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I'm now aged 51 yrs old and my husband 57 yrs old. We are now staying in a EC (fully paid) and thought of buying another pte condo for investment, so that by the time we retire, we will have some allowance (thru' rental) for our old age. Do you think is this the right time to buy the property and are we too old to go for such investment? We don't have much saving now, my CPF left with only $50K while my husband has only 18k and ready cash about $100k.
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1 Answer

Mike Lim
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Evening Iris,

It would not be advisable for you to purchase another unit, as most bank will not be able to grant you a good loan quantum.
You can try to rent out your room for extra allowance.

FYI.

Mike Lim
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    Thank you so much for all the advise. If we'll to rent out our EC, then where should we stay, we're not allowed to buy HDB now, the only way is to rent another house from elsewhere which we found it very cumbersome as we have lots of things.

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