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Hi, We are selling our hdb for 500k, but currently not sure if we should buy HDB or condo? Ultimately we wish to have one HDB and one condo if possible...we are currently 34 years old, household income approximately 9k per month..below two options which need your advise.

i) buy a cheaper HDB so that it's fully paid for, then buy a condo 5 years later but by then we already 39 years old, can we still loan 80% of the housing loan if we shorten to 25 years loan.

ii) forget about two property, impossible to archive, directly buy condo?

Thanks All in advance.
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2 Answers

Geryl Lim
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Dear Bluegal,

Consider things one step at a time wherever possible such that you do not overstretch your finances just to service the loan for both properties.

Owning 2 properties as a dream is not impossible. We are unsure of what are the future regulations that may be implemented or abolished therefore it will still be too early to speak about 5 years later.

The issue would be why are you thinking about a 2nd property? Are you looking for rental returns as a form of passive income?

With the rising prices of properties in Singapore, there are many investors turning to neighbouring countries for their 2nd property.

I have personally visited our immediate neighbour up north last week to look at the various developments in Iskandar region, to find out information first hand why buyers are snapping up units there. With the policies in place by both governments, I must say that it is worth serious considerations for a 2nd home across the border 15minutes drive away from the immigration at only a fraction of the price as compared to Singapore for a freehold property against a leasehold one.

If you are keen to bring our discussion to a higher level, you are most welcome to give me a call or email.

Regards,

Geryl LIM
Real Estate Director
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Aaron Chong
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Hi Ms Bluegal

I would suggest that you speak to the bankers first and have a rough idea of the overall financial situation you be facing if you will to go for the 1st option. While the 2nd option will not be far stretching for your finances while you upgrade to a condo.

Pls feel free to let me know should you need the contacts of some of the bankers as well as further assistance. Cheers!

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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