May 2015 BTO Launched

[Gixxerfied]

more power than property agent's calculation...thumb up!


i think this investment pretty high risk...

if interest rate go up in future,

if resale continue to drop at the rate of 5% per annum...

if any recession hit Singapore...

Nice calculation, if only mathematics alone can explain how the world works.

How about looking at the macro factors?

1. Buy at top of market before recession and rising interest rate is not smart.

2. Nowadays youngsters are employed in service and banking sector positions that are vulnerable to recession.

3. If property value falls in a recession, can the marriage survive? Assuming that one party is the one pushing for the expensive BTO?

4. Possible future political unrests, ISIS?

Just very basic calculation which i feel everyone should at least do to have a basic understanding of the boat you're boarding..

But you know lar, youngster nowadays like to have that dream..Hoot gd location 5rm, have steady pom pi pi wedding at atas hotel, go Europe honeymoon etc etc..

Edit: Got one guy combined earning 8.5k with about 100k in O/A, i also ask him if really wan, get 4rm instead of 5..

 

[platopus]

Me and my fiancee both civil servants. Earn 4k each a mth (8k combined). Currently OA got only 5k (cause transferred to SA). But wanna hoot a sobf at punggol 450k. December can start our life liao.. just no money to renovate...yet



Both of us age 26 , feasible a not ah
Next mth get married but wedding expenses only abt 11k all paid le

 

[cydutzyahoo]

Okay, let me break it down further.

Since you mention take home let say 5k, i assume one takes home 3k and the other 2k which works out to a gross salary of $3750 & $2500 respectively.

Total CPF contribution would be $863 + $575, i shall dump in 2 months VB and 1 month AWS so you would have $68000 combined after 3 years inclusive of 2.5% CPF Interest..

Selling Price of Flat $650k
You mention Bank Loan so: $32.5k(5% Cash), $97.5k(15% CPF)
If HLE then staggered DP of 5%: $32.5k

Stamp and duty for a 650k unit = $14600

Total payable during 2nd appt aka signing of lease agreement,
Bank Loan = $32.5k Cash, $97.5k 15% CPF & $14.6k Stamp Fees(Thru CPF or Cash)
HLE = $32.5k thru CPF or Cash(5% Staggered DP) & $14.6k Stamp Fees(Cash or CPF)

3 years down the road, flat completed,

For Bank: $530k(Remainder) - $68k(Wipe out CPF) = $452k Required

For HDB: $617.5k(Remainder) - $68k(Remaining 5% DP included) = $549.50k

From here it would be based on HLE,

Max Loan based on $3750 + $2500 = $413.2k

$549.5k - $413.2k = $136.3k Cash Top Required !!!

You mention saving 3k a month right, I shall give u the benefit of a doubt and dump in 2 months VB and 1 month AWS so a total of 45 months..

Total after 3 years = $135k

Not bad huh, just need 1.3k more to get the house..Wait, Renovation how huh?? Smelly smelly 50k with appliances..I think u better save 4k every month..

$413.2k loan for 25 years is $1815/month, your combined O/A contribution is $1438/month so u need cash top $377 monthly..

I dont wana add in any future increment cos those are potential, not confirm..

Good luck

HDB downpayment not 10% CPF? what do you mean by 5% staggered DP? sorry noob

 

[Gixxerfied]

HDB downpayment not 10% CPF? what do you mean by 5% staggered DP? sorry noob

As long as one applicant is under the age of 30 at time of application, would be eligible for 5% Staggered DP..Holds thru for first timer family..

 

[ckling]

Me and my fiancee both civil servants. Earn 4k each a mth (8k combined). Currently OA got only 5k (cause transferred to SA). But wanna hoot a sobf at punggol 450k. December can start our life liao.. just no money to renovate...yet



Both of us age 26 , feasible a not ah
Next mth get married but wedding expenses only abt 11k all paid le

why u transfer to SA before buy house ah? just to earn extra interest?

 

[fitlies]

Hey guys, if there's a shortfall that's payable in cash, at which stage of the application must the payment be made?

Also any idea how does one get accepted/rejected for SBF? I'm afraid the 'system' will reject my application even when I meet all other criteria, and probably is just lacking this little bit of shortfall.

Sent from HTC One using GAGT

 

[saffronsatire]

May's BTO has quite a turn!!!

The BTO applications have already exceeded the no. of available flats while the SBF have so much leftovers despite some are in prime areas.

BTO: http://services2.hdb.gov.sg/webapp/BP13BTOENQWeb/AR_May2015_BTO?strSystem=BTO

SBF: http://services2.hdb.gov.sg/webapp/BP13BTOENQWeb/AR_May2015_SBF?strSystem=SBF

sembawang bto not as popular as i expected despite the proximity to the mrt. overshadowed by clementi and tampines bto. punggol also not that popular as of now.

mature estate sobf expensive and less time to accumulate cpf monies. maybe that's why some ppl may prefer bto.

 

[v-dateo]

hi guys, do you know if you can apply for bto if you're mid way through getting a resale (1st appointment)? Appreciate your advice

 

[cydutzyahoo]

comparing sembawang to punggol BTO, which one would you guys choose?

sembawang pro, very near MRT
con: surrounding amenities, like nothing?

punggol pro, got nice sea view, got atas feel, like tanjong rhu
cons, super far away from central

 

[saffronsatire]

Ya completely agree...

Hopefully a lot of people change their minds when selecting flat...

Haha

that is provided you get a queue number. problem is now they chiong to apply also, will effectively reduce the odds ard.

 

[Webbyboy]

Me and my fiancee both civil servants. Earn 4k each a mth (8k combined). Currently OA got only 5k (cause transferred to SA). But wanna hoot a sobf at punggol 450k. December can start our life liao.. just no money to renovate...yet



Both of us age 26 , feasible a not ah
Next mth get married but wedding expenses only abt 11k all paid le

Can, monthly top up cash about $500+ and downpayment of 10% of flat price in cash.

 

[cloverpark]

comparing sembawang to punggol BTO, which one would you guys choose?

sembawang pro, very near MRT
con: surrounding amenities, like nothing?

punggol pro, got nice sea view, got atas feel, like tanjong rhu
cons, super far away from central

Even though I do not like both sites, I'll choose Sembawang over Punggol any time.

Punggol pro is far from the view of tanjong rhu.

View of Punggol pro -

https://www.google.com.sg/maps/plac...15fec8c9c21d:0x1e58afe6c5752698!6m1!1e1?hl=en

View of Tanjung Rhu -

https://www.google.com.sg/maps/plac...18445d1c25f3:0x8a687531d962b586!6m1!1e1?hl=en

 

[Gixxerfied]

Hey guys, if there's a shortfall that's payable in cash, at which stage of the application must the payment be made?

Also any idea how does one get accepted/rejected for SBF? I'm afraid the 'system' will reject my application even when I meet all other criteria, and probably is just lacking this little bit of shortfall.

Sent from HTC One using GAGT

Seldom reject since u met all requirements..Getting a good ballot results is another..

Shortfall between flat remaining price vs approved loan is during key collection time..They will inform you

hi guys, do you know if you can apply for bto if you're mid way through getting a resale (1st appointment)? Appreciate your advice

Best that you call HDB and ask..

comparing sembawang to punggol BTO, which one would you guys choose?

sembawang pro, very near MRT
con: surrounding amenities, like nothing?

punggol pro, got nice sea view, got atas feel, like tanjong rhu
cons, super far away from central

The seaview would be blk by Aug Northshore development anyway...

- May/Aug BTO facing north west direction..Good thing about May's plot is it would be blk by Aug development once it's up.
- Aug development nice sea view right, gives u late noon to sunset sun as well + the reflection off the water = free sauna
- Sea wind not exactly healthy for some hardware
- It's mostly factories ships berth on the opposite side(Malaysia)..

 

[otaku7]

what are the fees or parables which need to be made out in cash only?

Sent from Sony D6653 using GAGT

 

[saffronsatire]

comparing sembawang to punggol BTO, which one would you guys choose?

sembawang pro, very near MRT
con: surrounding amenities, like nothing?

punggol pro, got nice sea view, got atas feel, like tanjong rhu
cons, super far away from central

sembawang to me also not very near central. maybe not used to living further up north. my threshold is amk.

 

[Gixxerfied]

what are the fees or parables which need to be made out in cash only?

Sent from Sony D6653 using GAGT

Option fees

If CPF enough then no need cash for downpayment..Option fees would be refunded..

 

[neekpee]

application rates

Hello guys, first timer here seeking a bit of advice and guidance. Thanks so much for all the great information so far.

I am looking at Bukit Merah SOBF or Clementi BTO, impartial to 4 or 5-room units. My goal is mainly to apply to any given one that gives me the highest chance of a successful outcome. That being said, as a first timer applying under none of the priority schemes (PPS, MCPS etc), should I just be looking at the lowest application rates here?

As of today, application rates for Bukit Merah SOBF is 0.7 (4rm) and 1.0 (5rm) and Clementi Crest is 3.4 (4rm) and 4.7 (5rm). Should I be just simply going for the lowest application rate or should I also be considering no. of units or anything else?

 

[380002]

Hello guys, first timer here seeking a bit of advice and guidance. Thanks so much for all the great information so far.

I am looking at Bukit Merah SOBF or Clementi BTO, impartial to 4 or 5-room units. My goal is mainly to apply to any given one that gives me the highest chance of a successful outcome. That being said, as a first timer applying under none of the priority schemes (PPS, MCPS etc), should I just be looking at the lowest application rates here?

As of today, application rates for Bukit Merah SOBF is 0.7 (4rm) and 1.0 (5rm) and Clementi Crest is 3.4 (4rm) and 4.7 (5rm). Should I be just simply going for the lowest application rate or should I also be considering no. of units or anything else?

Go for the location you really like.

ANYWAY I also applied for Bukit Merah SOBF today!! Plz don't come snatch I'm also a first-timer applying under none of the schemes, hae hae.

 

[animefanatic]

sembawang bto not as popular as i expected despite the proximity to the mrt. overshadowed by clementi and tampines bto. punggol also not that popular as of now.

mature estate sobf expensive and less time to accumulate cpf monies. maybe that's why some ppl may prefer bto.

Guess if depends on the type of room. If you see the application rate for Sembawang 4-rm, you will see Sembawang is just after clementi.

 

[animefanatic]

what are the fees or parables which need to be made out in cash only?

Sent from Sony D6653 using GAGT

Option fees are to be made by cash during selection of flat. $2K for 4-rm flat, $1K for 3-rm flat, $500 for 2-rm flat and $250 for Studio Apartments. (source: http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatOptionFee?OpenDocument)

For other fees, it depends whether you are intending to take HDB Loan or Bank Loan.

You can refer to this for more info: http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatCostsInvolved?OpenDocument