YeZhanrui Neutral Newbie December 9, 2018 Share December 9, 2018 Why not go for the HDB landed in Stirling? HDB landed in Stirling quite old.. the lease may run out before owners pass on.. plus with the prices the buyers are paying..not value for money Wow, staying in landed is a dream.... Punggol HDB is now so crowded, i am shifting to Commonwealth. Grab one of those old flats for lowball price. Still have about 50yrs lease, cheaper than buying a car. The kopitiam nearby also not so expensive like punggol Overall quite near town, i can still take MRT to Orchard. Can lah! Commonwealth , here i come! some restrictions on cpf usage when lease is less than 60 years.. may have to fork out more cash Bro, how do you qualify to buy HDB if you owns a landed property? You mean lease out your landed house and rent a HDB? Do you know landed property don't command good rent? Also, maintenance of landed house is much higher especially if you rent it out. can buy HDB first then fulfill 5 year MOP then buy landed.. its possible but depends on purpose for doing so ↡ Advertisement Link to post Share on other sites More sharing options...
Victor68 Turbocharged December 9, 2018 Share December 9, 2018 That is the fundamental flaw. HDB is meant to provide citizens an affordable roof over their head. Now it is a debt trap that makes you a slave. 1 Link to post Share on other sites More sharing options...
RogerNg_185295 6th Gear December 9, 2018 Share December 9, 2018 That is the fundamental flaw. HDB is meant to provide citizens an affordable roof over their head. Now it is a debt trap that makes you a slave.I do not think a basic 3 room flat going for an avg of 300 000 dollars is considered affordable. The number of years of loan n the interest rate is enough to deplete a middle class income family Link to post Share on other sites More sharing options...
Showster Twincharged December 9, 2018 Share December 9, 2018 I do not think a basic 3 room flat going for an avg of 300 000 dollars is considered affordable. The number of years of loan n the interest rate is enough to deplete a middle class income familyAssuming 75% loan of 225,000, every month payment is about $1021. If couple is working, each pax is $510 per month and can use CPF. Most middle income CPF alone can handle. No need to touch cash. How to deplete income? Link to post Share on other sites More sharing options...
Hosaybo 6th Gear December 9, 2018 Share December 9, 2018 Wow, staying in landed is a dream.... Punggol HDB is now so crowded, i am shifting to Commonwealth. Grab one of those old flats for lowball price. Still have about 50yrs lease, cheaper than buying a car. The kopitiam nearby also not so expensive like punggol Overall quite near town, i can still take MRT to Orchard. Can lah! Commonwealth , here i come! people buy hdb all kana MOP, you within 5 years dunno shift how many times. Power lah! Link to post Share on other sites More sharing options...
Showster Twincharged December 9, 2018 Share December 9, 2018 people buy hdb all kana MOP, you within 5 years dunno shift how many times. Power lah!He only wish he has a HDB. Link to post Share on other sites More sharing options...
Throttle2 Supersonic December 9, 2018 Share December 9, 2018 people buy hdb all kana MOP, you within 5 years dunno shift how many times. Power lah! I of course power lah. Abothen? Muayhahahahahaha Link to post Share on other sites More sharing options...
Victor68 Turbocharged December 9, 2018 Share December 9, 2018 I do not think a basic 3 room flat going for an avg of 300 000 dollars is considered affordable. The number of years of loan n the interest rate is enough to deplete a middle class income familyI fully agree with you but more importantly, is it true it cost $300k to build that flat? Even if this is true, for those that struggle, can anything else be done? Like selling at a discount and buying back by government? It is to provide that roof ot for investment. Link to post Share on other sites More sharing options...
Showster Twincharged December 9, 2018 Share December 9, 2018 I fully agree with you but more importantly, is it true it cost $300k to build that flat? Even if this is true, for those that struggle, can anything else be done? Like selling at a discount and buying back by government? It is to provide that roof ot for investment.Do you know families if 7 or 8 living in a 1rm flat costing below 100,000 or in rental flats? Link to post Share on other sites More sharing options...
RogerNg_185295 6th Gear December 10, 2018 Share December 10, 2018 Assuming 75% loan of 225,000, every month payment is about $1021. If couple is working, each pax is $510 per month and can use CPF. Most middle income CPF alone can handle. No need to touch cash. How to deplete income? What if the wife is not working? We cannot assume the best scenrrio to make it look as if flats are affordable nowadays . Link to post Share on other sites More sharing options...
Victor68 Turbocharged December 10, 2018 Share December 10, 2018 Do you know families if 7 or 8 living in a 1rm flat costing below 100,000 or in rental flats?Bro, what are you trying to tell me? Of course I know and that is why I say, we need to take care of such people. More rental units if there are such need. Not everyone csn afford $300k HDB Link to post Share on other sites More sharing options...
Kusje Supersonic December 10, 2018 Share December 10, 2018 Assuming 75% loan of 225,000, every month payment is about $1021. If couple is working, each pax is $510 per month and can use CPF. Most middle income CPF alone can handle. No need to touch cash. How to deplete income? Isn't CPF supposed to be for retirement? Link to post Share on other sites More sharing options...
Showster Twincharged December 10, 2018 Share December 10, 2018 (edited) Isn't CPF supposed to be for retirement?Still got SA that nobody can touch even if they want to.What if the wife is not working? We cannot assume the best scenrrio to make it look as if flats are affordable nowadays .If one can afford spouse staying at home, then the income had better be more than 6k at least. And that means OA every month will exceed $1,000. Edited December 10, 2018 by Showster Link to post Share on other sites More sharing options...
Kusje Supersonic December 10, 2018 Share December 10, 2018 Still got SA that nobody can touch even if they want to. If one can afford spouse staying at home, then the income had better be more than 6k at least. And that means OA every month will exceed $1,000. SA is enough for retirement? For your so called middle income couple, how much will they have in their SA after 30 years working? Enough for retirement? Link to post Share on other sites More sharing options...
Showster Twincharged December 10, 2018 Share December 10, 2018 (edited) SA is enough for retirement? For your so called middle income couple, how much will they have in their SA after 30 years working? Enough for retirement? Ok let’s be pragmatic about it. Use of OA is for those who want to deploy cash elsewhere. Those who love to accumulate OA, and those who like to transfer OA to SA are never stopped from using cash. Just over $1000 a month for this example. A couple sharing pays $500+ each a month. If still can’t afford, there are 200k and 100k options. As good as it gets... Anyway, we are quite off track in topic already. Edited December 10, 2018 by Showster Link to post Share on other sites More sharing options...
Heartlander Turbocharged December 10, 2018 Share December 10, 2018 Of all people i come across daily, some folks here in mcf are really the kindest and compassionate people ever. Despite being relatively well off by virtue of able to afford a car, they never forget about the economically disadvantaged people, always remember to bring them into every topics to remind us how lucky we are. SALUTE. Link to post Share on other sites More sharing options...
Heartlander Turbocharged December 10, 2018 Share December 10, 2018 Ok let’s be pragmatic about it. Use of OA is for those who want to deploy cash elsewhere. Those who love to accumulate OA, and those who like to transfer OA to SA are never stopped from using cash. Just over $1000 a month for this example. A couple sharing pays $500+ each a month. If still can’t afford, there are 200k and 100k options. As good as it gets... Anyway, we are quite off track in topic already. No point trying to convince these people. Most that i know are able to pay off their HDB loan in their forties, even for larger 5-rm flats. An aversge income family sure able to accomplish that for smaller units. These people just trying to act stupid to prove their points 1 Link to post Share on other sites More sharing options...
Sdf4786k Twincharged December 10, 2018 Share December 10, 2018 (edited) No point trying to convince these people. Most that i know are able to pay off their HDB loan in their forties, even for larger 5-rm flats. An aversge income family sure able to accomplish that for smaller units. These people just trying to act stupid to prove their points I suppose everyone who does that seems to expose the inner way they really think. Helps identify when to steer clear.. BTW, the new building code for Terrace has sprung up much new space creation idea. Looking at NIM collection as an example, the space wise is huge. Edited December 10, 2018 by Sdf4786k ↡ Advertisement Link to post Share on other sites More sharing options...
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