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Should I BTO this Nov 2018?

Surely, many of you are thinking, should you grab the first pot of gold that the govt. is giving to us as Singaporeans. That is pretty much depending on your financial ability and, is the returns from the 99 years property worth it to lock yourself down for 8 - 9 years? (3 - 4 years building time, 5 years MOP) owning a 3 - 5 room flat probably 50 - 70% the size of the older flats.

Facts and Figures
Source from HDB

So does it make sense to buy a 3 - 5 room BTO, getting grants and then pay it back via resale levy in cash subsequently when you to upgrade to an EC? Where you are being locked down for 8 - 9 years to make a pinch of profit after renovation costs ($30,000 - $40,000), resale levy ($30,000 - $50,000), and accrued interests. 

If you are unsure of whether you are financially ready for an EC/Condo, where I was shocked when doing market research only to find out more than 30% of the couples (25 - 30) are actually financially ready to get their own EC. In the 30%, most of them have been saving since the age of 16 when they started working part-time. By compounding, the average sum accumulated in the OA is about $30,000 - $40,000.

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Comments

  1. AnonymousMay 15, 2019 at 7:29 PM


    Hey Nice Blog!!! Thank you for sharing information. Wonderful blog & good post.Its really helpful for me, waiting for a more new post. Keep Blogging!

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