facebookMy girlfriend's parents are offering to pay the downpayment of a private condo for us to have a place to stay immediately as compared to BTO. Will this affect our chances of BTO in the future? - Seedly

Anonymous

18 Apr 2019

Property

My girlfriend's parents are offering to pay the downpayment of a private condo for us to have a place to stay immediately as compared to BTO. Will this affect our chances of BTO in the future?

I feel strongly that we should not give up on getting a BTO because of its affordable prices and potential gains. What do you think?

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if the private condo is in a good location with 999-year lease/ freehold, private condo will definitely beat BTO in terms of capital gain. There is no limit to how expensive private condos can go but government will always curb government housing prices.

If the intention is to get a private condo, do it after getting the bto and not before. Unfortunately this will entail a waiting time of a few years as the bto needs to be built. And I believe you can't own a condo under your own name during the 5 year MOP period. One other way is to consider an EC. Still a waiting time for it to be built, but it'll upgrade to private condo status in 10 years

Loh Tat Tian

14 Nov 2018

Founder at PolicyWoke (We Buy Insurance Policies)

Experts have already answered this question.

https://www.propertyguru.com.sg/question/277087......

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