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ngunadi

Own Hdb + Private Property

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managed to get the a flat through the sale of balance flat and have some spare cash.

HDB officer told us to take 30yrs loan and make capital repayment every year to save on interest paid.

Given such circumstances, when can i buy a private property?

Edited by budgetice
 

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managed to get the a flat through the sale of balance flat and have some spare cash.

HDB officer told us to take 30yrs loan and make capital repayment every year to save on interest paid.

Given such circumstances, when can i buy a private property?

Flats from HDB balance sale exercises require MOP of 5 years. I guess you can only buy private property after 5 years.

 

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even if i dont intend to sell of my HDB? That is bad... guess no choice already.. use this 5 yrs to accumulate more $$

Yes.

You got to wait 5 years. I got to wait 7 years (2 years for BTO, follow by 5 years MOP). That's the price we have to pay for getting 'subsidised housing'. :P

Edited by forgotten
 

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Guess, those new hse under

1. HDB balance sale exercises

2. BTO

3. Grant

can buy pte only after 5 to 7 years.

For resale, can buy pte

But MOP still remain for New & resale if "WANT TO SELL"

 

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but i didnt get any of the 40k grant for first time buyer.. **** lugi

U mention "get the a flat through the sale of balance flat"

Direct HDB flat from HDB. NO grant.

 

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but i didnt get any of the 40k grant for first time buyer.. **** lugi

Therat is right.

Aiyo you didn't lugi lah. 40K grant ONLY applies to first-timers buying hdb from resale market n stay near parents.

Somemore, I think you are very lucky to get a ready-built unit from hdb n don't have to pay cash for high COV! ;) So many of us, including myself and friends tried 2 years+ for balance flat ballotings but failed to get a unit lor.

Edited by forgotten
 

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So, does anyone know how is the 5years MOP calculated?

1) from day of collection of keys; or

2) from day u actually move in?

My guess is from the day of your 2nd appointment (the final signing of hdb document).

1. Keys collection could always be earlier or later

2. Why would HDB care when you move in?

 

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even if you haven't satisfy the MOP, and you want to buy a private property, you can write/email to HDB and appeal (find some good reasons such as the new place is near your children's school) you may be given an exemption...

 

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So, would it be better to buy pte first then, hdb resale ? without restriction ?

Oh, wait ..cannot, if pte first, then no grant & no hdb concessionary loan.

In my opinion, if you have a lot of CPF (and haven't bought any ppty yet), it might be better to buy private first. Coz you can use CPF for downpayment of the private ppty and also the monthly repayments (which would be on a higher side compared to using it to pay for HDB).

After you buy the private property, use as much as you can from your CPF to service the loans so that you can save your cash - then buy a HDB resale using the cash.

Again, this is personal opinion and some pple don't believe in maximising their CPF so above method may not work well for them.

 

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In my opinion, if you have a lot of CPF (and haven't bought any ppty yet), it might be better to buy private first. Coz you can use CPF for downpayment of the private ppty and also the monthly repayments (which would be on a higher side compared to using it to pay for HDB).

After you buy the private property, use as much as you can from your CPF to service the loans so that you can save your cash - then buy a HDB resale using the cash.

Again, this is personal opinion and some pple don't believe in maximising their CPF so above method may not work well for them.

In this way, i would not eligible for the HDB grant and would "lose" 30k.

 

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Again, this is personal opinion and some pple don't believe in maximising their CPF so above method may not work well for them.

Maximising CPF.

After downpayment, must still have 5 years of reserve monthly installment.

Keep aside OA=20k(3.5%) SA40k(5%)

Buy insurance plan, those "AS charge" type

Transfer MS Top scheme to Parent

Use Education scheme for your child

If still have balance, invest in unit trust and stock

After you buy the private property, use as much as you can from your CPF to service the loans so that you can save your cash - then buy a HDB resale using the cash.

I use CPF for my loans, but I am still as broke. By the way, buy pte need a lot of cash upfront and monthly expenses :)

 

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Buy hdb or pte first?

1. For young couplers( whether more or less $8K combined income), corner stone method applies, "clash" and buy the "cheaper" unit first( depend on yr family structure, say coming 5 yr), choose the least loan tenure (acc to yr financial committment), fully redeem it. Wait & see the right timing to buy/sell, or hold both and be a landlord. Now is landlord's mkt, a few years to go, when more BTO & pte house ready. Use all yr OA, don't use CPFIS ("profit" not easy to earn & also much!). Aim the location properly.

2. Pte need 5% upfront + heavy monthly maintenance (full facilities, children like these!) It's sort of blood "bleeding" llike cars. L99 condos flooded in mkt, best to stay 5-10 yr & sell away, then get FH with little facillities (children grow up liao), blood outflow little.

3. HDB units apparently enjoying good rental yields and many years to go, if you can keep, please keep and be a landlord!.

Edited by bepgof
 

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