Is it worth buying an apartment in Biên Hòa with 150 million VND in savings?

I am 35 years old, working as a purchasing manager for a textile company in Ho Chi Minh City. My family consists of me, my wife, and our 3-year-old son, who is currently staying at a small daycare group. I’m originally from Quang Nam, while my wife is from Bien Hoa, Dong Nai. We are currently renting a room in Tang Nhon Phu B Ward, District 9, less than 5 km from my workplace.

The rented room is 20 square meters with a mezzanine. When we first got married, the simple living conditions didn’t bother us. However, since having a child, we’ve had to consider creating more space for him, carefully securing household items to ensure his safety, and wrapping furniture edges. Anyone with young children will understand how inconvenient it is to live in a rented room with only one space. On top of that, my wife is now pregnant with our second child and wants to move closer to her parents in Bien Hoa for better support with childcare.

Choosing a place to settle that aligns with income is always a top concern for young families who have not yet accumulated significant financial savings.

Considering our income, prices, and the need for comfort, I decided to explore apartment projects in the surrounding areas. However, we haven’t found a satisfactory option yet, mainly because property prices in East Saigon have skyrocketed in recent years. With our combined monthly income of nearly 20 million VND, after deducting rent (around 4 million VND) and other living expenses, we can only borrow a few hundred million VND from the bank. Adding our savings of about 150 million VND accumulated over the years, buying an apartment in areas like District 9, Thu Duc, or Go Vap seems almost impossible.

Real estate agents have told me that many people are looking for affordable apartments like ours, but supply is limited. To own an apartment in a central location with convenient access and amenities, you have to pay a high price; otherwise, you’ll need to consider more affordable options further out in the suburbs.

One mid-range project they introduced to me was Samsora Riverside in Bien Hoa, Dong Nai, priced at about 700 million VND per unit. With a down payment of just 140 million VND, I could buy a 50m² two-bedroom apartment. The remaining amount can be financed through ACB Bank, with a loan term of up to 20 years. Instead of paying nearly 5 million VND each month for rent, utilities, and internet, I would just need to stretch our budget slightly to pay 5-6 million VND per month for our own home.

They also highlighted the project’s amenities. Although located near the border of Ho Chi Minh City, the area is well-planned, with all facilities in place. The buildings face the river, offering a cool climate and large green spaces, including an internal park with lush trees and landscaping, suitable for outdoor activities. Within the development, there’s a supermarket, a swimming pool, a gym, and an international-standard daycare center—amenities we’ve never experienced while renting. Even if we were to buy a house, we wouldn’t likely have access to such services nearby. Most importantly, I want my children to have a decent place to learn and grow.

The model apartment at Samsora Riverside (Bien Hoa, Dong Nai) is fully equipped with modern amenities and offers a spacious, airy living space.

t sounds like you're in a difficult position with lots of factors to consider. Based on what you've mentioned, the 700 million VND price point for a 2-bedroom apartment at Samsora Riverside seems like an affordable option, especially with your current budget of 150 million VND. The fact that it’s in the vicinity of your workplace and your wife’s home is certainly an advantage, making commuting easier for your family.

However, the distance from the city center and potential job flexibility in the future could be a downside. Being located in a suburban area can save money but may limit your options if you decide to move closer to work or if you want access to a wider range of services or opportunities.

Here are some things to consider before making the decision:

1. Work Flexibility: If you plan on staying in the area for the foreseeable future, the location seems practical. But if you're considering other career options in the future, factor in the commute times and transportation costs. You’ll want to ensure your family won’t be too inconvenienced if you need to relocate closer to work later on.

2. Long-term Value: Suburban areas can offer lower property prices, but they may also face slower appreciation compared to central locations. It’s essential to assess whether the area will develop more over the years or if it may remain relatively isolated from future growth.

3. Living Conditions & Amenities: The amenities offered at Samsora Riverside are attractive and could enhance your lifestyle significantly, especially compared to renting. The proximity to green spaces, a pool, gym, supermarket, and international-standard daycare could make living there more comfortable for your family.

4. Future Financial Situation: Your current financial situation and income should be factored into your ability to manage the monthly payments. Ensure the repayment amount is comfortable within your budget after accounting for all living expenses.

In conclusion, if your priority is creating stability for your family now and in the short term, this could be a good choice. However, make sure to evaluate your long-term career goals and potential future moves before committing fully. If you believe that the trade-off between location and affordability aligns with your current priorities, this could be a good opportunity to take advantage of lower housing prices while still providing your family with better living conditions.