Couple in our late 40s, earning a combined income of $100k pa. We are in the middle income group in Singapore. We bought our 4-room flat direct from
HDB, many years ago at a low price. Now, we have paid it up. We own a small car, just nice for our family of four. Our savings in
CPF OA and cash is $100k in total. We have no loans. No other assets.
Do you think we can afford to upgrade to an EC? We need to take a new mortgage if we upgrade. Or should we just be happy and stay put at our flat (currently worth $400k)?
Any advice? Thank you.