My boyfriend and I are thinking if BTO or Resale works best? - Seedly
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Anonymous

Asked 4w ago

My boyfriend and I are thinking if BTO or Resale works best?

We are currently in our early 20s and we plan to settle down in 4-5 years. The initial plan was to get an upcoming BTO and by the time it is ready we will move in. However, given that BTOs are expensive and small, we were thinking of getting a resale. So in the span of that 4-5 years, the money saved will go towards a resale, which is about the same price as a BTO but bigger. Any suggestions or advice?

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    Hi there!

    I also encounter this issue and I do agree that BTO are way smaller compared to resale. For myself, what I plan is to get a small maybe 3 room resale (for short term maybe 5 to 8 years) as the financial load will not be that heavy since at the age of 20s we just started our career. After which, then wait for a bto that fit into our ideal location and budget for long term.

    I think some factors which you may consider:

    • number of years left for resales (if I am not wrong, the value of resale will drop significantly if lesser than 40 years)

    • Location wise is it ideal for both your work place and also in the future if you all are having kids, perhaps staying near parents might be a good idea as someone can take care of the kid

    • Financial load (do some basic calculation on how much loan to take, compare the interest and choose one that is more optimal for your situation)

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    Question Poster

    3w ago

    I thought of selling after MOP also but the older gen (like my parents age) advised saying that we won't earn selling, maybe just breakeven only. Not sure how true that is. I might consider and combine both advice. Get a small 3/4room resale first. Hmmmm
    Benson

    Benson

    3w ago

    You can check on HDB website for newly MOP transaction price. Compare it with the initial launch price. Is a sure profit, Unless your flat is those very low floor or bad unit layout. Because 5yrs of cpf fund used need to refund back to CPF is not a lot yet. A lot people sell after MOP and upgrade to condo.. personally i want retirement early, dont wanna drag with mortgage debt.
    Thank You!
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