Posts Tagged ‘FAQ’

FAQ #2: Selling your Property

Wednesday, June 17th, 2009

Most Singaporean or PR’s first home is a HDB flat. Over the years, one can shift as many as 7 times! What are the considerations before you decide to sell your flat?

SCENARIO 1:

About 5 years ago, Judy and Jack applied for their HDB Loan Eligibility (HLE) to check their eligiblity for a HDB loan (2.6%). Based on using up to 40% of their income on monthly housing repayment, they were eligible to buy a HDB flat with value up to $400,000.

Having just married and eager to start their new lives with the best, they decided to go for the biggest unit they were allowed to purchase, which in their case was an Executive Apartment. When the payments started, initially they were okay with forking out the extra cash each month, since their cpf alone was not sufficient for their monthly mortgage. But soon, the baby came along, and they started finding themselves short of cash!
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FAQ #1: Private property owners and HDB

Wednesday, June 17th, 2009

(Part of “The Almost Complete Goondu’s Guide to Buying a HDB Flat in Singapore” series.)

The Housing Development Board (HDB) provides affordable public housing, which essentially equates to tons of rules and regulations you have to abide to. Even with the massive load of information available on their website, it can get pretty confusing. Once you understand their underlying rational, the answers become quite straight-forward.

I’ll be posting scenarios that I’ve come across, starting with questions pertaining to private and hdb ownership.

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SCENARIO 1:

Ten years ago, May’s parents bought a private property. They decided to include May’s name as a co-owner. Now, May is all grown up, has met Tom, a guy she wants to marry, and they are deciding to get a HDB flat. They want to know:
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