Asked by Bac
Hello,
I have an existing resale EA in Choa Chu Kang (opp MRT) with an outstanding loan of $228k. I have also recently bought a private property at a prime district, which will TOP next year. Should I sell my resale flat or rent it out ?
Note that I still have an existing loan for my flat as well as the private property, and if I sell my flat , I will have to return the CPF accrued interest as well, which means I may have to top up 20-50k in cash back to my CPF OA account as the selling price of CCK flat is at most 630k for that location.
If I rent it out, I am still having to pay loan and interest to the bank for the flat.
Any advise if I should rent or sell ? If I sell, I can get back 400k into my cpf and use that to redeem the other private property's loan or let it sit to earn interest in CPF. Both interest rates for the flat and private property are about the same.
I have an existing resale EA in Choa Chu Kang (opp MRT) with an outstanding loan of $228k. I have also recently bought a private property at a prime district, which will TOP next year. Should I sell my resale flat or rent it out ?
Note that I still have an existing loan for my flat as well as the private property, and if I sell my flat , I will have to return the CPF accrued interest as well, which means I may have to top up 20-50k in cash back to my CPF OA account as the selling price of CCK flat is at most 630k for that location.
If I rent it out, I am still having to pay loan and interest to the bank for the flat.
Any advise if I should rent or sell ? If I sell, I can get back 400k into my cpf and use that to redeem the other private property's loan or let it sit to earn interest in CPF. Both interest rates for the flat and private property are about the same.
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