Buying an HDB

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wwww
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Buying an HDB

Post by wwww » Sun, 31 Oct 2010 12:48 am

I am thinking about buying an HDB. With the new real estate law prices are supposed to go down for HDBS's. Will this also be valid for resale units? When to buy a resale HDB...now or wait 1,2 years?

Thank you for your opinions. :)

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Re: Buying an HDB

Post by sundaymorningstaple » Sun, 31 Oct 2010 12:06 pm

wwww wrote:I am thinking about buying an HDB. With the new real estate law prices are supposed to go down for HDBS's. Will this also be valid for resale units? When to buy a resale HDB...now or wait 1,2 years?

Thank you for your opinions. :)
The new real estate laws will not affect new HDB units at all. It will ONLY affect resale units. But it remains to be seen just how effective that really is. I wouldn't hold your breath waiting, truth be told. About the only thing that waiting 2 years will do is to let you spend 2 more years worth of rent instead of mortgage payments. I am assuming that you are a citizen or PR as they are the only ones who can buy HDB flats.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by ksl » Sun, 31 Oct 2010 12:44 pm

Retail HDB increased 4% last quarter

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Post by revhappy » Sun, 31 Oct 2010 12:46 pm

If you buying for your own stay its never a bad time to buy. The sooner you buy the better as you would be saving a lot on the rent. But if you are looking to invest then its different.

But I guess you belong to the "own stay purpose" category as the new laws dont allow you to hold a condo and then buy an HDB.

So yeah go ahead and buy when you see COV drop to 0.

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Post by wwww » Sun, 07 Nov 2010 9:25 pm

Thank you for all your answers.

Yes we are both PR. What I am mainly worried about is that I am buying in a bubble period and the place would lose in value in the next, say 5-6 years. Most places are being sold at around 80k over valuation or more (our budget is around 600k).

So what I am gathering from your answers is that It's currently still safe to buy...

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Post by ksl » Mon, 08 Nov 2010 12:06 am

wwww wrote:Thank you for all your answers.

Yes we are both PR. What I am mainly worried about is that I am buying in a bubble period and the place would lose in value in the next, say 5-6 years. Most places are being sold at around 80k over valuation or more (our budget is around 600k).

So what I am gathering from your answers is that It's currently still safe to buy...
Not at 80.000 over no way....i was reading it as dropped to 30k, though you need to confirm, i wouldn't pay 80k over or you may well lose out, what area are you looking at...many will bump the price up for a foreigner, though if you find one 25 years old, it will be paid for and they may not be so greedy.

Crikey you can get one at East coast for that kind of money, looking over the sea Marina Terrace area, just be careful of the agents. We had a really good agent, not at all greedy and very very helpful, he really did give us a bargain and we didn't pay anything over, in fact we agreed the family could stay in it until they found something took them 1 month, but it was fine with us, becuase of our rental contract.

I can maybe hook you up with him if you are interested.

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Post by sundaymorningstaple » Mon, 08 Nov 2010 12:24 am

Isn't that where one of the 3 room flats went for something like 7 or 800K around 2 years ago?
ksl wrote:
wwww wrote:Thank you for all your answers.

Yes we are both PR. What I am mainly worried about is that I am buying in a bubble period and the place would lose in value in the next, say 5-6 years. Most places are being sold at around 80k over valuation or more (our budget is around 600k).

So what I am gathering from your answers is that It's currently still safe to buy...
Not at 80.000 over no way....i was reading it as dropped to 30k, though you need to confirm, i wouldn't pay 80k over or you may well lose out, what area are you looking at...many will bump the price up for a foreigner, though if you find one 25 years old, it will be paid for and they may not be so greedy.

Crikey you can get one at East coast for that kind of money, looking over the sea Marina Terrace area, just be careful of the agents. We had a really good agent, not at all greedy and very very helpful, he really did give us a bargain and we didn't pay anything over, in fact we agreed the family could stay in it until they found something took them 1 month, but it was fine with us, becuase of our rental contract.

I can maybe hook you up with him if you are interested.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by ksl » Mon, 08 Nov 2010 1:15 pm

sundaymorningstaple wrote:Isn't that where one of the 3 room flats went for something like 7 or 800K around 2 years ago?
ksl wrote:
wwww wrote:Thank you for all your answers.

Yes we are both PR. What I am mainly worried about is that I am buying in a bubble period and the place would lose in value in the next, say 5-6 years. Most places are being sold at around 80k over valuation or more (our budget is around 600k).

So what I am gathering from your answers is that It's currently still safe to buy...
Not at 80.000 over no way....i was reading it as dropped to 30k, though you need to confirm, i wouldn't pay 80k over or you may well lose out, what area are you looking at...many will bump the price up for a foreigner, though if you find one 25 years old, it will be paid for and they may not be so greedy.

Crikey you can get one at East coast for that kind of money, looking over the sea Marina Terrace area, just be careful of the agents. We had a really good agent, not at all greedy and very very helpful, he really did give us a bargain and we didn't pay anything over, in fact we agreed the family could stay in it until they found something took them 1 month, but it was fine with us, because of our rental contract.

I can maybe hook you up with him if you are interested.
Yes one was sold at 850k, but I know an Indian family living in the area, they have purchased 3 now for family members over the last 6 years , all well under 600k only one has a view over the sea though, and the father has lived in that all the time.

Ours peaked at 500k and fell back to 475 could be lower today! Bishan area is pushing the 500k mark, though agents said its too much I have heard. The older ones have more room that's for sure

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Post by teck21 » Tue, 09 Nov 2010 12:34 pm

ksl wrote:Retail HDB increased 4% last quarter
But the last quarter comprised 2 months of transactions concluded well before measures were implemented, and the deals for the last month of that quarter were also pretty much done before August 31.

wwww, if you need a home to stay, and

You are certain that you will be able to service the mortgage payments when interest rates rise (which they will, I know alot of first time property buyers who have never seen 4% in Singapore before and don't believe it will happen, nor have a clue what happens when it does), and

You are not neck deep in debt in other areas.

It is always safe to buy a property, especially if you are going to stay in it.

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Post by asia singapore » Sat, 25 Dec 2010 11:42 pm

HDB has an online service to check past 1-year resale transacted prices to assist potential resale flat buyers and sellers.

http://services2.hdb.gov.sg/webapp/BB33 ... lTrans.jsp

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