facebookFor a couple earning approximately 12k per month (combined), what should be the best housing option? - Seedly

GuanYuan Tan

24 Dec 2019

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SeedlyAMA

For a couple earning approximately 12k per month (combined), what should be the best housing option?

What are the options available to us at the moment?

Discussion (11)

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12K is not a lot these days, a BTO makes more financial sense, if not you won't be able to keep aside enough to retire

John Smiths

03 Dec 2019

Tax at Local bank in Singapore

Build To Order flat if you can wait to move out in a few years. Sale of Balance or Resale flat if you cannot wait to move out. New Executice Condo if you like to have condo facilities and can wait for a few years.

But stay away from resale Executive Condo and new or resale Private Condo because the prices are too high relative to your combined monthly income.

Hi GuanYuan,

Go with one that you're comfortable with - if you're ok with a HDB (BTO/Resale) then I would suggest you go for it and potentially repay your mortgage loan using cash. Remember to seize the various grants from government that you're eligible for, the money goes into your cpf so it's free from them.

That's what I'm currently doing and have been doing as my aspiration is to build my core around retirement savings through CPF. Of course, if you would like a more luxury style of living, then housing options like a private condo is feasible as well, given your combined income. ​​​

If you can afford to wait, first property should be a bto due to the subsidised rates and grants ava...

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