Asked by Anonymous
HI,
I am currently 43 years of age (income $6500 per month) and holds $600K in cash and both my partner and I have a combined CPF of $300K. We are considering of buying a 35 years old 5 room point block at new upper Changi road. I would like to gain advice from the professionals here on below questions on home purchase and investment:
1) Should we pay off the flat or take full loan from the bank and keep the cash for stocks (bluechips) / fixed deposit with local banks? We think it is great to have partial passive income through investments to help us pay the loan for the flat. Is this idea advisable? Is there anyone out there in the market doing this? Is this Common in singapore?
2) Based on the details provided, are we still eligible to take full loan? For example if the 5 room point block unit in new upper Changi road costs $700k
Thank you !
I am currently 43 years of age (income $6500 per month) and holds $600K in cash and both my partner and I have a combined CPF of $300K. We are considering of buying a 35 years old 5 room point block at new upper Changi road. I would like to gain advice from the professionals here on below questions on home purchase and investment:
1) Should we pay off the flat or take full loan from the bank and keep the cash for stocks (bluechips) / fixed deposit with local banks? We think it is great to have partial passive income through investments to help us pay the loan for the flat. Is this idea advisable? Is there anyone out there in the market doing this? Is this Common in singapore?
2) Based on the details provided, are we still eligible to take full loan? For example if the 5 room point block unit in new upper Changi road costs $700k
Thank you !
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