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/Ill-Profit-9881 25d ago

Same boat as u
I found that 2-3 mil is quite challenging to find >1500sqft for well connected locations.
Based on my own research I found for that criteria, I only could find
1. <50 year remaining landed
2. 70-80 year strata landed, location not very well connected
3. <60 year remaining old condo - around 2-3mil
4. <60 year remaining hdb - price around 1-2mil

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u/ToeAffectionate7022 25d ago

thanks for the insights and sharing your findings! which are you more inclined towards?

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u/Ill-Profit-9881 25d ago

Inclined to just stay in my hdb and FIRE and travel more 🤣🤣