My spouse & I can sell our hdb flat for about $700k, profit is about $400k. We have ready buyers and the flat's valuation is high too.
We are contemplating whether or not to sell and upgrade to a private property so that the kids can enjoy the pool while we use the gym. We have worked out our finances and are comfortable with the loan size & monthly instalment. However, we are unsure if it is a wise thing to sell high & buy high. We considered renting for a period of time after selling our flat but there's no guarantee that prices will come down and if so, when?
We also considered keeping the flat and renting it out in the future as the rental yields are rather attractive too due to the good location of the flat. This would mean buying a second property later, not now. However, will the flat's value drop over the years as it ages? Should we seize the opportunity now and cash in?
I'd appreciate if some of you can share your views & advice. Thanks!
We are contemplating whether or not to sell and upgrade to a private property so that the kids can enjoy the pool while we use the gym. We have worked out our finances and are comfortable with the loan size & monthly instalment. However, we are unsure if it is a wise thing to sell high & buy high. We considered renting for a period of time after selling our flat but there's no guarantee that prices will come down and if so, when?
We also considered keeping the flat and renting it out in the future as the rental yields are rather attractive too due to the good location of the flat. This would mean buying a second property later, not now. However, will the flat's value drop over the years as it ages? Should we seize the opportunity now and cash in?
I'd appreciate if some of you can share your views & advice. Thanks!