Would you get a resale over a private condo as a first home? What are some factors that you will look at in order to decide on your first home?

I happen to be someone who has been failing to obtain a queue number (most of the time no queue number) for all my past bto and sbf attempts with my fiancé. We are considering resale at a mature estate to live near family members for both sides, however the resale prices are crazy expensive. what would you do if you were us? What are the factors you would consider in getting your first home if you were in our situation?

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Davin

09 Mar 2020

It depends on your affordability. As we do not know about your affordability, that’s quite difficult to answer. Me and my wife go for private as we want to buy 2nd property for investment, hence only private can provide us this option. If go for hdb resale, basically you will need to pay 12% ABSD for 2nd property. So it depends on you affordability and long term plan.

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Pascal S

03 Mar 2020

MBA Graduate at Singapore Management University

Hi Anon,

I wouldn't and I think it is not rational to buy resale as well as a private condo.

You should rent your home for the rest of your life in Singapore, and use your savings to buy an island in Indonesia (or somewhere else).

Why? The island is equally at risk to tsunami as is Singapore, so that does not matter. But it is damn cheap compare to the exhorbitant property prices in Singapore.

Joke aside, do what is fair for your future wife. Happy wife, Happy life.

Cheers,

Pascal

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