It’s never too early to think about retirement adequacy — in other words, how you can supplement your income during your retirement years. Beyond CPF monies, personal savings, and possibly investments, home owners can also choose to unlock the value of their HDB flats in their golden years. Depending on your needs and preferences, here are some ways you can monetise your HDB flat:
1. Continue living in your flat
Mr and Mrs Lim, both 65 years old, chose to apply for the Lease Buyback Scheme (LBS) as they wanted to continue living in their existing flat. They received cash proceeds of $58,300, a monthly CPF LIFE payout of $1,090, and a cash bonus of $7,500.
You can consider monetising your flat under LBS if you have fulfilled the minimum occupancy period (MOP). Interested? Check out the eligibility criteria for LBS below, or on HDB InfoWEB:
If you are younger than 65 years old, there is the option of renting out your spare bedroom(s) for income. Remember to submit an application to rent out your bedroom(s) through My HDBPage or Mobile@HDB before the commencement of the tenancy, and refer to CEA’s tenancy agreement template for HDB flats.
2. Moving out and purchasing a 3-room or smaller HDB flat
Mr and Mrs A sold their 5-room flat (bought from HDB) and bought a 2-room Flexi BTO flat. They qualified for a Silver Housing Bonus(SHB) of $30,000 on top of their proceeds.
The SHB is applicable when home owners top-up their CPF RA with the proceeds of the sale. You can view the eligibility criteria below, or on HDB InfoWEB:
For the latest information on monetising your flat for retirement, visit HDB InfoWEB.
So, you have listed your HDB flat on the market and are anxiously waiting for prospective buyers to pop by for a viewing. You may be ready to seal the deal, but is your house ready?
You don’t need huge home staging budgets like the real estate agents on Netflix’s Selling Sunset – all you need are some tips and tricks to spruce up your HDB flat before you arrange for flat viewings.
They say a picture paints a thousand words – this is especially relevant when selling your HDB flat, as you need to stand out from the crowd of existing flat listings. Take good photos showcasing the flat’s layout and space to highlight its potential.
P.S. Remember to take the photos during the day – natural light is key.
2. Declutter the Space
Clearing clutter is not an easy task but no one likes a messy space, especially prospective buyers of a new flat. Clutter makes it difficult for buyers to see the potential of the flat – after all, they are here to view the space.
3. Keep It Clean
Once you’ve gotten rid of clutter, do give the flat a thorough mop and scrub, especially on frequently used appliances and furniture. The flat need not be 100% spotless, but should at least be tidy – you do not want prospective buyers to be put off by the stains and dirt.
If your flat’s got attractive attributes, flaunt them! Whether it’s an unblocked view of the neighbourhood, ample living room space, or a unique kitchen concept, you should leverage these attributes which may appeal to prospective buyers. Open the windows to show the amazing view, rearrange the furniture to highlight the spaciousness of the living room, or if you’ve got a HDB flat with a great view, opt for viewings to happen in the day so that prospective buyers can enjoy the scenery.
Make your guests feel welcomed to your home. Add some fresh flowers or potted plant on the dining table, or even use scents to create a warm and cosy ambience in your room or home – these small touches could leave a strong and positive impression on your prospective buyers.
Now your flat is ready to meet its prospective owner!
Good photos are key when selling your HDB flat. Not only do they showcase the flat’s potential, good photos will help set your home apart from existing flat listings. MyNiceHome caught up with experienced interior photographer Jino Lee, who gave us some tips on capturing the best side of your home!
1. Capture the Best Bits
Decluttering lets you capture the space and showcase its potential. An organised space also makes for appealing photographs, and helps prospective home buyers to visualise themselves living in the flat. To portray a cosy and lived-in look, include strategically placed coffee table books, coloured cushions or decorative plants in your photos.
2. Adopt Wide Angles
Wondering why the photographs aren’t doing enough justice to your flat? You might be using the wrong lens! Using wide angle lenses when capturing your shots can showcase the space to its fullest extent, and even make your house look more spacious.
3. Position Your Photos
Avoid out of perspective photos (left) by repositioning the angle such that it’s at eye level (right)
For a more accurate perspective of the space, capture your photos at eye level. At the same time, ensure that your photos angles are straight – if you require a little help, simply enable the grid option on your phone or camera.
4. Let the Light In
Never underestimate the power of good lighting. While natural light helps to soften the look of your photos, indoor lighting can also be used. Most importantly, ensure that the space is sufficiently lit to best showcase the space.
It might take some work, but the effort taken to showcase your flat will definitely be worth it.
With its sleek, textured velvet couch and a golden-accented coffee table on a luxurious rug, we wondered if we had accidentally stepped into the home of Jay Gatsby. Did we also mention the sparkling crystal chandelier hanging from the ceiling?
From left: Farhan, Fayona, and Yati
Yati and Farhan, owners of the 4-room flat in Tampines, explained that they were going for a modern luxe look with shades of white, black, and gold as the predominant colours. The dining table for instance, is made of pure marble, while the kitchen features a marble-mosaic backsplash and rose gold accents.
The kitchen, featuring a marble-mosaic backsplash
Adding to the glamorous vibe of the flat is the golden-accented bathtub in the master bedroom toilet. “It’s very good for relaxing in,” Yati laughs. “I really look forward to a nice soak – especially after a long day.”
The master bedroom toilet features a luxurious bathtub
Pops of gold that lend glamour
Yati meticulously picked out every piece of furniture and accessory, her keen eye for detail honed by her extensive experience in the fashion industry.
“We bought most of our furniture and accessories online,” Yati laughs. “I was determined to keep the theme consistent and would scour the Internet for the perfect piece.” Farhan agrees and says, “It took us a lot of effort, but it’s important to not settle.”
The modern luxe theme extends into Farhan and Yati’s rooms too. The master bedroom is plush and cosy, with an upholstered headboard and decorative wall panelling that would not feel out of place in an upscale hotel.
The master bedroom in shades of black, white and gold
The couple combined the master bedroom with the adjoining common bedroom, converting the latter into a walk-in wardrobe. This sun-drenched space features floor-to-ceiling white, gold-trimmed cupboards and drawers, complete with a textured seat that matches the sofa outside.
“The walk-in wardrobe offers us more space. It helps to keep our clothes organised and makes it easier to pick out our outfits,” Yati shares. “It’s something we’ve always wanted.”
The couple’s walk-in wardrobe
Daughter Fayona having her mid-day snack in the walk-in wardrobe
“Our interior designer was PSD Studio. It’s important to engage interior designers that can work independently – for instance, our designers oversaw most of the renovation process and there were no major issues,” Farhan says.
The couple’s renovation took a little over 2 months before they moved in on 11 August 2019. “We remember the exact date as we had combined the Hari Raya Haji celebration with our housewarming party,” the couple smiles. “It was definitely a day to remember.”
It was love at first sight for Yasmine when she chanced upon a banana leaf-inspired wallpaper. “The jungle vibe of the banana leaves called out to me,” the journalist smiles and continues, “In fact, the colours in the rest of the house are inspired by the wallpaper.”
Homeowner Yasmine
The colour green now takes centrestage in Yasmine’s home, which she bought after deciding to move to Toa Payoh to be close to her workplace. “I bought a resale flat here because I love the location – the MRT station is only a few minutes’ walk away and there is a lot of good food in the area. Plus, I can shop for most of my necessities and groceries within the neighbourhood! ”
“It is also convenient for my parents, who occasionally stay over to look after my son,” Yasmine adds.
The colours of Yasmine’s home are inspired by the living room’s feature wall
Green takes centrestage in the common bathroom
The seashell-inspired backsplash adds a pop of colour and texture
To optimise the space of her flat, Yasmine installed a sliding door for her master bedroom, and customised a sliding dining table. “Initially, I was sceptical about the concept of a sliding table in case some guests might find it uncomfortable. But it turned out fine and I really appreciate being able to shift the placement of the table to suit my needs!”
The living area, featuring the custom-made sliding dining table
Yasmine spending some quality time with her son
While her home now resembles a tropical forest filled with lush greenery, Yasmine admits she has not always been an avid plant lover. “My passion for plants began only after I received a potted plant as a housewarming gift. Since then, I’ve grown the collection of plants in my home, buying them from the nurseries located around the area.”
Some of the potted plants in Yasmine’s home
Recounting her renovation process, Yasmine emphasised the importance of close communication with the interior designers. “I discussed at length with my interior designer, Three-D Conceptwerke what I wanted for the house– bright colurs, wooden accents and storage space. Once we agreed on the overall theme and design, the team got to work!”
“The renovation process was really smooth and this really made me realise the importance of engaging interior designers whom you can communicate and work with.”
Home Tours: An Industrial Home With A Splash Of Chic
Step inside this charming eclectic space that reflects its homeowners’ personalities!
Inspired by Kenny’s preference for industrial interiors and Ruby’s love for pastels and greenery, the couple’s home is a charmingly eclectic space that reflects their personalities.
Homeowners Ruby Chong and Kenny Ren in their 5-room home
“I’ve always liked the monochromatic shades, as well as the raw aesthetics of the industrial style,” 38-year-old Kenny says. “Hence, we incorporated elements such as white-washed wooden tiles and black track lights.”
At the same time, one can’t help but notice pops of colours that extend throughout the home, including houseplants and pastel-coloured furnishings.
The living room features a raised platform that doubles up as a plant corner
“Plants help to liven up the space,” 32-year-old Ruby smiles. “When I was living overseas, the first décor item I bought for my then-apartment was plants – I really liked how they cosy up the space and wanted the same for our home.”
Designing Their Home
Despite their different aesthetic preferences, Kenny and Ruby managed to combine them to form a charming industrial-eclectic style that carries throughout the 5-room flat – a considerable feat, given how the couple had done most of the design work.
“While we do have a constant look and feel for the house, it’s obvious who had a bigger role in designing certain spots of the house,” Kenny laughs as he refers to the dining area that is finished with rattan pieces and pastel-coloured décor items.
The dining area designed by Ruby emits a mix of Scandinavian and Bohemian vibes
“We were also quite particular about the concept – so even though we engaged an interior designer, we played a bigger role in the designing process,” Ruby says. “For instance, Kenny planned the flat layout while we worked on the aesthetics together.”
The raised platform was designed by Kenny and doubles up as his lounge area
To maximise the space in their living room, the couple incorporated an extended platform that serves as the TV corner, a small balcony and a lounge area.
“Our living room layout is relatively uncommon, and I wanted to make the best of the space – especially the corners of the room,” Kenny explains. “Instead of a permanent dining area, we opted for a kitchen island on wheels that allows us more flexible use of the space.”
When hosting visitors, the couple would make more space in the common living area by relocating their mobile kitchen island
To create the illusion of a bigger space, the couple hacked away the walls of the home office and replaced them with black-framed glass panels. “Not only does the common living area feel bigger, the glass panels also allow more natural light into the home office,” the couple says.
The walls of the home office are replaced by black-framed glass panels
The homeowners’ spatial preference is also reflected in their bedroom. “We opted for the top floor unit as we wanted a higher ceiling,” Ruby says.
This is further accentuated by the couple’s house-shaped canopy bedframe, which also lends the illusion of an attic roof.
DIY Elements
From dabbling in pottery to painting portraits, Ruby shares how her passion for crafts has translated into home projects. “I’ve always wanted to be an art teacher but that didn’t happen,” she laughs. “I like to keep my hands busy, so I would embark on mini DIY projects around the house. For instance, now that I’m spending more time working from home, I decided to spruce up the home office and painted an arc on the wall. I also constructed drawer handles from leather strips, so that it’s easier for us to access them.”
The hand-painted arc in the home office (left) and drawer handles (right) reflect Ruby’s passion for crafts
It has been 5 years since they moved in; the couple decided to refresh the flat and recently renovated the bathrooms.
The master bathroom features existing subway tiles, a new tap and sink
“After choosing and buying the materials, all we had to do was to engage contractors to install the fittings for us,” Ruby shares. “We really enjoyed the process – for instance, we couldn’t decide between powder pink and sage for the bathroom vanity cabinet, so we took to Instagram polls and went with the majority.”
Kenny and Ruby eventually decided on a sage cabinet, terrazzo countertop and sink for the common bathroom
“Renovation never really ends – homeowners will always be on the lookout to improve on or beautify their home!”
Before embarking on your HDB flat renovation journey, it’s best to first think about the look of the bathroom, space utilisation and potential additions to the space.
Some new HDB flats built using the Prefabricated Prefinished Volumetric Construction (PPVC) method come with full floor finishes and built-in sanitary fittings (wash basins, shower sets), while some flats will only provide these under the Optional Component Scheme (OCS).
Familiarise Yourself With the Renovation Guidelines
Have a major makeover in mind? Do familiarise yourself with the HDB renovation guidelines to prevent potential hiccups. For instance, did you know that homeowners of new HDB flats aren’t allowed to remove the wall and floor finishes in bathroom for a period of three years? Instead of hacking away the original tiles, you can overlay them with tiles of your choice.
List Down the Essentials
The next step is to determine the kind of works you need done – whether you choose to DIY or are getting professional help. Some contractors offer bathroom packages, which may reap savings if the works are extensive.
1. Water Heater
First up, determine the type of water heater you want for a comfortable shower (and in some cases, a safe bath temperature for the little ones. There are many different appliances available on the market, ranging from instant heaters to those with a built-in tank that can be chosen to fit your budget, size of the household and shower habits. There’re also smart, energy-efficient water heaters that are remotely operated and notify you when the heated water is ready.
It’s also recommended to have your water heater installed with any major renovation works, to ensure that it fits nicely within the bathroom.
A bidet spray beside the water closet (WC) unit comes in especially handy for bathroom cleaning or when you’re looking to give doggo a shower. You may also wish to add an automated WC bidet, for a more luxe experience.
3. Shower Dividers
Depending on your bathroom layout, a shower divider can help keep some areas of the bathroom dry. You can choose from a simple rail to run a shower curtain, or a more sophisticated option such as glass screens.
Glass screens are a great way to segment your bathroom, keeping much of it “dry” and clean. Customised storage units, along with mirrors, can help hide the clutter.
While some homeowners prefer maximising the bathroom space, some prefer to not have mirrors and too much storage in bathrooms, keeping to a minimalist style. Consider having just a few simple racks to place your toiletries and hang a dry towel for your shower.
Home Tours: An Urban Sanctuary with a Vintage Twist
This cosy flat in Telok Blangah is decorated with lots of greenery!
Decorated in splashes of green, with lots of greenery around the home, Lingyi and Marvin’s cosy flat in Telok Blangah is the exact description of their Instagram handle – @ourseaofgreen. More than that, the couple’s 4-room resale flat also overlooks the verdant Telok Blangah Hill Park.
The bedroom overlooks Telok Blangah Hill, as does much of the house
“My previous home used to be in the vicinity of the MacRitchie Reservoir and as we both appreciate greenery, Marvin and I were drawn to the idea of living close to nature,” 32-year-old Lingyi explains. “We quickly fell in love with this current location. We enjoy strolling through Telok Blangah Hill Park and visiting the Gillman Barracks galleries over the weekends.”
Bringing Nature Indoors
Lingyi and Marvin’s plant collection
Being nature lovers, the couple wanted to include greenery in their home. “Our collection has grown over the past months and we’re loving how our home has become an urban sanctuary that we can relax in,” Lingyi says.
For aspiring plant-parents, the couple recommends picking plants according to the flat’s lighting condition. “As plants such as cacti and monstera don’t require much light, they’re perfect for homes with low-light. All plants will have to adjust to their new environment, so don’t be deterred if they aren’t doing too well when you first bring them home. When we brought our monstera home, it had just 3 leaves in the first two weeks. Now, it’s thriving with over 20 leaves!”
Waste Not, Want Not
As advocates of sustainable living, Lingyi and Marvin chose to retain as much as the original interiors of their resale flat as possible, including all wooden doors and the parquet flooring in the bedrooms. In the living room, the couple also opted for concrete screed, a more natural material, as opposed to vinyl flooring.
The study room, featuring wooden parquet flooring from the previous owner
Instead of buying their furniture first-hand, they also managed to source for several well-made and beautiful pre-loved furniture from Carousell, including their vintage-inspired TV console.
Rustic Vintage Vibes
When designing their home, Lingyi and Marvin regularly browsed sites such as Pinterest for vintage-inspired interiors and put their ideas on a shared board for discussion. They also presented a deck of visual references to potential interior designers.
“It’s important that they understand our needs. Portfolio aside, we were looking for an interior designer with whom we can communicate well. We’re really happy to have worked with Monocot Studios as they really brought our rustic vintage concept to life,” the couple says.
Bringing out the vintage vibes with mosaic tiles
“We’re really happy with our home,” the couple smiles. “All the hard work was definitely worth it.”
This flat in Bukit Batok is dressed in bold colours and a smorgasbord of patterns.
First-time home owners Kenneth and Xinrong talked to us about buying their BTO flat and the $48,000 housing grant they received. They let us in on their HomeStory and their gorgeous home.
Dressed in bold colours and a smorgasbord of patterns, Kenneth and Xin Rong’s HDB flat in Bukit Batok is exactly what they intended it to be – a cosy, artsy space filled with elements they love.
Home owners Kenneth and Xin Rong, with daughter Kaia Rose
Playing with Colours and Textures
“We really like the colour blue, and have incorporated it where we can,” Xin Rong smiles. “We chose a deep hue as Kenneth prefers darker spaces. I lean towards brighter tones, so that comes through in the gold accents that carry throughout our home,” she adds, gesturing to a sunburst mirror which contrasts brilliantly against the dark blue wall of the dining area.
The dining area is also where the couple displays collectibles from their trips. “These souvenirs remind us of the good times we shared and at the same time, add character to our home,” they explain.
Creating a Bright, Spacious Home
In designing their home, the couple shared that they knocked down a wall between the living and dining areas to open up the space. Additionally, since many of the family’s activities— such as eating, hosting, and working— take place at the dining table, they decided to place it in the designated living room which is more spacious.
The living room
What was meant to be the dining area was then redesigned as a cosy lounge space, where the family often spends quality time together.
“We prefer talking to each other over watching television, so we did away with the TV altogether,” Xin Rong laughs.
Although much of Kenneth and Xin Rong’s home features its deep signature blue, their flat does not feel gloomy. To maximise the amount of sunlight that filters in, the home owners chose curtains for their home, with the sheer day curtains lending a light, airy feel. Curtains also offer an unblocked view of the estate. In the kitchen, an arc was built into a wall to let even more light in.
Flexibility First
With the exception of the kitchen cabinets and master bedroom wardrobes, the home is furnished with loose items. “We like the versatility that comes with non-built-ins. This way, we can refresh the look whenever we wish!” the couple says.
Majority of the furnishings are non-built ins
Having such flexibility also means the house can evolve with their family. In the bright and lively nursery, accessories such as a leather armchair, wooden cot and soft toys decorate the room. “Without built-ins, we’re able to rearrange the furnishings so that the room can be transformed into a play area when Kaia Rose grows older,” they say with a smile.
Vinyl, tiles or cement screed? Read on to find out which best suits your home!
Did you know that buyers of BTO flats can choose to have floor finishes installed by HDB under the Optional Component Scheme. New BTO projects launched from February 2019 also come with glazed porcelain floor tiles in the kitchen and bathroom.
However, if you intend to get your own flooring done, the number of flooring options in the market may just overwhelm you. To help you in this process, we have shortlisted 3 popular flooring materials for your consideration. Before embarking on any major works at your new home though, get familiar with HDB’s guidelines on laying and replacing floor finishes here.
1. Vinyl
Made from PVC, this hardy flooring option is affordable and very adaptive. With its thin and modular construction as interlocking sheets, vinyl flooring can be applied to rooms and spaces very quickly. You can also lay it above existing tiles, as long as it complies with HDB’s guidelines!
Vinyl flooring can simulate other materials that may be usually difficult to maintain, such as natural wood
2. Cement Screed
While it may seem a little bare, this option is perfect for home owners seeking a raw, minimalist style or an industrial-themed home. Cement screed floors may even appear powdery or patchy depending on how the surface is sealed, and it is much more susceptible to cracks and scratches.
The cement screed effect can be applied to walls too.
Cement screed doesn’t come with a polished finish – but that is the beauty of it. Over time, the surface will develop a patina, filled with wear marks, stains and fractures blending in with its original imperfections. Embrace the wabi-sabi aesthetic.
3. Tiles
This is the most common flooring option, and practically essential in some areas of your home, such as in bathrooms and kitchens, due to its hardiness and resistance to stains. Most tiles are generally hardy, and damaged pieces can be replaced without having to redo the whole floor.
Large, polished tiles in light tones are popular choices for living rooms, as they make spaces look much bigger and inviting
While most homeowners get their design inspiration online via apps and sites like MyNiceHome, selecting tiles is much easier if you head down to a store or showroom, and take a look at the selections available.
At showrooms, you’ll learn that the industry has made great strides and there is myriad variety beyond the typical marble, porcelain tiles and hardwood flooring. There are products mimicking materials and textures too. Decorative tile designs such as vintage Peranakan and antique Art Nouveau, have also returned as mass-market reproductions. With a wide variety of materials and sizes, you can say this option is very versatile – a floor for every budget and need.
