Official November 2016 SBF

[simplydelish]

Hi,

if i am waiting for May sobf selection and if i apply for Nov sobf. In the event if i got a decent number for Nov but i chose the May sobf for a unit, will i be considered giv up 1 chance of choosing flat?

if you chose a flat under May sobf, your Nov sobf application will be cancelled..

 

[iphone1s]

Blood, so much blood... everywhere.. on our govt hands....

 

[vetomoko]

can i ask u guys something.

Say a 3room flat near town is 350k.

Assume we are just a couple, 2person only, say both 30years old, earn say 3k/month.,

our OA small money only 30k.

we are modest people, no 350k. i mean if u r rich u wouldn't have bought hdb, u would have bought 2million condo or even landed.

so no choice, we take HDB loan from PAP, assume they can loan full. i key in the calculator, 25years 2.6%pa is a forking $1588per month, correct.

ok my question now is:

So, we need to pay $1588 either cash or cpf for 25 forking years correct?

if halfway down the road say we 40years old, we become sick, cannot work anymore how do we continue to continue to work cow work horse for PAP to Pay And Pay?

i am trying to picture the future scenario. What are the options do i have if say i fall into major illness as we approach 40s+, 50s.

 

[Gixxerfied]

3k combined??

 

[vetomoko]

ya, combined say 3k.
wife can work la, is around 2k. but if lets say i plan her to stay at home look after future kids.

Just a general planning la

one option is to rent a room out. but then rental market nowadays looks sluggish. Say if cannot rent a room out in 2030, cannot find any foreigners to rent to then how ah? how to keep on paying the $1588 per month?

 

[Franzz]

Yes. 350k house monthly instalment is around 1.5k for 25 years! By cpf to top up with cash if necessary.

If down the road you cannot pay, HDB will most likely advise you to sell the house and downgrade or worst case scenario, repossess the unit.

If you think it is too much a burden to bear, get a 3-room unit at a non mature estate. 200k can get good top floor unit.

My gf and I we earn 10k combined, we target 350k unit also. Dont dare commit too much. Even now she worry about the affordability though we can well pay it off via cpf.

But don't worry. Career progression means your pay will increase in the future. Maybe 10 years down don't feel so Chor.

 

[Gixxerfied]

ya, combined say 3k.
wife can work la, is around 2k. but if lets say i plan her to stay at home look after future kids.

Just a general planning la

one option is to rent a room out. but then rental market nowadays looks sluggish. Say if cannot rent a room out in 2030, cannot find any foreigners to rent to then how ah? how to keep on paying the $1588 per month?

3k combined i say the 350k flat is big hat..

My 6k combined i only hoot 4rm at 269k, loan 180k..i also scare..

And yes, likely they would advise u to sell and downgrade or buy a non mature unit at a cheaper price..

Not forgetting for 3k combined, o/a contribution monthly if under 35 is only $690..

 

[vetomoko]

very sian hor? Pay And Pay.

Actually both of us combined now 5k+, but then down the road, many things can happen. Either like bro Franzz say our salary go up, or, we kena retrenched, or (choyyy) kena any illness etc.. which make us unable to work.

u know nowadays very young also can kena illness right..

if such a thing happen, then the $1588 per month how ah?

Like what porlumpa KohPohKoon said: sell your house, HDB is not your bank.

Now i understand why some people opt to jump. after jump, the insurance pays up the remaining in full.

i also understand why people vote PAP, is because they scared their resale price drop. A very very utterly selfish thinking. The next generation (which is our generation) suffers.

 

[Franzz]

Need some financial planning lor. Maybe have a 6-12 months reserve for a peace of mind.

 

[Gixxerfied]

IMHO, always wise to beable to cover the monthly installment completely by CPF..Best scenario would be to have excess after deduction..

 

[whereismyqno]

very sian hor? Pay And Pay.

Actually both of us combined now 5k+, but then down the road, many things can happen. Either like bro Franzz say our salary go up, or, we kena retrenched, or (choyyy) kena any illness etc.. which make us unable to work.

u know nowadays very young also can kena illness right..

if such a thing happen, then the $1588 per month how ah?

Like what porlumpa KohPohKoon said: sell your house, HDB is not your bank.

Now i understand why some people opt to jump. after jump, the insurance pays up the remaining in full.

i also understand why people vote PAP, is because they scared their resale price drop. A very very utterly selfish thinking. The next generation (which is our generation) suffers.

Our combine is around 5k+, we are aiming non mature 3 room around $260max
loan is around 200K.

We always try to calculate and plan,seeing if 1 person out of job can sustain a not.
If yes than go ahead.

If no, maybe u wanna get a smaller, cheaper unit.

For my self i am not willing to carry this debt till i get old or even the 25 years down the road

 

[nannan82]

Y pple here earn so much but scare to hoot big flat??? I got many fren combine less den 10k hoot 2 bedded condo lay... Haha for me i hoot 3rm sengkang... Hope i kanna good queue

 

[Picanto518]

3k combined i say the 350k flat is big hat..

My 6k combined i only hoot 4rm at 269k, loan 180k..i also scare..

And yes, likely they would advise u to sell and downgrade or buy a non mature unit at a cheaper price..

Not forgetting for 3k combined, o/a contribution monthly if under 35 is only $690..

hi gixxerfied I did apply 3 rm sbf at tjurong east under Sers plan. High chance to get ? Thks.

 

[ene1010.tan]

Will the final results for this balloting be updated on the same link or need singpass to login in to check?

Finally its the closing date.

Wasted an extra $10 on this ballot, parents changed their mind at the last min. From Bedok BTO to SBF Whampoa. Hopefully will get a Q no in Feb.

 

[Zach.Ho]

Y pple here earn so much but scare to hoot big flat??? I got many fren combine less den 10k hoot 2 bedded condo lay... Haha for me i hoot 3rm sengkang... Hope i kanna good queue

Not planning to have kids?

 

[xtwis7]

Applied yishun 5rm. 4 applicants for 1 unit and honestly, there's probably only 5 pretty good units in terms of location. Well, see whose luck better already.

 

[duckie_15]

Y pple here earn so much but scare to hoot big flat??? I got many fren combine less den 10k hoot 2 bedded condo lay... Haha for me i hoot 3rm sengkang... Hope i kanna good queue

Your frd either nv think properly or they are cash rich.

 

[log4dinesh]

Indian ethnicity, first time hooting for Kallang 4 Room.

8.4 first timers for a single unit.

any neighbors?

 

[YuaNWA]

Indian ethnicity, first time hooting for Kallang 4 Room.

8.4 first timers for a single unit.

any neighbors?

There should be quite a number of units that are reserved for Malay/Indian/Other races, so you actually stand a better chance than Chinese.

 

[pillowhugger01]

very sian hor? Pay And Pay.

Actually both of us combined now 5k+, but then down the road, many things can happen. Either like bro Franzz say our salary go up, or, we kena retrenched, or (choyyy) kena any illness etc.. which make us unable to work.

u know nowadays very young also can kena illness right..

if such a thing happen, then the $1588 per month how ah?

Like what porlumpa KohPohKoon said: sell your house, HDB is not your bank.

Now i understand why some people opt to jump. after jump, the insurance pays up the remaining in full.

i also understand why people vote PAP, is because they scared their resale price drop. A very very utterly selfish thinking. The next generation (which is our generation) suffers.

My calculations is always based on 1 person's income. In case one of us is out of job, at least we are still able to pay off loans and daily needs. I'm contented as long as we have a roof over our head. Also, NEVER NEVER stay with in laws.