facebookAs a single person with limited earnings/savings, should I BTO a 2-room flat by 35 and upgrade to a resale after the MOP, or save up and buy a resale when I'm even older? - Seedly

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Anonymous

03 Nov 2020

Property

As a single person with limited earnings/savings, should I BTO a 2-room flat by 35 and upgrade to a resale after the MOP, or save up and buy a resale when I'm even older?

I'm a 30 year-old single person and can't marry in Singapore. I would like to own my own home eventually. Does it make financial sense to BTO a 2-room flat and upgrade after the MOP for a larger resale flat; or better to tough it out and buy a resale straightaway when I'm older? Not considering to rent until I buy my flat. Thoughts?

Discussion (5)

What are your thoughts?

I want to check I want to check how to apply about BTO 2single house this is my first time

Jeff Yeo

Jeff Yeo

28 Oct 2020

Level 10· amateur Social contributor at School of social sharing

I would say get the BTO and focus on saving up and investing for retirement.

Top up your CPF and pay with cash for the BTO if possible.

This would be the more secure path. you can always plan for an upgrade later when you earn more or maybe have a change in your status.

Silvester Leo

Silvester Leo

26 Oct 2020

Level 4·Risk and Wealth Management at Self-Employed

As a Singaporean, we should make use of our privileges. As long as you're able to stay in Singapore ...

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