Housing Dilemma

[kyteo79]

wow this thread is still ongoing

ts didn't mention anything about his family background. What if his family has a 9 figure net worth? Then this argument is pointless.

it is possible ..

then why need an bto ? why need grant xia ?

 

[kyteo79]

Can see why u remain single. Good for u.

They have every right to apply for grants now because they are eligible. Our current government advocates early family planning, it is not easy for young couples to start a family in Singapore, especially so for undergraduates. I don't see anything wrong in them applying for grants to secure their matrimonial home.

It's great that they see their future career in a positive light. Whether they get their projected increment or not will not affect u. Why r u shooting them down with ur jaded comments? Hope and optimism is what we need in this cynical society.

I don't know why u find the need to attack people who think differently from u. I am not against ur comments but I do hope that u can put them across more positively. It will definitely make the cyber world a better place

You are deadly right ... Hope & realistic is very different aspect in life.
Hope you know what is hope and what is realistic. If mixing both together very easy go to bedok reservoir ...

I wish you good luck in cck and your new EC ... of course your job ...

 

[kyteo79]

at least Adjacent angle know cck and sembawang is realistic ...

TS is baddari central locations ...

TS thumbs up ... wish you huart... get your dream house and headhunted again and again then till you own sixth avenue bungalow.

Show us your photoshot leh ...

 

[justforipad]

Can see why u remain single. Good for u.

They have every right to apply for grants now because they are eligible. Our current government advocates early family planning, it is not easy for young couples to start a family in Singapore, especially so for undergraduates. I don't see anything wrong in them applying for grants to secure their matrimonial home.

It's great that they see their future career in a positive light. Whether they get their projected increment or not will not affect u. Why r u shooting them down with ur jaded comments? Hope and optimism is what we need in this cynical society.

I don't know why u find the need to attack people who think differently from u. I am not against ur comments but I do hope that u can put them across more positively. It will definitely make the cyber world a better place

Ts, take the naysayers here with a pinch of salt. At where you are now just entering the workforce, the financial honeymoon period is the best time to take risks. For the majority of us, the salary increments in the first few years are fixed as the otj training and hands on gives us the highest increase in productivity. At our age, it is appropriate to aim higher. But always give yourself abit of breathing space for any contingencies.

thank you both, right now I'm just waiting for the launch in May/June and see if I'll get lucky.

To the others in similar positions as myself, you will be glad to know the following information that I have sourced from a consultation with HDB yesterday.

1. For self-employed people, ie. sole proprietorships. You will need two things to qualify for the grant. First, the ACRA certificate of registration that you can buy from ACRA for a small amount of money. The certificate should demonstrate that you have been in business for at least a year, the prevailing twelve calendar months prior to selection of flat. Second, you will need the notice of assessment from IRAS to certify that you have been indeed receiving an income for the same period.

2. Assessment of grant is at the point of selection of flat. If you are going for HDB loan, most of the time they will give you a preliminary eligibility letter so that you can select and book your flat. The assessment of the loan eligibility proper and the quantum is decided at the point of receiving your keys.

And finally, it really doesn't matter how rich your family is. I've confirmed that my family's wealth and income will not matter in their assessment of loan and grant.

 

[Yevin227]

thank you both, right now I'm just waiting for the launch in May/June and see if I'll get lucky.

To the others in similar positions as myself, you will be glad to know the following information that I have sourced from a consultation with HDB yesterday.

1. For self-employed people, ie. sole proprietorships. You will need two things to qualify for the grant. First, the ACRA certificate of registration that you can buy from ACRA for a small amount of money. The certificate should demonstrate that you have been in business for at least a year, the prevailing twelve calendar months prior to selection of flat. Second, you will need the notice of assessment from IRAS to certify that you have been indeed receiving an income for the same period.

2. Assessment of grant is at the point of selection of flat. If you are going for HDB loan, most of the time they will give you a preliminary eligibility letter so that you can select and book your flat. The assessment of the loan eligibility proper and the quantum is decided at the point of receiving your keys.

And finally, it really doesn't matter how rich your family is. I've confirmed that my family's wealth and income will not matter in their assessment of loan and grant.

Good to know! Thanks for the info.

However, you should already have the business ACRA profile when you registered the business, no? Only outsiders who wants to view your profile have to buy them from the ACRA portal.

Yes, the preliminary letter is just to ensure that you can book a flat. The final loan amount's determination will still be subjected to another review once you collect your keys.

Of course - you're buying the flat and taking the loan, not your family, right?

 

[iphone1s]

TS, as you have mentioned right that you will be trying your luck this coming May 2017.

The ballot system have humbled many applicants here to the point of frustration, anger and nothing pleasant. TBH, regardless you having a paid a million dollars a second, or you are jobless. Go through the ballot first. I sincerely hope that you will get your desired unit at the first try.

Many have ballot and did not get a number within range. Some who get a number are lousy number. When it's their turn, they have only the choice of low level units facing main roads, ESS or main refuse chute. Some even have numbers which shines a ray of hope, but a day before their selection, they recieve a sms from HDB that all the flats have been snapped up.

With such rejections and the frequency of ballots, they would have made a decision to go for resale. I am sure you know the many disadvantages of resale units despite the grants. Can they go on for one more ballot? Perhaps they could get a good number. Perhaps perhaps perhaps.

All I can say is, put your plans aside until you have identified and confirm that you can book the unit you want. Or else, nothing matters, not even your plans.

Every missed ballot feels like a miscarriage. If any one from HDB is reading this, I am sure he/she is feeling so proud that the system they have created brought the young people to their knees at the expense of the country's birth rate.

I guess, as someone who have been battered by the HDB system, hope that you would learn from my experience.

Peace.

 

[kyteo79]

TS, as you have mentioned right that you will be trying your luck this coming May 2017.

The ballot system have humbled many applicants here to the point of frustration, anger and nothing pleasant. TBH, regardless you having a paid a million dollars a second, or you are jobless. Go through the ballot first. I sincerely hope that you will get your desired unit at the first try.

Many have ballot and did not get a number within range. Some who get a number are lousy number. When it's their turn, they have only the choice of low level units facing main roads, ESS or main refuse chute. Some even have numbers which shines a ray of hope, but a day before their selection, they recieve a sms from HDB that all the flats have been snapped up.

With such rejections and the frequency of ballots, they would have made a decision to go for resale. I am sure you know the many disadvantages of resale units despite the grants. Can they go on for one more ballot? Perhaps they could get a good number. Perhaps perhaps perhaps.

All I can say is, put your plans aside until you have identified and confirm that you can book the unit you want. Or else, nothing matters, not even your plans.

Every missed ballot feels like a miscarriage. If any one from HDB is reading this, I am sure he/she is feeling so proud that the system they have created brought the young people to their knees at the expense of the country's birth rate.

I guess, as someone who have been battered by the HDB system, hope that you would learn from my experience.

Peace.

Dun waste time boss.

Join me go direct resale. i waited from 29 yr old till last year. 2 Elections passed also no point. Seen friends resign left the industry for 2 years before coming back ..

if you are high nett worth no point to join the masses. we can create our own destiny. However still i sincerely wish you luck if you still believe in the system.

 

[master_chief117]

thank you both, right now I'm just waiting for the launch in May/June and see if I'll get lucky.

To the others in similar positions as myself, you will be glad to know the following information that I have sourced from a consultation with HDB yesterday.

1. For self-employed people, ie. sole proprietorships. You will need two things to qualify for the grant. First, the ACRA certificate of registration that you can buy from ACRA for a small amount of money. The certificate should demonstrate that you have been in business for at least a year, the prevailing twelve calendar months prior to selection of flat. Second, you will need the notice of assessment from IRAS to certify that you have been indeed receiving an income for the same period.

2. Assessment of grant is at the point of selection of flat. If you are going for HDB loan, most of the time they will give you a preliminary eligibility letter so that you can select and book your flat. The assessment of the loan eligibility proper and the quantum is decided at the point of receiving your keys.

And finally, it really doesn't matter how rich your family is. I've confirmed that my family's wealth and income will not matter in their assessment of loan and grant.

Well, your family's wealth and income does not matter in assessment of the grant, but it will certainly help in your downpayment, be it whether if you are going for EC or HDB. If your parents can afford it comfortably (and still have cash to spare), why not get them to settle the downpayment for you and pay it back as you work? Just make sure you pay them back. Paying your parents beats paying the gov a loan with double interest.

If my above assumption is wrong (that your parents can't help you with the downpayment), then I strongly encourage you within these few years to keep whacking the BTO sales launch. Really - you can have all these grand plans for you and your GF's future but nothing (not even the grant) is set in stone until you get lucky after spending enough $10 on that dammed queue number.

Having said that, all the information various peeps have provided here is quite useless until July 2019 at least - if you are talking about getting a grant based on your monthly income (and not your business) because one of the requirement is either of you have to be continuously employed for a course of 12 months. (since you mentioned you will start work in July 2018).

Which then brings me to my next point. I am not sure if it is possible to get a grant based on income from a side business. You should be more informed as per your last post in this thread, although i think it is unlikely as I assume your income from that business is not:

1. Stable
2. Not high enough

Which then means you the issue of the grant only comes into the scenario when you have started working for 12 months and have a flat booked.

But lets look at the grants eligibility again. Since you mentioned your combined income will be $7000, you will not be eligible for AHG as income cap is $5,000.

Correspondingly, for the SHG, you will only qualify if you are looking at 2 to 4 room flats in non-mature areas. Therefore you have to take into consideration when apply for the sales launches.

Honestly i think there is a good chance that you will take a few years to hit the jackpot for the queue number and by then your income might already exceed the cap for the SHG which is $8,500 lol.

Basically, if your parents can afford, get their help for the downpayment Either that your're screwed like all other middle income Singaporeans. If no parents help, don't get the EC. You are just screwing yourself more.

 

[kyteo79]

Well, your family's wealth and income does not matter in assessment of the grant, but it will certainly help in your downpayment, be it whether if you are going for EC or HDB. If your parents can afford it comfortably (and still have cash to spare), why not get them to settle the downpayment for you and pay it back as you work? Just make sure you pay them back. Paying your parents beats paying the gov a loan with double interest.

If my above assumption is wrong (that your parents can't help you with the downpayment), then I strongly encourage you within these few years to keep whacking the BTO sales launch. Really - you can have all these grand plans for you and your GF's future but nothing (not even the grant) is set in stone until you get lucky after spending enough $10 on that dammed queue number.

Having said that, all the information various peeps have provided here is quite useless until July 2019 at least - if you are talking about getting a grant based on your monthly income (and not your business) because one of the requirement is either of you have to be continuously employed for a course of 12 months. (since you mentioned you will start work in July 2018).

Which then brings me to my next point. I am not sure if it is possible to get a grant based on income from a side business. You should be more informed as per your last post in this thread, although i think it is unlikely as I assume your income from that business is not:

1. Stable
2. Not high enough

Which then means you the issue of the grant only comes into the scenario when you have started working for 12 months and have a flat booked.

But lets look at the grants eligibility again. Since you mentioned your combined income will be $7000, you will not be eligible for AHG as income cap is $5,000.

Correspondingly, for the SHG, you will only qualify if you are looking at 2 to 4 room flats in non-mature areas. Therefore you have to take into consideration when apply for the sales launches.

Honestly i think there is a good chance that you will take a few years to hit the jackpot for the queue number and by then your income might already exceed the cap for the SHG which is $8,500 lol.

Basically, if your parents can afford, get their help for the downpayment Either that your're screwed like all other middle income Singaporeans. If no parents help, don't get the EC. You are just screwing yourself more.

He already said ... He & GF will get 7,000 + 15% increment per year.
He need no help from Parents. He wana cheong for max grant.

Max grant means must stay near parents ?

Max grants means he is not financially sound.

Like what many forum-ers said... encourage him to go for BTO, encourage him to be positive, dun warn him of pitfalls.

I have seen HDB with Porsche 911 GT3 RS ... maybe that guy with housing grant also.. maybe .. i dunno ..

 

[iphone1s]

Well, your family's wealth and income does not matter in assessment of the grant, but it will certainly help in your downpayment, be it whether if you are going for EC or HDB. If your parents can afford it comfortably (and still have cash to spare), why not get them to settle the downpayment for you and pay it back as you work? Just make sure you pay them back. Paying your parents beats paying the gov a loan with double interest.

If my above assumption is wrong (that your parents can't help you with the downpayment), then I strongly encourage you within these few years to keep whacking the BTO sales launch. Really - you can have all these grand plans for you and your GF's future but nothing (not even the grant) is set in stone until you get lucky after spending enough $10 on that dammed queue number.

Having said that, all the information various peeps have provided here is quite useless until July 2019 at least - if you are talking about getting a grant based on your monthly income (and not your business) because one of the requirement is either of you have to be continuously employed for a course of 12 months. (since you mentioned you will start work in July 2018).

Which then brings me to my next point. I am not sure if it is possible to get a grant based on income from a side business. You should be more informed as per your last post in this thread, although i think it is unlikely as I assume your income from that business is not:

1. Stable
2. Not high enough

Which then means you the issue of the grant only comes into the scenario when you have started working for 12 months and have a flat booked.

But lets look at the grants eligibility again. Since you mentioned your combined income will be $7000, you will not be eligible for AHG as income cap is $5,000.

Correspondingly, for the SHG, you will only qualify if you are looking at 2 to 4 room flats in non-mature areas. Therefore you have to take into consideration when apply for the sales launches.

Honestly i think there is a good chance that you will take a few years to hit the jackpot for the queue number and by then your income might already exceed the cap for the SHG which is $8,500 lol.

Basically, if your parents can afford, get their help for the downpayment Either that your're screwed like all other middle income Singaporeans. If no parents help, don't get the EC. You are just screwing yourself more.

Beyond all these and thinking about grants, let justforipad get over the baptisim of the ballot system first. Maybe by the time they even get to smell a number, (I am not being sarcastic here but being true and honest here), the grant rules could have changed.

 

[iphone1s]

TS, I have nothing against you. Perhaps my interpretation could be wrong here.

Grants are meant for families who cannot fend for themselves. Some fathers and mothers work OT, to bring in a substantial amount which lures unwanted criticism but we never know what is happening behind the scenes, such as their family's plight.

Perhaps is the way that you have word your inquiry. Not that you need to please everyone here. But it seems like what you mentioned, a young lad, with $7,000 monthly income, a stable job with 15% increment is trying to squeeze every dollar from the grants. And to add fuel to the fire, you mentioned that with your salary projection, you are considering EC at the moment.

I think this was the tipping point.

There is no wrong in getting grants for Singaporeans. Let me be bold to even say that it is our birthright. To even justify that, there isn't any wrong to take things literal.

In every society, there are good, bad, poor, rich, helpless and resourceful individuals and families. The society at large is doing every best to help people who could not help themselves. Granted, there are people who wants to game the system.

Remember the news on parents driving Mercedes to community centres to take used text books which were meant for the not so fortunate? There is nothing wrong doing that. But I am sure you know how it feels

Go through the ballot first. Hope you get it at your first try. I will do my best to advise you once you get your number.

Peace.

 

[kyteo79]

TS, I have nothing against you. Perhaps my interpretation could be wrong here.

Grants are meant for families who cannot fend for themselves. Some fathers and mothers work OT, to bring in a substantial amount which lures unwanted criticism but we never know what is happening behind the scenes, such as their family's plight.

Perhaps is the way that you have word your inquiry. Not that you need to please everyone here. But it seems like what you mentioned, a young lad, with $7,000 monthly income, a stable job with 15% increment is trying to squeeze every dollar from the grants. And to add fuel to the fire, you mentioned that with your salary projection, you are considering EC at the moment.

I think this was the tipping point.

There is no wrong in getting grants for Singaporeans. Let me be bold to even say that it is our birthright. To even justify that, there isn't any wrong to take things literal.

In every society, there are good, bad, poor, rich, helpless and resourceful individuals and families. The society at large is doing every best to help people who could not help themselves. Granted, there are people who wants to game the system.

Remember the news on parents driving Mercedes to community centres to take used text books which were meant for the not so fortunate? There is nothing wrong doing that. But I am sure you know how it feels

Go through the ballot first. Hope you get it at your first try. I will do my best to advise you once you get your number.

Peace.

Peace peace peace ...

merc ? A B C ? E S ? Brabus ?

180, 200, 220, 300,400,500,45, 63 ?

++

What birthright ? i pay my taxes, i did everything i need to do as a pink IC. However i was denied. y ? because my income is many times of what TS projected however not projection but acutal. I only waited and never even put it in action as as a single already over over over the ceiling ...

yearly taxes are increasing but now stop increase taxes but what increase ? you guys know. grant, rebates, incentives you say it you have it ...

for me zero rebates but kana taxes taxes taxes ... for what ?

to support those really problems ? okie i willing support same blood pple but i detest people whom can say 7k TAKE HOME & 15% increase yearly but trying for EC and if cant BTO with max grant. Some more got sideline ...

As a legal or lawyer, trying to beat the system ... what have this society created ?

If you are poor and needy i offer you food and drinks with humanity and humble. If you come to me ask 5 dollar to take mrt home, with means to treat my kindness as stupidity, good luck to you.

End of the day, what you have, you cannot bring down... after surrender ic

 

[Ronaldo88]

If can get thru the loophole,gd for him..nxt time high pay,pay high taxes..

 

[trojanguy]

what if i won toto can i buy the whole flat in cash?

 

[iphone1s]

what if i won toto can i buy the whole flat in cash?

What if you didn't win?

 

[qhong61]

what if i won toto can i buy the whole flat in cash?

Why not???

 

[trojanguy]

Why not???

then solve issue already, win toto pls

 

[kyteo79]

If can get thru the loophole,gd for him..nxt time high pay,pay high taxes..

can run 1 red light, will want to beat the next red light ...

 

[kyteo79]

what if i won toto can i buy the whole flat in cash?

congrats ... remember to pay the tax.

No need grant

 

[Derlei09]

what if i won toto can i buy the whole flat in cash?

if i win toto.. i rather use the money to invest. the money i earn from interest/investment will be more than the amount i interest i have to pay to service the hdb loan