Recently the topic of shifting places, cropped up again as there were many cockroaches that flew into our house the past 1-2 weeks.
I am very terrified of them and each time, had to rely on my husband to kill them.
We are living on the 6th floor but somehow cockroaches love to fly into our house. We had one night where 2 cockroaches flew into our house! Eew...
We looked online to see what are the HDB prices at Teban, Pandan Garden. We sort of missed Teban (where we rented a flat for 2 years in 2013/2014). Though the neighborhood was not big, it had everything we needed.
And it is very accessible to Jurong East. And if we feel like going to Chinatown, we could easily hop on bus 143 to get there. My mother's place is at clementi, so it is very easy for us to visit her every sunday night.
Now at our current place at Bukit Panjang, it is abit hard to get anywhere. Nonetheless, in terms of size, you can't get a size so big at such a low price anywhere else.
My husband spoke to his agent friend and she said to wait out the 5 years TOP and buy a private properties. She was referring to the landed properties that have less than 40 years lease left.
The loan quatum for such properties is at most 60% and if the lease is less than 30 years, CPF monies cannot be used to pay for the properties. This is definitely not for me.
what i envision is for us to sell the flat after another 4 years, downgrade to a smaller flat (4-room) flat at a high level. The new flat should be cheaper, I definitely do not want to take on a heavy loan when i am 40 years old. I hope by the end of 4 years, my CPF monies could have grown to 100k in my OA and my outstanding loan is left with 250k.
I bought my house for 422,000, spent 15,000 on renovations. As we also took the HDB grant of 30,000, we must sell the house 470,000. Even after selling at this price, we won't have much size proceeds.
Assuming this is the case, after selling the house, i should have 160,000+100,000=260,000 in my OA. On hand, i would have 17,000 cash. All i need to do is to find a property that is 260,000 and less (Pandan and Teban has smaller units that fall in this range). I could potentially be debt free.
Though my OA would be zerolised, I still have some leeway to build up my retirement nest nonetheless.
