Advice for Buying HDB Flat

[blowblue]

hi all, I will need advice from all of you.

I'm currently a PR here and i am interested in buying a at least 4 room flat to executive flat range. I have looked at the HDB rules and I know i am qualified to buy a HDB, since i fit into one of the categories.
This is partly to live in and partly for investment (rental or sale in the future) if i am not living in it.

1) Currently Singapore is in the worst economic recession since its independence, I have heard that condo and house prices have dropped, since the property prices have skyrocketed. My question is do you know if the HDB prices for 4room flat-executive have fallen recently? Or is the price still stagnant for the time being since the buyers who can't afford condo or houses have downgraded their expectations to upper HDB housing niche? And also do you expect the prices to fall for 4room to executive range at the end of this year or next?

2) What are the differences between HDB & DBSS? Please tell me more about DBSS from the perspective of "living in it" & "investment" perspective ", is it worth the money to get a unit from DBSS?

3) Is it true that singaporeans love to live to flats near mrt? It's also a plus for my living convenience too.

4) Which locations in Singapore is suitable and unsuitable for renting out units? Another related question is if I buy flats in the north of singapore, will it be harder to rent out/sell the unit?

5) Should it matter if it is an old (1980s) or new units (2000s) from living and investment perspective?


Many thanks in advance.

[playhere]

PR buying HDB flat. I can only answer some of your questions:

1. price rise or fall of a HDB Flat:

It depends on where you are looking at.. HDB website has a section that shows you flats that are sold in past months. Use it to check if the flat you want to buy is over priced.

2. price factors includes:

A. Low, middle, high floor of your flat. ( high floors generally expensive)
B. Near the MRT. Yes, MRT and facilities in the area are an important factor for pricing
C. condition of flat.. Look at things like flooring.. ceiling leaking..

Agents.. always counter check what your agent tells you.

[wcs]

Flats in good areas are likely to be desirable, even in this market. As such they will usually sell for an amount above valuation. Usually you can only get a bank loan for the valuation less your deposit. So this amount above valuation you will need to come up with in cash.

If you are not the "saving type" that extra $20k++ above the deposit could be a real hassle to come up with!

If you can get the flat at valuation or below, it will make the financing that much easier!