Asked 2w ago
Hi, I am 35, single with around 630k cash savings. OA 210k. Do you think getting a resale hdb and investing the rest is better than getting a condo?
With all the job uncertainty at the moment, serving a condo mortgage in the event of a retrenchment is really no joke.
There is 3 options:
get a small resale hdb. Clear the mortgage ASAP. = Debt free
get a 4room. Rent out 2 bed-room tenant pay for your house. Take max loan tenure = positive cashflow.
Buy a condo after 3 yr (if property market is good). Capital gain. But you will be very busy looking for house and moving every x years.
Invest in stock market is better, is more liquid. Unless you are very savvy in using leverage & understand the rule & regulation, property investment may be difficult.
Do you need a house right now? If not, what about BTO? It's a discount.
Personally, I would go for HDB (or landed?) wherever possible.
I am extremely turned off by condo maintenance fees and those fabled meetings with neighbours to decide where to spend the funds on.