So sad, history always repeat itself.

[Arcachon]

BTO or Resale dilemma

Hi there, hope to hear some constructive feedback on my situation here.

I am in a dilemma to get a BTO or resale flat.

Currently i have got a queue number for the recent Bidadari Bto however i have to wait for 4 years to get the flat.

My spouse do not have a house here and my parents place do not have enough space for us to live in therefore we have to rent a room. We are around 30 yr old and plan to have kids.

By waiting for 4 years (3 years 3rm flat rental planning for kids) my rental will probably work out to be $65,000.

The Bidadari BTO 4rm will probably cost me about $490,000.

A resale flat in Hougang/Sengkang 4rm perhaps $350,000.

Now the question is it financially prudent to give up my BTO and get a resale flat instead.

With our current CPF we could clear the housing loan for a $350k resale flat in the next 6 years if i take into consideration that i top up cash that would be used for rental ($65k).

If i take up the Bidadari BTO, i will incur a $65k rental plus future loan required to pay off after offsetting my CPF 4 years later, which works out to be around $220k

And yes the Bidadari BTO is an attractive location. However when i look at it financially it might not be that attractive at all.

http://forums.hardwarezone.com.sg/money-mind-210/private-condo-use-cash-bank-loan-5462614.html

[Psalms]

BTO or Resale dilemma

Hi there, hope to hear some constructive feedback on my situation here.

I am in a dilemma to get a BTO or resale flat.

Currently i have got a queue number for the recent Bidadari Bto however i have to wait for 4 years to get the flat.

My spouse do not have a house here and my parents place do not have enough space for us to live in therefore we have to rent a room. We are around 30 yr old and plan to have kids.

By waiting for 4 years (3 years 3rm flat rental planning for kids) my rental will probably work out to be $65,000.

The Bidadari BTO 4rm will probably cost me about $490,000.

A resale flat in Hougang/Sengkang 4rm perhaps $350,000.

Now the question is it financially prudent to give up my BTO and get a resale flat instead.

With our current CPF we could clear the housing loan for a $350k resale flat in the next 6 years if i take into consideration that i top up cash that would be used for rental ($65k).

If i take up the Bidadari BTO, i will incur a $65k rental plus future loan required to pay off after offsetting my CPF 4 years later, which works out to be around $220k

And yes the Bidadari BTO is an attractive location. However when i look at it financially it might not be that attractive at all.

http://forums.hardwarezone.com.sg/money-mind-210/private-condo-use-cash-bank-loan-5462614.html

Go with what's within your budget and is least subject to many unknowns along the wait.

Attractive location housing are always available, as long as one can wait and have the financial muscles to go in at the drop of a pin.

Thats my personal view. Actually you have answered your own question in the last paragraph of your post. Moolah matters in such big ticket items.

Hope you enjoy the process of getting your own dream home regardless BTO and resale.

Cheers

[Arcachon]

Not me, I bought my first HDB with minimum CPF and cash.

4 room HDB 105sqm for 83,000. collect key in 1988.