My FH and I have a combine income of 7.8k. We can't decide on a location for our resale flat. Our parents each stay at the east and the west of Singapore. What is your take on the following? - Seedly
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Anonymous

Asked on 19 Oct 2018

My FH and I have a combine income of 7.8k. We can't decide on a location for our resale flat. Our parents each stay at the east and the west of Singapore. What is your take on the following?

Assuming all are HDBs < 10 years old

1) Queenstown/ CW/ Holland 650-750k: higher price, no proximity grant but much closer to our workplace and everything else.

2) Lakeside 400k: cheaper, proximity grant, upcoming jurong lake developments but further away from our workplaces and less convenience.

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Junus Eu
Junus Eu
Level 9. God of Wisdom
Answered on 05 Jun 2019

I would go for 1) despite higher price given that it is closer to your workplace, and also better to visit parents on both sides. If you are all the way at Lakeside, it could be possible that over time you would visit the parents in the west more often than the east, which is not ideal.

Additionally, consider the potential value of the property, if you decide to sell later on.

Another point that you might want to consider is the primary school of your kids in the future. I have seen colleagues with kids actually move such that their kids can get into certain schools, but that is if it matters to you!

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ūüĎć
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Teo See Hwa
Teo See Hwa, MArketing Associate at Propnex
Level 5. Genius
Answered on 21 Oct 2018

Most don't understand about compond interest when they buy resale and negative sale.

Talk to someone who know about asset progession before buying resale HDB.

Wrong purchase will cost 12% and 15% later and lot of inconvient.

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ūüĎć
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Png Cheng Xi Damien
Png Cheng Xi Damien, Happy Life Seeker at Home
Level 6. Master
Updated on 07 Jun 2019

Apart from the proximity grant, how impt is it to live near either parents? I think your own comfort is the most impt. Choose a location you like and find a good price for it.

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ūüĎć
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Question Poster

20 Oct 2018

we both like staying in the central region but just unsure if it is worth the extra 200k cost + not having the option of our parents care for our children in the future. a
Png Cheng Xi Damien
Png Cheng Xi Damien

21 Oct 2018

If having a child and allowing either parents to care for them is a strong factor, go for the proximity ones. You need to list out your factors and rank them linearly. From there, you should be able to make a better decision.
Thank You!
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