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Anonymous

24 Mar 2021

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Can I get a 37 years old $400K resale flat?

Can I get at 37 year old $400k resale flat with just $25k (combined OA) with my spouse. We are 27years old and we have just started working 2+ years ago. Our monthly income is $4.8k (before deducting CPF).

The resale flat we are eyeing on is a 4 room flat in and it’s near to one of our parents.

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Bellez

24 Mar 2021

Monthly income is combined or individual? For a resale near parents, you should be able to get a lot of grants so it should be lesser than 400k. Check out your monthly contribution to OA and have you applied for HLE to see how much hdb loan you can get?

A 400k will be considered expensive but still manageable if you take a 20-25 years hdb loan.

Near one of parents is good if you plan to have kids and they can help. Please stay near the parents who can help you, not the one who cannot/don’t want to help.

I stay near my in laws who are totally not helpful and greatly regretted my choice. Waiting for MOP to be up before we move nearer to my parents instead. My parents have been a great help.

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Ideally I want to stay in those one room BTO(retirement village) when old. Which flat to get? A 30-year-old flat near MRT vs a 5-year-old flat that's few bus stops away from MRT?

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