Asked by Lim
My friend and his wife (in early 40s) bought a Punggol 4rm flat from HDB back in 1998 or so. They now earn >$12K combined and cannot buy a new BTO nor EC due to the income ceiling. Most of their peers have bought 2nd properties and rented out their HDB flats. However due to various circumstances, they have no cash savings to buy a 2nd property like most of their friends.
What is the best option for them if their ultimate aim is to stay in 1 property and have another property for renting out in future?
1) Sell HDB now and upgrade to private condo with the proceeds?
2) Sell their 4rm and upgrade to a larger resale HDB flat?
3) Remain where they are.
Many of their peers think it's a waste to give up their current BTO flat (since they can buy BTO anymore) but if they do not sell it, they will never be able to upgrade.
Please advise in this forum. Thank you.
What is the best option for them if their ultimate aim is to stay in 1 property and have another property for renting out in future?
1) Sell HDB now and upgrade to private condo with the proceeds?
2) Sell their 4rm and upgrade to a larger resale HDB flat?
3) Remain where they are.
Many of their peers think it's a waste to give up their current BTO flat (since they can buy BTO anymore) but if they do not sell it, they will never be able to upgrade.
Please advise in this forum. Thank you.
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