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23yo bought 40yo HDB flat and worried.

Friday, August 18, 2017


I am currently 23years old & married. My husband and I purchased a resale flat last year.

Back then we did not read nor have knowledge about financial planning. 

We purchased what we want and our desired location...

Our resale flat is actually quite old. I think is 40 years old this year...

Many people called us stupid for buying resale flat instead of BTO ones. 

And since we didn't have proper financial planning, we exhausted our entire CPF to pay for the flat.

So, our CPF is 0 now. 

We also took a loan of 25 years...

I am beginning to learn how to invest and starting small. May I ask how can I actually do better in planning my finance? 

Thank you for taking your time to read my email. Hope to see your reply.

How do you start doing better in your finances? That is a very broad question. It is very difficult for me to answer with specifics. 

Here are a few blogs you might want to read:





There are many other relevant links in my blog. 

Go to the right sidebar of my blog and read those suggested especially those listed under "WEALTH CREATION".
If we to learn from mistakes, we will avoid them and make better decisions in future.

Don't beat ourselves up.

This reader has the right attitude. Gambatte!


Unknown said...

Don't know how old her husband is but come on, she's only 23 years old. Most 23 years old have Kosong in their CPF account as they are probably still studying while she was able to use part of her CPF for downpayment.

As long as she continues to work till 30-40+ and not aim to be a rich Tai Tai shaking legs at home, she should be able to afford another flat easily. Nothing much to worry about. Could also sell the current flat at a small loss to purchase a smaller/BTO flat if possible.

AK71 said...

Hi Janson,

I would consider applying for a BTO flat and selling this flat too.

Would have to fulfill the 5 years MOP first.

Kevin said...


Will the purchaser incur resale levy by applying for a BTO flat after selling the flat when the 5 years MOP is fulfilled?

AK71 said...

Hi Kevin,

I am unfamiliar with HDB rules but it might depend on whether they accepted any government grants or not in the purchase.

WTK said...

I guess that it's better to be late rather than never. Focus on things which one can have control. It's no point regretting on the past decision.


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