Housing Dilemma

[kyteo79]

be a lawyer or doctor
iirc once grad around $5k
1st 5 years increment app 10%
can hit 8k in 5th year
and thats average

i seen 4th year earning 10k+ too

I hearsay jap porn star can also ...

 

[JX1983]

I would reckon you should apply and get your queue to choose the BTO then you start to sell ...

Now market not oo good so selling is not good option.

All the best.

Tried the last round already in 1 of the place I wanted but due to 2nd timer I guess totally no chance to get a queue. Next round won't have the place I wanted. Ya u can said I am choosy though.. i rather pay the 30k levy to get the place I like rather than paying to get the place I doesn't like staying in.

 

[kyteo79]

Tried the last round already in 1 of the place I wanted but due to 2nd timer I guess totally no chance to get a queue. Next round won't have the place I wanted. Ya u can said I am choosy though.. i rather pay the 30k levy to get the place I like rather than paying to get the place I doesn't like staying in.

wana make money need to queue.

wana your ideal location lagi need to queue longer ...

so if sell now how to wait outside ? rent is cheap though...

 

[Motexh]

Hi, first, thank you in advance for the helpful comments/suggestions that you may provide.

About us


I am 28 years old, and she's 27 years old. We are aiming to get married before she turns 30. In other words, within the next 3 years or so. We are open to staying at one of our parents' place for a year to a year and a half after marriage at most.

Issue 1 - How are we assessed for grants?

We are currently both full time students, save to say, we have no real income nor any savings in our CPF accounts. Any purchase will be largely dependent on grants, if we are eligible in the first place. However, we are not that sure whether we are even eligible for the grants, AHG, SHG and whatnots.

We have never had full time employment, but I've been running a photography sideline but I've never earned more than a few hundred bucks a month. I've been running this sideline through a sole proprietorship that I registered only late last year despite having engaged in the business for a couple of years.

In such circumstances, will we be eligible for any grants say for the upcoming BTO window in may/june? If not, when, if ever, will we be eligible for the grants?

Issue 2 - BTO or EC?

We will be graduating in about june/july 2018. We have secured jobs and our estimated combined income starting in October 2018 will be about $7000 take home pay. Reviewing the pay schemes of our industry, we are projected to secure a combined take home pay of $10,000 by 2021, if not earlier.

In such circumstances, should we go for a BTO, which will take a good 3-4 years to complete at the minimum, or should we go for an EC, where we have to save diligently to afford the DP sometime in 2019/2020?

Issue 3 - Financial payments

How do we secure a HDB/Bank loan, will they assess our income at the point of booking our flat, exercising the OTP or when collecting the keys? Also, when do we need to pay the remainder of the downpayment in cash, where not already offset by any grants that we might receive?

Bearing in mind, of course, that there's other miscellaneous fees that have to be paid in cash such as stamp duty, etc.

Thank you all again, for going through this rather lengthy post. Will appreciate any comments or answers that you might have

TS finishing your MBBS? Seems like it from age and the school fees unless you took an unconventional path.

BTO would make more sense, assuming lady luck blesses you with a good ballot. Don't waste the free money that you get from the Singapore government and get a BTO if you qualify for this.

 

[kyteo79]

TS finishing your MBBS? Seems like it from age and the school fees unless you took an unconventional path.

BTO would make more sense, assuming lady luck blesses you with a good ballot. Don't waste the free money that you get from the Singapore government and get a BTO if you qualify for this.

I await his good news.

 

[kyteo79]

if u die die want these 2 u mentioned, quite hard for u to ballot a BTO.

there are some who are like u, ballot up to 20 times, which is potentially 5 years

then u will look at your peers, they max, ballot, 3-4 times, within a year or 2, got their beautiful home in places like punggol or woodlands or buangkok.

then by then u will turn desperate.

What if housing rules change that time?

I think u really need to weigh your options carefully. the BTO selection can humble many lofty thinking couples.

but then there is also a luck element ba.

pm me after u get you may 2017 bto results lor. hope u get a good number

Today 15 may liao ...

When will know huh ?

 

[kyteo79]

ok, will pm you when July comes.

any good boh this month ?

 

[justforipad]

if u die die want these 2 u mentioned, quite hard for u to ballot a BTO.

there are some who are like u, ballot up to 20 times, which is potentially 5 years

then u will look at your peers, they max, ballot, 3-4 times, within a year or 2, got their beautiful home in places like punggol or woodlands or buangkok.

then by then u will turn desperate.

What if housing rules change that time?

I think u really need to weigh your options carefully. the BTO selection can humble many lofty thinking couples.

but then there is also a luck element ba.

pm me after u get you may 2017 bto results lor. hope u get a good number

Just applied for this window, will let you know the results when it's out! Chances seem better than previous windows as well. Keeping our fingers crossed.

 

[ussr_1991]

I dun quite understand.

After all, to me, I just find that anyone with > 6k income apply for BTO is quite stupid.

1: Lesse VS Strata Title, despite both 99 years
2: Once you have more than $6k, your total grant is only SHG of $30,000 (On the dot $6,000) and $25,000 ($6,001 to $6,500)

For TS case: if they have employment letter that states their salary as $7,000, then they get a total of $20,000 PROVIDED they stay in a 4-Room Flat (90sqm) that usually cost $300,000 and upwards (Except Woodlands where lowest is about $250,000).

If they buy a 3 room Flat, then they will highly likely need to buy in mature location without any SHG.

Disclaimer: Sometimes it is possible to have non-mature estates to sell 3 room with higher income ceiling.

But one would necessary question if a 3 room BTO in estates like Sengkang, Punggol or CCK should worth on par with those lower-priced 3 room in Tampines, Ang Mo Kio or not.


AHG is simply not applicable for anyone whose earnings is more than $5,000.

EC, you get $30,000 grant if within $10,000 monthly income but bank loan only. Similarly, HDB loan only allow people to have income up to $8,000.


3: EC, like condo, can just move in with minomal renovation.
BTO, you need to do quite a bit of reno and this industry along with Travel are the ones with bad reputation of highest complaints with reno contractors run road after collecting deposits.

4: Why spend so much on Wedding Dinner?
HoneyMoon, Gowns, Ring and most importantly Photographs cannot be saved.

But I just dun find it justifiable to invite all the not so close friends just to hold a $30,000 dinner when I can just reserve a few tables for immediate family member (Parents, Siblings) and the BFFs which should never cost more than $10,000.


5: Kids is money loser. I worry my kids stressed and commit suicide in their teens, thus all the expenditure on kids are wasted.

TLDR: Get 2 bedder EC in non-mature estate.

 

[vangelis]

I dunno what's in your mind. Likely a produce of a meritocracy society. Is that your only aim in life?? Must have been a tough time being your spouse.

I dun quite understand.

After all, to me, I just find that anyone with > 6k income apply for BTO is quite stupid.

1: Lesse VS Strata Title, despite both 99 years
2: Once you have more than $6k, your total grant is only SHG of $30,000 (On the dot $6,000) and $25,000 ($6,001 to $6,500)

For TS case: if they have employment letter that states their salary as $7,000, then they get a total of $20,000 PROVIDED they stay in a 4-Room Flat (90sqm) that usually cost $300,000 and upwards (Except Woodlands where lowest is about $250,000).

If they buy a 3 room Flat, then they will highly likely need to buy in mature location without any SHG.

Disclaimer: Sometimes it is possible to have non-mature estates to sell 3 room with higher income ceiling.

But one would necessary question if a 3 room BTO in estates like Sengkang, Punggol or CCK should worth on par with those lower-priced 3 room in Tampines, Ang Mo Kio or not.


AHG is simply not applicable for anyone whose earnings is more than $5,000.

EC, you get $30,000 grant if within $10,000 monthly income but bank loan only. Similarly, HDB loan only allow people to have income up to $8,000.


3: EC, like condo, can just move in with minomal renovation.
BTO, you need to do quite a bit of reno and this industry along with Travel are the ones with bad reputation of highest complaints with reno contractors run road after collecting deposits.

4: Why spend so much on Wedding Dinner?
HoneyMoon, Gowns, Ring and most importantly Photographs cannot be saved.

But I just dun find it justifiable to invite all the not so close friends just to hold a $30,000 dinner when I can just reserve a few tables for immediate family member (Parents, Siblings) and the BFFs which should never cost more than $10,000.


5: Kids is money loser. I worry my kids stressed and commit suicide in their teens, thus all the expenditure on kids are wasted.

TLDR: Get 2 bedder EC in non-mature estate.

 

[ussr_1991]

Lol.. I bet your mum had regretted having you.. Wasted so much of her resources.

I dunno what's in your mind. Likely a produce of a meritocracy society. Is that your only aim in life?? Must have been a tough time being your spouse.

Whats wrong wif u?

Is it a sin not to have any children apart of religious committments?

Anyway, getting EC is a obvious better choice esp if u are an animal lover because HDB restrict the dog breed type and no cats allowed (Other than some upspoken race privillege).

EC no such restriction. If TS is not Chinese, getting EC is easier due to no racial quota imposed by HDB.


Condo is a necessity anyway.

 

[henrylbh]

I hearsay jap porn star can also ...

Ha ha no need porn star. Even a masseuse can consistently earning 7.5k fortnightly and that was many years ago.

 

[kyteo79]

Just applied for this window, will let you know the results when it's out! Chances seem better than previous windows as well. Keeping our fingers crossed.

congrats .... wish you heng heng ...

 

[kyteo79]

Ha ha no need porn star. Even a masseuse can consistently earning 7.5k fortnightly and that was many years ago.

i send u my resume ... see i can do masseuse part time or not ?

i wana be like TS .... (if i can turn back the clock) ...

 

[henrylbh]

i send u my resume ... see i can do masseuse part time or not ?

i wana be like TS .... (if i can turn back the clock) ...

For the start, stand at end of Changi Point and assess whether viable for the next step

 

[kyteo79]

For the start, stand at end of Changi Point and assess whether viable for the next step

I go every weekend ...

alot of cars ... no parking ... can you see my attractiveness ? wahahaha ...

Anyway ... lets focus on TS ... he is the super star ... 3.5k take home and headhunted ...

Now lets await his good news ...

 

[JX1983]

Just saw your thread Ts, I would said since u are 1st timer my advise is this is your only chance for u to get a good bto flat and hopefully u are lucky. don't waste your 1st timer chance. 2nd timer then go for EC because chances are unlikely u get your ideal place if u go for bto.

 

[cherryblossoms]

Nothing good in feb bto, going for the may bto instead.

hi TS do keep us updated.

reading some of the posts here really gave me cancer. just ignore people like kyteo79 will do. or u can move your thread to other forum with lesser cancerous people.

thought im in edmw for a moment

 

[kyteo79]

hi TS do keep us updated.

reading some of the posts here really gave me cancer. just ignore people like kyteo79 will do. or u can move your thread to other forum with lesser cancerous people.

thought im in edmw for a moment

Just ignore my comments ... Cheers

 

[justforipad]

hi TS do keep us updated.

reading some of the posts here really gave me cancer. just ignore people like kyteo79 will do. or u can move your thread to other forum with lesser cancerous people.

thought im in edmw for a moment

he's already on my ignore list