AskGuru Q&A Community

Hi David,

Amid the uncertain economic situation especially the real estate market, are you comfortable into putting another sum of money into private property?

Are you comfortable in your current place or are looking to upgrade to bigger space? Many buyers are holding off purchasing condo due to the anticipated supply a few years down the road. What is your opinion?

My advise is, if you are looking for own stay, comfort is the most important thing to look out for. To purchase a 2nd property, as you have mentioned, you have limited funds on hand, but would it be better if you can approach a banker to assess your financial commitment before deciding which option to go?

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

Morning David,

As per your statement, you are not able to utilize your CPF monies due to the minimum sum requirement. Hence with $100k cask at hand, after including legal and stamp fee, you can only afford to purchase private property at $260k? Hence your third option is out.

As for the first and second option, that would depend on your preferred lifestyle. Would you like to have minimum or zero mortgage loan or you don't mind working another 10 to 15 years to service a mortgage loan? Would you prefer staying in condo or in the familiar neighborhood? Are you looking at bigger sized units, without hurting your liquidity?

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
ERA Read More

Hi David,

Whatever your options are, it would depend on your intention. Is your intention on capital gains or rentail yield?

Would you be interested to have a condo living enviroment?

Which of the options are you more inclined to?

I understand that there are quite a fair bit of questions floating around in your mind.

If you do not mind, why dont we meet up for a short discussion with your wife to address all of your concerns?

If time do not permit, you can just give me a phone call at 9386-0900  and we can have a discussion on what would be best for your family needs.

Waiting to hear from you.

Kelvin Ng
Orangetee.com Pte Ltd.
 9386-0900 
kelvin.ngcj@orangetee.com Read More