Asked by Anonymous
What would be out best option in our home progression?
Background as follow:
Current Property: EC Condo, MOP in less than 12 months. Based on current market asking price and netting off existing loan, approx S$600k.
Couple combined monthly income: ~17-20k range (before bonus)
Couple age group: 30-35 range
Family size: 4 members + 1 maid
Option 1: Sell existing EC Condo, upgrade to Private Condo (ideally bigger in size to accommodate family) or Leasehold Terrace (budget size around S$1.6 to S$1.9m, around 7x annual comps after factoring in bonus)
Option 2: Decouple and keep existing EC, buy 1 additional condo for rent.
Option 3: Sell existing Condo, buy 2 smaller condos under a decoupled approach for rental income. Concurrently rent a place for family use.
Based on the above, what would be the best option and is there other options we can consider?
Background as follow:
Current Property: EC Condo, MOP in less than 12 months. Based on current market asking price and netting off existing loan, approx S$600k.
Couple combined monthly income: ~17-20k range (before bonus)
Couple age group: 30-35 range
Family size: 4 members + 1 maid
Option 1: Sell existing EC Condo, upgrade to Private Condo (ideally bigger in size to accommodate family) or Leasehold Terrace (budget size around S$1.6 to S$1.9m, around 7x annual comps after factoring in bonus)
Option 2: Decouple and keep existing EC, buy 1 additional condo for rent.
Option 3: Sell existing Condo, buy 2 smaller condos under a decoupled approach for rental income. Concurrently rent a place for family use.
Based on the above, what would be the best option and is there other options we can consider?
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