Originally Posted by
richwang
Sorry for the confusing, they are not my sisters. I am a friend of the Husband for the elder sister.
The problem is they are so used to the nice environment of the MM project, it is so difficult for them to downgrade (in particular the husband - face issue). When a newly wed stayed there for 2 years, they simply call it their home, and refuse to sell.
So their current plan is to buy another bigger unit and rent out the MM. You know all those restrictions come in:
1) If you owned a condo, you cannot buy new HDB in 30 months;
2) If you own a condo, you need to pay 40% for 2nd condo.
So their plan is to save and wait for 2 more years to buy the 2nd condo.
The only problem is by then, the daughter of the younger sister is already 3+ years old, and the elder sister is complaining she got married earlier but will need to wait for so long to have her own baby.
Yes, they have made close to S$200K paper gain for the MM. But a classical case of:
More money doesn't mean more happiness.
Thanks,
Richard