sure it will worth a hell lot more than the current 550k pricetag come 20-30 years time.

 

We are both the old fashion type.

 

Looks like I am the not so old fashion type. I have try as much as I can fund almost everything that I enjoy now. Hence I always think whatever my kids want, they should earn it them self. I will likely fund through their study, that is all.

[Ahyoo2002]

i can see those high fireworks from the national stadium....but it was in the past. got some high rise buildings built up these few years blocking my view. Otherwise, i have been checking them out from my front door and telling my family what colour of the firework is coming up on the ndp screen featured on tv...

 

I thought you stay in Woodlands?

[Gadgeter]

Oh yes, there are such buyers.

 

I was approached by a few agents early last year....offering me pretty good price eg. COV around $100k-$150K....but need me to move out fast. Tho the money is good and we have another place to go to (much further from the city)...but we like the location of the flat and are unwilling to sell.

 

 

Especially who 'downgraded' from landed....

[Law_ong]

yes i am....

 

sin not that big country leh, when firworks are shoot high up. u can see it as long there is no obstruction in your line of sight. having said that, i can not see this anymore after they shifted from National stadium to the floating platform and with high rises in the way.

[Ahyoo2002]

yes i am....

 

sin not that big country leh, when firworks are shoot high up. u can see it as long there is no obstruction in your line of sight. having said that, i can not see this anymore after they shifted from National stadium to the floating platform and with high rises in the way.

 

Wah, Woodlands can see fireworks from stadium, SGP is really small

[Thug]

agreed that its a good investment. but i would say it is good if its a private property. its a hdb flat for goodness sake!

 

the garment will never let the price of new flat be anymore lower when its current new flats are selling at such price; otherwise, those who bought it now will revoke! our land is scare as well thus its a matter of fact that prices of land will increase.

 

as citizen, we already have no said to their policy on tagging new flat to market rate, why are we helping them to reap more revenue? we are just creating problem for our future generation in getting a house/flat of their own...or we want to see them migrating out like our forefathers to other countries???

 

nothing personal, just my own view...cheers..

 

How many can afford a pte property?

5% of the whole population?

If I can afford of coz I'll get a pte property instead of a HDB.

In terms in value rising pte property no doubt is on top. QUestion is how many can afford?

 

A simple terrace in Jurong West Ext, at the edge of Tuas and housing estate will already cost u 1.5 million (freehold). Tok about condominiums like alexi. 900+ psf, parking lots need bidding(lol).

If u r a commoner like me and many others, getting a HDB is the best way and the most logical thing to do. Treat it as a smaller investment than those buying pte properties.

 

New flats depends on their location also mah. If u got a bigger budget go ahead and buy the next down-town HDB. If not get those further away from town.

 

"as citizen, we already have no said to their policy on tagging new flat to market rate, why are we helping them to reap more revenue? we are just creating problem for our future generation in getting a house/flat of their own...or we want to see them migrating out like our forefathers to other countries???"

How to tackle this question? Dun buy at all? U are buying and selling at profit. Not losing. Inflation is here to stay.

[Law_ong]

Haiz, that is the mentality i am referring to. Just take HDB as an affordable housing for commoner and we should not take this as an investment. Becoz of this we are being capitalised by the "horse" changing the policy on sales of HDB - tagging sale to market then rebate...

 

terrace are commonly huge built-up areas, in fact their psf are always lower than condo, if you can afford. there are condos costing 400+psf in you look ard (most pre-owned). freehold new development at good location now cost 800+ negotiable if you are looking ard now...

[Ilix]

I would think that first property purchase should be a hdb.

 

Only purchase a second property when you're able to sustain the loan without depending on the rental income.

[Zyrofillica]

That is exactly what i think too. HDB very seldom drop in pricing. Even if they do, they will eventually continue to increase. Having said that, its never a good or bad time to buy a flat.

 

My Sem flat was purchase @ 228k in year 2000....just sold for 357k

 

Toa Payoh 5 room was selling @ abt 400k back in 2005. Now almost all 5-room flats in toa payoh are easily worth 500k.

 

I dont think prices will ever drop back to the intial pricing.

 

i wonder how long can this bubble continue to grow. I think prices will have to start dropping sooner or later or the future generations will not be able to afford a home. Or maybe have to wait till those 99yr lease is over and the govt takes the unit back at a ridiculously low price. The market prices for flats will then be adjusted accordingly based on the number of years left.

[Ilix]

lol prolly when foreigners leave the country.

 

Lesser demand, more supply.

[Curahee]

Young couple can always buy a 3 room flat or 4 room. Dun understand y many pple want to go for the 5-rooms or exec. flats & then complain expensive and need to work till die.

 

I juz get my brand new flat 5 rm at lake side there for 270k plus mid floor, its even cheaper den 3rm and 4 rm and 5 rm around my area jurong east. I state the price ppl tot i buy 4 rm flat.