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Hi. My spouse & I currently own a 4rm HDB flat and are looking to upgrade to a private property. The HDB flat is not fully paid up but we have no problem with the 40% downpayment for a pte property. Would like an expert's opinion if we should hold on to the HDB flat and rent it out (we have met the MOP) or should we sell it at the current high price?
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1 Answer

Mike Lim
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Afternoon Mrs. C,

Being able to pay the 40% downpayment is the first step to look at.
Assuming that you got your private property and intend to rent out either unit to ease the monthly installment. However, you are unable to get tenant for 4 to 6 months, will that affect your monthly repayment ability? I would also assume that both of you are using CPF to service your mortgage loan. If one of you become jobless, how long can both of you last? Do you have other plans with the money at hand, after selling your HDB unit?

Work this out and you will know what lies ahead.

Regards
Mike Lim
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