Asked by Anonymous
Hi Pro,
Both of my wife and me are PR (Malaysian). We stay in JB, thinking to invest in small condo in SG. Here is the scenario:
1. Our combined ordinary account has 60k, increasing 40k/year, so we will have 80k this year end and 120k next year end.
2. Currently we use most of our salary to repay my JB homeloan(4.45% interest), if we just pay the minimum amount, we have have SGD2500/month to spare.
3. Cash in hand, around 30k
Question,
1. Are we in a position to invest in small condo, maybe next year end?
2. If I plan to invest in a 600k condo, how much cpf and cash do we need to prepare?
3. If the rental from the condo is sufficient to pay for the installment?
4. How easy is the rent out a small condo? How much is the processing cost (agent fee, and any other fees?)
Thanks in advance for your kind input!
Both of my wife and me are PR (Malaysian). We stay in JB, thinking to invest in small condo in SG. Here is the scenario:
1. Our combined ordinary account has 60k, increasing 40k/year, so we will have 80k this year end and 120k next year end.
2. Currently we use most of our salary to repay my JB homeloan(4.45% interest), if we just pay the minimum amount, we have have SGD2500/month to spare.
3. Cash in hand, around 30k
Question,
1. Are we in a position to invest in small condo, maybe next year end?
2. If I plan to invest in a 600k condo, how much cpf and cash do we need to prepare?
3. If the rental from the condo is sufficient to pay for the installment?
4. How easy is the rent out a small condo? How much is the processing cost (agent fee, and any other fees?)
Thanks in advance for your kind input!
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