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

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Old 13-06-2013, 01:07 AM   #31
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We have a child now and also intend expand our family, hence plan to buy a bigger flat. If I'm bound by this new 5 years MOP, I couldn't buy any property only after MOP.
Do you think a letter from MP will have higher chance to appeal?
I don't think that is a good reason for your appeal to be successful.

If yes, I am sure every couple will be using that as a reason to shorten their MOP.

You can try, but I had never heard of any one who is successful with this reason given.

good luck.
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Old 13-06-2013, 01:27 AM   #32
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I think just to be fair to my spouse to own a property, we are reaching our mid-30s. Being able to own a first property at the age of 40 is consider a bit late.
I feel that we should have a proper family nucleus to own a flat.
Do you have any other suggestion?
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Old 13-06-2013, 01:53 AM   #33
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I think just to be fair to my spouse to own a property, we are reaching our mid-30s. Being able to own a first property at the age of 40 is consider a bit late.
I feel that we should have a proper family nucleus to own a flat.
Do you have any other suggestion?
I have no solution.

Please go find out whether you need to pay any resale levy if you apply a BTO with your spouse. And if yes, are you ok to pay for it , or will it be better to get a resale flat with spouse etc.

Do go and appeal to HDB, with your reasons, then MP letters etc.. You need to write in to appeal at least a few times before you get anywhere.

The HDB system is actually quite fair to most people. So you can't blame the system that it's not fair for your spouse etc.
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Old 13-06-2013, 02:16 AM   #34
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Yes i agree, fair to most people but not to those who are indirectly involved in divorced cases. Well, i feel that 5 years MOP is fine if there is new or addition of co-owner, but not logical if i need to fulfil a total of 13 years MOP in same flat with parent and not being eligible to own with my spouse. We might face some loan issue to purchase a bigger flat after i completed the MOP and the never ending cooling measures.
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Old 13-06-2013, 10:21 AM   #35
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Yes i agree, fair to most people but not to those who are indirectly involved in divorced cases. Well, i feel that 5 years MOP is fine if there is new or addition of co-owner, but not logical if i need to fulfil a total of 13 years MOP in same flat with parent and not being eligible to own with my spouse. We might face some loan issue to purchase a bigger flat after i completed the MOP and the never ending cooling measures.

Even for divorced cases, it is still fair. You had a choice of not putting your name in the flat with your mum. Only you didn't realise or are aware of the restriction at that time.
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Old 13-06-2013, 12:40 PM   #36
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Even for divorced cases, it is still fair. You had a choice of not putting your name in the flat with your mum. Only you didn't realise or are aware of the restriction at that time.

Er, some time the children have no choice but to add their name into the parents flat, else they would end up with no roof.

Cos 1 parent salary is not enough to service the monthly payment
.
Esp for divorce case or those who parents do not have money in their CPF OA.

They need to use the children’s CPF contribution or to secure a new loan.

That the harsh reality for the majority of Sporean.
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Old 13-06-2013, 12:44 PM   #37
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Yes i agree, fair to most people but not to those who are indirectly involved in divorced cases. Well, i feel that 5 years MOP is fine if there is new or addition of co-owner, but not logical if i need to fulfil a total of 13 years MOP in same flat with parent and not being eligible to own with my spouse. We might face some loan issue to purchase a bigger flat after i completed the MOP and the never ending cooling measures.
Go appeal

HDB housing rules are NEVER fair to divorce family, even those that have custody of the kids. They are also harsh on single parent.

In the eyes of GOV, u better be in the main stream if u want to be look after, anybody out of the “normal cycle” good luck!

Ma ciam these people did not pay tax.

I belong to this group, my parent divorce 20yrs back, so u could imagine the nightmare we face back than. 20 yrs down the road nothing much changes, still same policy.

Gov policy never keep up to times
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Old 13-06-2013, 12:54 PM   #38
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Er, some time the children have no choice but to add their name into the parents flat, else they would end up with no roof.

Cos 1 parent salary is not enough to service the monthly payment
.
Esp for divorce case or those who parents do not have money in their CPF OA.

They need to use the children’s CPF contribution or to secure a new loan.

That the harsh reality for the majority of Sporean.
Actually can pay mortgage in cash..nt necessary use cpf..
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Old 13-06-2013, 02:00 PM   #39
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Actually can pay mortgage in cash..nt necessary use cpf..

From my pt of view, that’s the dumbest thing to do. U will not see a penny of it ever.

Cold hard cash should be use to do investment, plan for yr retirement.

If u still think yr CPF can cover u for old age, u are in la la land n I wish u best of luck.
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Old 13-06-2013, 02:06 PM   #40
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From my pt of view, that’s the dumbest thing to do. U will not see a penny of it ever.

Cold hard cash should be use to do investment, plan for yr retirement.

If u still think yr CPF can cover u for old age, u are in la la land n I wish u best of luck.
There are pro n cons..at least u wont hve to face such situation. .
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Old 13-06-2013, 02:16 PM   #41
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From my pt of view, that’s the dumbest thing to do. U will not see a penny of it ever.

Cold hard cash should be use to do investment, plan for yr retirement.

If u still think yr CPF can cover u for old age, u are in la la land n I wish u best of luck.
There are situation when the monthly installment is not enough just by using the owner's cpf, and of course those staying inside the flat (children etc) who doesn't want to put their name into the flat have to use their cash to pay.

If their CPF is to be used, they have to be added as owners, and they have to take out their name when they want to purchase another flat with their future spouse, causing a lot of headache to the existing household.

I don't see it as being dumb, in fact it save them the future hassle of having to remove their name from the flat. I am sure many of those whose name was added to their parents' flat had a lot of problem trying to get another flat with their spouse now if they cant find enough parent's CPF or cash to buy over their CPF used.

Nobody is talking about using their CPF as retirement fund in this discussion.

-vinz

Last edited by vinz; 13-06-2013 at 02:18 PM..
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Old 13-06-2013, 04:43 PM   #42
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From my pt of view, that’s the dumbest thing to do. U will not see a penny of it ever.

Cold hard cash should be use to do investment, plan for yr retirement.

If u still think yr CPF can cover u for old age, u are in la la land n I wish u best of luck.
Dumb or not depends on individual's finance.
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Old 13-06-2013, 04:46 PM   #43
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Er, some time the children have no choice but to add their name into the parents flat, else they would end up with no roof.

Cos 1 parent salary is not enough to service the monthly payment
.
Esp for divorce case or those who parents do not have money in their CPF OA.

They need to use the children’s CPF contribution or to secure a new loan.

That the harsh reality for the majority of Sporean.
What's so unfair if cannot afford. If still want and drag in children, then there must be restriction.
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Old 14-06-2013, 02:25 AM   #44
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hey there. neeed some advise on a story:-

say my gf and i are planning to buy a house and get married within the next 3 years. but she's already an owner of a HDB and staying with her dad. the dad has no income so it's solely dependant on her.

in cases like this, is it possible for us to own 2 hdb? 1 transferred to her dad's ownership but she continues to help him pay, whilst the other is under our name? or is private really the only way out. unfortunately, we're rather stuck in the middle income group where condo's too pricey and on the verge of not qualifying for hdb anymore.
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Old 14-06-2013, 02:28 AM   #45
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1 qns guys, if my monthly payment comprises of 1 part CPF and 1 part cash. In future when I sell my flat, will I be able to take back whatever I had paid in cash, provided the property has appreciated jn value?
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