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Dear Gurus, I have recently sold my EC and planning to get a 3bdrm unit at Casa merah. I need some expertise opinion as to how should I utilize the cash proceed $350k and 300k cpf in hand taking into consideration of current property mkt:-

1. Loan 80% for Casa merah unit and purchase a 1bedder FH unit at City Loft @ farrer pk with 60% loan;

2. Simply pump all proceed in Casa merah?

Am worried if I am unable to lease out the 1bedder, then might run into a situation of servicing both mortgage loans.

Thanks in advance
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1 Answer

Geryl Lim
Replied
Dear sir/madam,

I believe the utmost importance issue for you will be first to secure a purchase for your own accomodation. Leave the seconday investment out of your mind and take up a 80% loan for this purchase first such that the 2nd option will still be viable to you if you decided to go ahead.

Upon settling your accomodation, do some homework on the market situation before embarking on your investment purchase. Since it is your investment purchase, I am sure that if the unit is ideal in terms of the rental prospects as well as appreciation, it should not matter to greatly if there is no available units at your preferred choice of City Loft. Otherwise, you may make use of the additional cash for other forms of investments to make up the "additional" interest you need to cover for taking a 80% loan.

Do let me know I may assist you further.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More
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