Dispose off HDB?

[extremme]

Need some expert guru advice here. If I owe a HDB that is fully paid for and bought a pc before CM5 so I don't need to sell away my HDB. But the PC is reaching TOP soon and we are thinking of selling it away then buy another PC. In this case, if I buy another PC now after selling away the existing PC, will I need to dispose off my HDB? I'm suspecting need to but really hope don't need to

[reuters]

Need some expert guru advice here. If I owe a HDB that is fully paid for and bought a pc before CM5 so I don't need to sell away my HDB. But the PC is reaching TOP soon and we are thinking of selling it away then buy another PC. In this case, if I buy another PC now after selling away the existing PC, will I need to dispose off my HDB? I'm suspecting need to but really hope don't need to

Yes, the rule will apply if you sell your PC now and buy another one. Best option for now is for you to live in the HDB and rent out the condo.

[extremme]

Yes, the rule will apply if you sell your PC now and buy another one. Best option for now is for you to live in the HDB and rent out the condo.

Thanks! Does this mean if I buy a PC now, I must dispose off my HDB within 6 months? urghh!! Any way to contravene e ruling?

[august]

if you have fulfilled the MOP for HDB, u can buy a private no problem.

[extremme]

if you have fulfilled the MOP for HDB, u can buy a private no problem.

but do I need to dispose off my HDB if buy PC now? thks

[Arcachon]

but do I need to dispose off my HDB if buy PC now? thks

Where did you get this info? Or did you assume you need to dispose off your HDB if buy PC now? BTW do you know what is CM5?

[Arcachon]

Yes, the rule will apply if you sell your PC now and buy another one. Best option for now is for you to live in the HDB and rent out the condo.

Which rule of CM5 are you referring to?

[ysyap]

No need to dispose any HDB lah... Its the other way round.. if you are a PC owner and looking to buy HDB then you need to dispose your PC within 6 months.

[ysyap]

Copied the following from HDB website. If need to sell HDB when buying PC, then there is no such thing as HDB whole unit rental already unless for special reasons...

Q: I have bought a private residential property. Can I sublet my HDB flat and live in my private property?
[ Living in HDB Flats > Purchasing Private Properties ]
A: No. You and your family must continue to live in the HDB flat unless you have obtained approval from HDB to sublet the flat under the Subletting of Flat Policy.

• To sublet the whole flat, you must also satisfy the condition of a 3-year or 5-year minimum Occupation Period (MOP) as follows:
  3 years
  
  • Non-subsidised flat (flat purchased from the open market without a CPF housing grant) and the application for the purchase of the flat was received before 30 Aug 2010;
  5 years
  
  • Non-subsidised flat (flat purchased from the open market without a CPF housing grant) and the application for the purchase of the flat was received on or after 30 Aug 2010;
  • Subsidised flat (flat purchased directly from HDB or from the open market with a CPF housing grant)

[extremme]

Where did you get this info? Or did you assume you need to dispose off your HDB if buy PC now? BTW do you know what is CM5?

I thought there is a rule that says cannot owe HDB and pc together and hence if u buy a pc, must dispose of HDB within 6 mths even if you have fulfilled 5 yr mop?

[roly8]

I thought there is a rule that says cannot owe HDB and pc together and hence if u buy a pc, must dispose of HDB within 6 mths even if you have fulfilled 5 yr mop?

see which one you own first. HDB or PC

if you got HDB first, then you can go on buy your PC

but if you got PC first...then you cannot buy any HDB already unless you dump your HDB!

[Mr.Keh]

I thought there is a rule that says cannot owe HDB and pc together and hence if u buy a pc, must dispose of HDB within 6 mths even if you have fulfilled 5 yr mop?

You can buy a condo and no need to sell your hdb since mop is over. My situation is similar to yours. Hdb fully paid, sold a pc recently and now scouting for another to invest in. So I checked with hdb and yes I can continue staying in my flat and invest in another condo.

[ikan bilis]

the rule is you need to pay 3% ABSD for your 3rd residential property...

can keep hdb... just pay 3% ABSD on your next condo (if you already own a hdb and a condo)....

[mcmlxxvi]

You can buy a condo and no need to sell your hdb since mop is over. My situation is similar to yours. Hdb fully paid, sold a pc recently and now scouting for another to invest in. So I checked with hdb and yes I can continue staying in my flat and invest in another condo.

Life is so fair... To our heartlanders...

[august]

but do I need to dispose off my HDB if buy PC now? thks

no need, can keep your hdb

[henryhk]

I thought there is a rule that says cannot owe HDB and pc together and hence if u buy a pc, must dispose of HDB within 6 mths even if you have fulfilled 5 yr mop?

U can buy as many condo as you want, if you have $, you will not be forced to sell your only hdb.....

But condo owner who wants to buy hdb now have to get rid of all his condos.

'so dont anyhow sell your hdb'

[sh]

U can buy as many condo as you want, if you have $, you will not be forced to sell your only hdb.....

But condo owner who wants to buy hdb now have to get rid of all his condos.

'so dont anyhow sell your hdb'

this is so unfair

[extremme]

ah ic... thanks for everyone's advice I can go scout ard for FH if ever I decide to dispose off e LH... timing got to be right so dun gena 3% Stamp duties

[extremme]

U can buy as many condo as you want, if you have $, you will not be forced to sell your only hdb.....

But condo owner who wants to buy hdb now have to get rid of all his condos.

'so dont anyhow sell your hdb'

Yes i also dun want sell my HDB...get rental also good

[henryhk]

this is so unfair

Yes, so please buy hdb/ec first before buy p condo.

[richwang]

Renting out HDB and stay in condo is not "fair".
I sense they will not allow renting out whole HDB unit very soon (back to the old good policy.)

You will then see the re-sale HDB COV come down.

There are 4 HDB units on my floor, only 2 are owner occupied.

Thanks,
Richard

[hyenergix]

Renting out HDB and stay in condo is not "fair".
I sense they will not allow renting out whole HDB unit very soon (back to the old good policy.)

You will then see the re-sale HDB COV come down.

There are 4 HDB units on my floor, only 2 are owner occupied.

Thanks,
Richard

Where do you suggest the foreign workers stay? The policy is aimed at alleviating the lack of supply of cheap rental flats. A reversal of this policy will cause workers and landlords to complain, companies to raise their cost of business and crash the property market. It will not happen in the next few years.

[teddybear]

In the past, where do they stay? Then go back to the good old policies Lor, it's not like they have not done it before? The reason for super high resale HDB price? Because many people moved on to live in private or even migrate overseas (mostly PRs) & yet keeping their HDB for rental because rental yield so good!

Where do you suggest the foreign workers stay? The policy is aimed at alleviating the lack of supply of cheap rental flats. A reversal of this policy will cause workers and landlords to complain, companies to raise their cost of business and crash the property market. It will not happen in the next few years.

[TMATT]

Yes,Rental is good,share a true case-
1.Buy a HDB at $190K,value now $500K,Rent out at $2550 monthly.
2. Then buy a Private Prooerty at $600K,value now $1.3m,rent out again at $3400.
3. Buy another condo,for self stay & in future rent it out if need.

Think many here got similar story,we all start with HDB, and able to retired well due to government policy,although now cannot buy EC but we will never complain or jealous,more important Happy with what you have😃

In the past, where do they stay? Then go back to the good old policies Lor, it's not like they have not done it before? The reason for super high resale HDB price? Because many people moved on to live in private or even migrate overseas (mostly PRs) & yet keeping their HDB for rental because rental yield so good!

[Arcachon]

Yes,Rental is good,share a true case-
1.Buy a HDB at $190K,value now $500K,Rent out at $2550 monthly.
2. Then buy a Private Prooerty at $600K,value now $1.3m,rent out again at $3400.
3. Buy another condo,for self stay & in future rent it out if need.

Think many here got similar story,we all start with HDB, and able to retired well due to government policy,although now cannot buy EC but we will never complain or jealous,more important Happy with what you have😃

Me Too.

1988 4 rm = 83k, sell in 1995 for 285k profit after sale 180k.
1996 5 rm = 225k + 25k = 250k, rent 2.4k val about 600k.
1996 3 rm = 65k after -30k for in law val 300k.
2006 buy 2 Bedroom for 535k paid 20% rent 4k val about 1500k
2011 cash out 2 bedroom buy 3+1 penthouse 1350k waiting TOP.