Need everybody's advice and shared experience on buying property, especially HDB flat in Singapore.
As Singapore PR, I have a dillema in buying a HDB flat.
Which one better? Buying a flat at a pretty aging building (15 years+) or something considerably new around 5 - 6 years.
The old flat will have lower valuation price; therefore it definitely will be better in term of mortgage, agency fee, admin fee as well as the first installment (at 10% according to the new rule). Furthermore, the old flat mostlikely is having bigger space as well.
However, on the other hand, there always be the fear that the building will be undergoing some major upgrading (e.g: lift upgrading, balcony etc etc) which eventually will cost a bomb. As a SPR, we will not entitle to some government grant pertaining to those upgrading activities; thus eventually we have to pay much much higher than the local Singaporeans. Not to mention if HDB decided to demolish the building. The rumor said HDB will indemnify slightly lower than valuation price.
Having said that, what would forum think (or probably some of forumers have valid experiences) about the case? Is it worth to pay more but having peaceful future? What happen to SPR if HDB decided to take back the flat?
Ay thoughts would certainly be welcome. Thanks in advance.