HDB Fully paid up ?

[computers70]

Just would like to find out more when you paid up for your HDB flat.
I can see from the threads many couples are paying in full for their flats before they hit 35. Do do see a trend that many are opting for bank loans instead of the traditional HDB loan.

 

[JuniorLion]

Just would like to find out more when you paid up for your HDB flat.
I can see from the threads many couples are paying in full for their flats before they hit 35. Do do see a trend that many are opting for bank loans instead of the traditional HDB loan.

My mum paid up her HDB flat when she was 59. I helped her to use her OA to pay off completely. But this is because it is actually her 2nd flat, which she bought when she was 45.

 

[flashover]

My parents just fully paid their hdb. Age 60

 

[cheongking888]

I fully paid up my HDB at age 45 (on the 10th year of the 30 year loan)

Now think about it, I regretted to pay up so early. Because of early payment, I miss many opportunities to use the money to buy other properties between 2008 to 2010.

 

[chiokcc]

What's wrong with paying up in full, especially if one uses CPF only?

 

[computers70]

I fully paid up my HDB at age 45 (on the 10th year of the 30 year loan)

Now think about it, I regretted to pay up so early. Because of early payment, I miss many opportunities to use the money to buy other properties between 2008 to 2010.

Not too late, still can consider.

 

[babyrobo]

What's wrong with paying up in full, especially if one uses CPF only?

Paid up using cpf considered fully paid? Or need to return cpf used then considered fully paid? Am new to the hdb purchase scene and would like more info tks!

 

[cheongking888]

Not too late, still can consider.

Now price is too high. Smelly smelly also $1,200 per ft2.

That time only $600 to 700. FH some more. Think back I really squeeze balls man.

 

[ocs_woodlands]

I fully paid up my HDB at age 45 (on the 10th year of the 30 year loan)

Now think about it, I regretted to pay up so early. Because of early payment, I miss many opportunities to use the money to buy other properties between 2008 to 2010.

I made the same mistake mainly because my Wife bugged me to pay up. She is that type who is scarred by her parents' financial mismanagement and must have a paid roof over the head before proceeding to other financial goals....

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[JuniorLion]

I fully paid up my HDB at age 45 (on the 10th year of the 30 year loan)

Now think about it, I regretted to pay up so early. Because of early payment, I miss many opportunities to use the money to buy other properties between 2008 to 2010.

If you could tell the future, then you'll be infinitely well-off if you know what to do. Or you may simply do nothing since you know you can't change the future.

 

[computers70]

Now price is too high. Smelly smelly also $1,200 per ft2.

That time only $600 to 700. FH some more. Think back I really squeeze balls man.

Very True, have to agree

 

[tiertime]

What's wrong with paying up in full, especially if one uses CPF only?

some ppl prefer not to fully pay even when they have the means as they want to use the cash for investments that will give them better returns , which is more than enough to cover the cpf interest

 

[chiokcc]

some ppl prefer not to fully pay even when they have the means as they want to use the cash for investments that will give them better returns , which is more than enough to cover the cpf interest

But CPF does not involve cash.

If you are paying the loan with cash, I agree it could be better invested.

 

[ixoral]

I see your point too. If paying purely using CPF, just follow the loan tenure as committed. I guess what the rest meant is on top of their regular cpf deduction for housing, they probably also top up with cash as and when they can to clear off the loan faster.

But CPF does not involve cash.

If you are paying the loan with cash, I agree it could be better invested.

 

[Maeda_Toshiie]

But CPF does not involve cash.

If you are paying the loan with cash, I agree it could be better invested.

CPF OA monies can be invested too.

 

[henrylbh]

But CPF does not involve cash.

If you are paying the loan with cash, I agree it could be better invested.

My CPF is enough to pay off the loan. But I don't mind paying loan interest as the interest I earn from CPF is more. Depending on situation, sometimes I would use cash to pay the loan instead of using CPF.

 

[chiokcc]

If your loan is from CPF, might be better to pay it off as loan interest as 0.1% pa higher.

Of course, if loan is from bank and interest rate is lower than CPF, no rush....

 

[wahkao3]

Paid up using cpf considered fully paid? Or need to return cpf used then considered fully paid? Am new to the hdb purchase scene and would like more info tks!

must return to CPF then considered fully paid

 

[wahkao3]

cheongking888 wrote:
I fully paid up my HDB at age 45 (on the 10th year of the 30 year loan)

Now think about it, I regretted to pay up so early. Because of early payment, I miss many opportunities to use the money to buy other properties between 2008 to 2010.

on hindsight its the wrong move, but on fore sight how to tell? Would you have known in 2008 that you can use the money to invest? The whole financial world is crashing down

 

[yoongmy]

basically the total interest for mortgage loan would be CPF interest + Bank loan interest (assuming loan from bank and service loan by CPF) 2.5% + 1.7% = 4.2%
investment can easily beat 4.2%??