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Home Renovation Ideas: Top 5 Interior Design Trends You’ll See Everywhere in 2022

Posted on by Ohmyhome

An older version of this article from March 2021 is available here.

Though restrictions have been easing up and we’re witnessing the dawn of a new era where COVID is treated almost as dismissively as the common flu, we foresee some COVID-inspired interior design trends that are here to stay.

1. A Zoom room

A Zoom Room isn’t necessarily an actual room.

The Zoom Room is just pandemic speak for a really swell, pimped-out home office you can show off on video calls without having to resort to a virtual background to hide the unsightly state of your now very lived-in home. A Zoom Room isn’t necessarily an actual room. For those of us with shallow pockets and deep creativity, a Zoom Room could easily be a designated corner or room in your home with a “curated background” that just so happens to fit into your video call frame so you always look work-ready in your meetings. 

These spaces are decluttered and set away from communal parts of the house, so you never have embarrassing moments of a child screaming in the background or an elderly grandpa wandering across the screen in his boxers. Although most offices are now back in full force, we foresee homeowners keeping a “Zoom Room” ready in their homes in case of an unexpected lockdown. It also makes an alternative high-productivity area for the times when you need to work from home on weekends or after hours. 

2. Neutral palettes

Popular expat YouTuber Georgia Caney’s Singapore apartment features a neutral tone colour palette. | Source: Georgia Caney

There is only so much character we can take from a room we live and breathe in day after day. With the two lockdowns we have experienced, many homeowners and interior design professionals now truly understand the meaning of getting “stir-crazy” and the need for an environment with a clean, simple palette. 

More homeowners are now opting for cleaner colour palettes in home designs, with “comfort” and “timelessness” being key considerations in their colour picks for their living spaces. Whites, creams, beiges, pale to darker grays, and other neutral tones remain popular options. 

On the same note, the minimalist trend saw homeowners on a decluttering spree to make living spaces more livable; we foresee this trend will carry on post-COVID as we get used to seeing clean, open spaces within our homes. 

Read more about home renovation and interior design:

3. Not mixing work and play

Having clear “sections” and rooms also became crucial for those sharing a house with a family member with COVID or under quarantine. 

Move over, open-concept homes. COVID saw homeowners and designers swapping out open-plan spaces for purposefully-designed ‘cocoons’ that offer privacy and focus, and with larger communal spaces that serve as ‘break areas’, to cater to clearly defined work and play environments. Having clear “sections” and rooms also became crucial for those sharing a house with a family member with COVID or under quarantine. 

Rooms that were dedicated to playtime, also helped keep the kids away. Many homeowners child-proofed their homes or designed playrooms to keep the children within confined play zones, allowing a space where the little ones can go crazy, even draw on blackboard or whiteboard laminated walls, to unleash their creativity and hopefully expand all that boundless energy.

4. Let there be light

Photographer and Instagram-Tik Tok influencer Lee Yik Keat’s bedroom with floor-to-ceiling windows for natural light to come in. | Source: Lee Yik Keat

As more and more of us got increasingly used to working from home, the need for brighter, lighter spaces became a necessity. 

As new technologies pop up, promising to mimic daylight, complement mixed design themes, or enhance various moods, increase productivity or promote better sleep, homeowners have begun to see lighting as key to home design. Gone are the days when a single light switch controlled one austere light bulb that was supposed to provide all the light in a single room. These days, a mix of overhead lighting, standing lamps, and mood lighting are combined to create highly livable and convertible spaces to cater to changing needs. 

5. Material matters

A low-maintenance home can go a long way in preserving your sanity.

Interior design trends are witnessing a massive rise in the demand for furniture and surfaces made of sustainable, low-maintenance materials. Choosing low-maintenance materials like quartz countertops (no staining, scratch-resistant) in place of high-maintenance, porous materials like marble, or picking composite materials (no bloating, no rotting) instead of actual wood, means less cleaning. Throw in the fact you may be sharing a home with sticky-fingered children or an adult who hasn’t gotten the hang of “adulting” and you will find a low-maintenance home can go a long way in preserving your sanity. 

Need a home makeover? Ohmyhome Renovations is here to turn your vision into reality!

Renovation not just improves the overall value and aesthetic of your house, but it allows you to enjoy your home to the fullest and incorporate a part of yourself into the spaces around you. So sit back, relax and let us turn your house into a home, because at Ohmyhome, we’re always by your side, on your side. 

Engage our experienced team of interior designers and contractors for a well-executed home renovation project. Call us at 6886 9009 to secure an appointment with any of our Interior Designers or message us in the chatbox at the bottom, right-hand corner of the screen. You can also WhatsApp us at 9755 9283! Or get a free quote for your home in seconds!

Read about these Instagram influencers’ homes and interior design inspirations:

4 Things to Consider Before Buying HDB Resale Flat in 2022

Posted on by Maelyn Lagman

An older version of this article is still available here.

If you’re in the market for a resale HDB flat and want to lock in your actual dream home that ticks the boxes of all your requirements, check out this guide before you make any decisions.

#1: What type of HDB flat are you looking to buy?

There are different types of HDB units for different types of buyers. For example, a 2-room flat is great for singles or low-income families and the bigger, 4-room types are more suited for young couples or families.

To know what will work for you, here are the different HDB flat types and the buyer profiles they may be intended for:

  • Studio apartment – For one or two people who wish to live independently. They are available in 36 and 45 sqm varieties. Even the elderly can opt for this.
  • 2-room flat – Hovering at 45 sqm, this dwelling targets smaller households.
  • 3-room flat – Coming at 60-65 sqm each, this flat is a great living option for growing families who are still on a budget.
  • 4-room flat – At a modest 90 sqm, this unit affords its owners an adequate amount of space. The best part about it is that it’s customizable; the space can be tailor-fit for whatever your needs may be.
  • 5-room flat – A much more spacious variation of the other flats, this variety offers a full 115 sqm of living space, which is more than enough for most.
  • 3Gen flat – Specifically for multi-generational families, the 3Gen comes at 115 sqm. If you want to see them for yourself, units like these can be found in Yishun.

#2: How much can you afford?

Buying a home will be one of the biggest investments you’ll make in life, and they’re not exactly cheap, so it’s important to know your budget before committing to a flat purchase.

To determine your budget, you should review your bank statements and spending habits for the last couple of months to figure out how much you’re spending on everything from phone bills to streaming services to restaurant takeouts.

You should also calculate:

  • How much you can loan from HDB or the bank
  • The amount of CPF savings you have in your Ordinary Account
  • If you’re eligible for any CPF housing grants
  • Your total cash savings and how much you’re willing to fork out for this property purchase

This is important to work out because your budget will be used for:

  • Property purchase price
  • Stamp duty
  • Legal fees
  • Resale levy (if any)
  • Moving expenses (if any)
  • Renovation (if any)
  • Furnishing
  • Maintenance

You can use Ohmyhome’s Affordability Calculator to work out the sums. Simply fill in the details for each field, like how much For a more in-depth financial calculation and professional advice from an experienced property agent, WhatsApp us at 9755 9283 and our Relationship Managers will connect you with one of our agents.

Now that you have a better sense of your budget, figure out where you want to live.

#2: Where do you want to stay?

Location is one of the main things that potential home buyers consider, and it might be the same for you. But how do you even go about choosing where you want to live?

1. Choose a neighbourhood

What makes a good neighbourhood? The answer to that question is going to be different for everyone. But you can quickly narrow your choices by focusing on some key factors:

  • Where can you afford a home?
  • Are you working from home or commuting?
  • Do you want to be near good schools?

Spend some time in the neighbourhoods you’re considering and check out the shops, restaurants and public spaces to get a better feel for the place. This will give you a better sense of your proximity to amenities, such as schools, malls, grocery stores and recreation/entertainment centres, that will aid your lifestyle.

2. Visit the property and go for a viewing or open house

Chances are that even before you’ve officially started your home search, you’ll have spent a little time browsing property search platforms such as Ohmyhome, to see the homes available in the town you’re considering.

To zoom in on what you truly want, you may eliminate sections of your chosen town that don’t have the style or size of home you want at the price you can afford. Going to open houses and home viewings can also help you get a better sense of what’s in store in the area.

Is the HDB block right next to the road or a playground? If it is, it may get noisy at certain hours. After school, the sound of children screaming may grate on your nerves. Or during peak hours, you may hear more honking and engines revving.

Seeing the state of a home in real-time and getting to poke around the space will also reveal things that video simply can’t. What if your property agent is using an old Samsung instead of the latest iPhone and due to poor video quality, you can’t really tell if the wall paint is peeling or if there are pests hiding in nooks and crannies?

That’s why, during the viewing, you should:

  • Open the closets to check the storage space.
  • Pull back the curtains to consider the view, especially from your bedroom. Is it facing the loading or unloading bay? These areas can get noisy during peak hours.
  • Does your kitchen catch the afternoon sun? This is important as it’s where homeowners usually hang their laundry to dry. North-South facing is also generally preferred by buyers for a lesser amount of direct sunlight and better cross-ventilation throughout the year.
  • Inspect the pipings, ceilings and walls to consider the maintenance needed to keep the flat in shape.
  • Ask a lot of questions: How far is the home from trains and buses? If you are working from home, what is the daytime noise level? Why do the sellers want to move? When were the last improvements? How much do utilities cost? Have any offers already been made?

If you have a packed schedule, opt for virtual tours instead! Thanks to advanced technology, most listings will be accompanied by a 3D walkthrough of the home. You may also ask your agent to view a unit for you while on a video call with you.

#3: Is the flat maintained well?

Maintenance is key when owning a home. But with a resale HDB flat, you can never be too confident of the previous owner’s home maintenance efforts. Here are some things to check:

  • Are the floor tiles in good condition?
    Check if they’re cracked or uneven, which may happen over time. Tiles may even dislodge if the temperature dips. Replacing your tiles may add to your already long list of expenses in buying a home, so if you don’t want to include tiling works in your home reno — if you’re even planning on one — ensure that the tiles are in good condition.
  • Are the doors still intact?
    Doors may sag over time and become misaligned with the latch. When this happens, you can adjust the loose hinges — but this takes time and effort that you may be better spent somewhere else.
  • Are the electric sockets still working or do you need to get them replaced?
    Electronics like your TV and appliances like your refrigerator are just some of the essentials that you need to plug in, and damaged electric wiring and sockets can be troublesome. More importantly, if it’s in good condition, you can avoid electric leakage that could lead to potentially fatal electric shocks or even a fire-related accident. 
  • Are there any choked or leaking pipes? A clogged or leaking drain pipe may seem like a small problem, but it can snowball into a bigger and more expensive issue like flooding, corrosion, slow water drainage, or even sewage backup.

#4: How old is the HDB flat?

The longest remaining lease a resale HDB flat can have is about 94 years. When HDB flats are first built, they have a fresh, 99-year lease. For it to become a resale flat, you will need to wait 5 years — the typical Minimum Occupation Period (MOP) — before you can sell it on the open market.

So if you deduct the 5 years from the 99-year lease, then a freshly MOP-ed resale HDB flat has about 94 years left — assuming that you sell it immediately upon MOP.

Now, resale HDB flats decrease in value once it only has about 30 or 40 years left on their lease, which makes it harder to sell in the future, maybe even risking selling it at a loss. Lee Hsien Yang calls this “the ticking time bomb of lease decay”, in which HDB flats turn into “depreciating assets worth zero”.

So a relatively newer resale flat may be better for you, with at least about 80 years’ lease left. They may be in better shape and require less renovation work as well.

Looking for an HDB or private property?

Let Ohmyhome’s smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need. Because at Ohmyhome, we’re always by your side, always on your side.

You can message us in the chatbox at the bottom, right-hand corner of the screen to secure an appointment with any of our Super Agents.. You can also WhatsApp us at 9755 9283!

Former Surrey Point in Newton Acquired for New Residential Development

Posted on by Ohmyhome

A new, freehold residential development is coming to the Newton area! The former Surrey Point, at the junction of Surrey Road and Newton Road, has been acquired by Singapore-based property developer and hotelier Amara Holdings for $47.8 million or $1,434 per square foot per plot ratio (psf ppr).

The 11,977 sq ft 10-storey apartment building was launched for collective sale via public tender in January 2021, with a maximum permissible gross floor area (GFA) of 35,882 sq ft, inclusive of the additional 7% bonus GFA for balconies. Property experts predict that the site, which is well-located and attractively priced for discerning homebuyers, can yield 36 units with an average size of 914 sq ft. 

While Surrey Point’s residential successor will likely be in the pricier range, property experts have noted the palatable development charge of $294,000. On top of that, factors such as its proximity to the Newton MRT Interchange, about a 10-minute walk away, prestigious schools and major shopping districts may have boosted investor confidence in the land’s sale potential as well.

What sets the new launch at former Surrey Point apart?

Unparalleled accessibility

Leisurely pacing down Newton Road to cross Dunearn Road and the Newton Flyover will take you to Newton MRT Interchange in less than 10 minutes. This literally puts you within one stop of the food and shopping districts of Orchard Road and Little India via the North-South Line and Downtown Line respectively. 

Newton MRT Interchange is only a 10-min walk away from the former Surrey Point land site. | Source: Street Directory

If you’d rather not take the train to get your retail therapy fix, then there are still plenty of options within walking distance. Novena Square shopping mall can be reached within a short 5-minute drive, and the United Square Shopping Mall is even closer in just 3 minutes. In fact, you could get there in just 6 minutes on foot if someone else is using the family car.

And if you thought that that was all Surrey Point has to offer, you thought wrong! Fancier retail options are aplenty at Courtyard by Marriott Hotel and Royal Square, both taking just slightly over 10 minutes by car. For a little bit of nostalgia, you can also hop over to Goldhill Shopping Centre in just 5-minutes.

No shortage of local cuisine

In the unlikely scenario where you grow bored of the food found within the various shopping malls, nostalgic local gems are just waiting around the corner for you to try. The lesser known Pek Kio Market & Food Centre, while inaccessible to most, can be reached from your residential area in a short 5-minute drive. Not only is this underrated food court home to the Michelin Hong Kong Style Pin Wei Chee Cheong Fun, you’ll also find classics such as carrot cake and fried prawn noodles here.

And if you want a classic chinese banquet-style feast to celebrate the occasions, Chui Huay Lim Teochew Cuisine can be found right next to Rochelle@Newton and Newton Life Church just 6-minutes away by foot. Serving heritage on a plate from Singapore’s founding Chinese dialect group, diners will get to enjoy elevated classics such as braised duck with beancurd slices and luxuriously smooth yam paste.

An impressive line of educational institutions

Living at the former Surrey Point means receiving priority registration into some of Singapore’s top primary schools. Anglo-Chinese School (Primary), Anglo-Chinese School (Junior) and St. Joseph’s Institution Junior all lie within the 2km radius of the residential site. This gives your children an excellent chance at getting priority slots during primary one registration.

Living at the former Surrey Point means receiving priority registration into some of Singapore’s top primary schools.

Both Anglo-Chinese schools can be reached within just 4 minutes by car. Students attending the Primary institution will also get a wide selection of direct buses to choose from, namely 48, 67, 960 and 972M. Home will be nearby for students who attend the other institutions, too, considering that Anglo-Chinese School (Junior) and St. Joseph’s Institution Junior are just a 12-minute and 9-minute walk away respectively.

Moving onto the secondary level, students will get to choose between two distinguished options in Singapore Chinese Girls’ School and ACS (Barker Road). Located just outside the residential’s 2km radius, Singapore Chinese Girls’ School can also be reached via the same bus services that link students up with Anglo-Chinese School (Primary), allowing for a smoother transition into secondary school level as graduates can continue taking familiar bus routes.

Singapore Chinese Girls’ school offers both the 4-year GCE ‘O’ Level track as well as a 6-year Integrated program which will allow qualifying students to attain direct entry into Eunoia Junior College. While Eunoia Junior College is a little further away at Marymount, students will be able to take a restful 45-minute journey to and from school via the direct bus of 162. 

Just 1.7km and a 4-minute drive away is ACS (Barker Road), a school that offers the three traditional routes of Express, Normal (Academic) and Normal (Technical) streams. ACS (Barker Road) is one of the 30+ schools to offer Full Subject-Based Banding from 2022 as well as customised 1-to-1 digital device learning to encourage self-directed study and a personalised approach to academics. Students can also enjoy the same four bus services for a short 13-minute ride to and from school.

Healthcare assurance with Tan Tock Seng and KK Hospital

Residents with chronic health conditions, elderly members, or parents who wish to give birth to more children will be in very good hands because the future residential at Surrey Point will not only be served by one, but two hospitals. 

Tan Tock Seng Hospital is just a 5-minute drive away and can even be reached in 5-minutes by bike. The bike option is admittedly not ideal for patients who are not in the pink of health, but can be a quick way for caretakers and family members to pick up medical supplies. Patients who naturally do not fancy the idea of riding a bike to receive medical attention can head down to KK Women’s and Children’s Hospital in 12-minutes via a bevy of bus services (56, 57, 166, 851, 980). For emergencies, the hospital can be reached within 4-minutes by driving along Thomson Road and Newton Road.

Looking for private property?

Let Ohmyhome’s smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need. Because at Ohmyhome, we’re always by your side, always on your side.

You can message us in the chatbox at the bottom, right-hand corner of the screen to secure an appointment with any of our Super Agents.. You can also WhatsApp us at 9755 9283!

Read about other future private developments in Singapore

How to Make Your Neighbours (And HDB Officials) Love You in 12 Easy Ways

Posted on by Maelyn Lagman

Finding a home can be difficult, and moving in may be more exhausting than you think, but nothing is worse than realising you’ve spent half of your life savings on a new home only to live next to a neighbour who slams their gate daily, fills the corridor with bulky bicycles or caged birds, or disposes of literally anything out their window, posing as a safety hazard for the rest of the block.

If that sounds like a nightmare to you, then you should make sure you’re not that kind of neighbour either.

You don’t have to clean your whole block twice a month like this middle-aged woman in Tampines. All you have to do is abide by HDB’s rules so you can keep your neighbours safe and avoid run-ins with the authorities.

Here are the 12 rules you should follow if you’re living in an HDB flat

#1: Do not obstruct the corridor with your personal belongings

That includes potted plants, bicycles, bird cages or what have you. Not only will clutter block the area’s accessibility, but it will also make it look aesthetically displeasing.

Cluttered corridors can be a fire hazard. | Source: AsiaOne

If you own a corner unit, you shouldn’t treat the generous space outside your house as your personal storage room. That means, keep your spare bicycle wheels and cleaning supplies inside.

Don’t get carried away with the space and start setting up your own cafe nook there, either. It is not your balcony; other people will still need to access it to get to a staircase or a lift. So those chairs and tables will have to stay in your kitchen.

Speaking of staircases, it should be clear of stuff too. Leaving anything there may hinder search and rescue attempts by authorities, and block you and your neighbours’ escape routes, in case of fire or other emergencies.

#2: Do not smoke in the corridor, stairwell or void deck

Despite the large warning labels on cigarette packaging, there’s no stopping those who want to smoke from smoking. And you know what, fair enough. You do you, as they say. Just don’t smoke in the corridor where the smoke can travel into your neighbour’s living room where their baby could be sleeping.

Smoking in HDB corridors and void decks is illegal.

You’re not allowed to smoke in the stairwell or void deck, either.

Aside from these places, you should be good.

#3: Do not walk around your flat in the nude with your windows wide open for all to see you

Singapore may be progressive about certain things, but not public nudity. That means, you have the liberty to be as au naturale as you want inside your home, but not when other people can see you.

Invest in some curtains instead and remember to draw them before stepping out of your clothes or towel. If you’re caught walking around nude in your flat and flashing your neighbours, you can be arrested and fined at least $2,000 under Section 27A of the Miscellaneous Offences (Public Order and Nuisance) Act.

#4: Do not keep a cat in your HDB flat

Sadly, you’re still not allowed to keep a cat in your flat. Though Nee Soon GRC Member of Parliament (MP) Louis Ng tried really hard to get it reviewed by Parliament.

An excerpt of Nee Soon GRC MP Louis Ng’s Facebook post on why cats should be allowed in HDB. | Source: Facebook

According to HDB, cats are not allowed in flats because “they are generally difficult to contain” and “tend to shed fur and defecate or urinate in public areas when allowed to roam indiscriminately”. Oh, and they “make caterwauling sounds”, which can inconvenience your neighbours. (Not that dogs don’t shed fur or bark, but that’s beside the point.)

On the other hand, dogs are allowed to be kept in HDB flats. But only one. And only of a certain kind.

#5: Do not keep more than one dog, and only if they’re of a breed approved by HDB

You are allowed to keep only one dog in your flat, and it must be one of the 62 breeds that HDB listed here.

Here are the 62 HDB-approved dog breeds

AffenpinscherAustralian Silky TerrierAustralian Terrier
Bichon FriseBohemian TerrierBolognese
Brussels Griffon (Griffon Bruxaellois)Bichon HavaneseBorder Terrier
Boston Terrier
(a) Lightweight
(b) Middleweight		Cairn TerrierCavalier King Charles Spaniel
ChihuahuaChinese Crested DogChinese Imperial Chin
Chinese Temple Dog (Classic and Miniature)Coton de tulearCzech Terrier
Dachshund (Light and Miniature)Dandie Dinmont TerrierEnglish Toy Spaniel
Griffon BelgeGerman Hunting TerrierGriffon Brabancon
Hairless DogItalian GreyhoundJack Russell Terrier
Japanese Spaniel (Chin)Japanese SpitzLhasa Apso
Little Lion DogLakeland TerrierMaltese
Manchester TerrierMiniature PinscherMiniature Schnauzer
Norfolk TerrierNorwich TerrierPapillon
PekinesePomeranianPoodle
PugPoodle (Miniature)Schipperkee
Scottish TerrierSealyham TerrierShetland Sheep dog
Shih TzuSilky TerrierSmall Continental Spaniel
Small English TerrierSmall SpitzSmooth Fox Terrier
Toy Fox TerrierToy TerrierTibetan Spaniel
Volpino ItalianoWest Highland TerrierWire-Haired Fox Terrier
Welsh TerrierYorkshire Terrier

Your pet dog must also be licensed by the NParks Animal & Veterinary Service (AVS).

Other pets you can keep are fish, hamsters and birds.

#6: Do not throw your trash outside your window

It may seem more convenient to dispose of your trash out your window, but it’s not the cleanliest nor the safest way to do so.

Whether it’s smaller items such as a candy wrapper, tissue or noodles, or bigger ones such as books or bags of clothes, it is unsafe. It’s also littering, which is bad for the environment, and most importantly, illegal.

Speaking of throwing trash…

#7: Bag your trash before disposing of it in the rubbish chute

Put your trash in a bag before chucking them in the rubbish chute.

You can easily find rubbish chutes in HDB flats and blocks. If you live in an older flat, you’ll find a rubbish chute inside your home, and if you live in a newer flat, it will be near your floor’s lift. So why throw something out the window when trash disposal is already made so convenient?

That said, do put your trash in a bag before chucking them in there, even if it’s just your parcel package. But don’t put too much at one time or it will all be stuck there and you’ll have a whole other problem on your hands.

Remember: Do better!

#8: Do not hang dripping-wet laundry outside

Laundry hanging on bamboo poles is pretty much the picture of HDB living. It’s part of the HDB lifestyle and everyone does it. That’s not the issue.

Source: HDB

The issue is if you hang your laundry to dry outside and it is dripping wet. You should drain any excess water from your clothes before hanging them to dry so you don’t get the drying clothes on the floor below yours wet too.

#9: Keep things quiet from 10.30 p.m. to 7 a.m.

We get it: When you’re belting out Aerosmith’s I Don’t Wanna Miss A Thing on karaoke with your BFFs, you may not feel time passing. But you really should because once the clock strikes 10.30 p.m., you have to keep things down. Be conscious of those around you and avoid playing music too loudly or holding social gatherings late into the night, like playing card games and drinking on a stairwell.

HDB residents playing card games at a Yishun HDB stairwell in the wee hours of the night until early morning. | Source: Mothership

Renovation works are also not allowed to occur between 10.30 p.m. and 7 a.m.

HDB has received 3,200 noise-related complaints a month in 2021, up from around 400 a month in 2019. Let’s all work together to bring that number down and be mindful of each other’s needs, i.e. rest, sleep, peace.

#10: Do not list your home for rent on Airbnb

If you don’t know this yet, now you do: short-term rentals are illegal. That means putting up your flat for rent to tourists on Airbnb is also a no-go.

The minimum rental period is 6 months for HDB flats (3 months for private housing) and they cannot be rented out to tourists. Read this quick guide on regulations for renting a property in Singapore.

#11: Do not use your flat as an office for your big-scale business

If you’re a freelance artist, photographer or writer, you are allowed to work from home. This is according to HDB’s Home-Based Small Scale Business Scheme.

If you bake or sew for a living, do hairdressing, or if you’re a nail technician and offer mani-pedi services, you’re also allowed to run your business at home.

You do not need to seek approval from HDB for the above-mentioned small-scale businesses.

Small home-based businesses are allowed to be operated in HDB flats, like manicure and pedicure services.

What’s not allowed, however, is businesses that involve the hiring of workers as third parties and non-resident employees are not allowed to work in the flat. A home-based business must be operated by the flat owner, though, or a registered occupant or tenant (with the owner’s consent, of course).

Massage services are not allowed in HDB flats as well. (If you want a massage at home, just get your family or friends and cook them up a meal as payment.)

Speaking of services…

#12: Do not have more than 3 tuition students at a time in your flat

Tuition centres exist for a reason, one of them being so you won’t have to set up one at home. So if you provide tuition services, you should only be teaching three students at a time to reduce the noise coming from the kids you’re teaching. Because we all know, studying or not, children can make a lot of noise.

Looking for your own HDB flat?

Let Ohmyhome’s smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need. Because at Ohmyhome, we’re always by your side, always on your side.

You can message us in the chatbox at the bottom, right-hand corner of the screen to secure an appointment with any of our Super Agents.. You can also WhatsApp us at 9755 9283!

5 Fundamentals of Selling Your HDB – You’ll Never Go Wrong With These

Posted on by Maelyn Lagman

For all the tips and tricks in the world on how to sell your resale HDB flat, these are the five things you really need to keep in mind before starting the process. They’re easy to understand and follow, which is why you shouldn’t neglect them. You can listen to Ohmyhome co-founders Rhonda and Race Wong explain these steps in more depth on Business Times’ podcast, Money Hacks.

1. Price your unit correctly

Striking the right balance is key to selling your HDB flat. Set the price too high and you may drive home buyers away; set it too low and you might face a deficit in your profits.

Rhonda and Race say, “Benchmark the price of your property against the other units in your area.”

The quickest way to do that is now online! Get a free home e-Valuation on Ohmyhome for an instant estimation of how much your unit is valued today. You can also download our app to access our in-app valuation calculator.

2. Declutter your unit before a viewing

There are simple ways you can do now to actually increase the value of your home before you sell. Decluttering your home before a viewing or taking a photo for your listing can accentuate the space of your home and draw buyers’ interest.

Be sure to concentrate on busy areas of the home like the kitchen, kid’s room, bathroom and living room.

3. Meet your Minimum Occupation Period (MOP) before selling

The Minimum Occupation Period sets the baseline for how long you are required to physically occupy your flat before you can sell it. The MOP is typically 5 years, though it can be shorter or longer depending on your flat type. To be safe, you can check your flat’s MOP on the HDB website.

4. Remember to register Intent to Sell

You can’t begin your home-selling journey if you don’t register your Intent to Sell in the HDB Resale Portal.

The reason this is so important is this is the stage where HDB will assess your eligibility to sell. Upon registration, you will also receive information on the Ethnic Integration Policy (EIP) and the recent transactions in your area.

The Intent to Sell will be valid for only 12 months.

5. Be mindful of the Ethnic Quota

Familiarise yourself with the Ethnic Quota (also known as EIP, as mentioned above). Simply put, it is a cap on the number of households within the same ethnic group that can occupy an HDB block or neighbourhood.

This is important to know because once a particular ethnic group has been reached, additional households of the same ethnic group will not be eligible to move into the affected block or neighbourhood.

Checking your EIP eligibility is straightforward. Simply go to HDB’s EIP enquiry page and indicate your address, ethnic group, citizenship status and whether you are a buyer or seller. It literally takes less than a minute, and the results are instantaneous.

Sell your home fast and at the best price!

Sell your home for a high price in no time, hassle-free. Starting at 1% + GST of selling price. Our Super Agents are CEA-certified and among the Top 1% in Singapore. With more than 180,000 happy customers served, we’ve garnered 4-star ratings on both Facebook and Google! We go in-depth about what you can expect when you engage an Ohmyhome HDB Seller Agent.

Call us at 6886 9009 to secure an appointment with any of our Super Agents or message us in the chatbox at the bottom, right-hand corner of the screen. You can also WhatsApp us at 9727 5270!

Related posts:

Upcoming New Launch at Slim Barracks Rise Parcel A & Parcel B

Posted on by Ohmyhome

Two mixed-use sites on Slim Barracks Rise, conveniently flanked by Buona Vista MRT and one-north MRT, had their tenders closed in September 2021. As property experts predicted, the two government land sales (GLS) sites drew in an impressive number of bids — ten each, to be exact — indicative of the amount of potential they foresee for the future development and the area.

Both Slim Barracks Rise Parcel A and Parcel B have a 99-year lease and were released by the Urban Redevelopment Authority (URA) in June 2021. URA intends for both sites to be developed for a blend of commercial and residential use, as part of statutory board JTC Corporations’ efforts to fill up the one-north area with more residential units. They have thus permitted developers to build commercial spaces within the first storey on these two sites. 

The 99-year land parcel A at Slim Barracks Rise is only a few minutes’ walk away from one-north MRT. | Source: URA

Parcel A has a total area of 85,648.4 square feet (sq ft) and received its top bid of $320.1 million or $1,245.7 per square foot per plot ratio (psf ppr) from EL Development. It is expected to yield about 265 residential units.

EL Development’s high bid took property experts by surprise, exceeding the bid made by one of Kingsford Development’s owners Gao Xiuhua, which was the second-highest bid of $316.1 million or $1,230.2 psf ppr by 1.27%. However, Gao Xiuhua did not walk away empty-handed, snagging the 63,901 sq ft Parcel B with a bid of $162.4 million or $1,210 psf ppr. Parcel B is expected to yield about 140 residential units.

Developers see potential for Slim Barracks Rise GLS sites

While the high bid prices were a bit of a surprise, hindsight shows that developers did have reason to be optimistic about the property market. In April 2021, nearby development One-North Eden had sold 141 of its 165 units at a median price of $2,009 psf within the first month of its launch. The previous Slim Barracks Rise GLS residential site launched in 2019 also drew in a winning bid of $1,001 psf ppr, which may have given investors greater confidence to bid their top dollar this time around. 

Of course, some experts also noted that the high bids may be a sign of developers looking to replenish their declining land banks. The two Slim Barracks Rise parcels in particular would serve as good additions to many developers’ land banks thanks to their manageable size. 

Property developers of Slim Barracks Rise Parcel A 

Parcel A developer EL Development is a familiar face in the local property scene with an impressive list of accolades. Notably, the real estate development and investment company bagged three awards at the Asia Pacific Property Awards Singapore 2021 – 2022: 

  • Best Architecture Multiple Residence Singapore
  • Best Residential High Rise Development Singapore
  • Residential High Rise Architecture Singapore

All three awards won based on their success with Pullman Residences, Newton, a freehold property near Newton MRT which sold for an impressive average price of $2,930 psf in September 2021.

Gao Xiuhua of Kingsford Development won land Parcel B at Slim Barracks Rise with a $162.4 million bid. | Source: URA

Developer for Slim Barracks Rise Parcel B

Parcel B bid winner Gao Xiuhua forms one-half of property management company Kingsford Development. A subsidiary of Kingsford Group, Kingsford Development bagged the Singapore Prestige Brand Award from the Association of Small & Medium Enterprises in 2019. The company operates in Singapore, China, and Australia and has launched a bevy of condos since 2012. One of their recent launches, Normanton Park, saw 80% of its 600 units sold at an average of $1,750 psf within its 13-day preview in January 2021.

What you can look forward to at Slim Barracks Rise, one-north

Access to two MRT lines from one location

Slim Barracks Rise Parcel A and Parcel B are conveniently located within a brisk 4-minute and 6-minute walk to Buona Vista MRT respectively. To make the deal even sweeter, you can also reach one-north MRT by walking southwards in just 8 minutes.

Source: The Straits Times

Surrounded by reputable schools

Slim Barracks Rise Parcel A is nestled in the heart of an impressive school network, formed by the likes of the Fairfield Methodist schools, Anglo-Chinese School and the National University of Singapore (NUS). No matter what age your school-going children are at, you won’t have to worry about sending them on long commutes during the rush hours of the morning.

Direct buses 196 and 74 will take students directly to Fairfield Methodist Primary, giving primary schoolers an opportunity to learn how to take public transportation independently from a young age. The fact that the school lies within the 1km radius of both land parcels means that your child will get priority bidding during primary one registration.

WATCH: Primary School Registration: Does Where You Live Really Matter? 

Speaking of priority, your child will receive bonus points for their entry into the neighbouring Fairfield Methodist Secondary after their PSLE. Complete with the school’s Partners-in-Education program, your child will be able to grow up in an environment supported by dedicated teachers and parents of their peers. 

Slim Barracks Rise Parcel A is nestled in the heart of an impressive school network, including National University of Singapore (as pictured).

Should your child decide to proceed with the pre-university route after graduating from secondary school, they’ll have the option of attending ACS (Independent). And guess what? ACS (independent) is right next to the two Fairfield Methodist schools! Besides offering your children a convenient educational path from primary to pre-university levels, siblings will also remain close by to support one another even if they are attending schools of different levels.

For students who are more hands on, Singapore Polytechnic is located just further to the West. Once again, bus service 196 will take you directly to the campus. Complete with part-time courses for working adults and polytechnic foundation programmes for outstanding ‘N’ Level certification holders, Singapore Polytechnic is a great place to receive vocational training no matter where you’re at career-wise.

Once your children come of age, they’ll be able to head to NUS directly via bus services 200 and 92, or the Circle Line in approximately 30-35 minutes. If you’ve ever seen the morning crowd at Kent Ridge MRT station, you’ll know that it’s a blessing to have several transportation options on hand. Between juggling their social lives, studies, part-time jobs and internships, your children will no doubt be grateful to have a home located so close to their lecture halls so that they can come home to recharge after a long day at school.

Proximity to healthcare at National University Hospital

Source: NUHS

Direct transport to NUS also means direct transport to the National University Hospital (NUH), making Slim Barracks Rise a choice option for families who are living with elderly family members. The hospital provides good geriatric care programmes such as the Interim Disability Assistance Programme for the Elderly to assist patients with rehabilitation and recovery.

Of course, medical access will benefit the entire family as well. Whether for pregnancy checkups, annual general health checkups, or for people with chronic conditions, living close to medical facilities will always provide that extra layer of comfort and security in case of emergencies.

The icing on the cake is that trainee doctors and nurses as well as NUH staff who will live at Slim Barracks Rise will also enjoy a quick commute back home everyday. It’s no secret that the medical industry is one of the most physically taxing ones out there, so living right next to the hospital can help take that little bit of burden off their day-to-day lives.

Retail and food options

No neighbourhood is complete without good retail and dining options. Thankfully, you won’t have to look very far if you’re looking to treat yourself to a nice dinner date or family meal. Fusionopolis and The Star Vista offer a range of delightful cuisines, whether you’re looking for something fancy or something more affordable but equally delicious. From collagen hotpot to poke bowls to bubble tea, you name it, they have it.

Daily essentials can be found in the basement of The Star Vista at Cold Storage’s CS Fresh. J-mart also provides specialty ingredients like short-grain Japanese rice or sake and mirin.

Should you ever get tired of the food in the vicinity, then more options will await you at Holland Village MRT just one stop away. Children will no doubt enjoy their burger fix at Fatboy’s The Burger Bar, while parents can indulge in nostalgic flavours at Tai Cheong Bakery or Crystal Jade. There’s no shortage of chic cafes in the area for young adults to go on dates, or simply get some work done, too. 

Looking for private property?

Let Ohmyhome’s smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need. Because at Ohmyhome, we’re always by your side, always on your side.

You can message us in the chatbox at the bottom, right-hand corner of the screen to secure an appointment with any of our Super Agents.. You can also WhatsApp us at 9755 9283!

Read about other future private developments in Singapore

Ohmyhome Is the First Property Platform Solution in Singapore to Pioneer Property Ownership Verification With Singpass

Posted on by Ohmyhome

As of today, Ohmyhome’s 110,000 monthly active users in Singapore can access Singpass-verified property listings on the platform. This initiative is part of Ohmyhome’s effort to enhance the security of its platform and ensure the authenticity of all listed properties. This security feature is currently tailored for HDB homeowners who wish to sell or lease their properties, by allowing them to verify their listings automatically via Singpass. With Singpass-verified listings, it will promote a more secure seller-buyer and landlord-tenant communication.

A property platform you can trust, with Singpass-verified property listings

Scammers are getting smarter and more creative with their tactics in 2021, as scam cases surged by 53% from 2020. In fact, the police have warned against the recent spate of rental scams involving fake property listings that cost about 144 victims at least $19,000 in money lost since January 2022.

It is not only important for the public to be well-informed and discerning, but companies who are handling transactions and confidential information need to step up their efforts in enhancing security and compliance.

 
 
 
 
 
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Ms. Race Wong, CPO of Ohmyhome, states “In today’s digital era, it is our absolute duty to ensure that we provide a secure and trusted platform for our customers.  We have partnered with The Government Technology Agency (GovTech) for it is the most adopted national digital identity system in the world, with over 4.2 million users in Singapore. This collaboration will upgrade the authenticity, security and convenience factors in property transactions, and we are proud to say that we are now the first and the only prop-tech platform to do so, and will continue to strive to improve customer experience and trust in our services.”

Dive Deeper: How to Spot Property Agent Impersonation Scams in Singapore

With a DIY platform that allows genuine sellers and landlords to conveniently list their properties for sale or rent, and for genuine buyers and tenants to look for their ideal home and place of accommodations, Ohmyhome has taken the necessary steps to progressively strengthen its anti-fraud policies to reduce impersonation cases with Myinfo’s unique customer’s data, and protect their customers and enhance customer experience. Ohmyhome also enforces a strict compliance policy that will only retrieve users’ Myinfo data upon permission in Singpass. Ohmyhome will only collect the minimum set of data required to verify their homes for sale and rent, and all data sent between Ohmyhome and Singpass are encrypted.

What does this mean for Ohmyhome platform users?

  • HDB Property listing ownership verification can now be done via Singpass
  • A more convenient way for owners to list and verify their HDB properties simultaneously, with Myinfo’s automatic form submission instead of manual entries
  • A more secure environment for seller-buyer and landlord-tenant communication, as buyers and tenants will be able to locate a genuine and verified property listing easily, which will reduce scam cases drastically.

In August 2022 

  • It will be compulsory for all HDB and Private property listings to be verified on Ohmyhome.
  • Property listing ownership verification will be able to be done via (i) Singpass or (ii) Manual submission of documents

How it works

Step 1: Download the Ohmyhome app and start listing your HDB flat

Step 2: Tap on “Retrieve Myinfo with Singpass”

Step 3: Upon successful verification, your information will be filled automatically

Step 4: Your verified listing will display a Singpass-verified icon.

List your home for free on Ohmyhome – no hidden fees!

Post a property listing for sale or for rent within minutes on the Ohmyhome mobile app, available on App Store and Google Play. You can browse multiple ShoutOuts from buyers and tenants that tell you their preferred property, from location to budget. If it matches your listing, you can suggest it to them immediately, start a conversation, and close a deal — all in one app.

3 Useful Features on Ohmyhome App for Foreigners Renting in Singapore

Posted on by Ohmyhome

Navigating Singapore’s complex housing market can be tough for native Singaporeans, let alone foreigners looking for a new home. That’s where Ohmyhome comes in — to make housing transactions simple, fast, and affordable for you to find a home. Here’s how!

1. Pinpoint the location you want to stay in and compare prices

Still navigating Singapore’s dozens of diverse neighbourhoods? Ohmyhome helps simplify the process, showing you where restaurants, public transportation, schools, shops, and more are located with each listing! Just select a listing to see if its location is ideal for you!

 
 
 
 
 
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2. Post the exact type of property you’re looking to rent

Oftentimes, it can be hard to find the exact kind of place you’re looking for. Ohmyhome’s ShoutOut feature makes it easy as pie, connecting buyers to sellers and tenants to landlords directly! With ShoutOut, you can post exactly what they’re looking for, letting Singaporean homeowners connect with you directly if they have a place that fits your needs.

Let’s say you’re looking for a 3-room HDB flat in Clementi, because your daughter will be attending university nearby and you’re joining a tech company in one-north, which is only 3 MRT stops away. If landlords see your ShoutOut on the app, they can click ‘Suggest Listing’ and start up a conversation with you immediately. No upfront costs whatsoever for you or for the landlord.

 
 
 
 
 
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3. Follow a step-by-step guide with all the links you need to rent

Renting a home isn’t just a quick decision; it’s a process that includes tons of paperwork and so much more. At Ohmyhome, we’ll be there for you throughout your entire journey, helping you navigate every aspect of renting a home in Singapore! With our Journey Guide feature, Ohmyhome offers an easy-to-follow checklist, turning a complicated process into an easy one! You’ll never have to worry about missing a step again.

To find our Journey guides, you only need to do the following steps:

  • Step 1: Sign in to your account
  • Step 2: Click “More” at the bottom-right of the home page
  • Step 3: Tap “Start New Journey”
  • Step 4: Select “Tenant” as your journey
  • Step 5: Choose the type of property you’re looking to rent, be it an HDB flat, a condo or a landed property
  • Step 6: Follow the steps listed!

 
 
 
 
 
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Download Ohmyhome from the Play Store or App Store now to try out all these amazing features for yourself.

TIP: If you’re using the app from abroad, make sure you change your application store’s default country settings in order to download the Ohmyhome app!

Save time and money by renting a home with Ohmyhome!

Let out smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need. Because at Ohmyhome, we’re always by your side, always on your side.

You can message us in the chatbox at the bottom, right-hand corner of the screen to secure an appointment with any of our Super Agents.. You can also WhatsApp us at 9755 9283!

Read more about renting a home in Singapore as a foreigner:

For Foreign Students: How to Start Renting a Home in Singapore

Posted on by Maelyn Lagman

On top of being considered an advanced technological hub in the East, a premier tourist’s paradise, and a strong economic juggernaut, Singapore is also known for being an amazing destination for students who want to study abroad.

The country’s natural mix of varied cultures in addition to its inherent high quality of education makes it a great place for experiences of all kinds, be it educational in nature or otherwise.

First things first though. If you’re one of the many students-to-be in Singapore, then you’ll need a decently priced yet well-maintained place to stay.

1. Keep your money in check

As a student, you’re bound to have a fairly limited budget. Of course, you won’t spend all that on your rent alone as you still have utilities, everyday expenses and savings to pay for.

The rate isn’t the only thing to look out for either; read your contract carefully and keep in mind that contracts set the minimum renting time for HDB units at 6 months. Luckily, this can be extended to up to a year or more.

2. Choose an optimal place to live

Keep in mind that you’ll travel back and forth between your home and University at least 5 days a week. That ought to be tiring if you live a considerable distance away, so you’ll want to get a unit that’s as close as possible.

If that’s not an option, then consider familiarizing yourself with Singapore’s easy-to-use, well-maintained transport system instead. Live near an access point and take advantage of all the LRT and MRT stops that are available across the country’s many districts.

Buses and taxi services add to the modes of public transportation, making it easy to get around quickly without having to spend too much.

Read more about renting a home in Singapore as a foreigner:

3. Figure out your space requirements

You’d be surprised at the range of HDB flat sizes. It can go from pretty much living in a closet to having enough room for a small family. Rent an HDB flat that matches the space you need and use your extra money to travel around the country.

On the other hand, getting a roommate to split the costs with is also another viable option. A little companionship never hurts.

4. Get a roommate if you can

With all the time you spend together, your housemates may very well end up as the highlight of your stay in the country. Better yet, they may even turn into lifelong friends.

Those with previous contacts should take advantage of that opportunity. If you already know someone who’s established in Singapore, don’t hesitate to ring them up and ask to settle in with them.

Just be sure to offer something in return for additional payment or help around the home!

Students who are bound to stay in Singapore are sure to have a good time, as long as the basics such as housing and finances are settled. We can help you start searching for a home to rent in Singapore.

On our free mobile app, you can post a ‘ShoutOut’ to publicly share the exact type of home you’re looking for. This can be seen by landlords, who will suggest their listing directly to you if your preferred home matches their listing. Let’s say you’re looking for a 1-room HDB flat in Clementi, because you’ll be attending SIM Global Education to get your Bachelor’s Degree. If landlords see this ShoutOut on the app, they can click ‘Suggest Listing’ and start up a conversation with you immediately. No upfront costs whatsoever for you or for the landlord.

Save time and money by renting a home with Ohmyhome!

Let out smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need. Because at Ohmyhome, we’re always by your side, always on your side.

You can message us in the chatbox at the bottom, right-hand corner of the screen to secure an appointment with any of our Super Agents.. You can also WhatsApp us at 9755 9283!

HDB FAQ: What is the Home Protection Scheme?

Posted on by Ohmyhome

If you own an HDB flat and are paying for your monthly home loan instalments with your CPF (or are intending to), and you want to make sure those loans are continuously paid up in the unfortunate event of death, terminal illness, or permanent disability…

Here’s how CPF’s Home Protection Scheme (HPS) can help you save money on insurance premiums and take care of your outstanding mortgage settlements so your kids won’t have to worry about losing their home or taking over the loan repayments in your absence.

Table of Contents:

  1. What is the Home Protection Scheme?
  2. How does it work?
  3. How do I apply for Home Protection Scheme?
  4. Am I eligible for the HPS?
  5. Is the HPS my only option for mortgage insurance?
  6. How much does the HPS cost?

What is the Home Protection Scheme?

The Home Protection Scheme (HPS) is a mortgage-reducing insurance that protects HDB flat owners and buyers. Here are 3 benefits you’ll enjoy with the HPS, according to CPF:

  • Settle your outstanding housing loan, up to the insured sum, with HDB or the mortgagee directly
  • Insurance coverage with one of the lowest premiums on the market
  • Pay your annual premiums automatic deduction from your CPF Ordinary Account (OA)

How does it work?

It’s basically a guarantee that you will have ownership of your HDB flat regardless of any changes to your living status. That means, you or your family will qualify for an insurance claim if the flat owner passes away, is diagnosed with a terminal illness, or becomes totally and permanently disabled. The amount that you can claim will be the remaining sum on your home loan.

For example, if the flat owner passes away and there’s an outstanding home loan of $50,000, it will be fully paid for by the HPS.

In the event that a member is insured before 1 March 2001, then your Single Premium (SP) HPS will cover you only up to 55 or 60 years old, depending on when you joined the scheme.

Incidentally, the board will extend your Annual Premium cover when your Single Premium cover has expired with an outstanding loan.

How do I apply for Home Protection Scheme?

Application for the HPS depends on where you got your home loan in the first place; online forms are also available.

Am I eligible for the Home Protection Scheme?

Since 1981, CPF has made the HPS compulsory for HDB homeowners who use their CPF funds to fulfill their monthly installment repayment, regardless of whether that’s in partial or in full.

If you fit this basic criterion, you are eligible to get the HPS. You may be required to undergo a medical examination to ensure you are in good health. CPF may request a copy of the medical report from your attending doctor when determining your eligibility for the HPS.

Should your CPF OA funds not be enough to cover your premium, then you can complete your payment via the following methods:

  • E-cashier or E-nets
  • AXS/SAM Stations
  • Cash at any Singapore Post branch
  • Cheque to CPF Board In addition, if anyone co-owns the flat with you, then you can authorize them to use their CPF OA savings to pay for your remaining balance.

That said, the HPS is not really for those who are able to pay for their flat’s purchase or monthly instalments in cash, though they can are still eligible for the HPS and can opt in.

Take note that the HPS does not cover any private residential properties, such as executive condominiums (ECs), privatised Housing and Urban Development Company (HUDC) flats. If you have an oustanding home loan for a private property, you should consider purchasing a private insurance coverage as it will not be covered by the HPS.

Read more articles about HDB:

Is the HPS my only option for mortgage insurance?

No, because there are other policies (or mortgage insurances) that can cover your outstanding home loans just as well. If you already have them, then you can apply to be exempted from it. Examples of other insurance policies are:

  • Whole Life
  • Term Life
  • Endowments
  • Life Riders (must be attached to a basic policy)
  • Mortgage Reducing Term Assurance (MRTA)/ Decreasing Term Rider

However, if you’re already covered by the HPS, then you’re better off keeping it on board and availing of other independent insurance to add to it instead. Keep in mind though that your HPS may be revoked if your other policies are changed or discontinued.

How much does the HPS cost?

There are 4 main factors that heavily influence how much your premium will be.

1. The outstanding home loan amount on your flat

The higher your loan, the higher the premium.

2. The repayment period for your flat

The shorter the period, the higher the premium. But, you only need to pay your annual premium for 90% of your HPS cover period. For example, if your cover period is 30 years, then you only need to pay for 27 years.

3. Your type of loan, either concessionary rate or market rate

This depends on when you took your loan out. If it was before 1 January 2003, then you might be under the then available HDB Market Interest Rate. Had you taken your loan out any later, then you would be subject to the HDB Concessionary Interest Rate instead.

The HDB Market Interest Rate vs. the HDB Concessionary Interest Rate

The former’s value was taken from the average loan interest rates offered by 3 local banks:

  • DBS/POSB
  • OCBC
  • UOB

On the other hand, the latter is calculated by adding 0.1% more to the current CPF interest rate.

4. Your age and gender

The older you are, the higher the premium. Generally, men also pay higher premiums than women do. Those who want to get a more exact estimate of how much the HPS will cost them can try out this online calculator.

Looking to buy an HDB?

Let Ohmyhome’s smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need. Because at Ohmyhome, we’re always by your side, always on your side.

You can message us in the chatbox at the bottom, right-hand corner of the screen to secure an appointment with any of our Super Agents.. You can also WhatsApp us at 9755 9283!

While the Information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the Information. The Information may change without notice and Ohmyhome is not in any way liable for the accuracy of any information printed and stored or in any way interpreted and used by a user.

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