Singapore Expats

Hi Expertise,

3 Year waiting period for new Sg PR's to buy Resale HDB

Though it hurts badly, i can understand...

If i am planning to buy re-sale HDB under public scheme, both the PR's should have more than 3 years / any one?
I am holding PR for more than 3 years, and if my wife's PR is approved now, shall we eligible to buy now / have to wait 3 years from the date, my wife attain her PR status.

IndianPR wrote:Hi Expertise,

Though it hurts badly, i can understand...

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If i am planning to buy re-sale HDB under public scheme, both the PR's should have more than 3 years / any one?
I am holding PR for more than 3 years, and if my wife's PR is approved now, shall we eligible to buy now / have to wait 3 years from the date my wife attain her PR status.

Since one of the applications does not meet the criteria it would mean disqualification under standard terms.

However, only way to confirm is to submit a purchase application to HDB and get them to confirm.

so this is called as Wait or Run away Scheme ?

IndianPR wrote:so this is called as Wait or Run away Scheme ?

More like the My-House-My-Rules-Like-It-Or-Lump-It Scheme.

In three years time, if they lose more seats, they might change to five years waiting period. After u wait for another two yrs, ... also dun know what will happen down the road.

dun be too optimistic about the three yrs waiting...

Yes tidus,

I have already been optimistic for 8+ years and really losing hope after this annoucement...
The money comes in one hand & goes in the other ( nearly paid 120K + for land lords)... All i enjoyed is sg environment... nothing else...nothing else...

And to clarify, PR Household means latest PR who's name is on the HDB Flat (the PR with the least time as a PR must have 3 years to satisfy the requirements).

IndianPR wrote:Yes tidus,

I have already been optimistic for 8+ years and really losing hope after this annoucement...
The money comes in one hand & goes in the other ( nearly paid 120K + for land lords)... All i enjoyed is sg environment... nothing else...nothing else...

Interesting. I had never tracked how much I have spent on rent so far. I just calculated.I have already spent about 75k on rent in the last 4 years. It would have been even higher had there not been brief periods(12 months) when my wife was in India for our child birth etc and I had rented a common room.

But I have also saved about 300k SGD in the last 4 years which I wouldn't have been able to if I stayed in India or been in any other country. So I am not complaining

Frankly if you have the capital for an HDB down payment I would just over leverage it with a loanshark / lender and get sufficient to put down as down payment for a condo.

Just need to pay a higher amount towards loan repayment in two loans...

Even i can manage downpayment 20% with lns..
Can't afford the recent stamp / absd
Stamp Duty(1% for 1st 180,000 and 2% for next 180,000 and thereafter 3% +
Additional Buyers Stamp Duty (frm 12th Jan 2013) 5%

Wd40 wrote: Interesting. I had never tracked how much I have spent on rent so far. I just calculated.I have already spent about 75k on rent in the last 4 years. It would have been even higher had there not been brief periods(12 months) when my wife was in India for our child birth etc and I had rented a common room.

But I have also saved about 300k SGD in the last 4 years which I wouldn't have been able to if I stayed in India or been in any other country. So I am not complaining

I saved SGD 140k and spent 9k on rental for the 2 yrs I am in Singapore.

tidus12000 wrote:

Wd40 wrote: Interesting. I had never tracked how much I have spent on rent so far. I just calculated.I have already spent about 75k on rent in the last 4 years. It would have been even higher had there not been brief periods(12 months) when my wife was in India for our child birth etc and I had rented a common room.

But I have also saved about 300k SGD in the last 4 years which I wouldn't have been able to if I stayed in India or been in any other country. So I am not complaining

I saved SGD 140k and spent 9k on rental for the 2 yrs I am in Singapore.

We spent $250K in the 5 years we rented before we bought our property late last year..

my thread become an IR8A (Income declaration) now..
Envy on your savings

tidus12000 wrote:9k on rental for the 2 yrs I am in Singapore.

Typo I assume?

zzm9980 wrote:

tidus12000 wrote:9k on rental for the 2 yrs I am in Singapore.

Typo I assume?

No, from another thread, his spouse and child are in Malaysia and in all probability he is renting a common room or travelling from JB(unlikely)