We Have $750k Cash: Should We Buy An HDB In Cash To Avoid The High Interest Or Buy A $2m Condo With A Loan?

Property

By Stacked Homes • February 24, 2023

Dear Stackedhomes Team, Thank you for the valuable insights and articles in recent years, I have enjoyed them over the past 5 years. I am at a crossroad selecting my first property purchase – a Resale HDB or a Private Property. Basic Information about my partner and I:

Singaporean
Age 30
Income of 24k a month (variable), both in sales, fixed income is 14.5k a month (including CPF)
750k cash (to be used solely for the property purchase)

Property Considerations:

Situated in Buona Vista/Commonwealth/Queenstown (District 3,5) area due to parents’ proximity
4 Room HDB Resale

The plan was to pay for the entire HDB Resale with the 750k cash (our budget) due to the current high interest environment. We are looking to do the essential occupier scheme which will free one of us to purchase another property in the future....