hdb flexi flat : short lease for elderlies

malaikai2005

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I noticed most are not elderly here
So i open a thread for all 55 and above
Hope we can discuss and share our thoughts and experience here
Whether you are going to get one or already living in one
All about
SHORT LEASE FLEXI FLATS
whether its a 45 years,40 years,35 years,30 years etc.

As a TS ..OK I START

i intending to get one soon
I am currently living in a 5 roomed flat

Let the ball starts rolling ..old timers

:D
 

henrylbh

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What are the estimated prices for the range from 30 to 45 years?

Wouldn't it be much more expensive on a per sq ft per year basis compare to normal lease flat? And with no resale value?

Would a lease buyback scheme be cheaper?

Would there be regular funeral services at void deck or ambulance visiting the estate?
 

malaikai2005

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What are the estimated prices for the range from 30 to 45 years?

Wouldn't it be much more expensive on a per sq ft per year basis compare to normal lease flat? And with no resale value?

Would a lease buyback scheme be cheaper?

Would there be regular funeral services at void deck or ambulance visiting the estate?

No not like studio apartments like before
Now hdb mixed with those 2 room 99 years lease as well
Means there are younger people too
Why worry about funeral service?
Like my block ...not affected at all
Price range depends on locations same to lease as well
Size matters too
These short lease flats are not for investment
They are only for elderly
Who will spend the rest of their life there
 

Mr.Canberra

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HDB 2-Room Flexi Leasehold

Whenever possible buy a 99 year leasehold HBD 2-Room flat. You can later sell in the open market if you want to or let your next of kin inherit when one passes away. Basically you stay for free (minus S&CC and utilities) plus capital gains.

Flexi leasehold is like semi long term rental and confirm rugi. Every year your capital asset is depreciating. You can only sell back to HDB. Remaining lease will be pro rated and refunded to you. Might as well rent directly from HDB if you qualify. Your cash hoard after cashing out from your previous flat can use it to slowly enjoy life lah haha! :s13:
 
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malaikai2005

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Whenever possible buy a 99 year leasehold HBD 2-Room flat. You can later sell in the open market if you want to or let your next of kin inherit when one passes away. Basically you stay for free (minus S&CC and utilities) plus capital gains.

Flexi leasehold is like semi long term rental and confirm rugi. Every year your capital asset is depreciating. You can only sell back to HDB. Remaining lease will be pro rated and refunded to you. Might as well rent directly from HDB if you qualify. Your cash hoard after cashing out from your previous flat can use it to slowly enjoy life lah haha! :s13:

But rental not easy to get approval leh
Since hdb already encourage all to buy
 

Mr.Canberra

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But rental not easy to get approval leh
Since hdb already encourage all to buy

If ABC ask you to jump, will you jump? :s8:

Last time MIW ask people to stop at two children. Now say three is good.

Don't believe the MIW propaganda too much lah. Use own judgement. :s13:
 
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henrylbh

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Whenever possible buy a 99 year leasehold HBD 2-Room flat. You can later sell in the open market if you want to or let your next of kin inherit when one passes away. Basically you stay for free (minus S&CC and utilities) plus capital gains.

Flexi leasehold is like semi long term rental and confirm rugi. Every year your capital asset is depreciating. You can only sell back to HDB. Remaining lease will be pro rated and refunded to you. Might as well rent directly from HDB if you qualify. Your cash hoard after cashing out from your previous flat can use it to slowly enjoy life lah haha! :s13:

Flexi flats are nothing more than long term prepaid rent. But they are still cheaper than paying rent which is subject to increase and very difficult to rent because of the conditions and long queue. But they are also the most expensive HDB flat on a per sf per year basis with no chance of any gain.
 

malaikai2005

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If ABC ask you to jump, will you jump? :s8:

Last time MIW ask people to stop at two children. Now say three is good.

Don't believe the MIW propaganda too much lah. Use own judgement. :s13:

Wat talking you?
I said difficult to get rental approval
You like to jump you go ahead loh:s13:
 

LiteHouse

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Can I clarify this example calculation:

Elderly couple bought 4-room HDB many years ago for $100k
With current accrued interests, it is about $80k

In 4 years time, they will collect the keys to 2-room Flexi HDB. By then, the accrued interest grows to about $100k.

They need to sell their 4-room HDB within 6 months of collecting the keys to the 2-room Flexi HDB. The sales proceeds need to go back to CPF right?

Sales proceed = $400k
Principal sum + Accrued interest = $200k
Balance of $200k can withdraw as cash?
Payment of 2-room Flexi HDB is to deduct from OA? (Use back the sales proceeds just got deposited into OA)?

What about the elderly couples' CPF Full Retirement Sum? Need to hit that before any withdrawals?
 

qhong61

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Can I clarify this example calculation:

Elderly couple bought 4-room HDB many years ago for $100k
With current accrued interests, it is about $80k

In 4 years time, they will collect the keys to 2-room Flexi HDB. By then, the accrued interest grows to about $100k.

They need to sell their 4-room HDB within 6 months of collecting the keys to the 2-room Flexi HDB. The sales proceeds need to go back to CPF right?

Sales proceed = $400k
Principal sum + Accrued interest = $200k
Balance of $200k can withdraw as cash?
Payment of 2-room Flexi HDB is to deduct from OA? (Use back the sales proceeds just got deposited into OA)?

What about the elderly couples' CPF Full Retirement Sum? Need to hit that before any withdrawals?
Need to top up to full retirement sum. Balance can either leave in oa to earn interest or can request hdb to refund to couple by cheque.
 
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