HLE status update

Yeah, today i checked the HDB website and it reflected:

We have received your application form and are currently processing your HLE application. We will inform you on the outcome of the application in due course.

Like my neighbours mentioned, it is indeed faster to send the HLE application through email!

Renovating our new home

We are going to the next stage, renovating our new home :)

Based on the experiences shared by my bro and colleagues whom got their new home, checking defects when the new house is handled to the owner is an important aspect not to be missed.
Although the interior design company that we engaged did mention that they will help us to check before they start renovation, (this is to safe guard themselves also), i feel that we should also be pro-active, basically to know what to check also... in case things are not really working.

So, i went to googling an found a website that listed all the defects that we should check!! And i realised one of my colleague, who just collected his new house and he is doing the defects checking himself, is also using the list from this website. Thus, i think we can use this as a guide too.

Here it is:
http://www.renotalk.com/main/Renovation/iart0113032008.php

http://www.renotalk.com/main/Renovation/defects-checklist-1.pdf
http://www.renotalk.com/main/Renovation/defects-checklist-2.pdf

It is from renotalk, which is a forum discussing about renovation, so i think we can use it as a basic reference :)

Received HLE letter from HDB!

Yesterday, we received the letter from HDB to fill up the form for HLE.

nice :)

Bank housing loan vs HDB housing loan

Heard that banks now also offers housing loan and they claimed that the rates are lower than bank loan. So i do some readups on the internet and here i shall highlights some pointers found.

• The HDB loan interest rate is 2.6% and it's almost certain it'll remain at 2.6% (becos it's pegged at 0.1% above the CPF interest rate, which has been 2.5% for quite many years).
  But with a bank loan, you'll have to be prepared for fluctuations after the 2nd or 3rd year (unless u refinance the loan).
• Fixed interest rate is better than floating interest rate as it takes away the risk of fluctuating interest. banks always offer teaser rates for first two or three years. but note that their rates can change very fast.  and the repayments for the initial period of a loan goes towards servicing the interest components more than the principal sum. so when interest rate goes up, you are going to pay a lot more even if its just 1% higher.
• HBD loan is the best for long term. It is peg 0.1 % above the interest given by CPF board. Bank loan fluctuate with the economy and will be much higher that than the CPF rate when economy is good. However, it does not go down as fast as when the economy goes down. Hence when economy is down, and you are out of job... then you are in big trouble, because you will be paying high
  bank interest and with no income then you will need to surrender your dream home.. But make sure you keep some spare $ in your ordinary account so that it can serve the loan if you are out of job.......
• A user agrees that HDB loan should be the better option if given the choice, based on long term consideration.

I went to the UOB website and looked for the housing loan and indeed i saw their rates are in terms of 1st year, 2nd year, etc, see: http://www.uob.com.sg/personal/loans/property/hdb_home_loan.html

Jade Spring @ Yishun (map and artist's impression)

Renovation planning guide

Renovation Planning Guide:
http://www.renotalk.com/main/Renovation/iart0113032008.php

Press Release for HDB Launches 2 New Build-To-Order Housing Projects In Punggol And Yishun

HDB Launches 2 New Build-To-Order Housing Projects In Punggol And Yishun

 

http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/8D2344BC832FC18D482573BE000A0832

Interior design for our home

This is our first time we are getting an interior designer for our new home. Very excited but we also know that there will be a lot of things to learn. :)

An important aspect that we are concern is the reliability of the interior designers. The following is a link that was taken from the HDB webpage to check if the ID or contractor is a registered company.

List of HDB Registered Renovation Contractors and BCA Approved Window Contractors

You can search for an HDB Registered Renovation Contractors/BCA Approved Window Contractor through our online e-Service:
Listing of HDB Registered Renovation Contractors and BCA Approved Window contractors

We managed to search for the ID that we have engaged:

 Plush Living Pte. Ltd.
  HB-11-3971D
  Kim Keat Lane

 68533753
 
  Active

We need to constantly check this site to ensure the ID is active.