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Old 23-04-2015, 07:41 PM
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48, $6500 pm
Wife, 49, $8000 pm
Home is a HDB flat worth $650k, paid up.
Car, 2 year old, paid up.

We plan to sell our flat first and once sold, we will buy a resale 3 bedroom condo (below 5 years old) costing the most $1.2m. We will use the sales proceeds of selling our flat plus $350k of our CPF and cash savings to pay $1m ($650k+$350k=$1m) and take a mortgage loan of $200k. We will use our CPF to pay for the monthly payments, which is not that much, relative to our income.

We hope to enjoy an upgrade in our lifestyle and social status after moving to a condo.
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