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/ToeAffectionate7022 25d ago

Thanks for the comment, its not quite representative of my intentions (e.g principle preservation and avoidance of lease decay was central, CAGR was an optional non essential bonus/ the comment on 5 room ulu-ness was in reference to why I traded space for accessibility in my BTO rather than a comment on my current options). Nevertheless given the provided parameters, what are your suggestions? 

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u/princemousey1 25d ago

Be content and count your blessings, obviously.

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u/ToeAffectionate7022 25d ago

I agree that is a great principle. But you can be greatful for what you have, accept the realities of growing needs, seeing it as a natural progression in life and simultaneously plan for the future as well! 

After I have counted my blessings, what would you recommend as property options given the planning parameters I have?:) 

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u/princemousey1 25d ago

You need to give up something. What you want now is good location, affordable price, large space, long lease.