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Old 06-11-2018, 08:19 AM
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Originally Posted by tchen003 View Post
I am a 26 year guy who has been working for 2 years after uni. I bought a small condo early this year (parents help+my saving) and currently paying mortgage on my own.

I am planning to move out this condo in 6 year time (year 2024). Reason is: I may have a family (with kid) at that time. A small condo may not be enough.

In order to buy a bigger place, I cant buy BTO or first-hand EC because HDB authoity request applicant no owning priate property or property trading within the last 30 month.

Some options in my mind that need your advice:

Option 1: we (me and future wife) buy a bigger condo under wife name without selling this small condo.

Option 2: sell this condo and buy a bigger resale HDB. Any money left invest into stock,bond, REIT, etc to generate a 4-6% annual return.

Option 3: sell this condo and buy a bigger resale condo.

My personal view:
Option 1 is good. We could own 2 properties with low stamp duty tax. Whats more we could use small condo to rent. However, we may not have enough saving for the heavy downpayment without selling small condo (estimate 500k sgd at least)

Option 2: imagine I sell this condo at 900k sgd and pay the remaining mortage of 500k sgd. i could have 400k spare cash(I paid my mortage using cash). Using 100k for HDB, remaining 300k sgd go to investment. But hdb doesnít retain value.

Option 3: similar to option 2, but all 400k spare cash may need be used as downpayment. I donít favor this option personally.

What do you think?
I am in a similar situation as you. My condo will be ready in 3 years time.

My plan is to stay in this condo whether I get married or not by then. If any kids come along the way, I will get a bigger new condo.

There are other considerations you should consider to make the decision.

For me these include central location of the house and living near parents. I don't intend to own a car.

Dont be overly concerned about housing as marriage is not certain as of now. The govenment also makes constant housing or property policy changes. You can just make the decision when things are more firmed up.

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