Quote:
Originally Posted by Unregistered
I earn $4k pm, my wife earns $5k pm. We have sold our flat and plan to buy a resale condo. Got profit of about $200k. My agent tells me now is a good time to upgrade. I can use the profit and my cash savings as downpayment for a condo. With the new cooling measures, we will look for a 2 bed room condo which cost less than $1m. We are looking at condos which have just TOP so that we can move immediately. Any suggestions? Must look beautiful and near MRT station. We don't drive. |
Agent will always tell you it's a good time to sell/buy. Otherwise, where is their commission going to come from?
Frankly speaking, now is a good time to sell, not buy. So it benefits those with more than 1 property.
Never ever play with the only property that you have. Should anything happens, like bank calls for margin, either one of you lost the job etc, the condo is going to be a burden to you. 1k every month in cash to service the loan now seemed comfortable, but in the event of unforeseen circumstances, 1k will be a lot.
My wife and I earns about 200 - 250k and we are living in a 4 room flat.