Lease Buyback Scheme - Is LBS Suitable For You?
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6 ай бұрынLease Buyback Scheme - Is LBS Suitable For You?
Lease Buyback Scheme or LBS for short. Is an initiative by HDB to monetize your flat to receive a stream of income for your retirement years, while continuing to live in it. I will discuss what is LBS, the pros and the cons, and use one example to illustrate my point.
In addition, I will share my personal opinion on this scheme.
Alan Wee
CEA Reg No. R024730A
wa.me/+6592973150
www.AlanWeeProperty.com (Resale)
www.AlanWee.com (New Homes)
/ @alanweeproperty
FB: AlanWeeProperty
I am a licensed housing agent with ERA Realty Network Pte Ltd.
References:
www.hdb.gov.sg/residential/li...
www.cpf.gov.sg/member/infohub...
www.hdb.gov.sg
@yvvonelee5026 4 ай бұрын
I have to agree 100%. 3 rooms flat would be in a better position to LBS than 4 or 5 rooms. However, if a senior is near to an expiry date. What is the point of having a windfall 10 years later when my maid is pushing me in a wheelchair. Whilst, if I get 50K, I can checked off my bucket list. And if I kicked the bucket, It nice to leave some balance for your children, but then I've already done my part by providing him an education. Why give him fish, when he can fish by himself.
@alanweeproperty 4 ай бұрын
At least now there are a few options. Compare to years back.
@ngym20s 6 ай бұрын
Bro u r the man...didnt know so fast u can do this video
@ngym20s 6 ай бұрын
Bro, my parents lived in 40 year 3rm hdb which i feel will continue to depreciate in coming years. Thats why i am thinking they should do LBS
@alanweeproperty 6 ай бұрын
This mean u left with nothing...lol
@alanweeproperty 6 ай бұрын
Ya...I also don't know I can do so fast ..maybe I am curious on this topic. I got relatives that did LBS too ..
@user-rt8rd9li2o 6 ай бұрын
Chatted with a senior widow few days back. Her 3rm flat was under LBS. Husband passed away last yr and she is staying alone in the flat now. She wanted to lease out the rooms for extra income but was not allowed as the flat is no longer under her name. She also tried to apply to rent 1rm flat fm HDB as current flat is too big but was rejected too.
@alanweeproperty 6 ай бұрын
Wow. Sian. That is why I wrote in to hdb asking if LBS owners are allow to rent out bedrooms. I am pending their reply. Will share here when they did.
@ngym20s 6 ай бұрын
@@alanweepropertycan rent out room but not whole unit
@alanweeproperty 6 ай бұрын
thanks for sharing@@ngym20s
@jamespoon1796 6 ай бұрын
Heart warming philosophy.
@alanweeproperty 6 ай бұрын
thank u.
@beny.5736 6 ай бұрын
Unless you really kiam eng lui but still need all of the space in your flat, better avoid this 😂
@alanweeproperty 6 ай бұрын
True..
@david888a 6 ай бұрын
Yup, visit your aging parents people n bring along the grandchildren too. Instead of LBS , why not sell n move in to an old age home or with one of the children. ?
@alanweeproperty 6 ай бұрын
I thinking aging in place is still the best. Old age home is not cheap. Also depend on children income. I rather have my freedom during my twilight years then in a "home".
@HawkishMerlion1965 6 ай бұрын
Best retirement is in good health, so invest young by exercising more and relax more.😂 .
@alanweeproperty 6 ай бұрын
U nail it my friend! Plus don't need to worry about $$$ and still have passive income...
@user-rt8rd9li2o 6 ай бұрын
What happens if the owners passed on before the LBS expires? Any refund of unuse lease? And also, will HDB put the unit for sale under SBF?
@user-rt8rd9li2o 6 ай бұрын
You are not allowed to rent/lease out rooms for extra income under LBS as you are no longer the owner. Is this true?
@alanweeproperty 6 ай бұрын
Once hdb reply. I update here.
@alanweeproperty 6 ай бұрын
I think hdb website got say something if they pass on..you can check the LBS links in my video.
@bernardkoh1650 4 ай бұрын
How they value the tail end 30yrs?
@alanweeproperty 4 ай бұрын
There is a formula. Have to ask hdb. I also don't know.
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