Resales HDB

[zac's mum]

Hi I think before you even commit any money, whether BTO or resale, you need to consider:


- how old is your child? I assume not registering this year for P1 2021 because it’s too late to change address

- if <5 years old (or unborn yet) still ok got time to shop around for flat. BUT take a look at the balloting history of the famous school <1km of your target flat. Is there any balloting for applicants <1km? If so, how high or how low are the odds of winning the ballot?

There is seriously no point dumping all that money into a flat if there’s no guaranteed place in the school. Imagine going for balloting but didn’t get the place. Then you will be very heart pain & sour grapes staring out the window at the school every day for the next 6 years while your child has to travel somewhere further for schooling!

[Missyissy]

Thank you for your reply. My kid will be registering next year for 2022. The reason why we want to move is because of the travelling time (Around 30-40 mins) plus my mom is the main caregiver for my kids. Even their current childcare is near my parent’s place. They have to wake up super early every day.


For my elder kid’s primary school, we are either looking at the one near the new area or the one at my parent’s place. But definitely not at our current place as no one will be at home. Getting a helper is quite impossible due to space constraints.

[zac's mum]

Yes I can understand.


Regarding flats, some other considerations are: old resale flats usually need major renovation. So u have to factor in cash from your savings, or Reno loan (less advisable). Plus point is the bigger space (do u really need it if you have 1-2 kids of the same gender? Not necessarily)

Regarding school registration, if u can check the balloting history for <1km will be major factor. If needs balloting but there is an acceptable 2CS in the vicinity, it seems ok to try the balloting. At least your kids can still have a nearby backup to go to.

U can use an unfinished BTO address to apply for P1 registration next year (double check the estimated TOP date is ok with MOE).

Other than that, new or old flat is up to your own preference. Budget also up to your situation cos I don’t know. Worth the investment (provided u can get into the school) since u have 2 or more kids plus your mum is nearby.

[zac's mum]

If u are asking about investment/profit potential, unfortunately now is the peak of the HDB resale market. Prices are expected to fall over the next 10-20 years due to recession. As long as you are buying for logistics & family convenience, plan to live there forever, it’s perfectly fine but don’t expect any profit over short term or even long term.


As a matter of prudence, I would advise not to overcommit financially in this climate, unless both your incomes are iron rice bowl.

[LeilKhor18]

Good point zac’s mum

[MummyY]

zac's mum\" post_id=\"1985461\" time=\"1594613044\" user_id=\"53606:[quote=\"zac's mum\" post_id=1985461 time=1594613044 user_id=53606]
If u are asking about investment/profit potential, unfortunately now is the peak of the HDB resale market. Prices are expected to fall over the next 10-20 years due to recession. As long as you are buying for logistics & family convenience, plan to live there forever, it’s perfectly fine but don’t expect any profit over short term or even long term.

As a matter of prudence, I would advise not to overcommit financially in this climate, unless both your incomes are iron rice bowl.[/quote]

I actually heard something similar recently. It's speculated that things would be super bad in the next ten years... And things might worsen after USA election in Nov. So do be careful with your spendings. Of course if you have reached financial freedom, congrats! And pls contribute to the economy by spending 😆