Bto Or Ec?

[Queenhera 0]

Hi all.. in need of your expertise and guidance here..

My main objective is to get a NEW HOME.

Current situation :

Both working with >$5k per household. (minus rainy day savings & commitments)

Staying at Bukit Batok, 4A room HDB. (bought it at 378k, as of Jan'13 the valuation somewhere 450k)

And no children yet.

Next Year April 2014, 5th Year.

As of this March 2013, our outstanding HDB loan is $270k.

With our hefty mthly CPF payment of $1200 so after 4 years, we both combine have only abt $20k in CPF. :s

I understand that there will be a $40k levy if we apply for BTO (say an upgrade to 5rm at a new, non-mature estate).

Other than the levy, we wont hev any plc to stay while BTO is ready.

Also, we know that there is no levy for Exec. Condos. / Private apt(dun think we can afford it though) but bank loans stories are scary! Whatever it is, we are playing with the thoughts.. or shall i say I am playing with the thoughts coz my hubby is very very skeptical abt these things.. (He is a non-risk taker and always thinking of What "if"s.. basically a safe person)

But he asked me to do gather as much info as possible, to SELL the idea that we could live happily and not too stretch and retire happily. hah.

The question now what is feasible- make sense- best option- practical- doable- too ambitious- risky decision?

Like ive mentioned, our main obj is to just have a new home, and the move needs to be most practical and beneficial for us and we dun hev a clue which way. heh.

Wld like to know set a financial goal too as in how much by next year in cash and/or cpf we shd hev to make a move..

Will you be kind enough to at least share your experience / expertise on the best options for us. And of couse i'll consider you wen it comes to selling my home. lol

Appreciate ANY and ALL suggestions

xoxo..

[therat 18]

My main objective is to get a NEW HOME.

Why New home?

Now HDB getting smaller and smaller. The quality also not very good.

Current situation :

Both working with >$5k per household. (minus rainy day savings & commitments)

Is >$5k each or total $5K

I understand that there will be a $40k levy if we apply for BTO (say an upgrade to 5rm at a new, non-mature estate).

Other than the levy, we wont hev any plc to stay while BTO is ready.

U can stay at your present 4 room until u get the key then sell away the 4rm.

Still had place to stay.

But he asked me to do gather as much info as possible, to SELL the idea that we could live happily and not too stretch and retire happily. hah.

don't want to too stretch, then stay at your 4rm. Don't move. Unless you want to move out from Bukit Batok.

The question now what is feasible- make sense- best option- practical- doable- too ambitious- risky decision?

IMO, the household only 2 of you. different between 4 rm and 5rm just a dinning area.

Unless is change of location.

Or else to me, waste money, waste effort.

Move for the purpose of moving

See ppl move house, also want to move.

[Queenhera 0]

Woah! therat u so stern hahhaha..

Anyhow thx for sharing ur thoughts..

5k per household.. total both me n him.

am glad that to know that i can still stay in my flat till keys r collected..

yes, we r looking forward to a new environment...

i guess u r right in the sense that 4 to 5room is just a dining area.. but really arr??

i saw some floor plans like ok ley.. anyway, my current plc is 92sqm :s

see pple move hse, i also want.. lol. mayb true.. but i think our overall obj is to be in a new environment, not really to make money or wat but if there's opportunities, it will be great. However, if after weighing pros and cons and like u've mentioned waste $ and effort, i guess we shall not move.

thats y i seek advices and expertise and thoughts from more experienced ones.

thx!

[therat 18]

5k per household.. total both me n him.

Don't overstretch.

For me, I will not get a 5rm flat.

4rm is more weather proof.

When market bad, ppl looking for downgrade from 5rm, EC to 4rm or 3rm

When market good, ppl looking for upgrade, 3rm to 4rm , 4rm to 5rm,

yes, we r looking forward to a new environment...

i guess u r right in the sense that 4 to 5room is just a dining area.. but really arr??

http://www.hdb.gov.s...om?OpenDocument

HDB's 4-room flats offer an intimate and cosy living space.

FeaturesWith an estimated floor area of 90 square metres, each flat comes with

• A living/dining area
• Kitchen
• One Master bedroom with attached bathroom
• Two other bedrooms
• Common bathroom and
• Storeroom-cum-apartment shelter

http://www.hdb.gov.s...om?OpenDocument
DB's 5-room flats are ideal for a small family of 4 or 5 members. They offer a comfortable living space even for an extended family.
Key featuresWith an estimated floor area of 110 square metres, the layout comprises of:

• A living area
• Dining area
• Kitchen
• One Master bedroom with attached bathroom
• Two other bedrooms
• Common bathroom
• Storeroom-cum-apartment shelter

see the different..

only 1 dining area.

The thing is, is it a need to had so big space.

Mop more area

sweep more area

do more house keeping

Increase work load.

[Cnocturnum 0]

Hi! .

You go check the penalties and restrictions, pls.

But my take is that you two should only move if there is something not good, not right, not happy with, your present place.

If your neighbourhood is nice and pleasant, quiet, near to mrt, bus terminus or bus stop, neighbourhood shopping centre, wet market, supermarket, and yr immediate neighbours are friendly, helpful, nice, then you should not move.

You do not have much in yr 5K to upgrade simply for the sake of upgrading, so don't play play. Risk only if worthwhile.

Spend instead to improve yr current home.

Be happy.