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Hdb income ceiling revised 2019

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2 hours ago, Showster said:

A grant is really a grant.

Although it is not a discount.

If get 80,000 grant, would have saved about 28,000 over 25 years at 2.6% interest rate. No loss with returning the 80,000 25 years later.

Grant need to pay interest or not, that one need to check. 

But even if need to pay back, still nothing lost as money becomes much smaller after 25 years.

Do partial redemption as and when finance allowed.

The saving is quite a lot especially 1st 5 years.

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all the radio and tv sexperts welcome the news and all shout huat until siao ar!

those new buyers earning $12K-$14K now can buy new bto ... spur new bto sales

those buy resale got higher grant .... spur resale flat sales

those sold resale flat make more money .... can buy private condo .... cheong ar

those sell private condo make money can buy landed or bigger unit 

everyone huat ... everyone happy .... xmas come early!

wansui wansui wan wan sui ..... :a-panic:

Edited by Wt_know

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11 hours ago, Davidtch said:

Do partial redemption as and when finance allowed.

The saving is quite a lot especially 1st 5 years.

Dunno anyone kenah this.... Last time I went to the area office and told them to use my cpf to pay off the balance of my housing loan ... About $5k only. 

I had more than than in my cpf.... But the staff at the counter told me I have to pay partial with cash instead if I wanted a full redemption! 

So I just told her to forget it and then continue to deduct from my cpf.

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A relative of mine is not too affected. Too little still.😅

When he wanted to buy a brand new HDB unit, he dun qualify for any grants and cannot take HDB loan, can only loan from external banks. His income ceiling too high. 

2 options for him. Go buy HDB resale with external bank loan or buy PC. He bought PC not because he atas or rich but there was a period when HDB owners think got gold/diamond mines and even an oil field in their units.

He said some units with original condition from day one but asking $30k cov. Some abit more reno but done 3-5 years ago were asking min $50k cov. Yet some asking $80k - $120k cov because got a tiny pocket sea view that one needs a binocular to see clearly. Those with nice sea view or unblocked views can be $100k cov onwards.

If he had bought any of these he foresee having to fork out another $20k minimum for renovations. Some units will need $40-60k for flooring hacking, kitchen revamp, windows renewals or change, electrical wiring renew, toilet bowls changed etc. 

So buying a brand new PC was a more prudent way for him as he can use his CPF and minimal cash upfront. Currently monthly loan instalments is thru CPF. Zero cash needed to service the loan.

That's his views. He's happy in his current home. No intention to sell or jump to a HDB for now.

Maybe when prices goes up much higher like some bros are predicting then he will sell for a good profit n downgrade for retirement. Practical fellow. Live within his means and eyes no green.

Hehe...i just glad we are able to have a roof over our heads. Asians tend to prefer ownership of our houses then the angmos who are ok with renting apartments very long term.

Just yada-ing and sharing. Hopefully more ppl are able to benefit from latest changes.

Safe ride

Cheers

Edited by PSP415
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^ similar to our case. last time COV is really siao siao, enough to DP PC. Might as well don't bother if space is not a big concern. 

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50 minutes ago, Ysc3 said:

Dunno anyone kenah this.... Last time I went to the area office and told them to use my cpf to pay off the balance of my housing loan ... About $5k only. 

I had more than than in my cpf.... But the staff at the counter told me I have to pay partial with cash instead if I wanted a full redemption! 

So I just told her to forget it and then continue to deduct from my cpf.

bto or resale? if bto should be able to pay off everything using CPF even the conveyance and stamp fee.

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9 minutes ago, Dafansu said:

bto or resale? if bto should be able to pay off everything using CPF even the conveyance and stamp fee.

Resale.... I took 25k for 10years loan and on the  5th year left less than 5k ....and my cpf already more than 5k....so decide to save some interest but then was told to pay cash instead. 

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4 minutes ago, Ysc3 said:

Resale.... I took 25k for 10years loan and on the  5th year left less than 5k ....and my cpf already more than 5k....so decide to save some interest but then was told to pay cash instead. 

Likely u have met the withdrawal limit that's why the rest in cash. If BTO no issue

CPF Withdrawal Limit

Based on whether you are buying a new HDB flat, resale flat or a private property, the Valuation Limit or the Withdrawal Limit may apply.

  • Valuation Limit is the lower of the purchase price or valuation at the time of purchase.
  • Withdrawal Limit is the maximum amount of CPF you can use for your home, currently capped at 120% of the Valuation Limit.
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4 hours ago, Dafansu said:

Likely u have met the withdrawal limit that's why the rest in cash. If BTO no issue

CPF Withdrawal Limit

Based on whether you are buying a new HDB flat, resale flat or a private property, the Valuation Limit or the Withdrawal Limit may apply.

  • Valuation Limit is the lower of the purchase price or valuation at the time of purchase.
  • Withdrawal Limit is the maximum amount of CPF you can use for your home, currently capped at 120% of the Valuation Limit.

This withdrawal limit applies to BTO as well right? States above as new HDB flat as well.

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25 minutes ago, Spring said:

This withdrawal limit applies to BTO as well right? States above as new HDB flat as well.

Only applicable for BTO if under Bank loan. For BTO most will be taking HDB loans for first timer. 

How much CPF can I use for my house 1.png

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I think its a ploy to increase price.

Last time HDB cannot use CPF to buy so they cannot sell you what you cannot afford.

After able to use CPF, price shoot up and your CPF is stuck in HDB. 

Less money for retirement unless you migrate to lower cost country

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16,000 salary limit is almost 200K ann pay check ..............  and ah gong say give u grant for EC . 

errrrrrrrrrr make sense ?  🙄 or 200k is consider the new poor 😂 

 

Anyway , EC psf went from  $400-500 to the current over $1k ?  so can imagine how thick is URA and SLA wallets. 

 

:XD:

 

 

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7 hours ago, Dafansu said:

Likely u have met the withdrawal limit that's why the rest in cash. If BTO no issue

CPF Withdrawal Limit

Based on whether you are buying a new HDB flat, resale flat or a private property, the Valuation Limit or the Withdrawal Limit may apply.

  • Valuation Limit is the lower of the purchase price or valuation at the time of purchase.
  • Withdrawal Limit is the maximum amount of CPF you can use for your home, currently capped at 120% of the Valuation Limit.

 

dont forget the Age limit ......... everyone will live till 93 . Everyone should celebrate . :grin:

 

 

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9 hours ago, Wt_know said:

all the radio and tv sexperts welcome the news and all shout huat until siao ar!

those new buyers earning $12K-$14K now can buy new bto ... spur new bto sales

those buy resale got higher grant .... spur resale flat sales

those sold resale flat make more money .... can buy private condo .... cheong ar

those sell private condo make money can buy landed or bigger unit 

everyone huat ... everyone happy .... xmas come early!

wansui wansui wan wan sui ..... :a-panic:

 

If more can buy BTO , mean less for the resales market ...... so resales price will drop ? 

 

 

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28 minutes ago, Angcheek said:

 

If more can buy BTO , mean less for the resales market ...... so resales price will drop ? 

 

 

tan kuku

PR cannot but BTO, only resale ... 6.9M population coming ... huat ah!

just in my office ... at least 2 already bought resale because want to stay near parent ... got proximity grant and it is town area ... future sale sure huat until siao

hdb resale price drop only 1 reason

location ... location ... location

else huat until siao even for punggol resale

abit near mrt only no $700K no talk!

who cares si mi sai pasir gudang or what’s not

Edited by Wt_know
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9 hours ago, Ysc3 said:

Dunno anyone kenah this.... Last time I went to the area office and told them to use my cpf to pay off the balance of my housing loan ... About $5k only. 

I had more than than in my cpf.... But the staff at the counter told me I have to pay partial with cash instead if I wanted a full redemption! 

So I just told her to forget it and then continue to deduct from my cpf.

I didn’t pay any cash for partial redemption.

That’s 10 years ago.

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I really can't understand this cpf withdrawal limit or so. My wife's hdb left 7k loan and she got a love letter from cpf saying she cannot use cpf to pay anymore. Ended up we redeem the loan after paying lawyer fee of 700. Tamade. 

Guess she would be cpf rich when we hit 55. I better love her deeper. Haaa. 

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3 hours ago, Angcheek said:

16,000 salary limit is almost 200K ann pay check ..............  and ah gong say give u grant for EC . 

errrrrrrrrrr make sense ?  🙄 or 200k is consider the new poor 😂 

 

Anyway , EC psf went from  $400-500 to the current over $1k ?  so can imagine how thick is URA and SLA wallets. 

 

:XD:

 

 

for the longesttttttttttt time

mcf already said $500K/pa is middle class

$200K is about right to get SUBSIDY for EC ... else how to survive ... muahahahaha

million dollar EC will be the norm next time ... buy now to sell 

who dont want pay toyota get lexusssss?

Edited by Wt_know

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2 hours ago, Angcheek said:

16,000 salary limit is almost 200K ann pay check ..............  and ah gong say give u grant for EC . 

errrrrrrrrrr make sense ?  🙄 or 200k is consider the new poor 😂 

 

Anyway , EC psf went from  $400-500 to the current over $1k ?  so can imagine how thick is URA and SLA wallets. 

 

:XD:

 

 

This will encourage developers to bid higher and higher for EC.  Like that how middle income earners buy?

I thought the govt said EC is for those middle income earners whom income are being sandwiched between low and high income?  Is 16k per month (averagely 8k per person) considered middle income?  Sooner they will increase to 18k then 20k.  Like that scrap EC better.

 

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must check with mcf guru showster ...

hearsay young graduates come out work no $5K no talk liao

work 2-3 years $8k already ($16k for 2)

below 35 smelly smelly $20k/mth liao

hearsay only hor [laugh] 

now everyone salary so high ... EC sup sup water la ...  property price must also goes up ma ... fair right?????

you dont buy now ... tens and hundreds of thousands people all want to come to spore hor ... dont play play

Edited by Wt_know

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HDB is actually very comfortable to live in.  ECs and PCs are over-hyped.

HDB should review the income cap to buy BTO and simply levy a premium on those who exceeds the cap.

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8 minutes ago, awhtc said:

HDB is actually very comfortable to live in.  ECs and PCs are over-hyped.

HDB should review the income cap to buy BTO and simply levy a premium on those who exceeds the cap.

HDB dun have the atas status even it is comfortable to live in lo. This is why many people eventually target is to move from HDB to EC or PC. 😂

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47 minutes ago, 13177 said:

HDB dun have the atas status even it is comfortable to live in lo. This is why many people eventually target is to move from HDB to EC or PC. 😂

got people live atas, go home jiak roti  😂

got people live hdb, go home jiak ntuc wagyu ... 
Edited by Wt_know

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1 hour ago, Wt_know said:

must check with mcf guru showster ...

hearsay young graduates come out work no $5K no talk liao

work 2-3 years $8k already ($16k for 2)

below 35 smelly smelly $20k/mth liao

hearsay only hor [laugh] 

now everyone salary so high ... EC sup sup water la ...  property price must also goes up ma ... fair right?????

you dont buy now ... tens and hundreds of thousands people all want to come to spore hor ... dont play play

The direction is correct but you exaggerated all my figures leh. Basically we have been disqualifying and building up demand year after year.

A colleague and another friend aiming for third property (paid 7% ABSD for second) both still hoping for ABSD to be lowered or removed. 

Both of them almost have full cash to pay off a whole unit!

I wonder why they cannot see how many people aiming for second property. How to let so many get third one???

Edited by Showster
Update

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1 hour ago, Wt_know said:

must check with mcf guru showster ...

hearsay young graduates come out work no $5K no talk liao

work 2-3 years $8k already ($16k for 2)

below 35 smelly smelly $20k/mth liao

hearsay only hor [laugh] 

now everyone salary so high ... EC sup sup water la ...  property price must also goes up ma ... fair right?????

you dont buy now ... tens and hundreds of thousands people all want to come to spore hor ... dont play play

Only in g0v jobs i think .... bec i believe many mmc already found sg is way too expensive 

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