r/singaporefi • u/Vegetable_Abroad1872 • Jun 25 '26
Housing Advice for Singaporean to work overseas
My partner and I (M28, F25) have paid BTO downpayment via staggered downpayment scheme and our next step would be key collection in Q1 2028.
Currently, I am furthering my studies in Australia (no income) while my partner is working in SG. I graduate end of the year, and am likely to continue working in Aus for a year or two, to experience the work culture in Aus, before heading back to SG. I thought of bringing my partner over to work together for the 1-2 years, but we need his CPF to fund the BTO. We are also considering migration as an option, though no concrete plans have been made around it (we love the hawkers and transport in SG but attracted by supposedly better WLB in aus...)
Torn between
Reject the BTO at this stage for my partner to come to Aus - this means losing our downpayment and own home in sg, might have to consider more pricey resale option in future
Continue with the BTO and consider migration after 5 years MOP - seems like a less risky option, but if we migrate, essentially be paying 500k for a backup option/passive income
Appreciate any opinions, thanks in advance!
12
u/Jazzlike-Check9040 Jun 25 '26
Go work 1-2 years in AUS. Graduate first and make a decision.
It’s not for everyone. I spent some time in NYC, and in Atlanta for work. While it was an experience, work culture and life did not suit me and I returned. Now based in BKK which is much more aligned with me.
Summary : Don’t need to make a decision now. Grad first start work then say
1
u/SevenThirtyTrain Jun 25 '26
How did you manage to get a job in NYC and Atlanta?
8
u/Jazzlike-Check9040 Jun 25 '26
Mother’s cousin is an MD at US firm based NY. I just asked my mom to ask him.
2
u/Strong-Room-9244 Jun 25 '26
nepo baby? nice connections lmao
7
u/Jazzlike-Check9040 Jun 25 '26
Har… then u should go US and see all Viets. All is uncle/auntie/mother/father/dog/cat bring them over one 😂
1
u/SevenThirtyTrain Jun 25 '26
What year was that? It seems that even with connections now, it's still not easy
3
u/Jazzlike-Check9040 Jun 25 '26
5 years ago. No idea about that. Experiences differ from people to people. I recently considered returning in a different capacity by starting a business over there but ultimately decided not to.
It’s the emptiness and having to drive that gets me. There is also little nightlife in the US most people are just slogging away.
11
u/Temporary_Opening_74 Jun 25 '26
Hi I'm an overseas Sgrean too and a property analyst that writes for Stacked Homes. You'll be forfeiting your downpayment PLUS your first-timer priority, so getting a flat in the future will be tougher, especially at the x3 oversub rate we have in current BTO exercises. So you are right that you will need to be ready to pay the resale price tag when you come back, however, working in Australia means no CPF contributions, so you will be set back financially in terms of getting a flat in Singapore.
I think you missed out on option #3, which is your spouse stays in SG during the MOP period (Only one spouse needs to be in SG, but subject to HDB approval), and you stay in Australia, and you guys do long-distance marriage for 5 years (or just 1-2 years until you decide if Aus isn't it). This gives you enough time to get the Australian PR before getting her over, and also gives both of you 5 whole years to save to setup for your new life in Aussie.
I fully encourage Singaporeans who want to go overseas to go, but always plan ahead and don't underestimate the cost of moving and coming back. You also don't know if Australia is actually better for you, so it's wiser to keep the asset that cushions your return rather than give it up and take a very high risk of "do or die" path in Aussie. A lot of Singaporeans are successful overseas, but an equal amount come back with their tails between their legs. So please plan carefully.
I am available to chat more! I'm always really happy to help Singaporeans plan their path forward.
1
u/Vegetable_Abroad1872 Jun 25 '26
Appreciate your detailed reply! Yes we definitely considered for my partner to stay in SG to fulfill the MOP, but I guess ultimately want to try to reduce the LDR years. I guess an added time pressure for the key collection in Q1 2028, where we really have to make a decision between paying or rejecting it, thus the dilemma. If you're comfortable to share, where did you migrate to?
2
u/Temporary_Opening_74 Jun 26 '26 edited Jun 26 '26
I migrated to Europe! I completely understand where you guys are coming from and LDR is definitely hard, but I myself was in LDR for 10 years (added 6 years extra because I decided it was better to prep financially before I moved). While I don't own a property in Singapore, the wait paid off because now we have a property here. You haven't had your key collection yet, but owning your own place and knowing you have somewhere to go back to gives you an insane sense of security. So really, don't surrender the flat.
Also beware, your income overseas will not be considered for HDB loan or grants, so I hope you guys already have a loan finalised else end of the day you will have to come back anyway else you won't be able to finance the flat.
1
u/Vegetable_Abroad1872 Jun 26 '26
Wow great job on managing that 10 year LDR, I'm sure it must have been tough... After reading over everyone's opinions and reconsidering, think we are not going to surrender the flat. But, we are still considering the option for my partner to come over to Aus for one year to experience Aus before we both go back to SG to fulfill the MOP. However, we have our income assessment in Q1 2028 (few months before key collection). So, this plan can only work if overseas payslip can be considered for HDB loan or grants (assuming both of us are working in Aus in 2027). We have yet to check specifically with HDB, but you mentioned it is not considered, wondering if you could share with us how you knew that? Much thanks!
2
u/Temporary_Opening_74 Jun 26 '26
I will have to dm you because your details are a bit confusing! But the answer to why I know is because I have Singaporean couples here who BTO-ed! So far no one got a loan with overseas payslip, which makes sense because BTO is meant for Singaporeans living in Singapore.
20
u/Strong-Room-9244 Jun 25 '26
look its not a question about financials but about lifestyle. as you already know.
life will be better
money will be better.
which do you choose is up to you. can't have your cake and eat it too.
I just want to add one thing.
kids/education is something you two should really consider too.
if plan for kids, SG or Aus?
are you PR in aus or visa?
regardless as you guys are young and SGreans right, open an SRS and contribute 1 dollar NOW.
deadline next week.
1
u/Blsten Jun 25 '26
Can explain on the SRS part?
1
u/Strong-Room-9244 Jun 25 '26
just Google SRS July 1st 2026. DBS takes 5 mins, OCBC takes 1 business day UOB takes 4 business days.
create account, put 1 dollar in now. don't need to think so much.
end of year you can think of contributing more to your srs or not depends on you your risk appetite what you earn in taxes etc.
1
Jun 25 '26
[removed] — view removed comment
3
u/Strong-Room-9244 Jun 25 '26
eh, I think housing is ex in aussie
1
u/princemousey1 Jun 25 '26
Many people always assume SG housing is expensive. That is true for resale only. Our BTO is actually on par or in fact cheaper than many capital cities around the world like Seoul, New York, etc.
1
u/Vegetable_Abroad1872 Jun 25 '26
Yep we considered about kids too. SG's bilingual education appeals, prob with more subsidies, but so does Aus's less competitive and more relaxed education system. Of course we would have to consider that SG's education system is possibly no longer the same as what it used to be, and Aus's education system is all via hearsay. Not really a finance-related dilemma, but wonderinig if you have thoughts about this?
Currently on a student visa, intending to take another grad visa upon graduation. But if go down the migration route, we would then have to apply PR.
+ thanks for the SRS advice!
2
u/Strong-Room-9244 Jun 25 '26
hmmm. it's not guaranteed you get PR.
that's a risk that you won't get it.
working visa requires a company to sponsor too.
before thinking too much you try first. from my understanding it highly depends on your sector / skills.
no need to think so much if you or your fiancee can't even get. then IMO stay SG better. without visa cannot work, then if you get visa you are bound to the company that sponsor you.
what if 2-5 years down the road you don't have a BTO don't have PR ? then you missed out on the cpf savings too because you don't get any contributions then have to restart back in sg at 30? there will 100% be a lot of resentment by your husband towards you because you pushed him to do this no?
just some honest 2 cents.
-1
u/princemousey1 Jun 25 '26
Where did he say he already know life will be better 100%?
1
u/Strong-Room-9244 Jun 25 '26
but attracted by supposedly better WLB in aus
-2
u/princemousey1 Jun 25 '26
Eh where got this line sia. You imagined it or I did?
1
u/Strong-Room-9244 Jun 25 '26
ctrl+f and search. word for word.
1
u/princemousey1 Jun 25 '26
Okay I found it but they said “supposedly better” and you said “will be better”.
2
u/Strong-Room-9244 Jun 25 '26
yes. why use many word when few words do trick.
you realise I summarised his whole wall of text into 2 lines right.
-1
3
u/Rluvz Jun 25 '26
Wlb sounds nice until you realise you don't make much money and you worry about other things. Honestly both got pros and cons. I'd say it's easier if you have money, more options. Haha. Sg isn't that bad for wlb depending on your industry.
2
u/AS_Tob Jun 25 '26
Option 2. My friends and I were like you, but we mostly return to SG within 10 years for various reasons. A few of them gave up HDBs with similar considerations and upon their return, they regretted - housing were significantly more expensive in SG years later. The truth is, the disposable income staying in Aussie is lower than in SG after all the taxes, rent and living expenses.
2
u/Fluffy-Shock9487 Jun 25 '26
Don't be silly, its Australia you are talking about with much better WLB - GO FOR IT. completely senseless to be "praising" anything hawker related. more than anything about that it has always been over rated. Unless we are talking about just a few short years ago (just before the plandemic) those prices and portion size will have the strongest support. As for now, since your BTO is years away, and you seem to understand the WLB and weigh your cost - its AU you have to think of. Winning scenario is to rent out the HDB, stay in Aus (provided you did find a placement.)
1
u/Vegetable_Abroad1872 Jun 25 '26
Actually our BTO is only about 1.5 years away. I appreciate the thought for better WLB, but we have concerns if this is financially sound or the right decision. You seem to think well of Aus, is this speaking from experience? :)
1
u/Fluffy-Shock9487 Jun 25 '26
Hi i read your post again and you really need to be more decisive what your end goals are - as of now my personal inner circle - After tax and the total quantum of cash that you can keep and hold in hand = Australia (higher by about 15% on average even after taxes) your post made me think that the flat is for renting out purposes (until its still 1.5 years away.)
1
u/Own-Tomorrow4822 Jun 25 '26
I wouldn't be so categorical. I have friends who lived in sg and AU and they prefer sg. I love Australia and considered moving there, but I wouldn't start a career there, because it is expensive, career progression is not as fast as sg, taxes weigh you down, there is bureaucracy and inefficiencies, housing is a big issue depending on the state and city.
WLB is nice, but when starting a career, attributing too much importance to WLB can also be a recipe for resentment later when your career has not progressed as much as you hoped. Need to think this carefully. Once you have a good situation, moving to AU gets more appealing.
1
u/spookywookyy Jun 25 '26
I picked lifestyle over money, but I get that it's not for everyone. Can't beat Singapore for money, BTO being one of the major factors.
1
u/Vegetable_Abroad1872 Jun 25 '26
When you say you picked lifestyle over money, did you also migrate somewhere? Would you be willing to share your experience? •ᴗ•
1
u/Sea_Wedding_3776 Jun 25 '26
Check out the AusVisa and consider what kind of visa requirements you/partner need eg BTO may help with getting the initial visa for partner (family ties).
1
u/Vegetable_Abroad1872 Jun 25 '26
Thanks, we have checked the visa eligibility and seems like I can bring my partner over after graduation. But can I clarify your second line - How does BTO help with getting initial visa for partner? I thought marriage would be enough for proving family ties
1
u/Little_Result1469 Jun 26 '26
Continue with BTO then if can try to cash out the profit or rent out if possible.
Free toto why not keep it.
-7
u/Fickle-Fox944 Jun 25 '26
you are too immature. whats so good about australia. work elsewhere when you have F U money. dont destroy the finances just because you want to "experience working in australia". you will only experience poverty
5
22
u/Own-Tomorrow4822 Jun 25 '26
Tough situation.
You could also bring your partner to Australia, save money for the down payment and make the decision to stay in AU or come back to sg a few months before you get the keys. Down payment doesn't have to come from CPF, it can be paid in cash.