Advertisement
Anonymous
Sell condominium at 55 (10 years time) to downgrade to hdb… wise?
Friend has a condo (1+1) 517sqft at d15 bought at $800k. He believes the unit location is very good (max 10 min walk to mrt n 5 min walk to supermarket coffee shop etc) and will be worth $900k in 10 yrs time.
He is 45 next year and looking to hold the unit till abt 55 to sell and downgrade to similar size but cheaper hdb.
This is so he can cash the balance and use it for retirement.
He is taking a loan of 380k for 20 years although he has full cash to pay but deploy it for better returns.
he is paying via cpf oa now.
do you think he has a good plan? Or any advise for him?
thanks 😀
24
Discussion (24)
Learn how to style your text
Reply
Save
Man of the Hour
06 Jan 2025
Man at Man of the Hour
Need to be neighbours with potentially low ses people lor
Reply
Save
First, is the 800k over value ?? 10years 900k also depends on demand and supply. Hard to predict .
Reply
Save
Hey! Your friend’s plan seems reasonable, but there are a few things to consider. The condo’s location is a strong point for resale, but predicting a $900k value in 10 years might be conservative given inflation and market changes.
Downgrading to an HDB to free up cash for retirement is a solid strategy, but he should estimate the future HDB price and factor in costs like resale levy and renovations. Also, relying heavily on CPF OA for the loan might leave him with less for retirement later.
Hope this helps! 😊
Reply
Save
Your friend's plan to sell his condo in 10 years and downgrade to an HDB to release cash for retirem...
Read 6 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Posts
Advertisement
Sounds alright only if the HDB was as good location as his current condo. Maybe just play by ear and see how things go.
Personally, I buy home to stay and not for investment.