Stuck in housing limbo despite higher ceiling

[Acemundo]

seems to be with everyone.

 

haha are you a bash or bicker bait

[Maroon5]

seems to be with everyone.

 

dunno lei, there jus seem to b a few individuals here who are overly concerned w material issues. to them heres like mycashforum

[Aimnfire]

There is always this thing call RENT.

 

thats what he dont want

he want to eat the whole cake

and when he cant get it

he say the whole world is against him

[I-LOVE-CARS]

DBT combined income just less then 12k cannot rent a flat for 2 years siboh, got PP liao then now wan downgrade to EC then ask them wait still kpkb, give those 1st and 2nd timer a chance lah, so rich yet so stingy...cannot understand some Singaporeans...

[Mockngbrd]

that's why i suspect it is a flame bait

i agree... ST forum trolling

[Joseph22]

haha are you a bash or bicker bait

no lah.. i found out with the the tone part missing, my posting look very offensive/defensive.

 

hence the misunderstanding i guess.

Edited September 7, 2011 by Joseph22

[Joseph22]

dunno lei, there jus seem to b a few individuals here who are overly concerned w material issues. to them heres like mycashforum

in singapore car is expensive

[Throttle2]

ST Forum

Stuck in housing limbo despite higher ceiling

 

MY WIFE and I were delighted when Prime Minister Lee Hsien Loong announced that the income ceiling would be raised to $10,000 and $12,000 for new build-to-order (BTO) flats and executive condominiums (ECs) respectively ('HDB raises income ceiling to $10,000'; Aug 15).

 

We checked the HDB website several days later but discovered that we were once again ineligible to apply for ECs even though our combined income falls below $12,000. That is because of a clause stating that an applicant cannot own any private property 30 months prior to EC application.

 

We are prepared to sell our private property to apply for an EC. However, requiring us to sell it 30 months before applying for an EC does not make sense.

 

Where will we stay for 21/2 years? In fact, if one includes the time taken for construction of the EC, we would have to spend at least five years renting a place or living with our parents.

 

We have a toddler and plan on having another child. The waiting period will surely disrupt their education and childcare.

 

Two years ago, we did not qualify because our combined income exceeded $8,000. With sellers seeking cash-over- valuations of between $60,000 and $90,000 in our preferred location - near both our parents' homes - we were forced to buy a small private condominium apartment that was selling at valuation as we did not have enough cash.

 

The inescapable irony was that we qualified for a bank loan to buy a private property but did not have enough cash to buy a subsidised public flat. Being forced to buy a private home saddled us with a whopping $600,000 loan.

 

We are toying with the idea of selling our private property as our joint income is just below the income ceiling for now, but we are uncertain if we will still be earning the same income 30 months from now.

 

All we want is to live in a home we can afford and, yet, we are caught in a predicament.

 

We think this could be our last chance to buy a Housing Board flat. We hope the Government would consider revising this rule for the sandwiched class.

 

Lim Chong Wee

 

 

Lim Chong Wee,

 

you got a Farking private property, just farking stay in it. now income ceiling raise you want to take advantage and cash out and buy govt housing.... who ask you to buy private property when your income is so farking low? cannot buy resale HDB like other people meh? forced to buy private property? muayhahaha, how come people dont force me to buy30,000sft detach?

 

Sandwiched? you ask for it.

You wanted the world of convenience and the price you can pay for.

you wanted chee, pee and tua liap nee.

Now take responsibility for the decisions you take.

 

 

 

 

 

[Sabbie]

Lim Chong Wee,

 

you got a Farking private property, just farking stay in it. now income ceiling raise you want to take advantage and cash out and buy govt housing.... who ask you to buy private property when your income is so farking low? cannot buy resale HDB like other people meh? forced to buy private property? muayhahaha, how come people dont force me to buy30,000sft detach?

 

Sandwiched? you ask for it.

You wanted the world of convenience and the price you can pay for.

you wanted chee, pee and tua liap nee.

Now take responsibility for the decisions you take.

 

haha, you should reply to him via ST la...do you think he like us so free got time to surf mcf? he is busy working to support his condo...

[Kyrios]

So anyone can confirm that after selling private can still buy resale without waiting for 2.5 years?

[Darryn]

Read the straits times today on the rules for EC...

 

Wah man - the rules don't seem quite right to me. I think the way they are structured there is sure going to be problems down the line. An EC is a great compromise - EXCEPT, I don't think it should be privatise. Like that it is introducing strange influences into the market that I think will end up screwing it up.

 

[Tigerwoods]

Lim Chong Wee,

 

you got a Farking private property, just farking stay in it. now income ceiling raise you want to take advantage and cash out and buy govt housing.... who ask you to buy private property when your income is so farking low? cannot buy resale HDB like other people meh? forced to buy private property? muayhahaha, how come people dont force me to buy30,000sft detach?

 

Sandwiched? you ask for it.

You wanted the world of convenience and the price you can pay for.

you wanted chee, pee and tua liap nee.

Now take responsibility for the decisions you take.

Do you always need to rub such remarks into your posts ?? Very HowLian leah...

[Sabbie]

Do you always need to rub such remarks into your posts ?? Very HowLian leah...

 

he got the ability then let him haolian lor...at least he got the money mah....not like us mere mortals

[Vtec78]

if u have enough cash and cpf, u can buy resale hdb. u have 6 months to sell off the private after getting your resale hdb. feel free to pm me if u need more advise.

[Ivan_06]

So anyone can confirm that after selling private can still buy resale without waiting for 2.5 years?

 

from HDB, can!!!

 

You can own private property (unless you are applying for a CPF Housing Grant and/or an HDB loan).

 

However, you, your spouse and any occupiers listed in the resale application must dispose of any interest in any private residential property within 6 months from the completion of the purchase of the resale flat.

[Acemundo]

Read the straits times today on the rules for EC...

 

Wah man - the rules don't seem quite right to me. I think the way they are structured there is sure going to be problems down the line. An EC is a great compromise - EXCEPT, I don't think it should be privatise. Like that it is introducing strange influences into the market that I think will end up screwing it up.

somehow i agree with you. when i read this in morning papers, the first thought in my mind was also that something is wrong with the scheme and not so much about going on a witch hunt to berate our dear lim chong wee for wanting to have the cake and eat it too.

 

if they indeed have the rule that one can only buy a first hand ec after disposing pte ppty 2.5 years then i question the logic of this rule. and also with the poorly crafted rules governing EC/DBSS which is essentially a hybrid of HDB and private property system, our MND adminstrator runs into all sorts of complaints along the way.

[Sabbie]

if u have enough cash and cpf, u can buy resale hdb. u have 6 months to sell off the private after getting your resale hdb. feel free to pm me if u need more advise.

 

Can I buy a resale hdb first, then 1 month later buy a private property?

[Old-driver]

Can I buy a resale hdb first, then 1 month later buy a private property?

I thot u property agent? u should know the cans and cannots