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Hdb Flats Advantages And Disadvantages

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It is no secret that HDB housing is a popular choice in Singapore, making up 80 percent of all housing with 80 percent of those residents owning their own homes, according to the Housing and Development Board’s website. Property websites such as Property Guru list thousands of HDB flats available for both sale and rent throughout Singapore. Clearly there is a lot of choice and availability for HDB flats. But it is also clear that before making a decision on a flat, you should consider all of the benefits and risks together. The HDB system is set up with the intent of eliminating as many of these risks as possible, but these are still some to keep in mind when looking at HDB flats:
1. Property Agents
One of the reasons HDB flats are such an …show more content…

It can have a downside that older buildings may have poor infrastructure, be in need of repairs, or have higher maintenance costs. They can also be harder to sell when you want to move on, which could affect your retirement plans and finances. If you buy a second HDB home, you have a six month grace period before you have to hand over the keys of your existing home, but this can be a struggle if your older flat is harder to sell. You could even be desperate enough to sell your older flat at a much lower price than what it is worth and lose a substantial amount of …show more content…

Minimum Occupation Period
One measure of the HDB is the minimum occupation period (MOP), which currently states that residents must remain in HDB flats for a minimum of five years. While this does guarantee long term housing for those who need it and make it easier to set up a permanent home, it is less convenient for people who must travel frequently for their work, whose job or finances are unstable, or are only looking for a temporary home (e.g. university students). It is impossible to predict what will happen in the future so if your long term plans aren’t fixed, you don’t want to be tied down to a mortgage, or you want more flexibility to move if your home isn’t right for you, then it might be best not to consider a HDB flat.
4. Restrictions for Foreigners
Immigrants moving to Singapore are eligible to rent HDB flats for cheap rates, but there are more restrictions put upon them to do so. According to Expat Singapore, foreign residents must meet the following criteria to gain a HDB house through the scheme:
• Be a working professional or at least have high labour skills, a degree, or be in education.
• Not have been working in Singapore for more than two years.
• Not own any other

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