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Hi Gurus, My fiancee and I are considering whether we should get a EC or a resale/bto unit. Our combined income is 9.5k and both are first-timers. My preference is to go for broke and leave no $ in our CPF, instead putting all money into the EC as an "investment". Her view is that we should get a bto/resale so that in case of future rainy days, we've not caught out. Any advice from the gurus here regarding our views? Thanks in advance.
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1 Answer

Mike Lim
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Afternoon,

For purchase of BTO, New EC and resales, CPF will definitely be wiped out.
Only for purchase of resale EC, then can you choose how much to utilise, if you have enough to pay for the deposit.
In my view, it's always good to purchase a unit, within buyer's comfort zone. Not too much cash should be used, for monthly installment. Saving for rainy days would also be good as I do have clients who went jobless for 8 months. But due to the additional CPF that they have, they managed to weather it through. Never stretch to your max as you never know when it will snap.

FYI
Mike Lim
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