With a squeeze on homes in Singapore, resale HDB prices have been climbing since COVID-19 hit in early 2020. We discuss whether buying a resale HDB flat is really an ideal starter home in Singapore. Going even further, we talk about the merits of buying a resale HDB flat without using any government grants. Doing this, we retain our "first-time buyers" status with HDB - giving us the option to go back into the BTO market when we become eligible and/or have a home to wait out the 4 to 5 years building period.

Read the original article that sparked this discussion: https://dollarsandsense.sg/purchasing-hdb-resale-flat-without-grants-can-good-starter-home-option-singapore/

The $1,400 local qualifying salary is one highlight from Prime Minister Lee’s National Day Rally 2021 speech that caught public attention. Many netizens jumped on board to laud this change as a new minimum wage for Singapore workers. From a relatively obscure technical term that was used by Ministry of Manpower (MOM) and HR departments, the Local Qualifying Salary is now in mainstream attention after PM Lee’s mention.

We discuss a quasi-minimum wage structure in Singapore based on enhancements to Local Qualifying Salaries (LQS) and Progressive Wages. 

Read more: https://dollarsandsense.sg/local-qualifying-salary-5-things-need-know-lqs/ 

We discuss the reasons it doesn’t make financial sense to cancel our BTO, and also why HDB can consider more leniency for those who do cancel their applications.

Read more: https://dollarsandsense.sg/doesnt-make-financial-sense-give-hdb-bto-flat-due-construction-delays/

In this episode, the DollarsAndSense team discusses whether self-employed persons (and possibly even freelancers) are being given less government support just because they didn't incorporate a private limited company.