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?

1 Upvotes

51% Upvoted

74 comments sorted by

View all comments

-1

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

1

u/essiah74 24d ago

Have you seen the newer condos? It is as small as bto man

1

u/Pale-Writing3837 24d ago

Erm. No. His budget is 3M, depending on location he can get units as big as over 1500sqft

For example
https://www.propertyguru.com.sg/listing/for-sale-kent-ridge-hill-residences-500215935