Singapore Expats Forum

Buy a house or wait for citizenship outcome?

Relocating, travelling or planning to make Singapore home? Discuss the criterias, passes or visa that is required.

What do you think we should do?

Pay ABSD and purchase "dream home" now (loss of 50k)
1
50%
Rent indefinitely until citizenship outcome (loss of 3.7k/month, plus 50k in case of -ve outcome)
1
50%
Wait until end of June (as per IPA timeline), extend lease by 2 months, and then search again (loss of 3.7k x 2, plus 50k in case of -ve outcome)
0
No votes
 
Total votes: 2

bentobox
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Buy a house or wait for citizenship outcome?

Postby bentobox » Tue, 02 May 2017 11:58 am

We are a couple of Indian origin with two baby daughters, PR since 2013 (we got PR within short time of applying probably because we volunteer heavily). Submitted documents for citizenship in June 2016. We were informed that we should check back for the outcome "sometime after June 2017", which is a very vague timeline. Last week, we received an email from an ICA officer requesting for an appendix authorization form for financial information verification.

Meanwhile, we were finalizing on a home purchase. The timing is right since our rental lease ends in August, and it takes about 4 months for transfer of home ownership. We have very specific criteria, and it is hard (not impossible) to find a property match. The property we are interested in is priced right, and so it will not be available if we wait any longer. But the general prediction is that property prices will continue to decline until end of 2018.

Due to the email from ICA, I have gotten hopeful of an outcome (+ve or -ve) on citizenship soon, and in case of a +ve result, we can save on the 5% ABSD. Husband wants to proceed with home purchase regardless, since he says there is no point in paying rent for an indefinite period of time until ICA gets back.

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Barnsley
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Re: Buy a house or wait for citizenship outcome?

Postby Barnsley » Tue, 02 May 2017 2:20 pm

bentobox wrote:We are a couple of Indian origin with two baby daughters, PR since 2013 (we got PR within short time of applying probably because we volunteer heavily). Submitted documents for citizenship in June 2016. We were informed that we should check back for the outcome "sometime after June 2017", which is a very vague timeline. Last week, we received an email from an ICA officer requesting for an appendix authorization form for financial information verification.

Meanwhile, we were finalizing on a home purchase. The timing is right since our rental lease ends in August, and it takes about 4 months for transfer of home ownership. We have very specific criteria, and it is hard (not impossible) to find a property match. The property we are interested in is priced right, and so it will not be available if we wait any longer. But the general prediction is that property prices will continue to decline until end of 2018.

Due to the email from ICA, I have gotten hopeful of an outcome (+ve or -ve) on citizenship soon, and in case of a +ve result, we can save on the 5% ABSD. Husband wants to proceed with home purchase regardless, since he says there is no point in paying rent for an indefinite period of time until ICA gets back.


Was your reasoning to get citizenship based solely on you saving on the ABSD???

If so , very Singaporean of you :mrgreen: :mrgreen: :mrgreen:
Life is short, paddle harder!!

singaporeflyer
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Re: Buy a house or wait for citizenship outcome?

Postby singaporeflyer » Tue, 02 May 2017 2:54 pm

bentobox wrote:We are a couple of Indian origin with two baby daughters, PR since 2013 (we got PR within short time of applying probably because we volunteer heavily).


I don't think this is the reason why you got PR earlier

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PNGMK
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Re: Buy a house or wait for citizenship outcome?

Postby PNGMK » Tue, 02 May 2017 3:45 pm

FFS
I have gay, black, Asian friends and then JR8.

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ecureilx
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Re: Buy a house or wait for citizenship outcome?

Postby ecureilx » Thu, 04 May 2017 9:30 pm

singaporeflyer wrote:
bentobox wrote:We are a couple of Indian origin with two baby daughters, PR since 2013 (we got PR within short time of applying probably because we volunteer heavily).


I don't think this is the reason why you got PR earlier

Most likely they donated lot of blood :D


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