A new Housing Board portal is set to be rolled out by the end of next year for buyers and sellers to transact HDB flats on a single platform. It will have a flat-listing service for buyers to find information on current and upcoming flats sold by HDB, and compare them with resale alternatives, Minister for National Development Lawrence Wong said yesterday. Sellers will be able to list and advertise their flats on the portal, and continue to complete the resale application on the same platform. This new portal follows an earlier move by HDB last year to revamp its online portal for HDB resale flats, resulting in the transaction time being halved to eight weeks when there are no hitches. Speaking at the HDB Awards ceremony at Marina Bay Sands last night, Mr Wong said the portal will allow buyers to make detailed comparisons among shortlisted options and see which flats are within their budget or have sufficient leases to cover them for life. This will help them make informed decisions … [Read more...] about New one-stop HDB sales portal by end of next year
Singles buying new hdb flat
We've simplified the 2019 prices for a BTO flat, resale flat, executive condominium, and private condominiums in Singapore. If you've been thinking about buying a flat in Singapore, you might have felt confused and overwhelmed about the fees and costs involved. In this article, we get down to brass tacks. Here's what you realistically need in the bank to buy your first house, and what other expenses to prepare for. Be sure to also read up on the latest Enhanced CPF Housing Grants and higher income ceilings for both families and singles looking to qualify for housing grants, which take effect on 11 Sep 2019. HOW MUCH DOES IT COST TO BUY A HOME IN SINGAPORE? The costs of properties can vary significantly, based on factors such as location, facilities, surrounding amenities (like MRT station) and age or condition of the unit. There will always be the occasional neighbourhood or unit in which the price is much higher or lower than the norm. These are general estimates only: 2019 PROPERTY … [Read more...] about How much do you need to buy your first home in Singapore?
Unrelated singles who are 35 years or older can also jointly apply for an HDB flat - up to 4 such individuals can co-own a flat this way under the Joint Singles Scheme. The only other eligibility requirement is the EIP and SPR quota (used to encourage and maintain social cohesiveness). However, this is more likely to impact your flat's location, rather than act as a hurdle against your eligibility to apply for one. As a single buyer, you have 2 choices when it comes to HDB apartments - a 2-room BTO HDB flexi flat, or a resale HDB flat. The table below presents a quick summary of the pros and cons of both options. WHICH HDB FLATS SHOULD SINGLES GET? 2-Room BTO HDB Flexi Flat (99-year lease) Resale HDB Flat More affordable (approx S$75,000 to S$158,000) More expensive (approx S$250,000 to S$343,000 for a 3-room flat) Longer waiting time (average 3 to 4 years) Shorter waiting time (You can complete your purchase in as little as 6 months) Restricted to 2-room units (35 sqm … [Read more...] about What type of HDB flats can single Singaporeans buy?
If you didn't already know, Singaporeans who have never been married before can buy a HDB flat once they turn 35. While you may not be eligible for another decade or so, it's a good idea to know how much you'll need to buy a flat so you can start getting your finances in order. We talk to Amy Lim, an associate division director at Propnex Realty, to help you figure out what sort of flat you'll be able to get at 35, and how much you'll need to put down for it*. BTO OR RESALE? There are two main options when it comes to buying a HDB flat: brand new Build-to-Order (BTO) flats or resale flats from the open market. If you're earning $6,000 or less a month, you can apply for either. But if you're earning more than that, you can only apply for a resale flat. IF YOU GO FOR A BTO FLAT... BTO flats have 99-year leases and are generally much cheaper than resale flats. According to Amy, a two-room BTO flat in Punggol goes for about $130,000. Assuming you pay for 20 per cent of it … [Read more...] about Can you afford a HDB flat when you’re 35 and single?