Is it advisable to get a landed property as the first property as a young couple? I (30) and my gf (29) are planning to get married soon.
Our salaries are slightly above the BTO ceiling.
Although we can try to appeal, we are considering to get a landed property as our home. In particular, we are looking at those very old property and tear it down and rebuild a new house.
It’d be really nice to have our own inputs into how the house would be designed into our dream house. Both of us grew up in HDB flats sharing with many family members and we’d like to get a change of environment and get much more space.
We are thinking of getting a long loan like 30-35 years and slowly pay off as our income grow in future.
I think just the downpayment alone would totally wipe out our savings + cpf but we see it as a long term investment. Is it worth it to get such a property considering our age/ income?
Here are what netizens think:
- A freehold landed property is a great idea. But interest rate wnt stay this low for long. It also depends on how much downpayment u are going to make. And ur job security over the next 30 years.
- “Our salaries are slightly above the BTO ceiling” I guess he mean his solo salary and his gf solo salary is already slightly about the BTO ceiling individually.
- No need think so much wan.. Very simple… Take 5m as budget, u pay 1m down-payment… See if bank will to loan you 4m or not lor…. The bank will help u make the decision
- Definitely worth it. If can afford pls go ahead. Not only will you be the envy of your friends but the investment potential is fantastic. 20 yrs ago landed is less than 1m. Now it’s 5m. 20yrs later maybe 10m.
- Rebuilding a house in 20 years ago was 2m+. After rebuilding, the valuation went up, property tax from a hundred + a year to 5k + a year, monthly maintainence abt 1k not including helper salary. Think twice and plan properly before making this decision unless u hv a strong financial support.