Hi,
1) I just did a preliminary TDSR on your situation. Your possible loan should be around $370k.
2) With your CPF and cash on hand. I would think buying a condo is a bit far stretch.
3) Yes, with your budget you could get a 2 bedroom at Sol Acres or 1 bedroom at Parc Rosewood. But worry that maintenance and traveling would be a concern.
4) The best of course is to apply a BTO, the only concern is the time to get a successful application and the time to build ready to stay. We are looking at 2~3yrs to a successful application and 4~5yrs to build.
5) Minimum time waste would be at least 2+4=6 yrs, or as long as 3+5=8 yrs. Plus another 5 yrs before you can sell it for profit would be 40+yrs old by then.
6) In order not to lose out on the rise of property, it would be best to consider buying a resale HDB flat so as to ride on the upsurge of the property price.
7) After 5 yrs when your income increase and can afford a private plus the sale proceeds from your flat, it would then be timing for you to consider a private property.
8) You can still be ready for retirement by the time you complete your 25 yrs loan tenure.
9) By then you can sell it off and move back to the HDB if just wanted to cash out from the private property. You will have hefty cash for your retirement by then.
Hope the above answer 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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