Need more information for buying a new flat

[kaitokane]

HI !
my hubby and i just got marry not long, FIL already ask us go look for new flat and get 5 room flats or bigger. don't ask me why is it so big .. lols . urmm, we are first timer, so dunno alot of things for buying new flat.
i saw some post aboout BTO all these, which i totally dun understand at all..

ps : i just applied for HLE .. scan the form everything already and send ..

so what am i suppose to do next ? see flats ? or ?
i feel so stupid -.-

so i wish all of you mummies out there,
Mind sharing with me your experience or advice on buying new flat ?
tyvm !! ^.^ hope to hear from you all ..
:tlaugh:

 

[jxmummy]

u have applied for HLE loan? meaning u apply flats through BTO system already and have selected yr unit or u just wanna check how much u can get from HLE loan?

 

[Ting]

uhmmm, have u even applied for the BTO?? or u intending to get a resale flat?

 

[kaitokane]

Jxmummy :
i dunno ? just apply only .. i dunno thats a loan .. i thought is some kind of letter for you to buy new flat ..

ting : BTO is ? apply for ? urmm ..

i wanna get new flat. like those haven't totally built okay yet, den few more years we will get the flat .. yeah ..

 

[jxmummy]

Jxmummy :
i dont know ? just apply only .. i dont know thats a loan .. i thought is some kind of letter for you to buy new flat ..

ting : BTO is ? apply for ? urmm ..

i wanna get new flat. like those have not't totally built okay yet, then few more years we will get the flat .. yeah ..

Yup, this is BTO (Build-to-order).
first, you have to apply through HDB website, then HDB will inform you by post how many ballot chances you are entitled to, next HDB will inform you your queue no., if your queue no. is within the no. of flats on offer for that particular BTO, you can get to select your unit and HDB will inform you by post also for your appointment to select your unit. As for the HLE loan, i submitted when i went for my HDB appointment to select the unit, cos if I'm not wrong, HLE loan has expiry date, timeframe is 3 or 6 months. once expired, you will need to re-apply again.

 

[kaitokane]

Urmm, thanks!

i try HLE loan, they say we couldn't get it .. as we both not working

lets say i apply for BTO, but i later on den apply for HLE .. is it still possible ?

den those dbss flat, condo but is under goverment de, and haven't build okay, how do we view it and apply for it ?

sorry if i asked too much :x

 

[jxmummy]

Urmm, thanks!

i try HLE loan, they say we couldn't get it .. as we both not working

lets say i apply for BTO, but i later on then apply for HLE .. is it still possible ?

then those dbss flat, condo but is under goverment , and have not't build okay, how do we view it and apply for it ?

sorry if i asked too much :x

For HLE loan, i think either you or yr spouse must be working, HDB will need yr proof of income before they can evaluate how much to loan.

As for DBSS, if i'm not wrong, you have to go down to that place where HDB is going to build, from there, you can view the 3D model estates and apply on the spot. You will also be issued queue no. if you are selected.

 

[apollo]

At least u OR ur hub must be wking in order to apply HDB flat as well as the HLE loan.

For BTO, it takes 3-4yrs for the flat to complete. But once u select the flat, you will have to pay 5% down payment. If the flat u choose is 300k, you will have to pay 15k via CPF. if you dont have tt amount in ur CPF, have to fork out cash.

 

[stonston]

BTW, do you know that owning a house is not only about the monthly installments?
Without regular income that is high enough to sustain the house plus your lifestyle, you may run into serious debt. Typically, you will need around $500 monthly just for things around the house (Town Council bill, utilities, internet, etc etc).

For BTO, they will evaluate based on your income. Too low and they will not let you buy 5-room, maybe 3-room only. Too high and they will ask you to get EC or DBSS.

For DBSS & EC, it is usually under BANK LOAN. Banks are stricter than HDB in issuing loan, so you will have more problems there, unless you can throw in cold hard cash for the whole sale amount.

Anyway, it's not to your advantage to apply for a flat now that both are not working.
If you are getting a large flat just because your FIL says so, you better beware.
Is he intending to move in with you?

 

[Ting]

Wahahahahahahaha! I can't help laughing when I saw this. Sorry but, have you even done any research at all? you wanna buy a 5 rm flat, yet, you r not even working? So how r you even going to pay for the loans and everything?
Well, of cos if you have about at least 300k (5 rm flat at some ulu place) or about 500k (better location) in cash, then ok . Shld be able to buy a flat I guess. But if you dont, then you n your hubby shld start working now and after a few years you can apply for a bto flat and if you r lucky to get a good q Number then you can get a flat in a few yrs time.

 

[apollo]

BTW, do you know that owning a house is not only about the monthly installments?
Without regular income that is high enough to sustain the house plus your lifestyle, you may run into serious debt. Typically, you will need around $500 monthly just for things around the house (Town Council bill, utilities, internet, etc etc).

For BTO, they will evaluate based on your income. Too low and they will not let you buy 5-room, maybe 3-room only. Too high and they will ask you to get EC or DBSS.

For DBSS & EC, it is usually under BANK LOAN. Banks are stricter than HDB in issuing loan, so you will have more problems there, unless you can throw in cold hard cash for the whole sale amount.

Anyway, it's not to your advantage to apply for a flat now that both are not working.
If you are getting a large flat just because your father in law says so, you better beware.
Is he intending to move in with you?

Wahahahahahahaha! I can't help laughing when I saw this. Sorry but, have you even done any research at all? you wanna buy a 5 rm flat, yet, you r not even working? So how r you even going to pay for the loans and everything?
Well, of cos if you have about at least 300k (5 rm flat at some ulu place) or about 500k (better location) in cash, then ok . Shld be able to buy a flat I guess. But if you dont, then you n your hubby shld start working now and after a few years you can apply for a bto flat and if you r lucky to get a good q Number then you can get a flat in a few yrs time.

unless ur FIL is willing to fork out 300-500K of CASH for u to buy a flat. if not, i think u will have to hold back the plan.

 

[kaitokane]

Wahahahahahahaha! I can't help laughing when I saw this. Sorry but, have you even done any research at all? you wanna buy a 5 rm flat, yet, you r not even working? So how r you even going to pay for the loans and everything?
Well, of cos if you have about at least 300k (5 rm flat at some ulu place) or about 500k (better location) in cash, then ok . Shld be able to buy a flat I guess. But if you dont, then you n your hubby shld start working now and after a few years you can apply for a bto flat and if you r lucky to get a good q Number then you can get a flat in a few yrs time.

really ? is it that funny ? thats great den, an entertainment post for you! hahas

urmm yeah, my FIL will be paying for it .. and he asked us to look around for 5 room flats .
i haven't done any research, thats why im here to ask more information

but thanks all mummys for replying :tlaugh:

 

[kaitokane]

Anyway, it's not to your advantage to apply for a flat now that both are not working.
If you are getting a large flat just because your father in law says so, you better beware.
Is he intending to move in with you?

no idea of whats he intend to do .. lols .

 

[Ting]

really ? is it that funny ? thats great then, an entertainment post for you! hahas

urmm yeah, my father in law will be paying for it .. and he asked us to look around for 5 room flats .
i have not't done any research, thats why im here to ask more information

but thanks all mummys for replying :tlaugh:

haha yes, it was very entertaining.

i think u would hv gotten MORE information from the HDB website, since u want to get a flat from hdb.
they teach u step by step in how to apply for a HDB flat. and i believe most of us got the info from there.

 

[kaitokane]

haha yes, it was very entertaining.

i think you would have gotten MORE information from the HDB website, since you want to get a flat from hdb.
they teach you step by step in how to apply for a HDB flat. and i believe most of us got the info from there.

thanks you for the informations !

 

[Gem2505]

Hi, I think either you or ur husband just find a job and get the income for the time being. when either hit 3 months employment with the company, with valid payslip and cpf contributions, you will be able to appy for the HLE loan. but the amount of loan hdn gonna give will have to depend on the salary amount. coz if u wanna apply a flat under the name of you and ur husband, you will have to get loan either from the bank or hdb else, like the others said, fork out 300-500K cash to hdb then you do not have to take any loan or pay for your monthly installment afterwhich. just have to pay for the bills and monthly expenses/charges.

meanwhile, the resale market is slowing down with lower COV now, you may want to wait a few more months to get a resale flat if u dont want to wait for 3-5years for the flat to be ready to move in. BTO prices will tend to be cheaper than outside market therefore you may consider that if you has budget limits. DBSS and EC are alil more pricey so if you dont want to pay too much monthly, dont opt for it. the most recent EC launched at buangkok went up to $600K for a 2 bedroom (hdb 3 room flat size).. upcoming DBSS at yishun estimate to be $450K for a 3 bedroom (hdb 4 room flat size).

most importantly, work out budget then choose the range of flat that is within your budget. dont overstretch yourself else you will get too stressed up. moreover, your father in law is supportive for u all to get a flat, and he is going to help out on the payments. why not? there's someone to look after baby when baby is out. spend within our ability most impt and give baby a good growing up environment is our most ultimate aim! =)

 

[keefu]

really ? is it that funny ? thats great then, an entertainment post for you! hahas

urmm yeah, [you]my father in law will be paying for it[/you] .. and he asked us to look around for 5 room flats .
i have not't done any research, thats why im here to ask more information

but thanks all mummys for replying :tlaugh:

Are you looking for new or resale flats near the area you are currently staying? And did your FIL intend to sell the current house he is staying and upgrade to 5 room?

 

[Gem2505]

I just bot a 3rm flat at west coast last friday! FINALLY! my 8th attempt to ballot a flat with HDB FAILED AGAIN N AGAIN! the most recent one, i got to know the results only yesterday. disappointed. so we decided to get a 3rm flat coz its within our budget and we are able to afford it if 1 person not working.

First appt with HDB on 22 Nov. got a little problem now coz my husband just changed job. so the HLE we applied previously, dunno can use anot. haiz! coz my approved HLE valid till 11 Nov only. emailed HDB on my issue and waiting for them to get back to me. Hopefully everything goes well man else my $5K deposit will FLY~! or we have to get bank loan already. pray hard.

but now, becoz preggy, cannot do renovation even thou we get the keys in Dec/Jan. will deliver on Feb 2011 aft CNY. in laws and parents say cannot do reno 100days after i deliver. omg. end up, we will have to leave that flat empty till next year June/July den can start reno. -_-"

 

[kaitokane]

Are you looking for new or resale flats near the area you are currently staying? And did your father in law intend to sell the current house he is staying and upgrade to 5 room?

My hubby and i guess, our fil is planning to rent the current house. not sure yet -.- hahahs . Oh, looking around for flats that is near my husband school, at lasalle ..

I just bot a 3rm flat at west coast last friday! FINALLY! my 8th attempt to ballot a flat with HDB FAILED AGAIN N AGAIN! the most recent one, i got to know the results only yesterday. disappointed. so we decided to get a 3rm flat coz its within our budget and we are able to afford it if 1 person not working.

First appt with HDB on 22 Nov. got a little problem now coz my husband just changed job. so the HLE we applied previously, dont know can use anot. sigh! coz my approved HLE valid till 11 Nov only. emailed HDB on my issue and waiting for them to get back to me. Hopefully everything goes well man else my $5K deposit will FLY~! or we have to get bank loan already. pray hard.

but now, becoz preggy, cannot do renovation even thou we get the keys in Dec/Jan. will deliver on Feb 2011 after CNY. in laws and parents say cannot do reno 100days after i deliver. omg. end up, we will have to leave that flat empty till next year June/July then can start reno. -_-"

Congratuation mummy gem )
seems like very troublesome to get a flat .. {sign}

 

[candy_ian]

Correct me if I'm wrong, I think if the flat u wanna get is under you n your husband's name then the loan wld have to b under your name too.. N unless there's sufficient income to pay for the loan it will not b approve. Unless your father in law is going to pay the full sum of 400k in cash? E.g of the flat is 400k. Cos if he owns a flat now then his name cannot b included in the new flat purchased