AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
Hi All,

We are a S'porean couple with 4 rm HDB flat (with an outstanding HDB loan and MOP in 3 years time) intends to have passive income for long term after reaching MOP.

Which is better for investment/good returns? a: Buy a re-sale condo and immediately rent out to service the loan and how much does bank gives out such loan?

b: Buy a new launch condo and wait for TOP to rent out or sub sell it? Option A or B?

C : Buy a 999years or free hold landed property.

If we earn about $8k per month , with a capital of $180k and $0 in CPF OA.

What is the maximum amount of loan bank can issue for condo and landed property?
0 •
722 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

Mike Lim
Replied
Afternoon Alan,

Based on today's condition, you need to consider the following:

1) Will your HDB loan be fully paid?
2) Would you have enough capital if you can only get 60% loan, as 10% must be in cash?
3) If you were to purchase new launch, do you have the holding power to pull through the building stage?
4) Will there be any chance of gathering cash savings over the period of 3 years? If so, how much are you looking at?
5) What sized property are you looking at? Prices of property varies based on location and size. Hence have a target to look at, putting in additional buffer for inflation, to ensure that you are not caught off guard.

Regards
Mike Lim
 96929209 
ERA Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions