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Anonymous

12 Aug 2022

Property

Should fresh graduates apply for BTO, despite being in student debt?

We are not sure if we should jump into applying for the BTO now as we are both still repaying our student loans, and have just started working as well.

Discussion (7)

What are your thoughts?

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You should apply for the BTO because it is a future that fits your needs and circumstances, not because of FOMO and FIRE.

Everyone is telling you to apply first, but I think you can also consider what are the consequences if you apply now and if things don't go as planned and you need to withdraw the application.

If you apply now when your income and CPF is still low, your budget is limited and won't be able to get a bigger house as compared to few years down when you are more stable and can get a bigger loan.

All the best in your decision!

If your the other half is the confirmed one and only one, just proceed to apply for the BTO flat. Both of you should have cleared your student's loan by the time the key is ready for collection.

Please do apply as soon as you can. Your future you will definitely be grateful!

you don't have to worry about income because as you age, your income will multiply faster than you imagined. :)

The good thing about CPF is that it doesn't conflict with student debt at all - I took 2 years to clear my student loans but by then I also had quite a bit in CPF. So if you guys are sure about each other, definitely no problems getting a BTO.

One thing to consider is your income potential vs. BTO price, for example you might make your choice (location/size) taking into account current earnings, however there's a chance your income would have increased 50% or more in 5 years' time and by then you would prefer somewhere more convenient / more space / neighbours with similar lifestyle habits etc. Just sharing this as a point to note and it definitely depends on your profession as well.

The earlier you can apply, definitely the better (as long as you are ready to commit into the relati...

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