How Is Owning an HDB Flat an Asset?

[ahleebabasingaporethief]

Can someone explain to me how owning an HDB is considered an ASSET?

If one were to sit done and list from 1-100 what you did and are doing to buy and keep your PIGEON HOLE, how can it be an asset?

Reminds me of PATEK PHILLIPE's ad:

"You do not own a Patek Phillipe. You merely look after it for the next generation".........in HDB's case....."for our leaders" [/color]

 

[TeeKee]

Can someone explain to me how owning an HDB is considered an ASSET?

it will only become an asset if you buy low and sell high at the profit, and F-OFF from the country by cashing out and never buy HDB flats again...

 

[mrbell1009]

In the long term you are punished for buying an HDB flat.

 

[myfoot123]

HDB is not your asset. It is a 99 years leasing contract.

 

[nitecrawllerr]

The landlord is still HDB. Period!

 

[TeeKee]

HDB is not your asset. It is a 99 years leasing contract.

how much property tax do you have to pay every year?

how much do you have to pay when its due for Upgrading?

how much TV license do you have to pay every year?

how much do you have to pay for patching up poor workmanship by HDB contractors?

in the end, how much renovation do you have to pay?

 

[theDoors]

A system of social engineering and control.

To encourage Singaporeans to work beyond 62, HDB prices has increase by 30% over the last 2 years. The price increase not only serves to fatten the state coffers, but also ensures that Singaporeans do not finish servicing their mortgage too soon, ensuring funds in CPF are not withdrawn "prematurely".

 

[makapaaa]

it will only become an asset if you buy low and sell high at the profit, and F-OFF from the country by cashing out and never buy HDB flats again...

Just like what many PeeRs who did not serve a single day of NS have done!

 

[zhihau]

how much property tax do you have to pay every year?

how much do you have to pay when its due for Upgrading?

how much TV license do you have to pay every year?

how much do you have to pay for patching up poor workmanship by HDB contractors?

in the end, how much renovation do you have to pay?

for that 99 year lease, i find it a joke when i need to pay property tax when i do not even own that HDB pigeon hole.

for that 99 year lease, i find it a bigger joke when i'm asked to fork out extra money for upgrading.

TV license is another joke, especially when there's free-to-air channels from our neighbors.

and for your information, if the HDB pigeon hole is truly ours, why do we need a permit from the HDB when i'm renovating it? you mean i need to get a permit to style my hair? there's the difference between owning something and not owning it.

 

[popdod]

That is how your kids generation and their kids will get in debts forever.

:p :o :p

 

[Devil Within]

Can someone explain to me how owning an HDB is considered an ASSET?

This was the propaganda bullshit spout by that dumb ass GCT when he was the PM.

If it's anyone's asset, it would be an asset for the govt to suck Singaporean dry and slave them for at least 20years.

 

[The_Latest_H]

Owning a condo is an asset. Owning a landed property is an asset. Owning a shophouse with the family staying upstairs is an asset. Owning a landed property in Perth is an asset.

In contrast, HDB puts you into debt with freehold prices for a flat that's on a 99 year lease. Worth it? Well, it ain't that french lipstick brand's advertising brand.

 

[littlefish]

if the HDB pigeon hole is truly ours, why do we need a permit from the HDB when i'm renovating it? you mean i need to get a permit to style my hair? there's the difference between owning something and not owning it.

You need a permit to ensure that the renovation work is properly done, otherwise who is going to answer for it if your renovation causes structural damage to the building or even causes the entire building to collapse?

There are also other aspects (mostly safety) to consider. For example, what if you decide to extend your balcony almost until the neighbouring block (considering how closely some of the newer blocks are built together)? Not only will it be an invasion of privacy but you will also be blocking the sun for all those living below you.

 

[ahleebabasingaporethief]

for that 99 year lease, i find it a bigger joke when i'm asked to fork out extra money for upgrading.

.

THAT is the biggest JOKE? It's daylight robbery ok

 

[chuckyworld]

>>You need a permit to ensure that the renovation work is properly done, otherwise who is going to answer for it if your renovation causes structural damage to the building or even causes the entire building to collapse?<<

You mean to tell us you HDB built substandard building that is easily collapse when someone does a minor renovation to their apt ( permit is a must )

>>There are also other aspects (mostly safety) to consider. For example, what if you decide to extend your balcony almost until the neighbouring block (considering how closely some of the newer blocks are built together)? Not only will it be an invasion of privacy but you will also be blocking the sun for all those living below you.
Reply With Quote<<

Wow you can change or renovate HDB building structal by extending your balcony from your block to the next block can or not ar, like that hor had to spend a few million dollars to renovate my balcony leh after all staying on the top floor, remember hor engineering work digging and structal extension plus materials cost not cheap cheap leh, why want to extend balcony arr.

Like that hor i better ask all my relatives to apply for balcony extension, so can have a few more Majong tables on the balcony for weekends gathering.

The question is, is owning a HDB an asset with a 99 year lease, pay afew hundred k for the apt an renovate or extend balcony so my apt is worth a few millions dollars si boh.... lol....money not enough leh

 

[Himerus]

an asset in a way but it is not free-hold.
another way by the government to tide-up your CPF.

 

[scroobal]

Can someone explain to me how owning an HDB is considered an ASSET?

QUOTE]

Know this guy who first bought a 3 room flat in Woodlands, then upgraded to masionette. Sold in the 1990s at $700K, migrated to OZ, bought a house with garden for $240K. Rest in the bank. Guy and his wife are retirees and draw a fortnighly pension from the State.

This guy is basically a simpleton, used to work as a security officer at Sembawang Shipyard. Went over to OZ, because his daughter had moved there earlier and a family dependent visa allowed it.

Till today, he talks about his HDB flat that funded him in paradise.

Then we have dumb singaporeans who spend their time talking about imagined racism and all the excuses why they don't leave while the number of Chinese migrants from mainland is rocketing.

 

[Cestbon]

HDB is not an asset if you buy at high price only when you buy at low price you can gain profit after deduct
1. Interest by HDB/Bank
2. Consevancy charges
3. Property tax. TV licience
4. Electricity/water bill
5. Upgarding eg, lift
6. Insurance
7. Stamp fee
8. Value drop at faster pace if reach 50 year of 99 year lease.

 

[littlefish]

>>You need a permit to ensure that the renovation work is properly done, otherwise who is going to answer for it if your renovation causes structural damage to the building or even causes the entire building to collapse?<<

You mean to tell us you HDB built substandard building that is easily collapse when someone does a minor renovation to their apt ( permit is a must )

>>There are also other aspects (mostly safety) to consider. For example, what if you decide to extend your balcony almost until the neighbouring block (considering how closely some of the newer blocks are built together)? Not only will it be an invasion of privacy but you will also be blocking the sun for all those living below you.
Reply With Quote<<

Wow you can change or renovate HDB building structal by extending your balcony from your block to the next block can or not ar, like that hor had to spend a few million dollars to renovate my balcony leh after all staying on the top floor, remember hor engineering work digging and structal extension plus materials cost not cheap cheap leh, why want to extend balcony arr.

Like that hor i better ask all my relatives to apply for balcony extension, so can have a few more Majong tables on the balcony for weekends gathering.

The question is, is owning a HDB an asset with a 99 year lease, pay afew hundred k for the apt an renovate or extend balcony so my apt is worth a few millions dollars si boh.... lol....money not enough leh

You are not being rational. How minor is minor? If you somehow drill a big hole into a supporting pillar, who will bear the responsibility if something happens? Imagine every single flat in a HDB block doing their own renovation without requiring a permit. I don't think I will live in a HDB block under such circumstances.

I am no fan of the PAP but there is no point hurling every single thing at them or a government agency in this instance. Renovation permits are required in almost every developed country. No insurance company will accept your housing insurance if all renovation work is allowed unchecked. The only question is what kind of renovation work does not require permits. You are living in a HDB flat, almost every kind of renovation work will have an impact on those living above, below and to the sides of you (at the minimum, there are tons of noise pollution complaints). Thus, it is fair that you ensure that your renovation has been approved by an authority unless you want to subject yourself to unlimited liability for lawsuits, even then, I doubt HDB dwellers will accept such a scenario.

If you feel that you don't own the flat and do not wish to carry out any renovation, that is fine with me. But as long as you decide to perform some renovation work on the flat, then I don't see anything wrong with requiring you to get a permit. Of course, the costs and time for getting the permit is another matter altogether.

 

[tonychat]

Can someone explain to me how owning an HDB is considered an ASSET?

QUOTE]

Know this guy who first bought a 3 room flat in Woodlands, then upgraded to masionette. Sold in the 1990s at $700K, migrated to OZ, bought a house with garden for $240K. Rest in the bank. Guy and his wife are retirees and draw a fortnighly pension from the State.

This guy is basically a simpleton, used to work as a security officer at Sembawang Shipyard. Went over to OZ, because his daughter had moved there earlier and a family dependent visa allowed it.

Till today, he talks about his HDB flat that funded him in paradise.

Then we have dumb singaporeans who spend their time talking about imagined racism and all the excuses why they don't leave while the number of Chinese migrants from mainland is rocketing.

I love your post. It says so much about the theme that i am driving at around here