AskGuru Q&A Community

Afternoon,

This would depend on your preferred lifestyle. You have good sum of cash at hand. To purchase a EC or condo, you are eligible to take loan of around $850k to $1m. Without selling your HDB unit, you will be required to service the mortgage loan for an additional period of time but you can get passive income from your HDB unit.
By selling your HDB unit, you will need much lower mortgage loan, which will allow you to cruise through the repayment period.

It's your call. I can only advice and get the sensing from you.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
ERA Read More

Hi NeedHelp,

Go for your Option 3.

As your HDB already fully paid, the rental will be passive income. You can use this to pay for the monthly installment of your condo. In other means, use other people's money to pay for your next house.

Please feel free to drop me an email or call me directly for a non-obligation discussion, if you still have further questions. Alternatively, we can also meet up to discuss
at your convenient time and place.

Thank you & Best Regards
J.A.Goh
HP: 9639 0350 
ERA Senior Marketing Director
CEA Reg No. R025894Z
CEA License No. L3002382K
www.gohjaERA.myweb.sg
Email: gohja@singnet.com.sg Read More

Hi,

Can I help you?

Do contact me via Call/SMS/email.

Pls drop me your contact.

Best Regards,
Nick Xu
Division Director
Dennis Wee Group
Mobile : 94242859 
Email: Nick@dw365team.com Read More

Dear sir/madam,

All the options are viable judging from your description, however, to know the best option to suit your interest, it is important to know your various commitments as well. Do you need additional cash for your other expenditures or even after buying a condo without selling your existing HDB, you are pretty comfortable in your daily livelihood. Selling your HDB and buying a private property will likely free up additional cash for you to persue other interest or investment, with existing sentiments in the market that there will be a correction, but how true is this, no one will know for sure. We are currently expecting a great supply of units going to mature for occupation in the coming few years therefore this should also be part of your consideration to sell or rent out your HDB.

If you need further advise, I am just a phonecall/SMS/email away.

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