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Monday, September 26, 2022
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FROM HDB TO CONDO, IS IT WORTH THE INVESTMENT

Is this viable for us to consider upgrading to 3BR new condo?
current: 7yr 4-rm hdb at sengkang, bought $330k
outstanding hdb loan: $150k till 2034
husband 38yo: income $13k monthly, current OA est. $100k, savings est. $120k
wife 34yo: income $5.4k monthly, current OA est. $55k, savings est. $100k
*both no car or other loan

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due to our family size, husband is considering 3BR FH condo if possible, but I am worried if we will have cashflow issue given the hefty pricetag, and will this seems like we are putting everything into this basket and paying through our nose?

Husband is thinking(old school) that FH condo is a safer bet as asset and investment tool given that we are both nuts on other investments.

Would greatly appreciate advices 🙂

Here are what netizens think:

  • If family size is the issues. I not sure if a 3BR condo is actually giving you more space 4 room HDB. Personally I don’t really think condo is always a good upgrade, a good resale 5 room HDB could give you better quality of life.
  • Go ahead with the purchased, no issue. Both of your finance status is healthy. Wish u get your dream home very soon.

Asset and investment tool? There are many other assets and investments that can give you better returns without locking up so much of your cash and paying thru the nose. Like you said, you know nuts about investing. Why do you think it’s a good idea to go into something that requires so much financial commitment? And property is generally a liability if you’re staying in it, not an income generating asset.

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