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Hi,am staying at an EC is the west which I bought for $465K after grant.Looking at Livia now as a 2nd property.Can anyone advise if it make more economical sense to sell of my existing unit in Dec(end of MOP)and use all the proceeds to finance my new home or keep my existing unit for rental as I am able to fork out the 40% downpayment for my 2nd private home thou.Existing still owe the bank about 230K thou.
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3 Answers

Evening Jayvier,

As for this particular question, it would be better for us to discuss in more details.
Topics would include your short and long term plans, plus your current financial status.

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

Mike Lim
 96929209 
ERA Read More
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Dear Jayvier,

If you have the means to finance the loan of both house at the same time, why not hold onto the EC which has the possibility to be priviatised.

Meanwhile, you can collect rental from Livia (TOP soon)

You would like to work with someone who look after your interest and advice you accordingly

If you and I are able to discuss further, please let me know.

PS: I have a team working on Livia project

Thanks.
Choo Jia Ming
B. Hons (EEE)
Savills Sales Director
HP: 9476 2732 
Email: jiaming.choo10@gmail.com
CEA Salesperson reg. no: R026370F Read More
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  • WJ
    Hi guys,

    Thanks for the reply.basically I am looking at renting out my existing condo and staying in Livia.will contact you guys if I have firm up my plans.
Hi Jayvier,

In your present situation, it will be better if you can understand more on how making a purchase without selling your existing unit will affect your cashflow. If you feel comfortable in managing the monthly payments for 2 units, it will definitely be good if you can keep your existing property for rental income as you've mentioned. Nevertheless, do bear in mind that should there be a lapse in rental for sometime, how comfortable are you to service the loan without the rental income. Of course, as an agent, I'll say that I'll do my best to assist you to have your unit tenanted with mjnimal vacancy but that is a point you'll need to consider.

Should you need further assistance, feel free to contact me.

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