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Should I buy a 1 bedroom condo (freehold) ?
Im a single child age 28 staying with parents.
i plan to stay with my parents even when i am married therefore considering to buy a 1 bedroom condo (freehold) would it be a wise choice??
as i would inherit the HDB after my parents pass on, so was wondering would it be better to get a condo instead of a HDB.
plan is to rent out the 1 room Condo while staying with parents.
would wanna see more inputs from everybody here.
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Zac
27 Jan 2021
Noob at Idiots Invest
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Points for consideration:
Staying with parents as a married couple - not easy. You may eventually still choose to do so, but think long and hard about this. Discuss with your partner also.
Your parents' HDB the lease can outlast you? What's your gameplan when it ends?
Affordability of condo. You didn't provide much info, so I assume you have mapped out the finances necessary for purchase of a freehold condo (which, depending on your location, will invariably be more expensive than leasehold).
Inheritance of HDB. You cannot inherit a HDB whilst owning a private property. You will have to sell one or the other.
Hope this was helpful.