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Old 31-03-2014, 07:48 PM
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Hi gurus,

We need your advice regarding our plan to upgrade. My wife and I are both 40. We have a combined monthly income of $10k a month or $120k pa. We now live in a 5 room HDB flat which is fully paid up and valued at $600k.

We are thinking of selling our flat at $600k and use the cash for downpayment for a $1.2m condo. We then take a 25 years loan of $600k.

Since we both take public transport to work, we don't spend much on transport, so we feel we can afford the monthly payments of about $2400 (24% of our monthly income). We will use our CPF and cash for the monthly payments.

Is this advisable? Thank you.


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