Re: [EZLINK] Re. Buying HDB Flat (Suggest)
Hi,
while appreciating your idea of buying a flat, these
are my suggestions(you may consider).
first of all, you should find a trustworthy agent,
tell them your preferred location and your budget.
he/she will guide you the rest and arrange for
negotiation with the seller, also loan from the bank
of your choice. the bank will appoint a legal firm to
deal with CPF and seller on behalf of you. this is the
road map to buy a flat (in brief).
all most all commercial banks are having similar terms
and conditions.
whether it is floating or fixed, at the end of the
day, you will have to pay same interest on your
principle, it is only a matter of putting in numbers.
But, if it's floating rate, your staring EMI (monthly
installment)is a bit lesser than fixed rate.
you better go for 80% loan, interest rates are lower
for 80% loan than 90% loan.
you should consider loan period also. if your loan
period (no. of years)is longer, your interest
component is more.
if you buy a 5 years old renovated flat in new
estates, it is better. they are almost new and you
don't have to go for renovation again. it is hassle
free.
if not, you have to look for lift level units in old
estates. avoid buying in any area going for interim
upgrading or lift upgrading programs. if you buy in
these areas, you have to pay full cost for above
works.( NO govt. subsidies for PRs).
some neighborhoods were upgraded, but not yet invoiced
to the owners. if you buy these units, the invoice
will come to you later and you have to pay. this is
important and you must check with the agent/HDB before
you sign any agreement.(you may not find these
problems in new estates).
i hope these few points will help you.
all the best to you.
srinivas
--- Ram Spore <ramsingsg@yahoo.com> wrote:
> Dear Folks,
>
> We are planning to buy HDB Flat.
>
> I know that you are the most experianced in this
> deal.So we need all you valuable suggestions.
>
> So can you please share your past bad and best
> experience to all of us. This will help us to narrow
> down our view when we buy house.
>
> My Concerns:
>
> 1. We are planning to buy HDB flat.how many years
> old plat can buy?
> 2. Which bank is most preferable by the ppl.
> 3. Which percentage is better to down payment
> whether 10% or 20% .
> 4. For the bank interest which would be prefer
> whether Floating rate or Fixed rate.
> 5. What are concern that we need to check with agent
> when we sign.
> 6. If anything i missed out?
>
> Thanks in Advance,
>
> Ram.
>
>
> ---------------------------------
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>
> [Non-text portions of this message have been
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>
>
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