By Joanne Poh, via moneysmart.sg
There’s been a lot of talk lately about whether Housing Development Board (HDB) flat owners really own their flats, or whether they’re just tenants on a 99-year lease.
We can argue about this until the cows come home, but deep down, what Singaporeans really care about is whether there is money to be made out of that HDB flat.
For older flats, (right now, that generally means those with 50 years or less left), be prepared to see a huge drop in value once they start creeping towards the tail end of their leases. For instance, there will be no point to get a resale HDB flat if there are only 35 years left on the lease.
Once the resale value of a flat begins to fall, it’s time to start praying that it will be selected for the SERS, or that you and your neighbours can band together to get it redeveloped under the newly-announced VERS.
By Clara Lim, via moneysmart.sg
Is it just me or did this year’s National Day Rally feel like a rundown of recent movie blockbusters? “From the creators of SERS, HIP, Pioneer Generation and CHAS, we now have VERS, HIP II, Merdeka Generation and CHAS: The Sequel.”
Here’s a list of the government’s latest reboots, remakes and sequels that PM Lee Hsien Loong announced during the National Day Rally 2018:
By Eugenia Liew (via moneysmart.sg)
Singapore — BTO shopping? You’re in luck. The August 2018 HDB BTO launch is coming and they’re in 2 of Singapore’s favourite estates – Punggol and Yishun! What a tough choice, eh? Should you go for Yishun (homeland of siao langs) or Punggol (number one killer of friendships in Singapore)?
On the face of it, the two BTO developments might not seem that different. Both are in non-mature estates and quite far from town, and prices should be about the same. But when it comes to actually buying a home and living there… things are a bit different.
Let’s deep dive into the upcoming BTO launches in two of Singapore’s dream districts.
New property cooling measures were recently announced, and boy, did it send Singaporeans into a frenzy as everyone rushed to buy condo units the night before they kicked in. So… what are these property cooling measures and why did everyone freak out about them?
Here are 10 biggest questions on everyone’s minds, and our answers (to the best of our abilities, anyway).
Singapore — Owning a home that you can call your own is certainly exciting, but it is also one of the biggest purchases you will probably make in your lifetime. What’s more important to bear in mind, however, is that it’s not a journey that ends the moment you get your house keys.
By Joanne Poh, via moneysmart.sg
Singapore’s laws remain depressingly old-fashioned when it comes to certain things. And nowhere is this clearer than in the way single parents are penalised. It’s almost as if it’s your fault for being a single parent.
While a lot has been done to make parenthood less financially taxing such as the Baby Bonus and HDB subsidies, single parents are often left out in the cold and denied the same degree of support.
This despite the fact that it is often precisely single parents who need help most in the absence of a spouse to share the physical, emotional and financial burden of raising a child.
If you or someone you know is on the brink of single parenthood, this guide will help you to see at a glance which grants, subsidies and financial assistance you qualify for.
By Joanne Poh (via moneysmart.sg)
Singapore — Your home loan is probably the single biggest financial commitment you’ll ever take on, and one you could spend the next few decades paying for. Given the magnitude, you obviously want to ensure you lighten the load as much as possible. That’s why it’s so important to be aware of when it’s time to refinance your home loan.
It can save you thousands of dollars over the years, raise your capital gains on resale and basically make your expensive home purchase a bit less expensive.