Before this becomes old news, I thought I should document it. So much has happened in the past six months and it’s hard to form proper memories when one is busy and lacking sleep. Hopefully these visual records will serve as happy reminders when R and I finally have time again to sit and watch the clouds go by.
We didn’t plan on buying a house. We did consider a BTO flat, but it didn’t cross our minds to look at the resale market. Yet somehow, in two weeks’ time, we are about to collect the keys to a resale flat – our first home together!
So what happened? It started over brunch with D and WX in October last year. We shared with them our thoughts of going overseas after getting married and D’s response was, “Then you should buy a house, rent it out and get some income while you’re travelling.”
We realised that what she said made sense and it was in fact a brilliant idea. But we held back, uncertain of what to do and wondering how we could afford a resale flat based on our current income.
I suppose we didn’t have to pursue it but my curiosity was already piqued. So I poked around PropertyGuru, R analysed the situation, and we soon discovered that the price of a resale flat in a mature estate is only slightly higher than the price of a BTO flat in the same mature estate. Taking into consideration that we would need to pay rent for three years (while waiting for the BTO flat to be ready), the difference in price would be negligible or close to none.
Also, with a number of grants that we were eligible for, purchasing a resale flat was not as unattainable as we previously assumed and was actually well within our reach. More on this in an earlier post.
With our misconceptions of the resale market cleared, we embarked on the hunt for a resale flat that we could eventually call home.
We visited these six houses in October last year. Two on the first weekend, one on the second weekend, three on the third weekend, and one on the fourth weekend.