HDB flats are homes to up to 82% of Singaporeans. The public housing scheme that our Government has developed provides affordable housing for all Singaporeans at a highly subsidised price. With such a large percentage of Singaporeans residing HDB flats, knowing how to buy, sell and rent your HDB flat is of paramount importance.
Given that majority of Singaporeans stay in HDB flats, one would expect that these Singaporeans would be knowledgeable on how to transact their homes. Conversely, only a handful is well aware of the entire process of transacting their HDB flats, while the rest would engage a real estate agent to complete the whole process for them.
To engage an agent, one will have to pay 2% of the selling price of the property to the agent. For a $500,000 HDB flat, the agent fees would amount to $10,000. That is already higher than the average income of Singaporeans!
What an agent does is basically to ‘match make’ a buyer and a seller and aid them in the whole transaction process. This process of transacting is tedious and would take at least 4 months to complete.
In the advent of today’s technology, our current generation no longer depend on schools to obtain knowledge. Information is so readily available on the Internet and you can learn almost everything.
The Ohmyhome app, a platform where HDB flats sellers and landlords can contact and transact with buyers and tenants, without the need of an agent. Sounds too good to be true? Think again. Anyone can use the Ohmyhome app, to purchase a HDB flat or to list one. One of the best benefits is that it is absolutely free to list and browse properties! One will only incur a small fee if the transaction is successful. If an agent is still required by a seller, he or she can pay a fee of $2888 for agent services provided by Ohmyhome.
This is a blessing to all Singaporeans who are often victims of unethical real estate agents who would do anything to ensure that the deal is successful. With Ohmyhome, HDB owners can educate themselves with HDB policies, grants and eligibility to buy or sell.