If I were in your shoes, I would have gone for an EC since your income is still within the $12k limit. ECs are there to help
HDB upgraders aspiring to own condos.
Anyway, dont you think it is way too late to ask whether you are doing the right thing when you have already done it?
Weird way of thinking.
I am not so concern about the $750K loan for 2 reasons. 1) the collateral is the condo, and 2) the loan rate is very very low - less than 1.2% I suppose?
And you are both still young, so there's lots of upside in your pay.
Quote:
Originally Posted by Unregistered
40/41 married couple with 2 kids. Combined salaries, $150k pa.
Sold our BTO flat, use profits to buy a brand new car (paid in full) and downpayment for a 5 year old condo in the East. Condo now worth $1m, loan $750k. CPF and cash, $400k. Our kids love the condo as they get to swim in the pool.
Are we doing ok financially? Are we doing the right thing?
Any advice from the gurus here? |