March BTO 2012

RedShoe

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no wonder hdb can sell at such ridiculous price, its because of the people willing to be CHOP by the system...the people are willing to accept the ridiculous price
HDB at sky high prices:
1)People go buy --> Khaw: Wow, demand so high means price is acceptable!
2)No people go buy -->Khaw: Wow, demand is satisfied, stop building BTOs!


So either way, sinkies are screwed.
 

Think09

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no wonder hdb can sell at such ridiculous price, its because of the people willing to be CHOP by the system...the people are willing to accept the ridiculous price

Maybe to them is cheap than resale by 100K.:D
 

powerpuff2007

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I not willing accept HDB ridiculous price, but have to neck stick out for big chop because no house all my life - wandering like nomad.

Many years of denied by MBT Ballot, I suddenly got 2 good strikes last Dawson sobf & last BTO. Unfortunately, due to uncertain economic times, both times when I got the good Q number, I also got news of my impending job loss, which threatens to reduce my income to zero. In Singapore, prospect poor for those over a certain age, no one will employ lah. This panic made me lose 1st timer chance. Now downgraded to 2nd timer = back to square one.

Root of problem remains HDB is unaffordable, if not, I needn't have given up 2-digit Q numbers. My case, in HDB's eye, public is fickle. But real reason is I wanted, needed the flat so much, but economic job situation in Singapore is harsh the older you become.

Now for March BTO I decide I will go for 2-roomer only, as only lower pay contract work available for those over certain age group. I was told that if I lose my part-time job altogether, for 2-roomer, I cannot rent 1 room & stay myself in living room, this is not allowed.

However, I can move overseas to work, then rent out whole 2-roomer.

I would also be allowed to register a home office in a 2-roomer (in case I jia kah kee).

But branch office sounds uncertain about both rules. I can't locate rules on website - very slow, too many rules, hard to find. Anyone with experience in 2-roomers?

2-roomer means I reach the depths of desperation already. I have to separate from my family, who is squeezing 7 to a pigeon hole as it is now, for the past decades. We can queue up for hours just to get a turn to use the toilet properly.

Past decade, I saved diligently towards my own hdb, but all of a sudden, the past years, cost of public housing escalated to reach the pricing of luxury housing. Now, my decades of struggling at many jobs, instead of able afford 3-room, 4-room, I now can only afford 2-room.
 

F3Rm1nat0r

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I not willing accept HDB ridiculous price, but have to neck stick out for big chop because no house all my life - wandering like nomad.

Many years of denied by MBT Ballot, I suddenly got 2 good strikes last Dawson sobf & last BTO. Unfortunately, due to uncertain economic times, both times when I got the good Q number, I also got news of my impending job loss, which threatens to reduce my income to zero. In Singapore, prospect poor for those over a certain age, no one will employ lah. This panic made me lose 1st timer chance. Now downgraded to 2nd timer = back to square one.

Root of problem remains HDB is unaffordable, if not, I needn't have given up 2-digit Q numbers. My case, in HDB's eye, public is fickle. But real reason is I wanted, needed the flat so much, but economic job situation in Singapore is harsh the older you become.

Now for March BTO I decide I will go for 2-roomer only, as only lower pay contract work available for those over certain age group. I was told that if I lose my part-time job altogether, for 2-roomer, I cannot rent 1 room & stay myself in living room, this is not allowed.

However, I can move overseas to work, then rent out whole 2-roomer.

I would also be allowed to register a home office in a 2-roomer (in case I jia kah kee).

But branch office sounds uncertain about both rules. I can't locate rules on website - very slow, too many rules, hard to find. Anyone with experience in 2-roomers?

2-roomer means I reach the depths of desperation already. I have to separate from my family, who is squeezing 7 to a pigeon hole as it is now, for the past decades. We can queue up for hours just to get a turn to use the toilet properly.

Past decade, I saved diligently towards my own hdb, but all of a sudden, the past years, cost of public housing escalated to reach the pricing of luxury housing. Now, my decades of struggling at many jobs, instead of able afford 3-room, 4-room, I now can only afford 2-room.
wah, i really sympathize with you man
good luck :(
 

HunterXtreme

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let say i loan 300K from hdb for 30yrs... interest is 2.6% = $7800 per year... 30yrs = total interest $234000, that means total is i pay $534000 for a 4 room 93sqm small house? is this how you calculate? just the interest is almost the same amount as the price of the hdb flat?

Usually for 30yr loan, I will just get the initial price times 1.44 to get the final amount paid after 30yrs.

so $300k works out to roughly paying $432k over 30yrs
 

whitebottle

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HDB at sky high prices:
1)People go buy --> Khaw: Wow, demand so high means price is acceptable!
2)No people go buy -->Khaw: Wow, demand is satisfied, stop building BTOs!


So either way, sinkies are screwed.

Haha now, u have really put things into perspective :)
 

HunterXtreme

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no wonder hdb can sell at such ridiculous price, its because of the people willing to be CHOP by the system...the people are willing to accept the ridiculous price

Sadly, I will not be participating in this BTO/SOBF
I consider myself to be middle class but I'm priced out of this exercise.... and I am not willing to settle for a 2rm/3rm flat if that is what the govt is hinting at "being affordable" :s27:

Most probably I will just save up enough cash in my bank+CPF and renounce my citizenship to retire in another country comfortably when the time comes... this is what they are forcing Singaporeans to do
 

chocolatemelt

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really scratch head, how can a couple be earning less than 10k per month and afford a 700k flat?

i just called HDB, for SOBF- esp the pinnacle at duxton units, ranging from 550-700k, income ceiling still 10k.

sad max.

anyway, SOBF applicants will be notified in end april of their balloting results, selection of flats expected to happen in 1st week of may over the span of 3 months.

bto applicants will hear from them in mid april.
 

lowrider

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SOBF

guys i see that some of the SOBF units are repurchased flats, those that HDB re-claim?? does it mean that the last owners can't pay the mortgage or something happen?

wonder whats the fengshui or condition like?
 

idolcritic

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Now for March BTO I decide I will go for 2-roomer only, as only lower pay contract work available for those over certain age group. I was told that if I lose my part-time job altogether, for 2-roomer, I cannot rent 1 room & stay myself in living room, this is not allowed.

However, I can move overseas to work, then rent out whole 2-roomer.

I would also be allowed to register a home office in a 2-roomer (in case I jia kah kee).

But branch office sounds uncertain about both rules. I can't locate rules on website - very slow, too many rules, hard to find. Anyone with experience in 2-roomers?

2-roomer means I reach the depths of desperation already. I have to separate from my family, who is squeezing 7 to a pigeon hole as it is now, for the past decades. We can queue up for hours just to get a turn to use the toilet properly.

Past decade, I saved diligently towards my own hdb, but all of a sudden, the past years, cost of public housing escalated to reach the pricing of luxury housing. Now, my decades of struggling at many jobs, instead of able afford 3-room, 4-room, I now can only afford 2-room.

Apparently, there is a $2k income cap on 2-room flat (which we just learned from news)? Only for matured estates 2-room, then income cap is $5000 (just changed).

This Mar BTO only Bedok have 2-room, $174k to $202k indicative pricing. For SBF, I see that there are those near town (eg Bt Merah) at $250k and those at Yishun, Punggol, etc at about $100k. There seems to be a surplus of 2-room units actually.
 

chocolatemelt

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guys i see that some of the SOBF units are repurchased flats, those that HDB re-claim?? does it mean that the last owners can't pay the mortgage or something happen?

wonder whats the fengshui or condition like?

there are unit numbers listed on hdb website, if you thick skinned enough, go knock of the neighbours door and see the fengshui.

i will do the same, for those "re purchased". but there are quite a bit of balance which has been vacant since TOP.
 

calcalmon

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Is it possible to apply for an SOBF and BTO concurrently?

See queue number then decided which to give up :D

Read somewhere that its possible, but according to HDB webbie it says that only 1 application is allowed per applicant for a single exercise.

Both considered as a single exercise or two diff exercise under a single launch?
 

xnasxanax

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guys i see that some of the SOBF units are repurchased flats, those that HDB re-claim?? does it mean that the last owners can't pay the mortgage or something happen?

wonder whats the fengshui or condition like?


yeah good point. i also wondering how the condition of those repurchased or repossessed like if we are successful.

have to go through so much trouble just to get that roof over your head.
young couple here btw, applying for the SOBF.

:s11:
 

qitt

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hi all, would like to check this with u guys..see if its correct?
say, flat price of $320,000, below 30yrs old, one of us is schooling.

application of flat :$10

Unit selection : $2000 (will b refunded)

Sign of lease : 5% downpayment : $16,000 (deduct cpf)
stamp fees etc : $6,269 (deduct cpf)

Collection of keys : 5% downpayment : $16,000 (deduct cpf)
AHG : $35,000
Balance cost of flat : hdb loan

with that, after they deduct ur 10% frm ur cpf, will the balance cpf u have remains? or do they wipe out everything during the collection of keys?
 

acetylcholine

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yeah good point. i also wondering how the condition of those repurchased or repossessed like if we are successful.

have to go through so much trouble just to get that roof over your head.
young couple here btw, applying for the SOBF.

:s11:

It's a gamble, really. In any case, make sure you check the lease commencement date and see whether their pricing is reasonable as compared to resale prices. Some of the houses sold under the SOBF scheme are really old (more than 10 years old) so the condition may be quite poor. Don't get chopped by HDB! :s16:
 

powerpuff2007

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Apparently, there is a $2k income cap on 2-room flat (which we just learned from news)? Only for matured estates 2-room, then income cap is $5000 (just changed).

This Mar BTO only Bedok have 2-room, $174k to $202k indicative pricing. For SBF, I see that there are those near town (eg Bt Merah) at $250k and those at Yishun, Punggol, etc at about $100k. There seems to be a surplus of 2-room units actually.

Thank you for all show concern.

Had a peep at neighbouring sobf 3-roomers - many repossessed units need overhaul cost big bucks. bto less reno cost, I hope. non-matured area lower price range but travel to be near family everyday will be tedious, time factor & transport cost not cheap.

174k to 202k per unit is not cheap, salary in singapore can't cope with monthly bills. but no good to always be wandering like lost soul without roof.

I put myself in shoes of a minister who earns a million$ per month. They can buy 1 condo unit every month! Or did I hear wrong, & they only earn half-a-million per month "only"? Because an ordinary citizen, 1 lifetime's work - still wondering how to cope with 1 2-roomer per lifetime, not per month! Actually, can a million$ a month minister understand how struggling it is for many ordinary folks in Singapore? I prefer a working class minister who can transform hdb into a real home that does not shackle one's life.
 

Milo-Dino

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u calculate yourself.

300k x 0.026 = 7800

7800 x 30yrs = 234000

300k + 234k = 534k

534k / 360 mths = $1483 mthly.

general young couples combined shld be in the region of 5-6k. to afford so sky high pigeon hole, they must work non stop and cant afford to stop, with not much surplus inside OA account.
I calculated with the mortgage calculator in hdb website.
Cannot calculate based on your method as you will be slowly reducing the principle sum through monthly payments. Thus your interest will decrease gradually
 

limpoop

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hi all, would like to check this with u guys..see if its correct?
say, flat price of $320,000, below 30yrs old, one of us is schooling.

application of flat :$10

Unit selection : $2000 (will b refunded)

Sign of lease : 5% downpayment : $16,000 (deduct cpf)
stamp fees etc : $6,269 (deduct cpf)

Collection of keys : 5% downpayment : $16,000 (deduct cpf)
AHG : $35,000
Balance cost of flat : hdb loan

with that, after they deduct ur 10% frm ur cpf, will the balance cpf u have remains? or do they wipe out everything during the collection of keys?

When you collect the keys they will zero your CPF OA.
 

lowrider

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It's a gamble, really. In any case, make sure you check the lease commencement date and see whether their pricing is reasonable as compared to resale prices. Some of the houses sold under the SOBF scheme are really old (more than 10 years old) so the condition may be quite poor. Don't get chopped by HDB! :s16:

i see that the bedok ones at.. at least 20 years old. most are 30 years old. one concern is condition, the other is previous owner? what led to returning flat to HDB?
 
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