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Showing posts with the label Housing

Home Loan Interest Rate Up

https://www.businesstimes.com.sg/banking-finance/dbs-raises-2-year-fixed-home-loan-rate-to-275-per-annum-highest-among-local-banks https://www.channelnewsasia.com/singapore/mortgage-rates-singapore-rise-what-should-homeowners-do-cna-explains-fed-hike-2781191 "Maybank economists Chua Hak Bin and Lee Ju Ye said that with the Fed’s latest dot plot guiding for another 175-basis-point rate hike to 3.5 per cent by the end of the year, the three-month SIBOR could reach 3 per cent at end-2022 and the three-month SORA may rise to 2.75 per cent. " "Singapore corporates and households should brace for a big interest rate shock , as Singapore short-term interest rates will move sharply higher given the Fed’s aggressive rate hikes" "Mortgage rates could climb to about 4 per cent by year-end – levels not seen for almost two decades. Rising financing costs will likely eat into consumer budgets and cool the property market." If you look at the following link, the curren
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5-room HDB @ Henderson Sold for SG$$1.4M

https://www.asiaone.com/money/sold-14m-sellers-singapore-s-most-expensive-hdb-flat-may-be-walking-away-cool-650k-profit Wah, now HDB worth so much, not sure if really worth so much or just inflation, reading up about Bitcoin and money made me realise that we are living in an inflationary money system, the price of everything will only keep going up because governments will keep printing money in order for the economy to grow, that's not a problem if salary can keep up, but usually that's a problem. On the bright side, I just checked my 2-room resale prices, seems to have gone up too, I think by the time I sell for my new Tengah flat, it might be able to cover my existing loan, and I can use the rest plus my CPF to fully pay for the Tengah flat.
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DIY Upgrade Water Pipe System

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The red switch is spoil already so it doesn't work, so whenever need to replace the water pipe, need to turn off the entire water supply from outside my flat, damn troublesome. So yesterday I bought some parts and replaced it myself, there's actually 3 new parts, first one is the L-shaped to bend it outwards so that it will be easier to work with in future. Second is the new switch, see the grey switch. Finally is the split which allows two water flows; one to basin and one to hand spray. The 3 parts I think around S$3+ to S$4+ each, so total S$10++. Plumbing sure is very tough work, cut my fingers too, no wonder they charge so much for the labour, but if don't want to pay then just DIY haha. Just take note that plumbing service expensive is due to the labour, not the parts, the parts actually doesn't cost much, especially these days a lot of these parts come from China, mass produced and easily available, but quality is good.
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VILLA MAYAVEE in Phuket

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Recently saw this video, so amazed by it, wish I can have a house like this haha, no money to buy dream also not bad.
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Update on Kitchen

https://marrythaigirlsingapore.blogspot.com/2020/11/bought-new-kitchen-and-kitchen-table.html Very satisfied with this new kitchen, this open concept is kind of cool, can see everything, if dirty can tell easily and clean up easily, should have got this from the beginning, I think when we move to new flat, definitely going to get this same kitchen or something similar. That's what I call cheap and good. I still like movable, no-need-to-dismantle furniture, for example wardrobe, don't like the built-in type, same rationale, if spoil or what need to dismantle, movable type just throw the whole thing away, way easier.
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Bought New Kitchen and Kitchen Table (sort of)

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So yesterday had a body-aching-day, today not any better. Went to IKEA and bought SUNNERSTA kitchen (S$223) and FLYTTA kitchen trolley (S$249) which is actually our kitchen table. The SUNNERSTA has two versions, one is rack + sink, the other is rack + sink + water tap + pipe, I bought the latter. The assembly of the FLYTTA (S$249) was alright, only tool that they didn't provide is a large cross screw driver, other than that everything else was quite straightforward. Love this trolley-table, I think everybody should just get trolley-tables, so convenient. The assembly of the SUNNERSTA is seriously wtf, other than a large cross screw driver, also need a pipe cutter, wife went to buy a small hand saw just for this, S$7+. Don't understand why they didn't just pre-cut it, and they didn't say anything about how much to cut, only a picture to give a super rough idea. And the part (2 piece push together) that attach from the back of the sink to the bottom of the sink, geez spe
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Dismantled Lower Cabinet, Replaced Burst Water Pipe

Today my wife keep nagging me about the kitchen sink (been nagging for a long time, geez), it has been leaking since forever, waiting for my father to fix but I think he is busy so don't want to keep chasing him, I know right, I don't like it when people keep chasing me. So I thought it's time I took things into my own hands. I personally dismantled the lower cabinet, wasn't as bad as I thought because the cabinet was wet throughout so it was easy to break apart, it's all just hard labour, damn tiring, breaking it down, carry it downstairs to throw, clean up, phew. The result is an empty space, the wall looks super disgusting so I won't post any picture, have already washed but can't get rid of the stains, so we will probably just paint over it. We are thinking maybe can get a SUNNERSTA from IKEA, and a small table, so tomorrow will drop by IKEA to take a look. Then when I thought one thing settled, the shower water pipe burst, like wtf man. I went online an
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Just Notice HDB Returned My Option Fee

http://marrythaigirlsingapore.blogspot.com/2020/07/finally-signed-lease-agreement.html So I signed the lease agreement on 03 Jul 2020, just checked my bank statement they GIRO in on 14 Jul 2020, so around 11 days or so, or you can say within 2 weeks. My option fee was S$1000, for a 3-room flat. Just sharing for those curious. Stay safe!
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Finally Signed the Lease Agreement

Now still have covid-19 measures so the entrance they restrict to one, can only enter from the bus terminal side, then the usual scan and scan stuff. After that take a queue number, a staff is there to assist if not sure what to do, then go up level 3 to a some sort of temporary holding area. Then didn't have to wait too long, our number was called, after that my parent's number, we went to one counter each, signed a whole bunch of documents. For me no need to pay any cash, they will deduct 5% from my CPF account, S$15,225.05. For my parents they had to pay S$939.55 cash because they haven't pay the down payment, I think theirs is a special case because they can't use their CPF to pay, so I paid for them. Also they cannot take back the option fee of S$500 today, only when they pay up after they sell current house then can take back, my S$1000 I can take, they will credit to me in 1 month's time. By the way parent is 2-room, mine is 3-room. So now just wait for flat
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Signing Lease Agreement Tomorrow

This week returned to office, I think more or less back to some normal already, can go eat at coffeeshop. Anyway tomorrow going HDB to sign the lease agreement, finally after waiting so long, doesn't have to bring much, just ID card, mobile phone for the SingPass login, and baby's birth certificate, all have to be original though. Really looking forward to getting new house, I think probably might need to wait until at least 2022 to get keys.
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Still Haven't Sign Lease for New HDB Flat

Last year until now still no news on signing lease agreement, log in to HDB portal still no date yet, I think with the stricter covid measures it would probably drag on even further. Hopefully can get the flat soon, maybe before I'm 40 years old would be nice, now already 37 years old haha, how time flies, daughter coming to 5 years old soon.
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Qualified for CPF Housing Grant

Somehow still managed to qualify for $22,500 of housing grant for the new flat that I applied in May this year , not sure how they calculated but they probably deducted the $15,000 singles grant which I took when I bought my current 2-room resale flat. I think the grant will help a lot, probably don't have to take too long of a loan, hopefully don't even need to take any loan, but also depends because my current 2-room flat is depreciating fast, past 6 months prices range from $185K to $218K, I think by the time I sell, if can sell $180K already laughing. Looking forward to new house, hope by 45 years old can pay finish.
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HDB Haven't Contact Me to Sign Lease Agreement

On 22 May 2019 , I applied for the Tengah BTO together with my parents under the "Multi-Generation Priority Scheme (MGPS)". On 26 Jul 2019, I booked a flat and also paid the option fee. My parents also did the same thing on the same day since we are under the same scheme so must book together. In the option to purchase document, HDB will invite me to sign the lease agreement within 4 months from the date of the option, by now already past 4 months but no news yet. I also checked the HDB portal, also no date assigned for the lease agreement appointment. Anyway I dropped them an email to see what they say. By the way on the day of signing the lease agreement, I suppose to pay 5% of the purchase price of S$240,800, which is S$12,040, and my CPF OA can fully pay for it. As for my parents, I think they don't even need to pay until they collect the keys because they are eligible for the deferred downpayment scheme since they are right-sizing i.e. downgrade from 3-ro
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BTO Sales Launch May 2019

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Link to apply here. Priority Schemes here. 26 May 2019 I would have met my MOP for my current flat, so they open this week just nice. So I applied for a 3-room unit at Tengah, together with my parents under the "Multi-Generation Priority Scheme (MGPS)". Parents applied for a 2-Room Flexi unit. Quite surprising still can be eligible for a priority scheme, hopefully can get. By the way application fee is just S$10, if can get good, cannot then just lose S$10, machiam like buying 4D lol. Pricing below.
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Renewed My Fire Insurance for $2.50

I received a letter from HDB saying that my fire insurance will expire this May so I went to renew online, only paid $2.50, pay by MasterCard, kind of bo liao lol. First time I bought this insurance I paid $3.10. Lol. Anyway this also mean that I will be staying in this flat for 5 years by the time the insurance expires, which means I can apply for BTO. Yes, finally.
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Skyparc @ Dawson

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Just now walked past the construction site, looks like they build pretty fast, I think by the end of this year should be finished. I think this is quite a nice place but a bit "ulu", don't see any convenience store or supermarket, but a search on google map shows the nearest supermarket is Sheng Siong behind the SkyVille @ Dawson, but it's quite a walk.
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Next Month Must Use Cash to Pay HDB Flat

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My monthly instalment is $721, so last month deducted $624 from my CPF, still owe HDB $97. So just paid via HDB website using eNETS. Anyway have prepped for this, also not a big amount. Well one good thing is my CPF can grow more. But this May probably going to try for BTO, get a 3-room so baby can have her own space.
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51 Commonwealth Drive

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Very beautiful looking HDB block, I think the design is very modern, these days new HDB blocks look about the same as condo, only way you can tell the difference is condo have barrier and security. A 4-room unit in this block can fetch $7xxk to $8xxk, kind of ridiculous.
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To Use Cash to Pay HDB Instalment in Apr 2019

So this month will be the last month that I can use my CPF ordinary account savings to pay for my monthly instalment of $721. I think should not have a big impact since I already knew this even before I bought my flat back in 2014 so my planning have always factored this in. The thing is that I still have $34,933.13 in my OA but I can't use it, this is because the lease on my flat was less than 60 years when I bought it so there is a limit to how much CPF savings I can utilise, so after a certain threshold I must pay by cash. And don't forget when I bought my flat, my OA was wiped out to $0, so from that time until now my OA still managed to grow. Anyway next month have to remember to manually pay to HDB, I think there is a late payment charge, these bastards, why is there even a late payment charge on public housing, what if some people really have trouble paying, are they really going to charge these people extra? The current late payment charge is 7.5% per annum by the
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Change to Re-Offer of Balance Flat (ROF)

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Source In May this year I would have completed the 5 years Minimum Occupation Period (MOP), which means I can apply for a new flat from HDB. Now me, wife and baby staying in a old 2-room flat at Queenstown, really old and rundown, getting worse with each passing year. Renovate also like waste of money because eventually we will move out. So when I saw this news at first a bit happy because they will implement after my flat meet MOP which is just nice, but after reading details then realise that only 120 flats will be offered, very strange move because if you see the SBF or ROF exercises, so many leftover flats, why don't they just offer it all for people to book anytime. Anyway by the time should be able to book BTO so hope can MOP before the May BTO. Just did a calculation, if sell my current flat at $200,000, total loss is about $90,000 after paying outstanding loan, levy and return to CPF. Bought it at $250,000, this flat 50+ years, I think can sell $200,000 already
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