Should I sell my hdb after MOP?
My hdb has reached MOP. My wife and I make about 20k a month. Should we sell off our HDB and buy a condo/ landed?
Cannot decide if the investment is worth it. Now we have a lot of freedom with money and can easily pay off our entire HDB in less than 5 years (solely using cpf oa)
But property agents say it is a waste to keep our HDB.
Edit Both early thirties No kids No car No loans except housing loan
- of course property agents say it’s a waste. they want to help you sell and earn the commission…
hard to advise without knowing your background – kids? savings? how much outstanding loan u have? what kind of condo/landed as prices can range a lot…
- Who cares what the Property Agent say. are they going to sponsor your new home? Nonsense sia
Why care if you’re happy at where you are staying right now?
- Funny, All my married friends want to move to mature resale HDB, because old HDB has bigger space. New Condos and their pigeon hole rooms are not worth it
- Best is to stay debt free and do what you like in life without a mortgage hanging over your head. Freedom is very rare, don’t bind yourself to the rat race.
- Did your property agent also offer to help you help the next best private property after s/he is done with selling your HDB? 🙂 2 times the commission!
- You obviously do not have a desire to upgrade. If you really don’t, just invest your cash and have a strategy to grow your CPF OA faster (transfer to SA or invest your CPF)
At your income level you probably don’t want to grow your SA too quickly to do CPF SA top up for tax relief (RSTU), so I would say just invest your OA.