In Need Of Advise...

[eudora 0]

Hi all,

My current situation is this, I have made a 2k booking fee for a bto (Treelodge) which is suppose to end on 2012 (likely 2011 can get key but on paper is 2012). However as I am counting down to that date, I feel that it is a very long wait and I am considering should i give up the BTO and the 2k for a resale flat maybe 1-2 years later which would suit my plans with my gf better...

Looking at the current CoV situation with resale flats, is it likely that it will drop back to a more normal level of < 10k? I feel that asking 20k cash for a resale flat is just ridiculous because I will probably need a even bigger reno budget for it... that money would be better spend on reno imo...

In summary, my option is

1) Wait for treelodge and sign the lease end of the month

- This would allow us to continue saving for the next 3-4 years but in between I am not sure how.. cos no house = no wedding for me..

2) Forfeit treelodge and wait 1-2 years later to go for resale at Hougang or Sengkang area? Can get grant for living near parents...

- I think we will take a reno loan and parent loan cos I feel reno will cost a bomb and our savings by then may not sustain reno + wedding + cov

I am now 26yo, my ideal age for marriage would be before I hit 30... my other half is now 23 yo.. I would really wish to start having our dream home like the many other people in this forum...

So, do you guys think Treelodge is worth the wait?

Am I still eligible for the hdb grant for resale flats as first timer since I do not own any previous property?

Edited November 18, 2007 by eudora

[MaCe 3]

i believe you got the treelodge at a good price(before the crazy skyrocketing market).

then stick with it.

If you buy a resale now - then prepare to empty your bank acct and go into the reds, owe the banks for YEARS or even decades(provided you aint rich).

And you really cant wait - can always rent a flat.

nothing wrong with marrying late or early - I got married at 36. is there anything wrong?

[icestorm 0]

i believe you got the treelodge at a good price(before the crazy skyrocketing market).

then stick with it.

If you buy a resale now - then prepare to empty your bank acct and go into the reds, owe the banks for YEARS or even decades(provided you aint rich).

And you really cant wait - can always rent a flat.

nothing wrong with marrying late or early - I got married at 36. is there anything wrong?

I think it really depends on whether you and partner are willing to wait for the new house.

To answer your question on the resale grant, yar..1st timer get $30k grant, and additional $10k grant if you stay near parents.