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Dear sir/madam,

The ideal option will highly depends on your objective, low risk approach in my opinion will be to go for SBF where waiting time to obtain the key and move in is significantly lower than a BTO, which means your exit strategy can be planned earlier depending on your options 5 years down the road, which was an option I had taken back then when this was still under "Walk In Selection" scheme. Lower entry price for a HDB will translate to lower risk but that said, the profit can also be lower when you sell, depending on the location and its demand.

I subsequently moved on to a resale HDB (relatively old one) as I wanted to move closer to my boys' school, where I am able to save alot of time in commuting to and fro the school due to the difference in school dismissal hours for my 4 children. This is an option that is most appealing to me basing on my nature of work, where it will affect my ability to attend to appointments if I were to be ferrying the children from school dismissal at different time.

New launch is definitely 1 of the most attractive option in current market where many agency leaders and analyst are projecting growth, especially with the confidence shown by developers in the recent land bids for both private land parcel and EC land parcel. Given that you are starting your family, the smaller apartment size for the new launches is unlikely going to be a huge concern if you are able to keep to minimalistic lifestyle but the facilities will be welcoming factors to enjoy your lifestyle before the first child comes along.

If I were to be in your shoes and finances is not an issue, I will likely go for a resale EC (newly MOP project) where size is definitely going to be slightly better than a private project, while entry price is still relatively manageable despite the fact we know that the resale sellers will likely have made a round of profit over me, but it is likely to still have room for further appreciation.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi

Whether which is a better option will be determined by your objective and budget.

You may text 9620 0827  for a casual chat.

Warmest regards

Gavin Read More

Hi,

As a young couple without financial support from parents. You will need to use the time to exchange for money.

SBF:
1) Assumed you had started work for 3 years earning an average of $3.5k/mth, your CPF monthly contribution to your CPF OA is around $700 using 20% as a guide.
2) Using 3 yrs as a guide, combining both your CPF contribution should be around $53k. This shall give you a sufficient amount for your 10% down payment.
3) Of course, it also depends on the type of you are comfortable with for you to start your home. If you are comfortable with a 4-rm flat which is the most popular type people are choosing now, you should be able to get it below $400k.
4) The above is assuming you plan for SBF. You may also shorten your saving timing by having a lower target.

Resale HDB (5-rm):
1) According to the current market, 5-rm flat ranges from $500k and more for flats around 20~30 yrs old.
2) You should not have any problem getting enough down payment once you already started working for 3 yrs.
3) It can be shorter if you are applying for a housing grant; SC/SC: $50k, SC/SPR: $40k.
4) The disadvantage of this is you are getting an older flat to start, and have to save up for a resale levy of $45k when you get your BTO 10 yrs later after buying this.

New launch EC:
1) With the current $1,0xx psf for a 3 bedrooms EC, estimated to be starting around $945k, will be more for a higher floor and better facing.
2) Loan is going to be an issue. If only earning around $3.5k/mth for each, your household possible loan is only $470k. Your down payment will be a huge sum.
3) Housing grant of $30k for SC/SC is a mere droplet compared to the high down payment needed.
4) This is more for couples who are earning $6k/mth each to be realistic as the household loan can reach up to $720k.
5) The difficult portion would be the 25% down paymeent; 5% cash which is $47,250, 20% CPF and/or cash = $189k.

Resale EC:
1) Resale EC although seems easier compare to the new launch EC, the only difference is on the loan because of using TDSR to assess the loan amount.
2) But the down payment is still the biggest hurdle to clear because you are not paying a lower price for a 3 bedroom unit.
3) The advantage is you will get a bigger unit at around the same price, meaning you have to prepare more cash for renovation.
4) The other obvious advantage is you see the actual unit and you can get it in 3 months' time.

The conclusion would be whether you can afford to use the time to exchange for money or using money to exchange for time.
The final advice would be if you intend to upgrade the SBF or new launch EC would give you added funds in your next purchase because of higher gain in terms of appreciation compared to the resale.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi,

A relatively new Sale of Balance flat that is ready for key collection makes a good choice, but it does not mean that you want it, you get it. Usually such flats are very heavily over-subscribed.

A brand new EC has a long waiting time too, similar to that of a BTO flat. Not sure if you are willing to wait so long.

You may also consider a resale flat too, as you can qualify for the various Grants, CPF Housing Grant, EHG, PHG etc.

If budget allows, you may also consider new launch condos that belongs to the "old price tag". You will likely stand to gain when the new launches next year and beyond starts to sell at the "new price tag".

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More