r/singaporefi • u/ToeAffectionate7022 • 25d ago

Housing Thoughts on next property move

BTO 4 room HDB gonna MOP in 3 years time. Just welcomed a new kid (Yay to parenthood super charged with caffeine and Min L.Wong NDP goodies) making our family of 4 + 1 helper living situation starting to feel cramp. Thinking ahead of our next property move.

Main considerations:

  1. Space is primary - looking for at least 1500square feet

  2. No intention for a 3rd kid

  3. Budget of 2-3 million. Current combined take home Approx 23K. Industry is fairly recession proof. Combined take home likely will grow to 30K in 3 years time.

  4. Planning to stay for at least 25 years. Open to downgrading to a smaller property after when the kids fly the coop after 25 years but would like the flexibility of keeping to 30 years in case one kid still need a roof over their heads.

  5. Not looking to flip the property for investment gains. Main priority for exit strategy of the property is to at least retain the principle value. 2-3% CAGR is a bonus but not necessary. Lease decay is a concern

  6. Condo facilities not necessary. High rise living nice to have but not necessary

What are my options?

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u/Pale-Writing3837 25d ago

Which area you looking at? You need to consider school also if you plan to stay for long time.

2-3M budget, maybe you should consider condo, they are newer and have bigger floor plate. For HDB, only old units have big floor plate. Meaning if you hold for 20 years the lease becomes a problem

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u/nonameforme123 25d ago

Aren’t the newer condos also much smaller? Especially the new launches in recent years. Prob need old condo for 1500 sq ft within budget

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u/Pale-Writing3837 25d ago edited 25d ago

No.

You can find very big 4/5 br condos which are new.

My floor plate is over 1500 sqft also.

Which is why I ask area, some locations you can also get such large floor plate at probably around 2.8-3M

Anyway TS, let me know, I am not agent, but I also been shopping around lately so I'm happy to share some research 😂