My retired mom and dad wish to sell our 5A HDB flat (old model) in Jurong West. We purchased it for $330k and the last resale price was around $470k. My eldest sister will be moving into her BTO and it would be our temporary home while we find a new one.
I will be graduating in 2014 and my expected salary is $4,000. I do not intend to get married in the next 5 years. I was wondering which of the following options are wise:
1) Sell the flat, pay 20% cash downpayment for a condo and I will take up the mortgage loan.
2) Sell the flat, buy another flat as a family nucleus
3) Sell the flat, my parents buy a studio apartment and I will live somewhere else (least desirable option)
I'm aware of all the costs involved including the ABSD, etc, and I intend to make this investment decision myself. My objectives are to let my parents experience a bit of luxury, and also to invest in a private home for my future family.
I hope someone can give some colour on this. Many thanks.
I will be graduating in 2014 and my expected salary is $4,000. I do not intend to get married in the next 5 years. I was wondering which of the following options are wise:
1) Sell the flat, pay 20% cash downpayment for a condo and I will take up the mortgage loan.
2) Sell the flat, buy another flat as a family nucleus
3) Sell the flat, my parents buy a studio apartment and I will live somewhere else (least desirable option)
I'm aware of all the costs involved including the ABSD, etc, and I intend to make this investment decision myself. My objectives are to let my parents experience a bit of luxury, and also to invest in a private home for my future family.
I hope someone can give some colour on this. Many thanks.
Asked by Ashley
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