But if a couple buys a resale HDB do they have the option to buy it as a buyer and occupant to not pay the ABSD when they buy the condo. Also, can they take the 75% loan and do they then have to pay the levy or do they have to pay it in full first to take the 75% loan.
Hey @sephhjo Thank you for watching our content, we are glad you enjoyed it!😁 Our sincerest apology, we do not fully understand your question. But to our best understanding and interpretation, if a couple bought a resale HDB as owner and occupier, and after 5 years, the occupier can go on to purchase a condo and not pay ABSD. With regards the the housing loan, the occupier who did NOT take a housing loan during the resale HDB can then take a 75% LTV loan for the private condo. Do let us know if you have any other questions, we would be more than happy to answer them! Cheers😊
Hello! That's a great question! If you own a HDB you will have to fulfill the minimum occupancy period before you can purchase a private residential property in SG. Feel free to join the NOTG Community on Telegram where we discuss interesting topics 😃 Join us! t.me/notgpod Cheers!
Currently in a owner & occupier situation for HDB and considering whether or not it makes sense to get another property? What is the usual advice in such a situation?
Hi Melvin / PLB, may I ask, in your opinion, for the purpose of maximising profit, should young couples who are intending to sell their BTO upon MOP go for extensive renovation when they first get their BTO? Or do you think that they should just do the most minimal renovation?
Hey @Theodoretay96 Thank you for watching our content, we are glad you enjoyed it!😁 That's a great question! In our experience, there can be 2 schools of thought to this. On the grounds, we have seen buyers who appreciate a fully-renovated unit and are willing to fork out a premium to purchase a fully-renovated, ready to move-in unit. On the flip side, we have also met buyers who have their own renovation ideas and would rather a house with minimal built-ins. Renovations can also be subjective, but as renovation costs can be quite costly nowadays, perhaps it is good to do minimal renovations and get loose moveable items if the plan is to sell after 5 years. It is also best to balance renovation costs against your own budget with functionality that works best for the owners' personal lifestyle needs. We hope we managed to answer your question, feel free to reach out to us if you have any other queries :) Cheers!😇
I was on a fantastic defensive play with 1 HDB EA + 1 condo until I received a phone call from hdb branch office in Sept 21 that told me I have to sell my hdb because they didn't properly enforce a rule when i did decoupling in 2014. Now I am back to having 1 condo and looking for a 2nd condo 😢
can you clarify if there is a HDB rule that stipulates owners who also bought a condo after MOP are required to stay in the HDB and rent out their condo. They are not allowed to rent out the HDB and stay in a condo. If this is true, then your argument holds no grounds. ..................
I can see the rule changing in the future where HDB upgraders to condo have to sell their HDB instead of keeping it and rent out. Renting out is against the overall philosophy that HDB is for owners to stay, not for owners to profit from rent and usually renting out to foreigners so locals cannot stay.
Hi @hhspore! Thank you for watching our content, we are happy to hear that you enjoyed it!😁 Thanks for your great question! At this current juncture, there is no rule to whether the couple must stay in either the HDB or the Condo. They are free to stay in whichever or rent out whichever once the HDB passes 5 years MOP. We hope we managed to answer your question, feel free to reach out to us if you have any other queries :) Cheers!😌
Very good layout of the possible paths a young couple can take now with HDB. I only wonder how many such young couples will think and plan so far ahead though.
With aging population, many would soon face the issue of how to deal with parents’ old HDB flats, particularly those who are already living in condo. Should the parents’ flat be sold or kept for rental and what are the best options? Perhaps this can be a topic of your next discussion..
If you already own a private property and inherit a HDB I believe you’re supposed to sell it, just that normally HDB gives some flexibility due to grieving etc to settle estate matters, but correct me if I’m wrong
Hey there! For flats that are inherited, there are certain prerequisites in order to retain the flat. For instance, factors such as date of purchase and the eligibility of holding would come into play :) Hope this helps :)
Why yr resale prices of old after mop hdb was around $650k?. Potong pasir near yr office and 10 mins to town. 3 rooms marketing at $580k. Bedok around $500k ,yet these are not just 5 yrs, these are 1986 to 1998. How could yr new after mop flats avg 4-5 rooms to be selling at $650k? Likely yr projection after the new ruling are underestimate
With the current prices for Condo/Landed, prices in 14 years time would likely be even more out of reach. Not sure about interest rates 14 years from now though. I think the proportion of young couples who are aiming to upgrade or even have 1 HDB + 1 Condo combo is going to be quite low. I think the majority will just stay wherever they are in their HDB. Who knows, maybe 14 years from now the govt might come up with new housing rules by then, say owners will be forced to sell their HDB before they can buy a condo/landed, and the 1 HDB + 1 Condo combo will no longer be allowable.
My advice to young couples who delay child bearings to wait for BTO. Your costs of handling children with special needs far outweigh the profit. Unless you are determined to be childless, don't gamble.❤️🐱🐶
According to HDB, 57% of HDB flats will be more than 60 years old in 2024, and these are all mostly mature estates so I guessed their values have not depreciated because there are still demands for a bigger house /nearer to MRT and schools. The people who purchased such resale HDBs will not sell them and use them to generate rental to subsidize a new condo purchase... this cycle will continue? lol
The market is jacked up by current owners but Govt choose to punish future owners. Fair?
But if a couple buys a resale HDB do they have the option to buy it as a buyer and occupant to not pay the ABSD when they buy the condo. Also, can they take the 75% loan and do they then have to pay the levy or do they have to pay it in full first to take the 75% loan.
Hey @sephhjo
Thank you for watching our content, we are glad you enjoyed it!😁
Our sincerest apology, we do not fully understand your question. But to our best understanding and interpretation, if a couple bought a resale HDB as owner and occupier, and after 5 years, the occupier can go on to purchase a condo and not pay ABSD.
With regards the the housing loan, the occupier who did NOT take a housing loan during the resale HDB can then take a 75% LTV loan for the private condo.
Do let us know if you have any other questions, we would be more than happy to answer them!
Cheers😊
The higher the property price the more agents earn.
What about HDB flats just next to LRT like in Punggol/Sengkang? Will that be considered as Standard or Plus?
They will be considered as Standard flats :)
Punggol is “hot” because of price and government build most at Punggol. What to do if you want BTO but only Punggol has?
Hi NOGT. Would a Singaporean Single purchasing a resale flat have to fulfill any MOP before purchasing a private property?
Hello!
That's a great question! If you own a HDB you will have to fulfill the minimum occupancy period before you can purchase a private residential property in SG.
Feel free to join the NOTG Community on Telegram where we discuss interesting topics 😃
Join us! t.me/notgpod
Cheers!
Why HDB not explaining all this?
Currently in a owner & occupier situation for HDB and considering whether or not it makes sense to get another property? What is the usual advice in such a situation?
Hey there! Please reach out to us via any of our social media platforms for us to better assist! :)
Hi Melvin / PLB, may I ask, in your opinion, for the purpose of maximising profit, should young couples who are intending to sell their BTO upon MOP go for extensive renovation when they first get their BTO? Or do you think that they should just do the most minimal renovation?
Obvious answer
Yea, obvious answer.
But do enjoy life abit as well, yolo.
Hey @Theodoretay96
Thank you for watching our content, we are glad you enjoyed it!😁
That's a great question! In our experience, there can be 2 schools of thought to this. On the grounds, we have seen buyers who appreciate a fully-renovated unit and are willing to fork out a premium to purchase a fully-renovated, ready to move-in unit.
On the flip side, we have also met buyers who have their own renovation ideas and would rather a house with minimal built-ins. Renovations can also be subjective, but as renovation costs can be quite costly nowadays, perhaps it is good to do minimal renovations and get loose moveable items if the plan is to sell after 5 years.
It is also best to balance renovation costs against your own budget with functionality that works best for the owners' personal lifestyle needs.
We hope we managed to answer your question, feel free to reach out to us if you have any other queries :)
Cheers!😇
@@notgpodcast thank you for your extensive reply! Really appreciate it!! I love the notgpodcasts as well!!
I was on a fantastic defensive play with 1 HDB EA + 1 condo until I received a phone call from hdb branch office in Sept 21 that told me I have to sell my hdb because they didn't properly enforce a rule when i did decoupling in 2014.
Now I am back to having 1 condo and looking for a 2nd condo 😢
were you both listed as owners on the HDB?
then isn’t it their fault now?
can you clarify if there is a HDB rule that stipulates owners who also bought a condo after MOP are required to stay in the HDB and rent out their condo. They are not allowed to rent out the HDB and stay in a condo. If this is true, then your argument holds no grounds. ..................
It is not strictly enforced. My neighbour bought a condo and move in while renting out his HDB flat.
I can see the rule changing in the future where HDB upgraders to condo have to sell their HDB instead of keeping it and rent out. Renting out is against the overall philosophy that HDB is for owners to stay, not for owners to profit from rent and usually renting out to foreigners so locals cannot stay.
Hi @hhspore!
Thank you for watching our content, we are happy to hear that you enjoyed it!😁
Thanks for your great question! At this current juncture, there is no rule to whether the couple must stay in either the HDB or the Condo. They are free to stay in whichever or rent out whichever once the HDB passes 5 years MOP.
We hope we managed to answer your question, feel free to reach out to us if you have any other queries :)
Cheers!😌
Very good layout of the possible paths a young couple can take now with HDB. I only wonder how many such young couples will think and plan so far ahead though.
those not at yoga class
With aging population, many would soon face the issue of how to deal with parents’ old HDB flats, particularly those who are already living in condo. Should the parents’ flat be sold or kept for rental and what are the best options? Perhaps this can be a topic of your next discussion..
If you already own a private property and inherit a HDB I believe you’re supposed to sell it, just that normally HDB gives some flexibility due to grieving etc to settle estate matters, but correct me if I’m wrong
Hey there! For flats that are inherited, there are certain prerequisites in order to retain the flat.
For instance, factors such as date of purchase and the eligibility of holding would come into play :)
Hope this helps :)
Why yr resale prices of old after mop hdb was around $650k?. Potong pasir near yr office and 10 mins to town. 3 rooms marketing at $580k. Bedok around $500k ,yet these are not just 5 yrs, these are 1986 to 1998.
How could yr new after mop flats avg 4-5 rooms to be selling at $650k? Likely yr projection after the new ruling are underestimate
It's 650k, not 65k
@@lilaclaicc I miss one zero.. corrected my comment
Melvin don't touch HDB liao, dunno the market and out of touch already hahaha
@@CT-xy6or but He had given example for resales price of $650k , which was not in line with current price
@@SWTAN-JEFFREY Yea, I totally agree with you, that's why I said he out of touch with the market already mah. His example no good
Nobody got time for a 14 year cycle. Private property investment is the way to go.
Good video
Thank you! Glad you enjoyed it :)
With the current prices for Condo/Landed, prices in 14 years time would likely be even more out of reach. Not sure about interest rates 14 years from now though. I think the proportion of young couples who are aiming to upgrade or even have 1 HDB + 1 Condo combo is going to be quite low. I think the majority will just stay wherever they are in their HDB.
Who knows, maybe 14 years from now the govt might come up with new housing rules by then, say owners will be forced to sell their HDB before they can buy a condo/landed, and the 1 HDB + 1 Condo combo will no longer be allowable.
No free lunch, please don’t steal my lunch.
You buy resale now n sell 5 yrs later sure lose $
But resale might be going for 2 millions soon.
My advice to young couples who delay child bearings to wait for BTO. Your costs of handling children with special needs far outweigh the profit. Unless you are determined to be childless, don't gamble.❤️🐱🐶
Can invite DESMOND TO YOUR SHOW . ASK HIM HARD QUESTION PLEASE
Heng ah, no caste system in sg
According to HDB, 57% of HDB flats will be more than 60 years old in 2024, and these are all mostly mature estates so I guessed their values have not depreciated because there are still demands for a bigger house /nearer to MRT and schools. The people who purchased such resale HDBs will not sell them and use them to generate rental to subsidize a new condo purchase... this cycle will continue? lol
❤❤❤❤
SG just headed for a caste system. The rich and the poor.