Hi gurus and seniors,
I'm quite new to property investment and would like to seek some advice from the old birds here.
I have a family of 2 kids and currently staying in an HDB flat. We have saved up a bit and we're looking at buying a condo to bring up the kids (pool, security etc). Here's our situation:
HDB MOP: 9 months to go to hit 5 years. We took up HDB grant during point of purchase.
Current HDB financing: HDB loan at 2.6%
Financial situation: Sufficient to pay up the balance of HDB loan and 20% of $1.2m+- condo (thereabouts)
Preference: To keep the HDB and buy the condo
I understand that we can only buy after the MOP is up. So can you all advice what's the best option for me now? Should I just clear up the HDB loan? And assuming I want to buy a 2nd residential property in future, can I use CPF funds to partially fund it?
Or what would you do if you were in my shoes?
All inputs appreciated. Thanks.