AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
Hi, currently we are living in a flat that costs around 400k. we still have to pay around 75 k to hdb. We have around 150k in cpf ordinary account and have used around 200k from cpf for the current flat. only able to invest around 40k in cash. Is it advisable for us to upgrade to a condo or bigger hdb flat now??? we would like to buy a condo somewhere in the east for around 900k. How big of a condo can we afford ???monthly mortgage??? and is it practical?? should we pay off the hdb and give it for rent and upgrade to a condo or just sell the hdb and upgrade to bigger hdb???
0 •
1219 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

Geryl Lim
Replied
Hi Mani John,

You have identified several options with regards to either upgrading or buying another property while keeping the current for rental. The key issue here is your comfortability to service the loan for either situation. Engage a professional banker to do a financial planning for you and understand the various situations you have identify before making a decision. It is important to feel comfortable about your next purchase as you do not want to stretch your cash too much and affect other probable expenses or investment which you may have.

Should you require assistance in talking to a banker or selling/buying/renting, feel free to contact me via email or mobile. Thanks.

Regards,
Geryl LIM
CEA Reg No R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions