Anonymous
Would you buy a HDB flat that is 40+ years old, with about 55 years left in the lease when one spouse is <30 years old?
Assuming the flat was in a good location, less than 10 minutes walk to the MRT, in an area earmarked by the government for further development in the next 5-10 years, the couple can afford to make up in cash/ CPF for the reduced HDB loan.
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You will likely need to move to avoid the outliving problem.
See it as a short term rental rather that a purchase of a home.
Good question to ask is, if this is a permanent home, would you be willing to let your spouse be dependent on others when she is in her 80s? Or would you prefer to guarantee her home for as long as she lives while you are still able too?
My suggestion, if you decide on this, avoid putting too much money into renovation, look for a longer leasehold place and ensure that you consider moving within 5-10 years.
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