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beaverjuice

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http://business.asiaone.com/news/should-you-apply-hdb-flat-if-youre-single-and-just-turned-35

government wants to subsidize you to become millionaires !  8)

nowhere in the world has there ever been such a scheme ...... we are lucky country!

majulah singapura !  majulah PAP !  ..... WITH YOU, FOR YOU, FOR SINGAPORE !
"A man who has depths in his shame meets his destiny and his delicate decisions upon paths which few ever reach."

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chiasmus

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Re: Should you apply for an HDB flat if you're single and just turned 35?
« Reply #1 on: March 24, 2016, 12:16:11 pm »
Please lah.. you wanna become a millionaire through buying 2rm HDB flats not say impossible but you need minimum 3 lives as only the 1st 2 purchases are subsidised. 

Without the subsidies, not much $ can be made.  And I am not even factoring in the inflation within the 5 year minimum occupation period before one can sell.
洪荒之力 >> ding ding dong dong pew pew pew pew

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kyith

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Re: Should you apply for an HDB flat if you're single and just turned 35?
« Reply #2 on: April 18, 2016, 05:16:13 am »
based on the appreciation of condos, hdb do not have the kind of appreciation, but still do.

when it comes to rental yields, the current rental yields for condo is bet 2.5-3% gross. for hdb flats after prices come down could be 5%.

hdb flats after 5 year mop if you do not move out you could stay with your parents and rent it out.

so a SK 5 room cost you $480k and @5% gross you get $24,000 Gross.

If you factor in Maintenance ($2000/yr), Property Tax (10% of Annual house value or $1200/yr est), Rise in Income Tax bracket ($1200/yr), Agent Commission (1/2 month for 12 mth lease, $1000/yr), Conservancy ($65/mth), Internet? ($40/mth), Vacancy (1/2 mth depending est $1000/yr)

Total negative cash flow $7,660.

Net Rental Income:$16,340
Net Rental Yield: 3.4% /yr

Add a 3%/yr capital appreciation your total return over time is 6.4%

This means if you keep your expenses below $1360/mth, you are financial secure, or independent
Engineer by Day, Ghost Wealth Mentor that shares his practical and philosophical experience in building & managing wealth, deconstructing financial independence and fin security. Blogs at www.investmentmoats.com

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beaverjuice

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Re: Should you apply for an HDB flat if you're single and just turned 35?
« Reply #3 on: April 18, 2016, 05:45:11 am »
Huaaaaat arrrrrrrhhhhhhhh !!!!! 8)
"A man who has depths in his shame meets his destiny and his delicate decisions upon paths which few ever reach."


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chiasmus

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Re: Should you apply for an HDB flat if you're single and just turned 35?
« Reply #4 on: April 18, 2016, 01:14:22 pm »
based on the appreciation of condos, hdb do not have the kind of appreciation, but still do.

when it comes to rental yields, the current rental yields for condo is bet 2.5-3% gross. for hdb flats after prices come down could be 5%.

hdb flats after 5 year mop if you do not move out you could stay with your parents and rent it out.

so a SK 5 room cost you $480k and @5% gross you get $24,000 Gross.

If you factor in Maintenance ($2000/yr), Property Tax (10% of Annual house value or $1200/yr est), Rise in Income Tax bracket ($1200/yr), Agent Commission (1/2 month for 12 mth lease, $1000/yr), Conservancy ($65/mth), Internet? ($40/mth), Vacancy (1/2 mth depending est $1000/yr)

Total negative cash flow $7,660.

Net Rental Income:$16,340
Net Rental Yield: 3.4% /yr

Add a 3%/yr capital appreciation your total return over time is 6.4%

This means if you keep your expenses below $1360/mth, you are financial secure, or independent
Maybe @kyith should expose uncle bj's hdb millionaire fallacy once and for all!
洪荒之力 >> ding ding dong dong pew pew pew pew

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beaverjuice

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Re: Should you apply for an HDB flat if you're single and just turned 35?
« Reply #5 on: April 18, 2016, 08:34:44 pm »
Maybe @kyith should expose uncle bj's hdb millionaire fallacy once and for all!

You jin bad .... i very nice to @kyith and always give a shout-out for his blog ....  :'(
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kyith

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Re: Should you apply for an HDB flat if you're single and just turned 35?
« Reply #6 on: April 26, 2016, 06:22:27 am »
Maybe @kyith should expose uncle bj's hdb millionaire fallacy once and for all!

@chiasmus  what is his hdb millionaire fallacy? perhaps you can remind me again haha!
Engineer by Day, Ghost Wealth Mentor that shares his practical and philosophical experience in building & managing wealth, deconstructing financial independence and fin security. Blogs at www.investmentmoats.com

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chiasmus

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Re: Should you apply for an HDB flat if you're single and just turned 35?
« Reply #7 on: April 26, 2016, 11:08:52 am »
@chiasmus  what is his hdb millionaire fallacy? perhaps you can remind me again haha!
It's too difficult to pinpoint but if you search 'millionaire' and 'HDB' within this forum, I think all the posts were made by @beaverjuice
洪荒之力 >> ding ding dong dong pew pew pew pew

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