Applause to you for these detailed plannings especially for your parents.
Given that you prefer to allow your parents expereince a bit of luxury, it is more applicable to purchase a condo for them. Nevertheless, since you have mentioned that you will only be graduating in 2014, I am assuming that you are currently not having any regular income to assist in servicing the loan for purchase. As such, it will be important to get the bankers to assist in doing the financial assessment for your household to see what are the feasible options financially, since your parents are already retired. With a monthly income of $4k, and only 30% of your income is taken into consideration for servicing of home loan, your options of condo may not be viable.
Unless there is a need to sell off soon, you may wish to hold back the decision in anything until the coast is clearer. This requires careful planning since it is going to affect the lifestyle long term.
Senior District Manager/Real Estate Consultant
CEA Reg R014783H
ECG Property Pte Ltd (L3009759F)
Dynamic Alliance Group @ www.DAG.com.sg
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