BTO, EC or Resale

Getting your first property will probably be the biggest purchase in one’s lifetime.

We previously touched on the topic of understanding the financial aspect of getting a property.

We also compared the difference between getting a BTO and a resale flat.

In this article, we zoom in to the payment side of things on some experts’ opinion on wiping your CPF, just to get your first home.

Buying one’s own home is one of the most monumental moments in anyone’s life. While Singapore’s HDB has kept housing prices relatively affordable compared to other urban areas around the world, it’s still very difficult for most people to shell out tens of thousands dollars (if not hundreds of thousands) to acquire their residences. Given this, many have turned to drawing on their CPF accounts to help finance their home purchases. However, this is actually an economically unsound …