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Hi currently we own a 5 room HDB in sembawang, it's a 6 or 7 years flat, high floor which we only paid 200+k for it. But we are now staying in a rented unit in Jurong and at the same time rented out our Sembawang unit. We are holding on to the Sembawang unit because we'll be able to clear the HDB loan in 1 or 2 years time. By then we can save up for a condo in Jurong area. So that in future we can stay in Jurong condo and rent out Sembawang HDB. But I received many advices from friends that I should just give up our Sembawang HDB and buy another HDB or condo in Jurong. Our ultimate goal is to aim for 2 property. We thught holding on to our Sembawang unit will allow us to reach our goal earlier. Did we make the right choice? Oh ya, we are in our early 30s.
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1 Answer

Mike Lim
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Morning Bluegal,

Firstly, you are renting out your unit for income and yet renting another unit. I believe it's due to work convenience or requirement. Thus it's not considered as passive income now.
As you have purchased your unit at relatively low price, it's good to hold on and work on your second property. Even if you sell it now, you need to buy another HDB unit and you need to rework your math. The only perks for selling now is you can use the additional cash for other liquidity investment while waiting for MOP (on the possible upcoming HDB purchase)
It's your lifestyle and you know your financial status better. I can't really advice much till I get to understand deeper.

Regards
Mike Lim
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