facebookShould we sell our HDB and get 1 small condo each or keep the HDB and incur ABSD for condo purchase? - Seedly

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Anonymous

09 Feb 2020

Property

Should we sell our HDB and get 1 small condo each or keep the HDB and incur ABSD for condo purchase?

We r 36, & 43 and have 2 kids. Combined income abt 16k. Current HDB is in town, age 17 years. O/S loan is 200+k, we want to pay up 2 years later but that will wipe out our CPF (113k total) and cash of about 70k. We left with 150k cash.

Should we get small new condo for all of us but keep the HDB? We want to leave legacy for the kids so thinking of owning 2 Pty. Buy 1 condo each can't get good ones either due to our salary.

Sell off the HDB (~660k) tp get 2 condo also limited due to our income.

Discussion (3)

What are your thoughts?

T

Tommy

09 Feb 2020

Level 3·Senior Associate Director at PropNex Realty

Its important to work out and understand your financial flow for these entire process because affordability and substainability of the next property are also key to long term profitability. Pm me to arrange for a meet up to assist you in advising the path for your property investment.

Can pm me if you would like to know more about the available options.

personally I sold my hdb last year looking for an upgrade... so have been through this thought processes. Happy to share more..

The cost of maintaining the mortage for two units would lead to a very high debt burden. In addition...

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