House woes
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My 4rooms BTO is 14yrs this year and the valuation is slightly higher than double now.
My hb and I have thought of moving to an EA (executive apartment) but friends around encouraged us to get a condo, sell it off for a few years to earn. Our initial plan of simply moving to a bigger space is kinda wavering right now. We never had plans to purchase a condo at all but the thought earning from the sale of condo is pretty tempting.
My questions are:
1. Are we losing out a lot if we don’t buy a condo?
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2. Both of us are 44, are we too old to get the condo?
Thanks!=)
Here are what netizens think:
- First a condo will never be bigger then your current HDB because you wanted a bigger. a EA will be a much better option for you. You will be paying much more maintenance fee living in a condo which a lot of time you won’t be using it. Your friend is speculating in a condo while you are looking to stay in the long term.
- I am 44. I am a property agent. Everyone told me this and that. Sell this buy that. From peers to families, everyone has an idea. I can only tell you, do your calculations, ask yourself what you really want and whether this decision will bring you to a better position and then act on it. No one can tell you what is good for your life. Good luck and blessings be with your family.
- I sold my condo to purchase an EA apartment. Condos are only for short term tenure due to limited space. Over the long run, you’ll realise it’s a misery to stay in condo unless you use the facilities daily, 2 or more vehicles and same clique of neighbours.
- Condos can go up or go down esp since you are buying post a 50% in a few years. Do things within your means. From your wiring, you don’t have a scooby about investments or risk/reward, usually end up being the sucker buyer.
- i will tell you to live within your means. If you think you both can well afford it, even if one of you lose your job, then why not? You did not mention other commitments, so i guessed u have no kids? You need to make sure you factored in other responsibilities and commitments too. It is not a simple one house change another house story. Do your sums. Best not to look for trouble, when trouble is not looking for you.