HDB Essential-Occupiers Scheme

[sgpropertyblog]

Can a married couple, both age 35, sell their bto, then buy a hdb under single scheme or family nucleus wife n kid, then husband buy condo to avoid absd?

Don't think its workable in that sense anymore, as in,HDB don't allow married husband & wife to buy without the other parties' name.. at least must be the essential occupier.. and also subjected to 5years MOP before can purchase a second property..

 

[Pokémon]

Can a married couple, both age 35, sell their bto, then buy a hdb under single scheme or family nucleus wife n kid, then husband buy condo to avoid absd?

Possible, just need to become the ex-husband.

 

[Polar Bear King]

Put aunty polar as sole owner, then you as occupier

Back then no loan how to buy cityview?
Won’t work so easily lar
Whoever can exploit this loophole is 0.01% just a handful

 

[Polar Bear King]

Can a married couple, both age 35, sell their bto, then buy a hdb under single scheme or family nucleus wife n kid, then husband buy condo to avoid absd?

Can but your ballot priority very low
Most likely lose to real couples first timer

 

[Sinkie]

Can but your ballot priority very low
Most likely lose to real couples first timer

Buy resales no need ballot, possible?

 

[glorfindel]

Don’t think it can work
Like that I could use my own name to apply and put aunty polar as essential occupier
I thought HDB require a family nucleus to apply or singles above 35

Why don’t we look at how to sell 1 HDB buy 2 EC instead?

Confirm can be done. In fact that is what I'm doing now. Even before this blogpost came out.

 

[glorfindel]

Can a married couple, both age 35, sell their bto, then buy a hdb under single scheme or family nucleus wife n kid, then husband buy condo to avoid absd?

Not possible. HDB rules, married couple must form a family unit together. Unless you divorce then yes, possible.

 

[light84]

Can a married couple, both age 35, sell their bto, then buy a hdb under single scheme or family nucleus wife n kid, then husband buy condo to avoid absd?

Yes it is possible. Sell your bto for some profit and buy a resale flat under single owner+essential occupier. Remaining $$ buy condo under the essential occupier name after MOP of resale flat.

It is not a loophole because there are many disadvantages

Hassle of moving house and renovating resale flat

Need tan ku ku cos resale flat MOP

Both need to have high income for themselves individually to do this, otherwise cannot get enough loan, u think 1 person can loan 1M based on 10k income by bank now ?

Psychologically difficult cos one person got no holding in the flat they staying, any quarrel, owner can kick the essential occupier or spouse out legally.



Last time can decouple is a lot easier, it is just paper work and pay Gahmen some $$ like their stamping and legal fees. Dun have to move house or whatsoever.

 

[Sinkie]

Psychologically difficult cos one person got no holding in the flat they staying, any quarrel, owner can kick the essential occupier or spouse out legally.


.

For the whole thing to work, the couple must have trust with each another, but If no trust why marry In the first place?

 

[glorfindel]

Yes it is possible. Sell your bto for some profit and buy a resale flat under single owner+essential occupier. Remaining $$ buy condo under the essential occupier name after MOP of resale flat.


It is not a loophole because there are many disadvantages

Hassle of moving house and renovating resale flat

Need tan ku ku cos resale flat MOP

Both need to have high income for themselves individually to do this, otherwise cannot get enough loan, u think 1 person can loan 1M based on 10k income by bank now ?

Psychologically difficult cos one person got no holding in the flat they staying, any quarrel, owner can kick the essential occupier or spouse out legally.



Last time can decouple is a lot easier, it is just paper work and pay Gahmen some $$ like their stamping and legal fees. Dun have to move house or whatsoever.

Not possible. HDB don't allow married couple to buy as single. The spouse has to be essential occupier then cannot buy condo.

 

[Polar Bear King]

For the whole thing to work, the couple must have trust with each another, but If no trust why marry In the first place?

Yar trust enough just go through divorce on paper also can
As Long as hearts don’t change everything can be done
It’s a matter of what admin trouble to go through only

Actually once BTO paid off can just divorce empty out a name to buy another resale to rent out also can

 

[Pokémon]

Not possible. HDB don't allow married couple to buy as single. The spouse has to be essential occupier then cannot buy condo.

If based on TS' question of buying as single scheme, then no, but can be done through the Public Scheme for BTO, or resale.

The spouse listed as essential occupier can only buy a condo after the 5 Year MOP.

 

[Sinkie]

Yar trust enough just go through divorce on paper also can
As Long as hearts don’t change everything can be done
It’s a matter of what admin trouble to go through only

Actually once BTO paid off can just divorce empty out a name to buy another resale to rent out also can

That is when they really really want to decouple just to buy avoid absd.

 

[Polar Bear King]

Confirm can be done. In fact that is what I'm doing now. Even before this blogpost came out.

can share your exact planning and budgeting?
and what are you next steps like how to decouple how to expand?
what savings do you achieve in the end except the ABSD for 2nd property?

 

[Polar Bear King]

Does anyone know more information about it?

HDB's website doesn't seem to have much information regarding it.

Basically with this scheme a couple can avoid ABSD when MOP is up?

sorry TS i mistook you as my team member cos you have the same white owl as him

 

[stillgottheblues]

Aliens don't leech on sinkie land go back!

 

[Polar Bear King]

Both need to have high income for themselves individually to do this, otherwise cannot get enough loan, u think 1 person can loan 1M based on 10k income by bank now ?

for now $10k salary 1 person can afford a $1M flat so max loan $750k lor

if both heads $10k salary each then can easily each pays $300k buy $1M flat with tax then loan $750k to repay........but then again rental market in SG not very profitable lar I won't consider even i could split $16k salary for aunty polar

 

[MrBoxySquare]

If i buy a hdb flat with my partner as an essential occupier, for some reason if next time i want to add her name into the flat, can I do so? If yes, what are the fees involved?

 

[light84]

Not possible. HDB don't allow married couple to buy as single. The spouse has to be essential occupier then cannot buy condo.

Can lah as long as couple is married but buy as owner-essential occupier under married scheme, u call H dee bee to ask. My ah gong said so.

Single of cos cannot. Bbfa cannot.

 

[light84]

for now $10k salary 1 person can afford a $1M flat so max loan $750k lor

if both heads $10k salary each then can easily each pays $300k buy $1M flat with tax then loan $750k to repay........but then again rental market in SG not very profitable lar I won't consider even i could split $16k salary for aunty polar

Before COVID yes, after COVID I dun think so cos bank will tighten credit. Their non performing loan increasing wor.

Bank borrow u umbrella when sunny and take away umbrella when raining.