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

Asked on 25 Oct 2020

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?

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Mohd Fahan Fahan

Mohd Fahan Fahan

Level 2. Rookie

Answered on 03 Nov 2020

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

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Thank You!
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Jeff Yeo

Jeff Yeo

Level 7. Grand Master

Answered on 28 Oct 2020

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.

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Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about

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

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