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Hi,

It will be in your favor to pay down the condo loan fully, as this means you can get a max 80% bank loan for your property subject to your age, income and credit profiles.

If both of you are SC, there is also a 7% ABSD on the next property. Breakdown as follows:
Cash 5%
CPF 15%
Bank Loan 80%
ABSD+BSD and legal fees 10%

If you pay down the 50K loan, 150K savings left. May I know how much excess OA are there in your CPF accounts for housing?

Assuming u buy a 600K property,
Downpayment and stamp duties will add to about 180K, which can be funded by cash + cpf. You can get rental income from this property which gives u a cushion for retirement.

Thanks and may I understand your housing requirements before further value-adding? Hope to have the opportunity to work with you.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com
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Hi, to advice you on the TDSR and estimate loan amount, and hence the purchase price, I will need more information. Please drop me an email for me to share the estimate loan quantum and the purchase cost break down.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
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Dear sir/madam,

I seriously would not recommend any investment in private residential properties here given that it may likely be a stretch financially to cater to both properties since the tendency of having an empty unit waiting for prospective tenants are higher than before, unless you are able to scoop a super fire sale unit. Speak to a banker to understand better in terms of your positioning financially for the next purchase perhaps. I would rather you look into other forms of investments with more stable returns and exit options now, or perhaps even consider commercial properties or overseas properties where you can opt to sell without being subjected to seller stamp duty within the first few years. Let me know if you need further advise. Thanks.

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Geryl LIM
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Hi there,

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Look forward to hearing from you! Have a great day!

D Kumar
 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com dkumar@era.com.sg

About Me-
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Based on your current situation, its a bit stretch to purchase a 2nd property now. (assuming not much fund left in CPF after setting aside 50% of the min sum -77.5K)

For 2nd property upfront capital outlay as such: (after clearing your 1st loan of 50K)
20% cash
3+7% ABSD (citizen)
about 180K for 600K property.

there will be a shortfall of 30K. (200K-50K-180K)
And to put all your savings into properties is risky, you should always set aside 6 month emergency fund at least to cater for the rainy days (6*8000=48,000) if monthly expense is $8,000

Warmest regards
Belinda Zhao
Senior Marketing Consultant
CEA Reg No. : R051311G
Huttons Asia Pte Ltd
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Email: belindazhao1@gmail.com
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