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..
