Site and floor plans are out liao. Google is your best friend.
Units layout not too bad, even though small...I must say. Big balcony as expected.
Site and floor plans are out liao. Google is your best friend.
Units layout not too bad, even though small...I must say. Big balcony as expected.
Hi newbie here,
I am interested to get a unit here but I had purchased my flat 3 years ago thru WIS. By right, I need to fulfill the min. Occupancy period of 5 yrs before I can buy a private property. Just wondering have anyone buy a private property during the M.O.P? Will hdb finds out?
I won't be using CPF at all for downpay and monthly instalment in due course.
I really hope some one can shine some light here. PM me if you do not find comfortable in sharing openly. Thank you in advance.
of course you can buy a private ...Originally Posted by forest tree
only rule is you MUST be staying in the HDB to fulfil the 5 yr conditions
anyway u live in HDB or not you think they care ?
this is how our govt works .. so long as no one complain you are good ..
if anyone lodge a conplain ..they will investigate and take action ...
that applies to resale flat only, i think he purchased a new HDB from the government so he is not allowed to buy a private property according to HDB rules....Originally Posted by proud owner
Still can buy...just cannot stay in the condo. Have to stay in HDB.Originally Posted by Allthepies
Think got time bar one leh ...Originally Posted by jonleelk
http://www.hdb.gov.sg/fi10/fi10296p....s?OpenDocument
I only see time bar of 5 yrs before one can APPLY for a new HDB flat. Another one is 30 months from date of application, cannot own or sell any property.Originally Posted by cheerful
I have a friend who was looking at double bay longingly as the price went from the march low to the current higher price. But he still canot buy till the end of the year because he took a 30k grant from HDB. By that time it would be the highest price ever or sold out! Reason he bought a resale flat with HDB grant and is barred from buying private property for 5 years.Originally Posted by forest tree
Buy direct from hdb also face this issue.
My advise is to not take the 30k grant. seems like a lot of money but in actual fact you are losing more money by paying more for the private property and stamp duty when you cannot buy a private at the right time at an affordable price. Simpliy not worth it.
After shifting 3 times, I am still eligible for the grant but will not touch it. maybe only when i retire at 70 I will go and WIS as a first timer!
Wah, did not know got such thing leh...Originally Posted by JohnTan
Hi all,
thank you for your replies. I am pretty sure the ruling states that M.O.P is 5 yrs as i got my new flat from WIS.
but my question is how strict is this ruling? if i buy a private apartment now, will they find out?
I do not want to risk losing my flat or lose 20% first payment.
the reason why i am asking is also sometime rules can state this and that but in actual fact no one really practise it.
For my case, i was suppose to submit my marriage cert 3 months after collection of key. But i only got married after 19 months after collection of key and HDB only start asking after 12 months.
huh ?Originally Posted by Allthepies
if you buy direct from govt you can still buy private but must stay in HDB
if you buy resale ( open mkt) no restriction .. you can buy prvate and live whereever you wish
Originally Posted by JohnTan
think better check with HDB
i still believe you can buy private ..just cannot stay there since you take the grant ..
taking the grant does not mean one cannot stike TOTO and become rich enuff to buy condo right ??
i am very sure the rule is if you buy direct .. or take grant .. stay 5 yrs
you can buy private ANYTIME
just cannot stay in the private condo thats all
Checked and confirmed with HDB. as long as you buy new flat directly from HDB, you cannot buy private property in 5 yrs. I even ask them i just pay the 20% and TOP is 2014. HDB says cannot.Originally Posted by proud owner
So my question is again, should i risk it?? what they will do if they find out i bought a private apartment or will they ever find out??
John Tan is right about the rules and regulations about the consequences of employing the 30k or 40k government grant. Worse still ...they would penalise to repay the lump sum of 30k at least and forfeit the conservancy subsidy (This only apply to Singaporeans).Originally Posted by proud owner
If you own a flat bought directly from HDB, or a resale flat bought from the open market under the CPF Housing Grant Scheme, you can invest in a private residential property, provided you have completed the minimum occupation period of your flat. http://www.hdb.gov.sg/fi10/fi10206p....w?OpenDocument
"invest" means buy, not stay
minimum occupation period
http://www.hdb.gov.sg/fi10/fi10206p....s?OpenDocument
Can buy condo under parents or sibling name to avoid risk from HDB, but got new risk then. And if so, does HDB allow staying in "parent/sibling" condo while renting out own HDB?
bought my private apt. while still staying in HDB too
but the TOP is after the 5years term.
that was more than 10years ago.
You can only buy a private only 5 years AFTER you get your HDB keys. So if you go for those BTO scheme, the 5 years doesn't start from signing the papers. The moment you sign, you cannot buy private already. Even though BTO requires 3 years to build. So 3 years building + 5 years = 8 years. So 8 years cannot touch private. This is regardless whether you are staying there or not. You just cannot buy a private.
Once you exercise the option to buy the private, HDB will be informed by SLA. Then HDB will either 1) force you to sell your private 2) forfeit your HDB flat. Both scenarios come with a cash penalty as well.
The 5 years will apply to those who buy from HDB or resale market with a grant from them.
Originally Posted by forest tree
It depends on yourself lor. If you want to take the risk, then go ahead. Just bear in mind forfeiture of HDB will cost you. Forcing you to sell your private can also cost you dearly. We are talking about a few hundred Ks here. I have never buy HDB and will never buy HDB because of such rules. If you think they don't check, then go ahead and buy. If get caught, then too bad lor. Few hundred Ks gone. More of a balls vs $ scenario.
Originally Posted by forest tree
Hi Daniel,Originally Posted by Daniel_Yee
You are right, 450K if they take my flat away. 20% =200K if i am force to withdraw from purchase. The risk is too much to take. so no choice, just play safe and be a sitting duck hopefully blessing in disguise and property price is lower than now in 2 yrs time.
I think this rules is damn silly, even if i strike toto this wed. i still cant buy private unless i am willing to take the risk to forgo my flat if HDB finds out.
the rule is there to prevent speculationOriginally Posted by forest tree
if you strike toto, maybe you can write in to HDB to request for a special waiver...
balls vs $ scenario? or Crazy versus SaneOriginally Posted by Daniel_Yee
What is the chance they won't check? almost 100% they will check because....
When you buy you need to lodge a caveat right. You need to pay stamp duty right.
Income tax need to calculate property tax every year right, find out you have 2 properties and need to tax you accordingly right.
If you think IRAS is not going to ask you for property tax then go ahead and buy loh. But I think the chance is almost zero percent.
In this tiny red dot you can run but you can't hide.Originally Posted by JohnTan
you mean speculating on hdb flat or private??Originally Posted by Allthepies
Honestly, if 3mio is mine after this Thursday. Australia, here I come. Buy a farm and become a farmer there.
Not forgetting, our SLA will find out you have a stake in a particular piece of land. My advice is don't listen to people who tell you they buy this, buy that and never gonna caught. You don't know the authenticity of this claim. Furthermore, if you get caught, this person is not liable. You are liable for your own action. A few hundred Ks to risk against the rise in property price? That is soooo not worth it. I mean, how long do you think it will take for property to go up by 100k?
Remember, our civil servants might do things very slow. But that doesn't mean they won't do it. One time only and your ass gonna burn jia lat jia lat one.
Originally Posted by JohnTan
I forgot to add that my friend and wife HDB is fully paid up and every month their cpf is balloning. Definitely multiples of 30k in their combined account. Not even counting their bank savings account yet cannot buy. 20% cash down payment for 1m property no issue but cannot buy cos of 30k cpf grant.
They should have just buy private from the start and not greedy the 30k grant.
Newly weds, if u are thinking of buying private property in the next five years but want to get a HDB in the short term, skip the cpf grant!!!!!
Originally Posted by JohnTan
Better to buy a condo first before you get the resale HDB. Therafter, conditions are no grant and cannot buy new flat. Once you sold your condo, just wait 2.5yrs to re-instate your priviledge.
Hi everyone,
Thank you for everyone for your advices and i appreciate it.
I agree with most of you that its not worth it to take the risk, the money in stake can pay for an 2 bed room in australia with some spare change.
The reason why we bought HDB 3+ yrs ago is because we didnt have the financial ability to afford private if not i would have cash in now by selling my private away, i trust the profit should be good. Alot of newly wed falls under this catergory, not because we are interested in the 30K grand.
Yes forgot to mentionOriginally Posted by forest tree
i did not bite the grant given that time
what 1 or 2km from parent's place.
Actually, if you are really keen, just buy it under parents' name. By the time your condo is about to TOP, then u buy from him/her. That is provided that you as the buyer in another few years' time is willing to fork out the stamp fees.
$1,000+ psf for a freehold condominium at West Coast? Fmr Hong Leong Garden Condo?Originally Posted by pinkamoon
OMG, the property market is getting crazy. I used to hang around that place cos my ex-gf stayed there. I used to curse and swear whenever Im going there. Going there via AYE is still ok, but try to hit AYE back to the East is a pain in the butt. Prefer PIE? hoho, good luck on the jam at clementi.
No amenities nearby except for a deserted park.
Lousy public transportation.Definitely more than 15mins walk to MRT, I walked and timed my walk.
Near to nothing.
Constant noise from the expressway. Huge balcony is useless if you dread opening it and sitting outside to take in the noise and pollution.
Seriously? $1,000+psf??