Your HDB Will Be Worth $0 After 99 Years | How To Fix This

[@KelvinLearnsInvesting]

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[@88_JJW_88]

for BTO, you need to factor in the reno cost which now easily above 50k

[@steventay5834]

The bonus is also subject to terms and conditions

[@henrylau116]

Kelvin, you are not answering your fan question. You have assumed he stayed in his HDB flat, but I think he atayed in a pte property and rent out his HDB property. All your answers are useless to him. To me, if lease is left with 13 years, and definitely, no one will buy it in a open market. HDB will buy back the unit based their current price of the unit.

[@marvelcomiks8078]

In another 10 to 20 years, a deluge of old flats will hit the market...nobody wants them...only poor people with no money to move elsewhere will stay there until their last breath. This will drag down the entire HDB resale market. In a sense, when the tide goes down, you will see who are the ones without their swimming trunks. There tens of thousands of them.

[@steventay5834]

henrylau116 Rent it out till 99 years

[@MargaretLoo-hg1of]

For leasebuy back scheme eligibility age is at least 65 years of age not 55.😊

[@KelvinLearnsInvesting]

Yup, i mentioned that in the video :)

[@xfall86]

Do you think the gov will let thousands of Singaporeans be homeless once lease runs out? No . Either the lease keeps getting extended, or the gov will relocate you to another flat . Only downside is you dont get to choose.

[@tanhakkoon]

SA 4% earn also gone for senior after 55, why not ....

[@eng80425]

Lease won't be extended for free right? By that time will the person still have enough money to pay for the lease extension?

[@echeng5722]

why will be homeless? Most buyers will die before lease is up. The next gen should get their own flats....after all they've been staying rent-free with the buyers/parents ya.

[@steventay5834]

xfall86 Lease will not be extended. Why homeless? You will be in heaven

[@MargaretLoo-hg1of]

I think leasebuy back scheme is good for seniors who need retirement income n want to stay in the same familiar surrounding. But if seniors do not need to leave hse to kids they can encash n downgrade to a smaller n manageable house.

[@wailingyeoh6882]

Very well researched video which answered many pertinent questions. Thank you, Kelvin. I'd like to ask, from a slide in your video, it said that if the lease terminate prematurely, hdb will reimburse beneficiaries according to a straight-line depreciation. Depreciation from what amount? Current market value? It'll be interested to hear your guess and its reasoning. Thanks again

[@the50dollarsman]

This kind of thing you better just call up HDB and ask directly.

[@limcheehean]

Based on the amount paid to you from the Lease Buyback Scheme. For example, if you sell 20 years of your lease, but passes away 5 years earlier, your beneficiaries will get extra 5 years or 25% of the LBS payout.

[@wailingyeoh6882]

@@limcheehean I was thinking "lease pre-maturely terminate" in the context of the owner passing away without doing lease buy back. But thanks for your input.

[@steventay5834]

wailingyeoh6882 In that case, you can sell the flat in the open market

[@steventay5834]

@wailingyeoh6882 I think the pro-rated amount should be based on the market value at the time when you sell part of the lease to HDB.

[@VzuallStudio]

Can discuss the upgrade gameplan for singles starting from 2 room

[@Humorousguy64]

Policies keep changing fast with clever n cunning ministers in charging...all good things only left little for us la ..those managed to get benefits already done 20years back

[@carnesir]

Kumgong. Living off good rental income still want to pass on a generation of wealth to kids. Don’t be selfish. Ur lease and market price of flat is reflective of the returns already

[@user-pt2pc5uf1g]

New citizens like kelvin n kiasu kiasi kia chenghu sinkies hv alrdy bought nice properties in bolehland Liao. All waiting to retire overseas once they earn good sgd

[@mmaker88]

Can you still rent out your BTO immediately when you possess it? If not, there will be a time when there is no rental income.

[@KelvinLearnsInvesting]

During mop, cannot rent out entire unit. But can rent out a few rooms

[@MrRazorteeth]

They would have lump sum of cash after down sizing

[@steventay5834]

@mmaker88 BTO flats are for you to stay, not to generate rental income

[@AaronLin88588488]

When lease reach 0. You have to give back the house or land to government. There no replacement flat. Even 10 cent also don't have. It's will go to zero value and return to government

[@marvelcomiks8078]

In another 10 to 20 years, a deluge of old flats will hit the market...nobody wants them...only poor people with no money to move elsewhere will stay there until their last breath. This will drag down the entire HDB resale market. In a sense, when the tide goes down, you will see who are the ones without their swimming trunks. There tens of thousands of them. I am betting that HDB prices in general will go down by 30%. Those who bought flats at 1million dollars or more these few years will be screaming their lungs out.

[@Twodaae]

Which is why buying a HDB is similar to "renting" except its renting from the Government. "You never really own your HDB, you're just renting it for the next generation, who will continue to rent" Can't really call yourself a "home owner" also, which is quite demoralizing why we work so hard for such.

[@AaronLin88588488]

@@Twodaae it's the same for 99 years condo

[@Twodaae]

There is a difference between Private condo and HDB though... @@AaronLin88588488

[@marvelcomiks8078]

@@Twodaae "In another 10 to 20 years, a deluge of old flats will hit the market...nobody wants them...only poor people with no money to move elsewhere will stay there until their last breath. This will drag down the entire HDB resale market. In a sense, when the tide goes down, you will see who are the ones without their swimming trunks. There are tens of thousands of them. I am betting that HDB prices in general will go down by 30%. Those who bought flats at 1million dollars or more these few years will be screaming their lungs out." --- Not just renters, but renters who are enriching the rich by living their entire lives in huge debt by over-paying for something they never really own.

[@bernardkoh1650]

Sliver housing and lease buyback only good for couples without kids..

[@steventay5834]

@bernardkoh1650 Your kid will need to buy their own HDB flat lah

[@MrKevinliow88]

Nobody stays in a HDB flat until the lease runs out. It's a no brainier.

[@benjii16]

How can one manage to sell if the remaining lease is 40 years and below with a decent profit margin... sigh

[@Twodaae]

Hard to and rarely... anyway, a home should be used as a roof over one's head, and one should not be thinking of using one's home to gain profit unless u have a second investment house, then yes, its all about the profit. Stay in your house, enjoy and be thankful you have a roof over your head! Money can be earned elsewhere! G'day to u sir

[@benjii16]

@Twodaae but a home that should last forever and not with a lease of 99 years, it's like paying for something that needed to be returned back to the govt even thought we bought it with our pure hard cash

[@stanleyler]

That’s right. We are just renting a roof with HDB. So who will complete 99 yrs lease then and get $0 back? The Gov should address this issue!

[@steventay5834]

@benjii16 I am amused by your thinking. Private condo also have 99 years lease and will have to return to the government at the end of 99 years

[@steventay5834]

@stanleyler What issue? You already enjoyed staying in the flat for 99 years!

[@AlanLim228]

Congrats 100k

[@KelvinLearnsInvesting]

Thank you 🙌

[@engchunming1982]

Make it 1 mil ❤

[@chinchowpowpook]

Even if is left 40 years,,I thousand percent believe none of us , all, here able to witness how it end..even u survive by then, dementia tumour cancer Liao..singaporeano getting sillier in planning so far ahead..who knows we may die later by accident

[@tedchandran]

Jai Hinduja. Kicking the can down the road. Can't imagine how long and when the assetrich HDB millionaires with million dollars homes become assetless with 0 value HDBs.

[@tanhakkoon]

Is good for SG economic progress, so the next generation will back in rat race and need to work hard.

[@bigno1900]

very easy , vote opposition more into parliament until they form a minority enough to veto majority voting, then pap will be scared and will give you new flat for free!

[@steventay5834]

@bigno1900 Life is not so simple

[@veerappananpalakan527]

This is a alarmist and incomplete video, before the lease expires in 20..25 years, you will be given a replacement flat with a fresh lease of 99 years but with less subsidy 😂😂 Can you imagine when the lease expires for housing estate like ang mo kio, yishun...where most of flats are buit at the same time😅😅😅 Everyone will be given a replacement flat before your lease ends and will be done progressively, some might get it in 20..25..30 years😊😊😊 EVERYONE SEEMS TO THINKING ON HOW TO MAKE MONEY OUT OF SIBSIDIZED HOME OR HOW MUCH MONEY WILL THEY LOSE WHEN LEASE EXPIRES😅😅😅 AND NOT BEING GRATEFUL FOR THE ROOF OVER YOUR HEADS!!! Any comments ??

[@henrylau116]

No, I don't think a replacement flat. Possibly, extension of the lease on the existing unit. This will be a time-bomb for our government if they did not manage it well.

[@andrea9797mdd]

No, there is no guaranteed replacement flat

[@edwinsohproperty]

@@henrylau116 Do refer to National Day Rally 2018 kzbin.info/www/bejne/hX-mi6qBr66SbMU&ab_channel=PrimeMinister%27sOffice%2CSingapore 43:27 There's also a practical reason why we can't extend the leases easily. If you look at older buildings today, some look rather worn, even before they are 50 years old. Some condominiums are like that, private property. And after 99 years, or a century, I'm sure the mechanical and electrical systems will be obsolete. The concrete will have deteriorated in our tropical climate, and even we could fix all that, the recurrent maintenance costs would be very high. So it's better to let the leases expire, take the blocks back, demolish, rebuild afresh.

[@Twodaae]

Very much in agreement with you! Most people are not grateful they have a permanent roof over their heads even if the HDB is "rented" from Government. Currently, most "replacement" units I reckon are going to cost more than the value of the decaying lease HDB, so folks are still going to have to top up cash for their new units. Unfortunately, that's how it is and how Government keep people in the rat race and continue to work! Just enjoy staying in your homes, and figure out a way to earn more money rather than enticipating a winfall over the sale of your home (this is just a bonus and not a MUST)

[@steventay5834]

@henrylau116 No extension of lease lah.

[@cryptoboy7212]

Voting for WP

[@DanC-vv7cl]

Then what freehold? By the 3rd generation, they got nothing to stay in or held hostage by the generation of ppl with freehold houses.

[@cryptoboy7212]

@@DanC-vv7cl why do we have to pay for a house that we don’t own? SG has a decline in birth rate since 20 years each family now are only having 1 child. The main cause is financial problem tell me why WP is the only party that has a 7hr long debate about cost of living and got shut down by the gov?