AskGuru Q&A Community

Morning Harry,

It's in fact up to each and every individual.

If I am you and I am satisfied with my current lifestyle (assuming you are staying in either one of your properties), I will just buy another private condo for investment or own stay.

But if I am you and I want to own a landed property, I will work out my finances first, check with the bankers whether can I dont have to sell my two properties and able to continue to purchase a landed property.

In this way, I can live with my desired lifestyle and at the same time, receive passive income.

But you have to understand as currently you have outstanding housing loan, you are only able to loan up to 60% for your next property purchase. If you have no choice but have to sell off any of your properties due to finances tied up, I will say sell off condo first and really if no choice, HDB flat too.

Hope I have shared with your my opinion and views if I am in your shoes.

Feel free to contact me if you have any property needs.

Warmest Regards,
YT Tan
ECG Property
M: (+65) 9111 5171 
E: yt.lovelyhomes@gmail.com Read More

Hi Harry,

First of all, I'd grats you are in a very good financial status!

You may consider the following factors when you make your decision:

1) Th HDB will be a bonus cash income to you as you have fully paid. It is good to keep it, unless you need extra cash for your next investment;

2) The condo is still under loan, which will limit your next investment bank loan to 60% (if it is another residential property). However, if you keep it, it will generate cash for you also.

3) with your 500K at hand, you may consider an condo of 1.25M (if you keep your condo), or 2.5M (if you sell your condo, and I believe it will generate additional cash, which will enable you to get even better condo).

The choice is yours, I'd say either is not a bad choice. For less aggressive type, you make keep the condo, for more aggressive type, you make consider sell it to get a more luxirous property.

Welcome to contact me if you need further assistance and service. Thanks.

Robert Peng 9800 1968 
Robertpeng001@gmail.com
CEA reg No.: R042525J
Huttons Relationship Group Read More

Hi, from your description, I assume you are residing with your parents / in-laws (if you are married)? If so, and you are looking for good rental yields for passive income, leasehold is your best bet.

I have some good recommendations on hand for which your $500K is more than sufficient even with a 60% financing limit for your second mortgage. Do contact me below for a deeper discussion.

Best Regards,

Wee-Ling Chew (R045281I)
SRI5000 - Elite Division of SLP Realty (L3009793I)

M: (65) 9851-5470 
E: weeling.chew@gmail.com Read More