Dbss Flat

[mum2kids 0]

currently have a house, according to hdb website, lowest a person is selling for my flat is $331k.

my house is only a 75sqm. have hacked my master bedroom and common room to become one.

i wanna buy a new house mainly for my kids education.i dun need a good primary, im looking at convenience cos the dbss at amk aka park central, it has a primary school just beside the school. toa payoh aka the peak also has one school which is walking distance. but of course park central is even nearer. but....... i dun tink i can afford it. monthly contribution to cpf per mth is 500 plus because it is a single income family.

i dun quite like the idea of getting a resale, not comfortable at all. although im trying to convince myself to get a resale but im a afraid i am sure to regret. another thing, my current house is a 4rm so if i get another 4rm, its gonna be a bank loan. i have heard disadvantage are higher interest so not safe, blah3.. if take 5rm, expenses as in bills and tax are higher and rebates lower.

my current house doesnt have a primary school nearby. nearest will be, maybe like 6 bus stops away. meaning also have to set aside for my bus fare. i like sending my kids to school. but i send and go home then fetch and go home. 4 trips. currently im doing that too cos the kindergarten at my place doesnt have the mother tongue that i want.

i guess everyone will tell me to stay at my current place rite?

[forgotten 1]

currently have a house, according to hdb website, lowest a person is selling for my flat is $331k.

my house is only a 75sqm. have hacked my master bedroom and common room to become one.

i wanna buy a new house mainly for my kids education.i dun need a good primary, im looking at convenience cos the dbss at amk aka park central, it has a primary school just beside the school. toa payoh aka the peak also has one school which is walking distance. but of course park central is even nearer. but....... i dun tink i can afford it. monthly contribution to cpf per mth is 500 plus because it is a single income family.

i dun quite like the idea of getting a resale, not comfortable at all. although im trying to convince myself to get a resale but im a afraid i am sure to regret. another thing, my current house is a 4rm so if i get another 4rm, its gonna be a bank loan. i have heard disadvantage are higher interest so not safe, blah3.. if take 5rm, expenses as in bills and tax are higher and rebates lower.

my current house doesnt have a primary school nearby. nearest will be, maybe like 6 bus stops away. meaning also have to set aside for my bus fare. i like sending my kids to school. but i send and go home then fetch and go home. 4 trips. currently im doing that too cos the kindergarten at my place doesnt have the mother tongue that i want.

i guess everyone will tell me to stay at my current place rite?

It's not recommended to commit "financial suicide" by taking up a loan that you cannot afford. If you buy Condo/DBSS and default on your loan instalments for more than 3 months, your house can be repossessed by HDB/Bank.

No matter what type of house you buy, you still need to pay for agent commission, legal fees, stamp fees, renovation cost etc. I am assuming that the COV from your house sale is enough to pay for the COV of the new house.

How about getting a school bus service to send your kids to and from school? The school bus fare is still much much cheaper than the above total cost of moving house.

Edited January 24, 2010 by forgotten