I've seen many who upgraded to a bigger bto or even brand new condo. They suffered cancer and passed away even though the units appreciated. Probably they overworked and neglected their health. The profits gained were not even enough to pay for medical expenses. One vivid case died unmarried and his brother inherited everything. Besides I've also witnessed couples who ended up in divorce. A shortsighted money driven lifestyle will end up in great disappointment.

@joshconsultancy

2 ай бұрын

Not advocating for lifestyle inflation. This tutorial is to suggest SG couples (if they still qualify) to ballot bto while staying in current hdb flat It helps them financially and cashing out money for retirement can be done in the process as explained in the two examples

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probably can do a video on whether bto or ec is a better buy for hdb upgrader.

@joshconsultancy

2 ай бұрын

Upgrading to Ec would definitely work also. The gains after MOP are a definite. % wise which better hard to say so I’d suggest go with either as long as mortgage doesn’t cause financial stress?

@nigeldcruz1195

Ай бұрын

​@@joshconsultancyissue with the EC approach is that when at retirement sell n go back to HDB is not an easy lifestyle move. I seen many seniors do that and somehow even with the money gained, they are still unhappy moving from condo to hdb. Could be possibly the perceived status downgrade or lifestyle change. Cannot imagine going through that at 60 plus

I bought a 3rm bto for 110k, sold for 408k then Bought my 2nd 4rm bto for 285k +30k Upgrade for free n cash back after fully paid for all

@joshconsultancy

2 ай бұрын

There! That’s what I was trying to explain. Well played, congrats 👍

@barttan9968

2 ай бұрын

Cause my 3room bought at a very affordable price so I'm able to clear the loan in a Yr. So me and my wife able to accumulated more money at our cpf ordinary acc, thus we get back much more cash.

Hi Josh. What is your advice to people who bought a resale flat? Still to try ballot for a BTO and then sell the current home? If yes, how many years into owning the current house before trying to ballot for the BTO?

@daniell8882

2 ай бұрын

great qn - love to know too

@joshconsultancy

2 ай бұрын

Hi, i assume can only start applying after MOP which is 5y (to be confirmed) Also assume you've taken resale grants? If yes considered 2nd timer. Start balloting early. Gonna need some luck. Stay in current place first and be super patient. Dont need to sell home if Im not wrong if & until you take your bto keys. For anyone reading, 2nd timer application oversubscription is high. Non mature estates are better in odds.

@alee4141

Ай бұрын

Need pay levy?

2nd Timer SC must Tikum n be very HENG ! My 02 old neighbours downgrade to 2rm new flat as demand very low . One current owned 5rm flat in Jur West while the other owned 3rm flat near Toa Payoh .😊

@joshconsultancy

2 ай бұрын

Yes need luck!

hard to get BTO as a second timer.

buying bto as 2nd timer is almost near zero chance with hdb capping allocation to 2nd timers and plenty of priority scheme granted. nevertheless, a great idea but in practical does not really work unless u are damn lucky. buying EC as 2nd timer based on current rule of MSR financing rule is the best option where it is almost guaranteed to get it for 2nd timer provided u have huge cash upfront. new ec selling 1400++ psf where ocr new launch selling around 2000 psf. there will have huge pool of bto upgrader to support resale ECs pricing. Altura, Lumina grand both are great new ECs within 1 km near future ACS. bearing in mind also these days some ECs does not come with 1 to 1 car park lots like Lumina grand. some buyers would walk away from such project because they don't want to end up fighting for parking as some owners would have more than 2 cars. Altura has 1 to 1 carpark lots ratio which makes it a better choice in this respect.

@joshconsultancy

2 ай бұрын

Yes it needs some luck. Agree on upgrading to the EC part.

Is there a age limit when applying as second timer? Do they still get grants?

@joshconsultancy

2 ай бұрын

Dont think got age limit under family scheme. Age may impact loan eligibility though

Do you have any suggestions or thoughts with regards to some of us that sold the first flat before 2006 which resale levy is based on 22.5%-25% of the unit sales (4-executive room). This is hefty and amount paid is cash out of pocket and may never be gotten back unless the new BTO unit can be sold again or maybe more than 5 years pending criteria as well. Looking forward to your thoughts. Thanks Josh.

@joshconsultancy

2 ай бұрын

Hi, I haven’t heard of the resale levy in the period actually🙏. Guessing based on the timeline, that second house of yours is almost 20y back. It would have also risen in value significantly. Count the blessings. Rather than look back maybe play the cards ahead for retirement 👌🏻👍

@connectasia7724

2 ай бұрын

@@joshconsultancy yes, trying to look forward but the ruling does not change for those flats sold before 2006. It’s the factor for consideration and hence became an issue for anyone contemplating. Thanks.

@junjun906

2 ай бұрын

for buyer before 2006, there is not much of a solution. but if you are above 55, and if you buy 3 room BTO and below, they give promotional rates (ie no annual 5% interest) but still about 22.5-25% of selling price must be paid. the equivalent of 25% ssd. this will kill any gain. therefore i would recommend you to forgo bto or EC but instead straight away go to resale HDB, or condo.

It made total sense for the seller. Sorry for th buyer. Greed or so call strategy to make a pot of gold has made HDB resale price to become inflated. Medium fish eat small fish..

U probably also left this out: [As Singaporeans, we are eligible to purchase two HDB Build-To-Order (BTO) flats.]

@joshconsultancy

2 ай бұрын

Yes correct. Subject to income ceiling and prepare resale levy budget

@chiweitan96

2 ай бұрын

The chances of getting a second BTO is 5%

My parents signed up for LBS for their 3 room flat and passed away before I can get a BTO to move out. Last year I was not allowed to take over the LBS unit (rule changed this year) and it is not financially wise to do it. Due to time and laws limitation, I am unable to wait for new BTO and is forced to buy a resale flat asap. I become the Cai Tao for PRs to earn profit while they got a BTO. Thanks SG govt.

@joshconsultancy

Ай бұрын

Take care take care

@Guyontheinternet_

Ай бұрын

PRs cannot buy BTO though only Singapore citizens can

I feel like we always assume that someone out there would pay that much for a flat especially when you got yours cheaper. To me if i know you got it for that then, and now selling at double with lower lease left, i wouldnt choose that flat. But maybe someone out there would but its kinda risky to assume there's gonna be profit involved.

@joshconsultancy

2 ай бұрын

Hmm? Bto are sold at a discount. The downsides are waiting period and balloting (which for a family staying in an existing place already can wait)

from first timer resale hdb to bto means 3years waiting and completion plus 5years mop。total 8years. how abt upgrade to resale.condo n flip 2times

@joshconsultancy

2 ай бұрын

Flipping part is only when the market is on an uptrend. This sharing “I found Freehold condo losses…” kzread.info/dash/bejne/oIuJ1pSEo8_LmtI.htmlsi=nIK9bQyU7c21PR7k

@elinselin

Ай бұрын

@@joshconsultancyis flipping still advisable in today’s market? Thinking of doing so instead of waiting for bto/ec as our flat has mop-ed..

For those who bought resale hdb need to stay for 5 years then mop. By the time mop, the couple income will exceed 14k..sadly..ec is never anoption as family parents siblings all stay in mature estate.

@joshconsultancy

2 ай бұрын

Income exceeding $14k is good news. This tutorial is tailored to the median income family who I feel can benefit balloting

@zc8077

Ай бұрын

@@joshconsultancy yup. But it is not benefiting couples who are older at 35 yrs and above and intend to get married. There is not many option. Assuming the need to stay near parents at qnstwn/redhill area. Condo is too overpriced and for resale hdb can borrow only 800k and cant go for four room flat..and not allowed to get bto also..this group is ignored. Ik btw, thought its common to have slightly more than 14k combined income for this age. Based on your stats in your previous videos.

But some of the new bto locations are terrible, 5rm size like old 4rm...for the next 15-30yr, imagine the extra 😂 transport cost and time.

@joshconsultancy

2 ай бұрын

Non mature. Thats why the building up pains but hey there is an appreciation in the end

Hi Josh, if I am correct, once you own a HDB, you cannot get a new BTO from HDB. Can only get a resale HDB. The benefits will be smaller.

@joshconsultancy

2 ай бұрын

Hi Desmond, you can get NEW BTO! The two stories of friends own existing resale. They have balloted gotten their BTOs Thats why Im describing that it makes total sense. Subject to income ceiling and prepare resale levy budget k

Right after retirement (to get below income limit), Q for new EC while selling off current condo. After 8 years, sell off EC make $500k and then buy new BTO. Final time of moving should be around 72 - 75 yo 😂

@joshconsultancy

2 ай бұрын

Smart! Well played! 😂 And I actually support this "Final time of moving should be around 72 - 75 yo" !

Joke sia. 2nd timer gets up to 5% of the supply. For every 1000 units, there is only 50unit to split among all 2nd timer applicants. Did u check the applications rates?

@joshconsultancy

2 ай бұрын

Be nice thanks. Yes need some balloting luck. For anyone reading, application oversubscription is high for second timers. Non mature estates are better in odds.

@TG-bq7rt

Ай бұрын

Kenna second timer bto….it isn’t joke 😂

What abt Singles?

@joshconsultancy

2 ай бұрын

Single the bto purchase is only for 2rm. Income cap $7k to note also. Upgrading and making money in process may not apply fully 👌🏻

@ktoh6490

2 ай бұрын

It’s a sin to be single in sg. lol.

i have seen many successful Punggol stories. buy HDB bto then upgrade to Punggol 4BR EC. double gain. :) from 200k BTO become 1.9mil EC.

@joshconsultancy

2 ай бұрын

Yup I know what you’re talking 👍