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Anonymous

03 Jan 2021

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Other than downpayment balance of 5% during key collection, are there any other payments required? Do people only set aside this amount and invest everything else while taking max loan tenure?

Our bto is $500k.

Already paid $25k downpayment.

Combined OA has $140k and we have $60k each in combined MA/SA.

Should we:
1a. Pay $25k and invest $115k.
1b. Pay $25k, set aside $20k each, invest what's left.
1c. Set aside/invest $20k each, pay what's left.

2a. Max loan tenure 25yrs.
2b. Loan tenure 20yrs.

My preference is 1a and 2a while my partner feel 1c and 2b as do not want to pay so much in overall interest.

We have not decided whether to sell after MOP. Is there a "best" option?

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Jiayee

03 Jan 2021

Salaryman at some company

I'm in the same boat as you and plan to do just that. The only other expense I can think of is the first month's installment and renovation + furnishing (but these aren't deducted from CPF).

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