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Old 06-09-2013, 02:27 PM
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It's a pity that you still live in public housing. It is about time you upgrade your social standing. Sell away your flat, you can get at least $500k and you use this as downpayment. You can then get a 2 bedder for $1.1m (brand new recently TOP) condo. Take a loan of only $600k. You should be able to easily finance your loan given your combined $250k income.
Make sure the condo is near an MRT station (10-15 min walking distance).

Quote:
Originally Posted by Unregistered View Post
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.
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