Where to stay after marriage? Part 1

After she had accepted your proposal to be yours forever, its time to start building our own nest.

Where and how should we build our nest?

The most common housing type for Singaporean is to apply for a flat from Housing Development Board (HDB).

Things to look out for when hunting for a HDB flat.

1) Built to order (BTO)

A scheme where you already booked and paid a deposit (from 5% to 20% of purchase price). HDB will proceed with the construction when 75% of the units are sold.

You would be the first owner to the flat and purchase price would relatively be cheaper than from the open market.

But need to wait at least 2 - 4 years for the construction to be completed.A trend that the floor area getting smaller and smaller. For example, a 5 room flats floor area is getting from 130 sqm to 110sqm.

2) Open Market

Just get a resale flat in the open market. Do try to stay near to your parents and get an additional CPF rebate of $40,000.

Able to shift in relatively fast when the legal works had been completed. But then, you are not the first owner of the property.

3) Balloting & walk in selection

HDB occasionally has balloting exercise or walk in selection exercise for buyers to purchase those unsold flats.

Just need to watch out for advertisement on the above. If you need a flat urgently, want to be the first owner and do not mind selecting those leftover flats, this is the choice for you.

4) Stay with parents

Why spend a bomb on buying a flat to build our own nest when we can stay with the parents?