Asked by Anonymous
What are possible gains and risks in each option? Wife and I are in our early 40s, have a teenage son, combined income of $15k. Each of us has CPF OA $230k, SA: $180k. There’s a $700k outstanding loan on the condo (bought new in 2012), which we use our CPF OA to pay for monthly.
Option 1 might not be feasible. You can only buy a resale HDB, but that you'll have to sell your condo within 6months. To buy a new HDB (or executive condo) you'll need a waiting period of 30months after selling your private property before able to buy. Even after that your income levels are too high.
I might want to ask what would be your goal here?