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Anonymous
How can I upgrade to a bigger property?
My current 4-room HDB BTO has reached its MOP, and I'm wondering how I can upgrade to a bigger property. I have around $100K bank loan left, but I can pay off the loan with my OA. The intent is to for capital gains. My combined household income is over the EC income ceiling, so I can't apply for this unfortunately. What are the options available to me for this?
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The most important is to look at the purpose of why the bigger property? Do you meant in terms of space or upgrade to a private property? And if you are comfortable with the new mortgage payments, what's your exit strategy?
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Then buy a large resale HDB that is bigger than your current place. Have to go for bad location with...
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Perhaps you may want to buy a resale executive apartment or masionette. (Space is importanr to me). And if you still keen to invest in private property, buy a smaller unit eg studio/2 bedder for rental.