Advice Needed!

[Cyril1986 0]

I'm new to this forum and after reading up lots of thread I decided to seek help here.

So it starts like this:

I just got married on sept 2011. Both parents passed away and left a 4 room flat for my younger bro and I. However both of our character clashes and can't stay together under the same roof.

Now I'm looking for a suitable place to stay ASAP. And this comes to a question of BTO OR RESALE? If BTO, I'll need to wait for at least 3 years before moving in to my new place. During this period of time where should I stay? If RESALE, the up front cash is too high for me to afford. Even though I can use the proceedings from the sale of my current 4 room to cover. But it's really a lot of cold hard cash. Plus renovation plus furniture and appliances. How much do I need to cough out with?

I'm really lost and really don't know what to do already. Desperately need help from people who could guide me to the light.

Please drop me a mail at cyril_ian@hotmail.com or in this thread to give me the advice I needed. Thanks a lot and really appreciate it for all the kind souls help.

[Plastic3 0]

I'm new to this forum and after reading up lots of thread I decided to seek help here.

So it starts like this:

I just got married on sept 2011. Both parents passed away and left a 4 room flat for my younger bro and I. However both of our character clashes and can't stay together under the same roof.

Now I'm looking for a suitable place to stay ASAP. And this comes to a question of BTO OR RESALE? If BTO, I'll need to wait for at least 3 years before moving in to my new place. During this period of time where should I stay? If RESALE, the up front cash is too high for me to afford. Even though I can use the proceedings from the sale of my current 4 room to cover. But it's really a lot of cold hard cash. Plus renovation plus furniture and appliances. How much do I need to cough out with?

I'm really lost and really don't know what to do already. Desperately need help from people who could guide me to the light.

Please drop me a mail at cyril_ian@hotmail.com or in this thread to give me the advice I needed. Thanks a lot and really appreciate it for all the kind souls help.

Hi,

If you decide to buy a BTO you can find a place to rent until your BTO is ready.

You can also check HDB for sale of balance flats, some may be near completion...so the wait is shorter

(Sale of Balance flats are: balance flats from earlier BTO, surplus SERS replacement flats, repurchased flats)

I have done a comparison of BTO VS Resale some time back, you can see the link below:

http://www.limyumu.com/hdb-bto-vs-resale.html

Best,

Mark

[Cyril1986 0]

Thanks mark for the reply!

I've thought bout it. Let say I go for BTO

Waiting time around say 3years. Renting a unit cost around 2k so 2000 x 3 x 12 = 72k that is almost like I buy resale.

For balance flat sales, recently they just pushed out a batch of huge quantity. I really doubt there will be any more release until end of 2012 or even later. Sigh. Really very stress over this issue. Like walking to dead end on every turn I take.

[whisper 0]

Money or time, which one can you compromise?

How much longer can you stay with your brother? How much unhappiness it has caused by staying together?

If you really have budget constraint for resale, if you don't find renting a flat is worth to do, if you find waiting for BTO is too time consuming, perhaps you have to think a better way to communicate with your bro so you both can stay peacefully under the same roof. If you can't do it, get a friend or relative to help.

If you don't really feel like staying longer with your bro, then you have the following options:

1) move out, set a budget to rent a place for 1 yr while looking for resale flat

2) move out, set a budget to rent a place for 3 yrs while waiting for BTO

3) straight away look for resale flat.

Start to work out your budget.

There are all kinds of resale flat available.

If you can't afford a big one, then buy a smaller one. You can always upgrade to a bigger unit in future.

If you can't afford high COV, some areas are still offering low COV. Some low floor units or north area or units with fair condition are not requesting too much cash. Location, floor number, unit condition or seller's urgency to sell can affect the COV.

Things can always be compromised. Just weigh each factor, which one you want it to give way. Then you shld know roughly which is the best solution for yourself. The best for us doesn't mean the best for you.

[icer 0]

The COV is really too high now. Very ridiculous!

I'm new to this forum and after reading up lots of thread I decided to seek help here.

So it starts like this:

I just got married on sept 2011. Both parents passed away and left a 4 room flat for my younger bro and I. However both of our character clashes and can't stay together under the same roof.

Now I'm looking for a suitable place to stay ASAP. And this comes to a question of BTO OR RESALE? If BTO, I'll need to wait for at least 3 years before moving in to my new place. During this period of time where should I stay? If RESALE, the up front cash is too high for me to afford. Even though I can use the proceedings from the sale of my current 4 room to cover. But it's really a lot of cold hard cash. Plus renovation plus furniture and appliances. How much do I need to cough out with?

I'm really lost and really don't know what to do already. Desperately need help from people who could guide me to the light.

Please drop me a mail at cyril_ian@hotmail.com or in this thread to give me the advice I needed. Thanks a lot and really appreciate it for all the kind souls help.