How much shd i bid for COV
- Thread starter bedokboy
- Start date
miloice
Well-Known Member
"don't discount the effect of many Singaporeans having more than 1 property.
Personally I know of many people.. bought HDB then rent out at 2k+ to FTs while they continue to stay with parents/in-laws."
sm, that is not having more than 1 property. Its what Singaporeans do to generate more income to upgrade. Having more than 1 property is more relevant to those that owns both HDB and private.
Personally I know of many people.. bought HDB then rent out at 2k+ to FTs while they continue to stay with parents/in-laws."
sm, that is not having more than 1 property. Its what Singaporeans do to generate more income to upgrade. Having more than 1 property is more relevant to those that owns both HDB and private.
ya, that's y i m saying govt will bring COV down. That is a problem.
Don't expect hdb price to come down though. This can happen only if ppl sell below valuation. And if you are familiar with HDB, you'll know that HDB put in some obsticles to prevent ppl selling at below valuation. Basically they will check many things and give u a "consuling session".
For 1st timer, new flats (they are given 95% allocation) and grant is given.
Don't expect hdb price to come down though. This can happen only if ppl sell below valuation. And if you are familiar with HDB, you'll know that HDB put in some obsticles to prevent ppl selling at below valuation. Basically they will check many things and give u a "consuling session".
For 1st timer, new flats (they are given 95% allocation) and grant is given.
Milo,
Yes, correct technically. But these people bought new from HDB - never stay in them.. Rent out whole unit and has been staying in parents ever since.
Yes generate more income.. but remember the main pricinple of HDB is to stay in - especially the new ones. For those who are overseas still can accept.
But these people are putting pressure on the demand/supply - they don't need a HDB to stay in and yet they want one. Main purpose is not to generate additional income. By they way, some of these people are rich.. but to them having a new HDB from govt is their right and it is stupid not to exercise this right.
Yes, correct technically. But these people bought new from HDB - never stay in them.. Rent out whole unit and has been staying in parents ever since.
Yes generate more income.. but remember the main pricinple of HDB is to stay in - especially the new ones. For those who are overseas still can accept.
But these people are putting pressure on the demand/supply - they don't need a HDB to stay in and yet they want one. Main purpose is not to generate additional income. By they way, some of these people are rich.. but to them having a new HDB from govt is their right and it is stupid not to exercise this right.
Thomas,
it depends on where u stand... if u have bought a HDB already, then the rising price puts a smile on your face. even if u have not bought, your parents have a smile on their face... their ability to unlock their HDB later on, would directly benefit u becos they would not be entirely dependent on u for finances.
i think the FT issue should be done and dusted. i see them Increasing the value of our homes, the value of our companies, the profitability of some businesses, the economy in general benefits.
in anything, someone loses. the pple who lose here, would be those who are looking to buy their 1st HDB... these are a small number compared with the overall benefit for the general population. these young couples who are disadvantaged, are currently being aided by the latest move, but do note that their parents/siblings might already have HDBs and they will gain. it is hard to break-down and give happiness to each individual sporean.
IF u have already missed out on pty, then the alternative is to chase opportunities of increasing your income.
it depends on where u stand... if u have bought a HDB already, then the rising price puts a smile on your face. even if u have not bought, your parents have a smile on their face... their ability to unlock their HDB later on, would directly benefit u becos they would not be entirely dependent on u for finances.
i think the FT issue should be done and dusted. i see them Increasing the value of our homes, the value of our companies, the profitability of some businesses, the economy in general benefits.
in anything, someone loses. the pple who lose here, would be those who are looking to buy their 1st HDB... these are a small number compared with the overall benefit for the general population. these young couples who are disadvantaged, are currently being aided by the latest move, but do note that their parents/siblings might already have HDBs and they will gain. it is hard to break-down and give happiness to each individual sporean.
IF u have already missed out on pty, then the alternative is to chase opportunities of increasing your income.
i'm just happy that I should be having a roof over my head that I own now. I can now focus on my career (again). Yes and no to anyone who says I do not have the tenacity to cope but just sharing that I am relieved I can now focus on progressing other aspects of my life.
I'm also glad that as a Singaporean (albeit a single one) I finally have something to my name and hopefully I will go from strength to strength here.
I'm also glad that as a Singaporean (albeit a single one) I finally have something to my name and hopefully I will go from strength to strength here.
just to clarify... PRs can't complete for balloting cos they are not eligible for new flats. they need to stay in SG for more than 2 yrs before they can apply for citizenship. Citizenship application takes another approx. 1 yrs assuming everything goes smoothly (yes, govt do reject quite a bit of citizenship applications). by then, most of them already chose to buy resale cos they simply can't be renting for so many years.
As for completing for resale flats, during my hunt for flat, my observation is that locals are completing on equal ground with PRs. There were many times that we were out-bid by cash rich locals.
and for the mature estates, most of them are undergoing different forms of upgrading. PRs won't even consider these areas cos they have to pay for high upgrading price. So for the prime areas like Holland, Clementi, Redhill etc that i have viewed (sorry my examples are all from west side), all the flat viewers are locals and they are the same pple that chiong for high COVs in these areas. Then where you find the PRs? usually in area like Jurong West, where location is more ulu but flats are newer and they dun need to think abt upgrading cost.
what i am trying to say is... Singaporean locals are equally responsible in pushing up the price, dun blame it on PRs alone. Real problem is the lack of supply (controlled by govt). greedy sellers are leveraging on this lack of supply to their advantage.
just btw, i myself is a PR. while i am expecting a lot of firing to what i am saying here, i just want to provide some facts and a different perspective that is generally lacking in most of the forums/discussions i have read.
As for completing for resale flats, during my hunt for flat, my observation is that locals are completing on equal ground with PRs. There were many times that we were out-bid by cash rich locals.
and for the mature estates, most of them are undergoing different forms of upgrading. PRs won't even consider these areas cos they have to pay for high upgrading price. So for the prime areas like Holland, Clementi, Redhill etc that i have viewed (sorry my examples are all from west side), all the flat viewers are locals and they are the same pple that chiong for high COVs in these areas. Then where you find the PRs? usually in area like Jurong West, where location is more ulu but flats are newer and they dun need to think abt upgrading cost.
what i am trying to say is... Singaporean locals are equally responsible in pushing up the price, dun blame it on PRs alone. Real problem is the lack of supply (controlled by govt). greedy sellers are leveraging on this lack of supply to their advantage.
just btw, i myself is a PR. while i am expecting a lot of firing to what i am saying here, i just want to provide some facts and a different perspective that is generally lacking in most of the forums/discussions i have read.
miloice
Well-Known Member
Ellen, it depends which category of PR and FT you are referring to. The expats are well enumerated. Several of my colleagues from HK are easily drawing enumeration 2 times mine. And he has all the housing benefit enabling them to rent condos in prime distincts. As part of the HR policy, all expats would progressively be converted to local terms.
His housing benefit has been half now and he is considering to buy a place and continued to be subsidized with 50% of the housing benefit for some years before completely localizing. So, tell me, how can we be competing on the same level ground. We are team-mates with similar job-scope and work experience.
And my boss tell me, I cannot compare with the expat package. For sure, the local package is poorer.
His housing benefit has been half now and he is considering to buy a place and continued to be subsidized with 50% of the housing benefit for some years before completely localizing. So, tell me, how can we be competing on the same level ground. We are team-mates with similar job-scope and work experience.
And my boss tell me, I cannot compare with the expat package. For sure, the local package is poorer.
Milo > i m from HK too, i will say that cases like your colleagues do not make up the majority. most PRs working here are normal working pple like you and me. i m drawing local package all the while, btw.
from what i understand from my other friends, in most cases, once they convert to PR and contribute to CPF, the housing packages will be withdrawn. Rationale: when they are on EP, they do not get employer's CPF contribution. So company use this money to make up and become their housing benefit. Once become PR, employer contributes to CPF which supposedly can be used for housing purpose, and the housing benefit is withdrawn.
The PRs with high cash are those that sell everything back home and come to SG. these pple are normally cash rich and CPF poor, while locals are the other way round. in this light, you can say that they do have a slight advantage, as they have more cash to be flexible and decide whether they want to use the cash for downpayment or COVs. Hence, many of them go for places where flat valuation is lower, so that they can chiong on high COV and still maintain a relatively low overall flat price.
Also dun forget a large no. of PRs are pple that studied in SG and subsequently work here, or young pple that come straight to work in SG after graduation. These pple are in no better situation compared to locals - equally cash poor
As i mentioned, i hope to provide some alternative information becos i observed that many of the info provided on channels like internet forums are very one-sided, with mainly locals stating their frustration and no PRs dare to clarify their situations.
from what i understand from my other friends, in most cases, once they convert to PR and contribute to CPF, the housing packages will be withdrawn. Rationale: when they are on EP, they do not get employer's CPF contribution. So company use this money to make up and become their housing benefit. Once become PR, employer contributes to CPF which supposedly can be used for housing purpose, and the housing benefit is withdrawn.
The PRs with high cash are those that sell everything back home and come to SG. these pple are normally cash rich and CPF poor, while locals are the other way round. in this light, you can say that they do have a slight advantage, as they have more cash to be flexible and decide whether they want to use the cash for downpayment or COVs. Hence, many of them go for places where flat valuation is lower, so that they can chiong on high COV and still maintain a relatively low overall flat price.
Also dun forget a large no. of PRs are pple that studied in SG and subsequently work here, or young pple that come straight to work in SG after graduation. These pple are in no better situation compared to locals - equally cash poor
As i mentioned, i hope to provide some alternative information becos i observed that many of the info provided on channels like internet forums are very one-sided, with mainly locals stating their frustration and no PRs dare to clarify their situations.
what irked me most was that time when I was viewing a showflat at TPY, there was this china couple in the flat and the guy exclaimed loudly, 'WAH, place so small and yet so expensive??? Back in china we can buy land and build our own bungalow with this money!'
At that very moment I almost lost my cool and my wife had to restrain me from telling him to go back to china and buy his bungalow and stop competing with us locals for a roof over our heads.
At that very moment I almost lost my cool and my wife had to restrain me from telling him to go back to china and buy his bungalow and stop competing with us locals for a roof over our heads.
Thomas > LOL you are really suay to meet this kind of pple. and mind you, there are 10 times more of these pple in HK compared to SG :x sighz.
Okie lahz we shouldn't be racist here :X there bounded to be irritating pple in all parts of the world...
anyway, dunno where they come from. my fren from Shanghai told me, SG's housing is more affordable compared to Shanghai................
Okie lahz we shouldn't be racist here :X there bounded to be irritating pple in all parts of the world...
anyway, dunno where they come from. my fren from Shanghai told me, SG's housing is more affordable compared to Shanghai................
thomas, he Isn't wrong in making that statement.
we have locals who talk abt how they can buy houses overseas with the same money too, dun we? and cars too...
the statement isn't wrong, i have no idea why u'd be offended, or feel the right to be offended... other than figuring that u have something against foreigners.
he and u are buyers.
we have locals who talk abt how they can buy houses overseas with the same money too, dun we? and cars too...
the statement isn't wrong, i have no idea why u'd be offended, or feel the right to be offended... other than figuring that u have something against foreigners.
he and u are buyers.
powder, I didn't say he was wrong in making that statement...he's entitled to his own views too BUT at the very least, keep his volume down when making this kinda snide remarks. Really made me feel damn pissed off that day when I heard him talking so loudly to his wife, totally oblivious to others.
ok mah, if anything, he's helping u keep the seller from trying to sell too high.
now i would understand if he said it's So Cheap... but not if he's standing on the same side.
to put things in perspective, he is complaining no more than u, just tat he is louder... both of u share the same opinion on prices... so the only thing u can logically be angry abt would be his volume.
i get the feeling that your anger is more than just on his volume.
u should explore this aspect of yourself... it will be the trigger point for u to ever lose grip on yourself.
now i would understand if he said it's So Cheap... but not if he's standing on the same side.
to put things in perspective, he is complaining no more than u, just tat he is louder... both of u share the same opinion on prices... so the only thing u can logically be angry abt would be his volume.
i get the feeling that your anger is more than just on his volume.
u should explore this aspect of yourself... it will be the trigger point for u to ever lose grip on yourself.
sgbabydoll
Active Member
It's OK lah. I have never bought a flat with subsidy or grant. NEVER hor. But I am still smiling.
powder, it was a showflat we were viewing, not resale. there were other couples and families in the same flat at that time also. to make that kinda remark so loud, don't you think it was very insensitive of him? I personally thought so.
doll, me too...all on our own.
milo, not that I'm bothered where his hometown is...
doll, me too...all on our own.
milo, not that I'm bothered where his hometown is...
sgbabydoll
Active Member
"All by myself.....I wanna be all by myself....."
Got one song with lyrics like that. Cool mah.
Got one song with lyrics like that. Cool mah.
sgbabydoll
Active Member
Thomas, it's cool to be independent mah.
Thomas,
hehe no, i dun think it's insensitive to say the place expensive IF most of u think the same way.
if most of u find it expensive And he says it's cheap... then yes, i would think abit insensitive. anyway it's their remark... nothign wrong with that remark since it's true.
k lah, we just dun see it the same way. i wouldn't be perturbed at all.
hehe no, i dun think it's insensitive to say the place expensive IF most of u think the same way.
if most of u find it expensive And he says it's cheap... then yes, i would think abit insensitive. anyway it's their remark... nothign wrong with that remark since it's true.
k lah, we just dun see it the same way. i wouldn't be perturbed at all.
sgbabydoll
Active Member
Bedokboy, grats to you on your bachelor pad hehe
sgbabydoll
Active Member
Sure, Bedokboy. Do you intend to move in as soon as you get the keys? If yes, may have to start planning for your reno earlier. For me, I am not in a big hurry and intend to move in end of this year. I only started looking at reno after I got the keys. My reno is still ongoing hehe
hacking involved, sure abit more... i do suggest u do the Frameworks on priority. the rest can add on. walls n stuff, is wat i consider framework... those are things which u need to do first. furniture and stuff Highly unimpt... u can do it much later or live on 2nd hand ones first... can just re-upholster... in any case, old furniture can add some character and are quite sturdy...
sgbabydoll
Active Member
Bedokboy, when was the last time the wires were done? Need not rewire if it's a few years old only.
You can do the built-in kitchen cabinet later. The more important things are floorings, walls (tiling and painting), wiring and piping.
You can do the built-in kitchen cabinet later. The more important things are floorings, walls (tiling and painting), wiring and piping.
sgbabydoll
Active Member
Ellen is right. Kitchen and 2 toilets involve wet works. It's $15K or thereabouts.
funtasty_funtasty
New Member
bedokboy,
share with you, my reno cost 22k includes:
- hacked down everything in kitchen and 2 toilets, wet works,re-tiling
- kitchen cabinets
- shower screen for MBR toilet
- whole house re-wiring, painting
wanted to do whole house but quotation total to abt 40 - 50k...so oni did partial..
share with you, my reno cost 22k includes:
- hacked down everything in kitchen and 2 toilets, wet works,re-tiling
- kitchen cabinets
- shower screen for MBR toilet
- whole house re-wiring, painting
wanted to do whole house but quotation total to abt 40 - 50k...so oni did partial..