Property investment If husband and I had a combine income of $11k, is it wise to purchase an EC or condo for stay/investment? 2 bedder. We currently own a 5rm HDB flat and intend to sell to upgrade.

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After reading so much sharing from the rest, I believe u would have realised by now buying property is a huge financial decision to make. Thus, I strongly suggest that u should decide firmly if the intent is to stay or to invest. Either intent has their own unique factors to consider. Stay : Space - 5room hdb to 2 bedder Ec high likely result in downsizing unless u can find those 2 bedder old condo which are much bigger. Design - I haven't seen any beautiful ECs around; it's all the similar design that position two blocks facing each other with a pool in between. I have more luck finding better looking condos but the prices are not so good looking. Facilities - newer properties usually have more modern facilities (think of that new sheltered BBQ area with fridge, gas stove Vs the old BBQ area that's actually just a old charcoal BBQ pit) but then also likely higher asking price & management fees. Invest : i personally feel that if u are staying in this property, it shouldn't be considered as investment unless u can afford to sell without buying another property to stay (like staying with your parents). Because today u buy a 2 bedder & sell 10 years later. Your property value may have increased but when u look around to find another 2 bedder to stay, u will realise their asking price is also expensive. To take profit from your "investment", you will have to buy a cheaper place like maybe a 2 bedder from a much older condo/more ulu location or 'downgrade' back to HDB which by then won't be cheap too. So there's every chance that u end up back in a 5room HDB later with not as much profit as u expected from the start.

In short, do not monkey see monkey do (because monkey die we die) and do Ur due diligence with ROI. Ur ROI will also need to take into consideration the bank interests paid, management fees throughout the years and the opportunity cost of using the money in other investment vehicles.

The decision to purchase an Executive Condominium (EC) or a condominium for both stay and investment depends on various factors, and it's crucial to consider your financial situation and long-term goals. Here are some points to contemplate:

1. Financial Stability: Ensure that you have a stable financial foundation with an emergency fund in place. Additionally, assess your debt levels, including any outstanding loans and the potential mortgage for the EC or condo.

2. Property Goals: Clarify your objectives for the new property. Are you primarily looking for a larger and more comfortable home for your family, or is it an investment to generate rental income and potential capital appreciation?

3. Rental Yield: Consider the rental yield potential of the EC or condo. Research the rental market in your desired location and analyze whether the rental income can cover the mortgage and other associated costs.

4. Capital Appreciation: Evaluate the potential for capital appreciation in the chosen property. Location plays a significant role in property appreciation, so assess the growth prospects of the area.

5. Additional Costs: Keep in mind the additional costs associated with property ownership, such as property taxes, maintenance fees, insurance, and any renovation or furnishing expenses.

6. Mortgage Affordability: Calculate whether the mortgage payments for the new property are comfortably within your combined income of $11k. Ensure that you have a buffer for unexpected expenses.

7. Loan Eligibility: Check your loan eligibility, as it depends on your financial profile, including income, credit history, and existing debts.

8. Risk Tolerance: Understand your risk tolerance. Property investments carry risks, and property markets can fluctuate. Be prepared for potential downturns.

9. Future Plans: Consider your long-term plans. How does this property purchase fit into your overall financial goals, such as retirement planning?

10. Consult a Financial Advisor: Given your specific financial situation, it's advisable to consult a financial advisor who can provide personalized advice and help you create a comprehensive financial plan that aligns with your goals.

Ultimately, the decision should align with your financial capacity, investment objectives, and risk tolerance. It's a significant financial commitment, so conducting thorough research and seeking professional guidance is essential to make an informed choice.