Real estate
Two Tiong Bahru HDB blocks to get HIP upgrade after re-poll
Two HDB blocks in Tiong Bahru will get the Home Improvement Programme after residents were polled again and the upgrade went ahead. HIP refreshes older blocks. Typical works include repairs such as spalling concrete, plus some optional items inside the flat.
Some of the work is covered. Optional items are paid for by the owner. Works also mean noise, workmen, and a period when the block is a less comfortable place to live or to view.
An upgrade can help an older block. It does not add years back onto the lease, and it does not turn an old flat into a new one.
3 Takeaways for Buyers & Sellers
- Which HIP works do HDB owners pay for? If you own one of these flats, separate the standard works from the optional ones before you say yes. Optional items come out of your own pocket.
- What should buyers of older HDB flats ask? Buyers of older HDB flats should ask whether HIP has been done, is coming, or was voted down. It changes both the condition you are taking on and the disruption during the works.
- Does an upgrade justify a new-flat price? Do not pay a new-flat price because an upgrade is coming. Look at the remaining lease, the floor, and recent sales in the same blocks.