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/mo...n-5462614.html