Am I sitting on a HDB goldmine?
While I was reading the newspaper article yesterday - Sitting on a goldmine: Owners of HDB flats in coveted sites can profit from soaring prices, I was thinking how lucky I was to be awarded the “lottery” when I applied for my current unit. The area I am currently staying is not depicted in the infographic below posted by Straits Times. However, it might still be a coveted location.
In 2012, my wife and I applied for a 4-room flat in Boon Keng area. It was our first application. We were lucky to get a number allocated through the balloting system that allowed us to select a flat.
We are really happy with the location. We have a train station, wet market, food center, and even supermarkets. However, I felt we did spend a bit too much on the renovation. Another story, another time.
In a few years time, we will be crossing the minimum occupation period of 5 years. I am unsure if we are sitting (and sleeping) on a goldmine. Only time will tell when we can get a buyer willing to pay more than what we have paid.
The more important question next will be - Should I sell the place and upgrade to a condo? Something I have been contemplating for quite a while.