Whether you should renew the rental on your 4-room flat at Jalan Membina or sell it depends on several factors, including your financial goals, risk tolerance, and the specifics of your situation. Let's weigh the pros and cons of each option:
**Renewing the Rental:**
* **Pros:**
* **Steady Income:** Continues to provide rental income, which can help offset expenses or contribute to savings.
* **Flexibility:** You maintain flexibility as you await the completion of your 2-room flat.
* **Potential for appreciation:** If property values continue to rise, your flat's value may increase further.
* **Cons:**
* **Opportunity Cost:** You might miss out on potential gains from selling now in a rising market.
* **Tenant Management:** Dealing with tenants and property maintenance can be time-consuming.
* **Limited Control:** You have less control over the property while it's rented out.
**Selling the Flat:**
* **Pros:**
* **Capitalize on Market:** You can potentially sell at a good price in the current upward trend.
* **Free Up Capital:** The sale proceeds can be used for the new flat or other investments.
* **No Tenant Hassles:** You no longer have to manage tenants or worry about property maintenance.
* **Cons:**
* **Loss of Rental Income:** You lose the steady rental income.
* **Finding Alternative Accommodation:** You'll need to find another place to stay for two years until your new flat is ready.
* **Potential for Market Changes:** There's no guarantee that the market will continue to rise.
**Additional Considerations:**
* **Current Rental Yield:** Evaluate the rental yield you're getting from your 4-room flat. If it's low, selling might be more beneficial.
* **Financial Situation:** Assess your financial position and your ability to handle two properties (if you buy before selling).
* **Risk Tolerance:** Consider your comfort level with market fluctuations and potential price changes.
* **Emotional Attachment:** If you have strong emotional ties to the flat, it might influence your decision.
**Recommendation:**
Ultimately, the best decision depends on your individual priorities and financial goals.
* If you prioritize financial stability and steady income, renewing the rental might be a good option.
* If you're comfortable with some risk and want to capitalize on the market, selling might be more advantageous.
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
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"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
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(***) You can check out my reviews here:
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.
For buyers, I offer solutions for sourcing resale and new private homes at no charge.
I can connect you with reputable bankers for private housing loans free of charge and with no obligation.
I also have partners to assist with mortgage home insurance matters.
Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!
*** You can reach me at my Singapore mobile: (65) 98 56 92 55 or email me at Able.selling@gmail.com.
From: ABLE Toh- Your Property ASSISTANT : )
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”
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