Free advice/discussion on buy/sell of Resale flat (Part 6)

[villan]

Write in to HDB to appeal. I did this before I started looking at flats, before I signed OTP. Tell them the full picture, what you are getting now, why you are appealing for the waiver of the ceiling (just passed the cap 2 months ago, etc).

What will happen is someone will look at your case, and make a decision. They'll add a contingency like "Approved provided that you meet all the other eligibility conditions under the CPF Housing Grant Scheme and the mortgage loan policy; and your average gross monthly income does not exceed $12,200 at the time of your resale flat application."

My approval was valid for 6 months.

Once this decision is made, when go through the rest of the process to make the purchase, even though it may be managed under a different officer they will generally keep to their decision.

Then if your boss wanna promote you before you buy you better tell him wait first, if not you exceed $12,200 nobody can help you liao

thanks for the tip, may i know the timeframe from lodging an appeal to approval?

btw, i used the online eligibility wizard, it says i am eligible as they use a 3mths average "system"....not sure if it is 100% accurate..

 

[theblueark]

thanks for the tip, may i know the timeframe from lodging an appeal to approval?

btw, i used the online eligibility wizard, it says i am eligible as they use a 3mths average "system"....not sure if it is 100% accurate..

Write your appeal to hdbresale@mailbox.hdb.gov.sg

After writing in you should get a response within a week asking for some documents. After submitting them and maybe resubmitting if they ask for more, should be about another week before getting the email stating approved.

Your 3 months average now maybe still less than $12,000. But if your purchase drag a bit then by the time they want to verify your income maybe over $12,000 liao. Better to appeal first, your case so borderline I think got chance.

 

[villan]

Write your appeal to hdbresale@mailbox.hdb.gov.sg

After writing in you should get a response within a week asking for some documents. After submitting them and maybe resubmitting if they ask for more, should be about another week before getting the email stating approved.

Your 3 months average now maybe still less than $12,000. But if your purchase drag a bit then by the time they want to verify your income maybe over $12,000 liao. Better to appeal first, your case so borderline I think got chance.

thanks for the advice.

I am considering between a unit in marine crescent (1975) vs Haig Road (1982).

Marine Crescent unit:
-original condition
-level 3
-500m from upcoming MRT (2023)
-25k more expensive and renovation will be more costly

Haig Road
-condition: slightly renovated
-Level 5
-1km from paya lebar MRT
-25k cheaper and minimal renovation required. only touch up


Which to buy? assuming i intend to rent out after MOP.

 

[qhong61]

thanks for the advice.

I am considering between a unit in marine crescent (1975) vs Haig Road (1982).

Marine Crescent unit:
-original condition
-level 3
-500m from upcoming MRT (2023)
-25k more expensive and renovation will be more costly

Haig Road
-condition: slightly renovated
-Level 5
-1km from paya lebar MRT
-25k cheaper and minimal renovation required. only touch up


Which to buy? assuming i intend to rent out after MOP.

Are u hoping for enbloc?

 

[villan]

Are u hoping for enbloc?

why not?

which do u think have a higher chance?

 

[doremo1981]

Thanks all for e advice. Yday sign the otp. Later meet to do rest of e docs

 

[nemo88]

Thanks all for e advice. Yday sign the otp. Later meet to do rest of e docs

Congrats - fun times ahead

 

[villan]

thanks for the advice.

I am considering between a unit in marine crescent (1975) vs Haig Road (1982).

Marine Crescent unit:
-original condition
-level 3
-500m from upcoming MRT (2023)
-25k more expensive and renovation will be more costly

Haig Road
-condition: slightly renovated
-Level 5
-1km from paya lebar MRT
-25k cheaper and minimal renovation required. only touch up


Which to buy? assuming i intend to rent out after MOP.

any views to share? tks

 

[VanillaLatte]

any views to share? tks

Do u depend on public transport?

 

[villan]

Do u depend on public transport?

Nope. i intend to rent out after MOP.

 

[VanillaLatte]

Nope. i intend to rent out after MOP.

Are both near the bus stops at main road? Marine crescent is quite big.

 

[villan]

Are both near the bus stops at main road? Marine crescent is quite big.

Marine Crescent Unit is near the main road, 3mins walk to main bus stop, 10mins walk to future MRT

Haig road, 5 mins walk to feeder bus stop, 2 bus stop away from dakota MRT. 10mins walk to another feeder bus stop, 2/3 bus stop away from paya lebar mrt. walk to paya lebar MRT will take 15-20mins


how is the perception of haig road? are rooms/units easy to rent out as compared to marine crescent?

 

[VanillaLatte]

Marine Crescent Unit is near the main road, 3mins walk to main bus stop, 10mins walk to future MRT

Haig road, 5 mins walk to feeder bus stop, 2 bus stop away from dakota MRT. 10mins walk to another feeder bus stop, 2/3 bus stop away from paya lebar mrt. walk to paya lebar MRT will take 15-20mins


how is the perception of haig road? are rooms/units easy to rent out as compared to marine crescent?

Marine crescent seems to be a better choice if renting out. Bus 48 reaches Bugis and 36 suntec/ orchard within 30min by ecp if no jam. Parkway with a wide variety of shops nearby. And that area always seems more atas with so many surrounding condo

Haig rd is fine but transport not as straightforward. And I find one km mall a bit dead. I'm quite familiar with both areas heh

 

[villan]

Marine crescent seems to be a better choice if renting out. Bus 48 reaches Bugis and 36 suntec/ orchard within 30min by ecp if no jam. Parkway with a wide variety of shops nearby. And that area always seems more atas with so many surrounding condo

Haig rd is fine but transport not as straightforward. And I find one km mall a bit dead. I'm quite familiar with both areas heh

thanks for sharing. i am leaning towards marine crescent as well...except its low floor and slightly older (1975 vs 1982). But i guess with the upcoming MRT in 5 years time, it makes more sense.

btw the haig road unit is near to geylang serai CC / TKSS

 

[ryanrye]

thanks for sharing. i am leaning towards marine crescent as well...except its low floor and slightly older (1975 vs 1982). But i guess with the upcoming MRT in 5 years time, it makes more sense.

btw the haig road unit is near to geylang serai CC / TKSS

Haig Road is the less ideal option for your strategy. Since Haig Road is not near transport node, there will considerablely more time needed to find a tenant.

Marine Cresent, on the other hand, is within a well established enclave of private housing. It will be ideal for any aspiring expatriate who wish to live near city and having that convenience of mrt at doorstep.

Furthermore, Marine Cresent will be an “eye sore” for the government when the stations are completed. Therefore, Marine Cresent is likely going to be standing in the way of any future development.

 

[j]

thanks for sharing. i am leaning towards marine crescent as well...except its low floor and slightly older (1975 vs 1982). But i guess with the upcoming MRT in 5 years time, it makes more sense.

btw the haig road unit is near to geylang serai CC / TKSS

In my opinion, Marine Parade unlikely to get new BTO units or SERS in the immediate near future, simply because of how much the land around that area cost. They can simply sell off the land parcel to private developers who will pay top dollar for it.

If you are renting out, Haig road unit will have competition from the new Dakota BTO units in the area when renting out. Newer and possibly bigger units.

I'm not well versed in these, just sharing opinion/thoughts.

 

[VanillaLatte]

In my opinion, Marine Parade unlikely to get new BTO units or SERS in the immediate near future, simply because of how much the land around that area cost. They can simply sell off the land parcel to private developers who will pay top dollar for it.

If you are renting out, Haig road unit will have competition from the new Dakota BTO units in the area when renting out. Newer and possibly bigger units.

I'm not well versed in these, just sharing opinion/thoughts.

Actually will never know what the government has in mind. Had been guessing that the land parcel next to Bedok mall would be sold to private developer but... it's bto flats after all, Bedok beacon

 

[villan]

In my opinion, Marine Parade unlikely to get new BTO units or SERS in the immediate near future, simply because of how much the land around that area cost. They can simply sell off the land parcel to private developers who will pay top dollar for it.

If you are renting out, Haig road unit will have competition from the new Dakota BTO units in the area when renting out. Newer and possibly bigger units.

I'm not well versed in these, just sharing opinion/thoughts.

any enbloc potential for haig road? many private condos across the street...ipoh lane etc

 

[Tofulamb]

any enbloc potential for haig road? many private condos across the street...ipoh lane etc

No. Height restriction will be lifted only after 2030 when paya lebar air base moves. For sers potential, either commonwealth old hdbs (most likely move to tanglin halt area once they move to their new btos in 2022) or Jalan bukit ho Swee area.

Marine parade no because of how expensive the resale hdbs are.

 

[vinz]

Please don't buy trying to second guess hdb intention to Sers or not.

There are people who waited 10yrs or more and no Sers being announced at their very old block.

Primary objective should be buying to stay.

Do note there are criteria for existing owner to see whether they eligible for the replacement flat too.

-vinz