BTO or Resale if want top floor, near parents.

[NealKoh]

Hi all!
We are a couple in our entry level jobs with plans to settle down when financially stable after 5 years of investment.

The main question is that given that I want to
1) Stay top floor, corner unit
2) Near parents
3) Away from any religious sites

I concluded that it's best to just get a resale, 4 room flat 5 years down the road in Ang Mo Kio.
But it seems crazy to spend 800k over 25 years.

Am I correct to say that or there are still things that I don't know?

Reason for 4 room is because its HDB and I'll be able to enjoy subsidies when I retire early in the future.

Or should I be looking at BTO?

 

[iphone1s]

I think you are disillusioned.

Go for 1 BTO ballot and you know all that you wanted ... are... fluff..

 

[Sakagamii]

well to be fair, he did say that he is looking at resale due to all those conditions he want. sadly resale in amk is gonna kill u financially unless u or ur parents are rich.

u could go for cheaper bto at the start and look at amk resale after working for awhile until u get better pay

 

[lampano]

Simple.
Just know what is yr budget and work towards it.
You get what yr budget allows.

 

[windwaver]

The main question is that given that I want to
1) Stay top floor, corner unit
2) Near parents
3) Away from any religious sites

I concluded that it's best to just get a resale, 4 room flat 5 years down the road in Ang Mo Kio.
But it seems crazy to spend 800k over 25 years.


Or should I be looking at BTO?

It's rather difficult for all the above to align in a BTO unless you are the top 10%. Add to that, BTO in Ang Mo Kio (AMK) is rare and highly sought after. A 4rm resale in AMK is not going to be cheap either.

I suggest you work out the budget and stick to that. You might have to settle for areas further away. It's not very useful even if you see your MP because it's always the same pitch about how small SG is and the good transportation network.

 

[TheAlphaLion]

Hi all!
We are a couple in our entry level jobs with plans to settle down when financially stable after 5 years of investment.

The main question is that given that I want to
1) Stay top floor, corner unit
2) Near parents
3) Away from any religious sites

I concluded that it's best to just get a resale, 4 room flat 5 years down the road in Ang Mo Kio.
But it seems crazy to spend 800k over 25 years.

Am I correct to say that or there are still things that I don't know?

Reason for 4 room is because its HDB and I'll be able to enjoy subsidies when I retire early in the future.

Or should I be looking at BTO?

You have to see which of the 3 is your highest priority and start from there. Check near your parents place, is there even empty land? If not, don't even need to think about BTO. Nowadays AMK BTO (if any!) are very far away from the MRT.

Even if there is BTO launch in AMK, you will probably have 10% chance of even GETTING A QUEUE NUMBER. And for that queue number to allow you to choose top floor, 0.1% chance. Almost can buy 4D already.

My suggestion, don't waste time waiting for AMK BTO, then get disappointed when you can't get a good queue number. Just buy resale near your parents. Get the $100k+ grants for resale.

 

[0limshs]

Do think twice, top floor does have a lot of problem like water seepage on the ceiling etc... in my opinion....
If I remember correctly top floor pricing is always cheaper than the second last floor, if I remember correctly...

 

[NealKoh]

You have to see which of the 3 is your highest priority and start from there. Check near your parents place, is there even empty land? If not, don't even need to think about BTO. Nowadays AMK BTO (if any!) are very far away from the MRT.

Even if there is BTO launch in AMK, you will probably have 10% chance of even GETTING A QUEUE NUMBER. And for that queue number to allow you to choose top floor, 0.1% chance. Almost can buy 4D already.

My suggestion, don't waste time waiting for AMK BTO, then get disappointed when you can't get a good queue number. Just buy resale near your parents. Get the $100k+ grants for resale.

Thank you for all your kind suggestions!

That's what I was thinking as well, don't care about all the BTO and just buy resale.
Because I was considering in the future, I should be able to afford condo, but instead of going private, just stay modest and buy a 4 room 800k ish house and renovate it until it's as good as a condo. So that I can still enjoy various subsidies.

The primary reason for being near parents, walking distance, is because of children.
I don't want to deal with maids, nor kids all the time.
My parents love kids so it's perfect, just drop them off there and let my parents have fun with it.
Financially, it doesn't seem sound to drop 800k but in the long run, I would be more mentally sound since I don't need to deal with kids 24/7.
1) Save on maids
2) Avoid mental stress from kids since I can tell let the kid go on its own when its 5-6 years old.
3) I can still see my parents and have dinner with them.

All of these will remove the necessity of getting a car and being a family chauffeur.


Then comes top floor, I currently stay on the top floor, no issues and enjoy the minimal disturbance. I don't have to care about other people's laundry, how they stomp their floors, etc. etc.

I'm not looking to buy immediately.
I'm looking to settle down after 5 years when we will hopefully be financially stable through two areas.
1) Higher Salary
2) Sound investment

I just wanted to check whether I'm missing anything out from my considerations.

Cheers!

 

[TheAlphaLion]

Sounds good, you save 100k by not buying car and save 1k/mth without maid. just make sure your parents are agreeable to the amount of work to take care of your kids and cooking dinner next time

Also, make sure you calculate your projected salary and savings for 5 years' time, whether you can get sufficient loan (loan for HDB flats has MSR = 30% of income for loan only, unlike TDSR for private property which is 60%).

Also take note some HDB resale grants don't care income (family grant, proximity grant), while additional housing grant depends on income (doesn't sound like you will be eligible for that since you are ready to buy 800k flat).

Of course, in 5 years time many of these rules might change.

Good luck!

 

[PostCountWarrior[+1]]

Thank you for all your kind suggestions!

That's what I was thinking as well, don't care about all the BTO and just buy resale.
Because I was considering in the future, I should be able to afford condo, but instead of going private, just stay modest and buy a 4 room 800k ish house and renovate it until it's as good as a condo. So that I can still enjoy various subsidies.

The primary reason for being near parents, walking distance, is because of children.
I don't want to deal with maids, nor kids all the time.
My parents love kids so it's perfect, just drop them off there and let my parents have fun with it.
Financially, it doesn't seem sound to drop 800k but in the long run, I would be more mentally sound since I don't need to deal with kids 24/7.
1) Save on maids
2) Avoid mental stress from kids since I can tell let the kid go on its own when its 5-6 years old.
3) I can still see my parents and have dinner with them.

All of these will remove the necessity of getting a car and being a family chauffeur.


Then comes top floor, I currently stay on the top floor, no issues and enjoy the minimal disturbance. I don't have to care about other people's laundry, how they stomp their floors, etc. etc.

I'm not looking to buy immediately.
I'm looking to settle down after 5 years when we will hopefully be financially stable through two areas.
1) Higher Salary
2) Sound investment

I just wanted to check whether I'm missing anything out from my considerations.

Cheers!

honestly if parents wanna look after. u stay in malaysia, they also come and stay over with you on weekdays. i wont worry too much abt the location if i am u. i do worry abt u buying an old resale flat at an inflated price.

 

[jerichoo]

Hi all!
We are a couple in our entry level jobs with plans to settle down when financially stable after 5 years of investment.

The main question is that given that I want to
1) Stay top floor, corner unit
2) Near parents
3) Away from any religious sites

I concluded that it's best to just get a resale, 4 room flat 5 years down the road in Ang Mo Kio.
But it seems crazy to spend 800k over 25 years.

Am I correct to say that or there are still things that I don't know?

Reason for 4 room is because its HDB and I'll be able to enjoy subsidies when I retire early in the future.

Or should I be looking at BTO?

no offence.

how old are u guys?

 

[windwaver]

Do think twice, top floor does have a lot of problem like water seepage on the ceiling etc... in my opinion....
If I remember correctly top floor pricing is always cheaper than the second last floor, if I remember correctly...

Usually same price.