To buy PTE or HDB?

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Mr Ong Mr Ong
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To buy PTE or HDB?

Stumbled across this great site!!!

Hope to get some insights on my dilemma.

Kid got into good sec school in Bukit Timah Rd (tan kah kee mrt vincinity) but we live in HBD in the east. Daily commute is 1 to 1.5 hours by car (peak period traffic) and/or bus/mrt. Conisdering to shift nearer. What is the best option?

1) Buy pte and rent out fully paid HDB?
2) Exchange HDB for HDB and after 2.5 years, pick up pte for rental?

Consideration:

1) If buy pte, would prefer to keep HDB for rental
2) Hence budget for pte is less than $1 million (which is quite impossible at this time for anything near BT)
3) Used to big spaces, current HDB is 142 sq m (exec apt)
4) Prefers walking distance to mrt so can save time on bus transfer
5) Requires ready property since need is immediate
6) If exchange HDB, prefers to stick to exec apt or exec masionette
7) Not many HDB in BT
8) Need not be in BT, any place (HDB or pte) that is connectable by MRT (current or future) within 15 mins (by rail) is acceptable

Any comment/suggestion is welcome.
Happy CNY to all

Folks@PropTalk Folks@PropTalk
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Re: To buy PTE or HDB?

Hello Mr Ong,

Gong Xi Fa Chai!

The wife and I are not familiar with what's happening in the HDB resale market but you are probably right about having limited options in the private resale front, given your budget and the criterias that you have set.

Even for older private condos/apartments in Upp Thomson Road (those near to Circle Line) or Upp Bukit Timah area (near to upcoming Downtown Line), you are probably looking at anywhere between $750 - $850psf (minimum) at current time. So a 1,500+sqft unit will easily set you back about $1.2 million.

There is one other option that you may consider, if you have really set your mind on moving nearer to Chinese High/Nanyang Girls' School soon but cannot find anything appropriate that's within your budget: Rent an apartment nearer to the school and rent out your HDB. This may buy you some time while waiting for the market to "cool" further.

And even if the property market does not fall by as much as some analysts have predicted over the next 1 - 2 years, you still have your original HDB flat to fall back on...

Hope the above helps and good luck on your search!

 
Mr Ong Mr Ong
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Re: To buy PTE or HDB?

In reply to this post by Mr Ong
Thanks for your suggestion.
May consider that.