therat

He also say can https://www.facebook.com/notes/tan-chuan-jin/earn-1000-a-month-and-you-want-to-buy-a-flat/338028739573241 Earn $1000 a month and you want to buy a flat?! by Tan Chuan-Jin on Friday, March 2, 2012 at 9:01pm · Tears were shed by some, who lamented about the ability to buy flats for their parents in the future. Others raised their eyebrows when DPM Tharman made the point about the $1,000 income family being able to afford to buy a small flat. Online critics went to town to mock the im-possibility of this. Well... For a first time applicant, he can apply for a new 2-room standard BTO (Build-to-Order) flat in a non-mature estate. These flats are set aside for those earning $2,000 and below a month. These households earning $1,000 can qualify for generous housing grants. Available to them are the Additional CPF Housing Grant (AHG) of up to $40,000, and the Special CPF Housing Grant (SHG) of up to $20,000. These grants could be used for the flat down payment. Total = $60,000 How much is a flat? Using the selling price of a new 2-room BTO flat in Fernvale Lea in Sengkang as an example, it is $100,000 (offered in the Jan 12 BTO exercise; the price range was from $83,000 to $112,000) Deduct the $60,000. The applicant needs to pay $40,000. With a loan for $40,000, repayment per month is as shown below: - 30 years loan : $161/mth - 25 years loan : $182/mth - 20 years loan : $214/mth For a young household headed by an income earner with a salary of $1,000 per month. He will have a total of $217 contributed monthly to his CPF Ordinary Account. Monthly cash outlay = $0 This support for families enable them to move from rental to owning their own homes. If they prefer to rent, rentals for those with income of about $1,000 is $90-123 for 1-room, $123-$165 for 2-room. 4300 of these 2-rm BTO flats have been built since 2006. More in pipeline this year. Situation is manageable. Demand for rentals still remain high and we are increasing the building of rental flats. By 2012 we would have about 50,000 and waiting time would come down from 21 to 8 months. This note will not be talking about the range of efforts undertaken for low income Singaporeans. It is meant to explain about one aspect of housing. We have other initiatives to help, amongst which are transfers, job provision etc. Many of these are existing measures and new ones which this Budget 2012 addresses. But I will just mention Workfare. If he's aged 35-44, together with Workfare Special Bonus, he'd get $1,313 per year. If aged 45-54, $1,750 per year. Miscellaneous Info for those interested in some data: - The Average Monthly Household Income from Work among Resident Employed Households for the 1st-10th percent is $1,581 for 2011. - 1 to 2 roomers comprise 4.6% of distribution of resident households. - In Govt transfers, they receive an average of $3,270 per household member. - Across the board, average household size is 3.5 For 1-2 roomers, average household size was 2.2 Key Household Characteristics and Household Income Trends 2011 An Inclusive Society...making it happen Hdb Infoweb Special Housing Grant Additional Housing Grant Help for low income families ComCare Helping the Needy Postscript 1: How the sums can add up for other sized flats Postscript 2: ST Article on Singaporeans owning these flats PS1 We used this 2012 Fernvale Lea example to illustrate the lower end 2R flats. Other flats: 3 Rm. Typical price about $170,000Couple earns $2,500. AHG= $30,000. Cost of flat = $140,00025 year HDB loan will see their monthly repayments fully covered by their CPF contributions (OA). No monthly cash outlay. 4 Rm. Typical price is $280,000Couple earning $4,500. AHG=$10,000. Cost of flat=$270,00025 year will see their monthly repayments being covered mostly ed by their CPF contributions (OA). $60 monthly cash outlay. 5 Rm. Typical price $350,000.Couple earns $6,000.25 year will see their monthly repayments being covered mostly ed by their CPF contributions (OA). $50 monthly cash outlay On average thus far, most HDB loans taken from onset is about 22 or so months. As income rises, and people choose to repay earlier, period can come down.When I last shared this a few months ago, those aged 55 who have not discharged their HDB loans are about 12+% PS2 Straits Times, 9 Mar 2012. Can a Singaporean who earns $850 a month afford to buy a Housing Board flat? Mr Mohammad Charlie Jasni says yes. The odd-job labourer earns that amount, and he and hisfamily will be moving into a new two-room HDB flat in Punggol by the end of the year. BACKGROUND STORY How he pays for his flat Monthly income: $850 Total household CPF: $40,000 Cost of build-to-order flat in Punggol: $99,220 Additional CPF Housing Grant Scheme: $40,000 Remaining cost of flat: $59,220 ($99,220 less $40,000) Estimated monthly instalment for payment: $83 for 30 years Deduction from CPF: $83 Cash outlay: $0 He had successfully balloted for the 45 sq m build-to-order unit in August 2009. It cost $99,220, but because he earns less than $5,000 a month, he qualifies for a government housing grant that gives him $40,000 to offset the flat's price. This means he has $59,220 left to pay, which he will do using his Central Provident Fund (CPF) savings. He and his wife already have about $40,000 in their CPF accounts, and this will grow as he continues to work. Based on the Housing Board's calculations, he needs to pay a monthly housing instalment of $83 over 30 years. 'By paying the $83 out of my CPF, it means I have that little more for daily expenses,' said Mr Charlie, 33. He is currently living with his wife and two children in a two-room rental flat in Beo Crescent. They pay $44 a month for that flat. They are excited about their upcoming home and are already discussing renovation ideas and shopping for furniture. 'It is good to have a home of our own,' he said. Mr Charlie's story puts a face to a statistic that has been debated in the last week. In Parliament last Thursday, Deputy Prime Minister Tharman Shanmugaratnam revealed that 'a family with $1,000 income can now, through our housing subsidies, purchase a small flat'. He was responding to Workers' Party member Gerald Giam's comments about Singaporeans being unable to afford a flat. The minister's remarks sparked off much discussion in both cyberspace and coffee shops alike. Some wondered how $1,000 could buy anyone a flat, given that sum was hardly enough to support a family's daily living expenses. The next day, National Development Minister Khaw Boon Wan explained that Mr Tharman was referring to a new two-room flat. He added that the subsidised price of such flats was about $100,000 if the applicant was a first-time buyer. He would also be entitled to housing grants of up to $60,000. The net selling price would thus be $40,000, and the monthly mortgage payment can be fully paid from his CPF contribution, Mr Khaw said. In response to queries from The Straits Times, the Housing Board said it was unable to say how many households earning $1,000 a month own two-room flats. But it pointed to how that it has two schemes that target low-income, first-time buyers. The Additional CPF Housing Grant Scheme (AHG) benefits households whose income is not more than $5,000 a month. The maximum grant quantum is now $40,000, and it benefits 8,000 households every year, said the Housing Board. The Special CPF Housing Grant (SHG) is given to first-timer families earning up to $2,250 a month to buy a small flat. Those earning $1,500 or less get a $20,000 grant. SHG is over and above regular housing subsidies and the AHG. The Housing Board estimated that about 700 tenants currently renting flats under the Public Rental Scheme can benefit from the SHG if they decide to buy a flat. To date, the scheme has benefited 53 households who have bought two-room flats. The Housing Board also gave The Straits Times five recent case studies of households with monthly income of about $1,000 who bought two-room flats. Four managed to buy new flats with the help of both housing grants. The fifth used only AHG as SHG had not been implemented when he bought his flat. Out of the five families, three were rental tenants who have bought a new flat without taking any loan because they used the housing grant and their own CPF savings. The other two were families currently living with relatives who have bought new flats using both grants and their CPF savings. In one case, a couple who lived in a rental flat bought a new flat in Bukit Panjang. At the point of applying for a flat, their monthly income was $900. The flat cost $106,350. They got the maximum total housing grant of $60,000 - $40,000 AHG and $20,000 SHG. This, together with their CPF savings, meant they did not have to take any loan. In another case, a man and his mother bought a new flat in Sengkang for $117,750. They got $60,000 in grants, and took a 17-year loan with a monthly instalment of $131. Schemes to help with expenses The Straits Times visited five blocks of two-room flats in the Woodlands and Ghim Moh areas this week and spoke to people in over 30 homes. Most of the residents there were renting their units. Of the four who owned their flats, one had downgraded from a four-room unit, while three others had downgraded after selling their previous flat in the Selective En Bloc Redevelopment Scheme. Among those renting, many were in their 60s and 70s and retired. They said they do not have much in their CPF or bank accounts, which is why they cannot buy their own units. Madam Tan Chui Eng, in her 70s, and her husband, Mr Teo Kim Wee, in his 80s, said they have been living in a two-room rental flat in Ghim Moh for six years. Most of the money in their CPF accounts has been used for medical expenses, they said. They have three daughters who pay their monthly rental of $61 and utility bills. 'Of course, we would like to buy our own flat, but we cannot afford it,' said Madam Tan in Teochew. MPs said that with grants and other assistance schemes, households earning $1,000 should be able to afford a two-room flat. Mr Vikram Nair, an MP for Sembawang GRC, said he knows of such households who rely on CPF contributions to finance their purchases. As to whether $1,000 is enough for a family to survive, he said there are public assistance schemes, such as GST vouchers and Workfare Bonus, which can help low-income families cope with daily needs. Mr Liang Eng Hwa, MP for Holland-Bukit Timah GRC, said regardless of whether they buy a flat, low-income households have little cash on hand. But rather than use cash to pay rent, 'why not use the CPF to pay for a flat?' 'The cash they save by not paying rent may not be much, but still it gives them that little more for daily expenditure,' he added. For odd-job labourer Mr Charlie, every bit saved helps to pay for living expenses. His wife does part-time administrative work. He did not think he could afford a flat 'but when the Housing Board reintroduced two-room flats again, I felt that perhaps I could afford one'. In 2006, the Housing Board resumed construction of two-room flats after 20 years, to give more housing options to low-income households. He decided to wait a bit because he wanted to build up his CPF account first. Now that he has bought a home, he feels the pressure of maintaining his CPF account so that the flat can be paid off. 'Some companies are cutting back on manpower and I'm scared that I may lose my job,' he said. But he does not regret buying the unit. He hopes to pass the flat - or a bigger one should they ever upgrade - to his children.

He say one $1k income can OWN flat

And this one Buying HDB flat on $1K pay possible, says Josephine Teo http://www.channelnewsasia.com/stories/singaporelocalnews/view/1186756/1/.html

U must have miss out this news Khaw Boon Wan clarifies Tharman's "buying HDB flat on $1K pay" http://www.channelnewsasia.com/stories/singaporelocalnews/view/1186651/1/.html

Will DBSS has security, swimming pool, gyms and club house? supply and demand. DBSS quality also not that great.

U had miss the boat

When ur wife did for your MIL, is it contra too? Who promise you? Agent or buyer? Buyer taking HDB loan or Bank loan?

No need to think so much. By 2 wk time , if they don't exercise the OTP. U eat that 1k deposit. U don't have agent? 4k is given when they exercise the OTP. If they don't exercise the OTP. How to give you the 4k ASAP????

DBSS 10 yrs down the road. Still a HDB EC , 10 yrs down the road. It is a private property. DBSS is not cheap.

if the different is not great. EC

how does bank find out??? Don't forget before Bank loan money to you. They check your credit status. U own which bank , how much, simi car loan, student loan.. All appear. can hide one meh? Bank also scare bad debt.

close all the window include the toilet window. push a floor cloth on the main door , prevent ka-ka 'run' for their life and went into your house. Oh.. don't forget your drainage. Cover it.

cannot. 1 reno loan 1 bank. Cannot combine 2 bank reno loan into 1 renovation

merge 2 same topic into the same thread. In the 1st place, the wiring should not be hanging in the air.

1 reno loan 1 bank. Cannot combine 2 bank reno loan into 1 renovation

When I sign the OTP, seller agent say, 1. seller need to extend 1 more stay after 2nd appointment. B'coz they are selling and buy house. 2. he will submit the OTP form within 45 day after we sign. So that they had more time to look for house. We agree on the spot and ask for market rate rental. During 1st appointment, seller agent say.. the seller house only can complete 2 mth after our 2nd appointment. So ... ask for 1 more mth extension. We don't have a choice. So.. also agree and on the spot. We told seller , on the 2nd appointment, we will collect the collect 1st mth rental, sign the so-call gentlemen agreement. Seller agent say.. this is between seller and buyer. He don't want to get involve. Then 2nd appointment, haha.. Seller agent say.. seller new house "resale HDB" only completed 1 wk after us. So.. they need time to reno. So.. ask for another 1 more mth. So.. total 3 mth extend. If you had a place to stay. It does not affect you. BUT if you are sell and buy. Then don't. BTW, after 2nd appointment, Property tax will be under you. You pay. PUB, you don't apply first. Tell them cancel their PUB after they had move out. Until you got the confirm date they are moving then apply.

as long as your fund deposit back to your CPF before 2nd appointment. U can pay full CPF. Provided your private sale don't delay. Private condo took 12 wk to complete. HDB.. 1st to 2nd appointment is 5-8 wk time. Should be enough time. Just prepare doc to proof that you had the money power to pay full.

My spouse ex-colleague did a under mount sink and the contractor worker didn't do a proper job. Basically any how install and heard from my spouse.. like forget to do sth or do the easy way. Conclusion, the water leak to the bottom kitchen cabinet , right under the sink. As her kitchen cabinet is made of wood. She say.. cross the finger and see.. how long her cabinet can last. After heard her story, we immediately change our plan from under mount to top mount. Especially we are using the same contractor.

How much u need to loan and how much the bank can loan you?

use ur HP to take a pic on that floor.

depend how deep is your pocket. Franke is a good brand.. but need deep pocket.

1. Personally, I prefer top mount. Reason .. as what beluga has mention easy to change. 2. Personally, I prefer single bowl. B'coz normally u dont use the small bowl. The small bowl will turn out.. U put plastic bag to collect trash 4. I think I read some where, someone mention square corner hard to make. That's why cost higher. It's nice.. but no easy to clean as what Confidential has mention I'm using steel stainless steel bowl The one I bought come with Crockery Basket sth Like this Kohler Rhine Series 1012F Topmount Kitchen Sink If you want to buy stainless steel sink. Spent a bit more and get a better grade. Don't save that money. Now.. my sink.. get stain easily and alot of line but i like the design. So .. guess.. kind of give and take. If you want to buy BIG single bowl, ask your contractor for the max size it can fix in. Length, width and deep

u need to pass the exam first, before join the company.

Yes. Must join a company Must be full-time? New rule, part-time need letter from full time company, agree to let them do part-time.

1. If take HDB loan. I think min sum like $500. If Bank Loan, need to check with Bank 2. 5 yrs is a long way. No one know 3. For more information about valuation limited. Check CPF. If I don't remember wrongly, now VL is 110%