Anonymous

26 Oct 2020

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What would be the wise choice to upgrade to our next flat? I am currently staying in a 4 room BTO, MOP fulfilled. Any advice?

Our total household monthly income now is around $8000. We’re planning to get another 5 rm BTO versus getting a resale (5rm) that is 20-30yo. Is it a wise decision? We are not too keen to upgrade to an EC as it is more expensive(usually 1mil abv for 3bdr) and smaller in size than our current home. Any experts or anyone who have similar thoughts or experience could share your views? Much appreciated. (:

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Caleb Seah Hua Xiang

26 Oct 2020

It depends at the end of the day on your needs and why you want to move.

Moving into a 5 room BTO & EC is an option but you'll need to wait 3-4 years for it to be build and pay a $40,000 COV in cash.

Moving to a resale flat, allows you to do so immediately. But the appreciation level will not be what you may get in your current BTO.

So at the end, both have it's pro's and con's.

If the intention is about bigger size, go ahead and upgrade to a 5 room or EA or even a private.

But if the intention is about capital appreciation, you might need to consider, EC or Pte too... Though Pte would make much more sense(cents) as you might not need to consider the 40k levy. But will have a higher monthly installment due to a higher loan quantum

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