How HDB dwellers upgrade to condo without selling flat first ?

[sk0065]

Hdb buy EC where need to pay absd?

 

[Broadwalk]

Sinkies are cash rich, no such problems..

To put into perspective, a HDB upgrader needs to cough out 680k cash upfront for a 1.7mil project. That's a lot of cashflow within the 8-16 weeks. This is also when the HDB upgrader getting a 80% loan. We have not consider the TDSR and LTV challenge yet.

 

[Broadwalk]

Hdb buy EC where need to pay absd?

They say no need pay ABSD until you are about to get EC key/TOP?

 

[focus1974]

if you don't have $255k savings (cash and OA cpf combined) .. you shouldn't be looking at $1.5m property..

I seem so many people , buy property , no money renovate nicely or buy proper furniture ..

and they call it a home

or people buy condo , cannot afford to buy monthly conservancy .. every year AGM , you know who didn't pay cause not eligible to vote.

Read HWZ Forum Rules!

I buy new property.. I dont even renovate .. i just buy furniture and moved in.
and then the furnitures are bought as time goes by .. .. growing the home organically ..

experience with renovation is .. after renovation, feel shiok 1 month niao..

 

[focus1974]

I got neighbours here at my BTO after MOP sell and then rent waiting for their condo to complete building. E.g. 1 of them the condo another 2 years then complete, he rent for the 2 years also cheaper than paying ABSD.

But timing must be correct..
dont rent liao .. take own sweet time buy property.... later property prices moved beyond his affordability and can only buy smaller unit.. end up self pwn.

 

[Egg Tart 33]

That's the dilemma. Sell off hdb then cannot find suitable condo buy how?

Obviously u will buy the condo first before u decide to sell your existing HDB right...

 

[Broadwalk]

Obviously u will buy the condo first before u decide to sell your existing HDB right...

If go by the obvious route, that's where the ABSD is choking off.

 

[slumkia]

Month incum 2k+
Age mid 40s bbfa.Current 3rm flat Valuation 400k fully paid.
Should bai new 1bedder condom or ec?

Asking for friend.

 

[Llfeisgood]

Month incum 2k+
Age mid 40s bbfa.Current 3rm flat Valuation 400k fully paid.
Should bai new 1bedder condom or ec?

Asking for friend.

2k/mth your loan amount is sufficient to pay for downpayment (5% + 15%) assuming EC/1bedroom cause 1.4 million. (70k + 210k) and installments thereafter?

 

[buttbERry]

rich people

 

[chickenpiez007]

You all know I study RES course, so I have this question in mind.
Now the ABSD has increased to 17% for 2nd property for Singapore citizens.

So, when you all HDB dwellers want to upgrade to EC, condo or landed, you guys will charged with ABSD. But ABSD for a condo let say on average is 1.5mil will be 255k onwards.

My question is how you HDB dwellers manage to cough out so much money for ABSD and seeking remission or you guys have to sell first then look for condo huh? How is this ABSD influence your decision and approach in upgrading your home?

you ask this question means you haven't go for the RES course and/or take the exam.....

 

[slumkia]

2k/mth your loan amount is sufficient to pay for downpayment (5% + 15%) assuming EC/1bedroom cause 1.4 million. (70k + 210k) and installments thereafter?

1bedrm need 1.4m?
Notch 500-600k?

 

[Broadwalk]

1bedrm need 1.4m?
Notch 500-600k?

Now no more cheap cheap already.

 

[Laneige]

You all know I study RES course, so I have this question in mind.
Now the ABSD has increased to 17% for 2nd property for Singapore citizens.

So, when you all HDB dwellers want to upgrade to EC, condo or landed, you guys will charged with ABSD. But ABSD for a condo let say on average is 1.5mil will be 255k onwards.

My question is how you HDB dwellers manage to cough out so much money for ABSD and seeking remission or you guys have to sell first then look for condo huh? How is this ABSD influence your decision and approach in upgrading your home?

Save la
Just save lo
Or some they v gd investment so use the money

but really must have a lot of cash n cpf
I think easily 1mil aside if want to buy 2mil kind liao lo

 

[Laneige]

they have CPF after setting aside enough BSD. this is usually when they are pay for their cheaper HDB flat by cash all the time

they have cash because they are not spendthrift

their agents help them calculate on how to make back the ABSD with rental income from HDB

you must learn how to sell in such situations

How come got rental income in this situation?