consider refinancing your loan first to lessen the monthly repayment burden.

then consider renting it out, while you move to another place. Suddenly, your mindset will change from selling to keeping.

This post has been edited by Liamness: Jul 1 2020, 09:24 AM

not just rent out. if more than 5 years, should also consider refinancing the home loan. Get a fresh 35 year loan, to lessen monthly commitment. If TS can rent out the condo for 2k, he will already fully cover the loan + maintenance fee..

yup. that's the benefit of having a house..

If you rented it out, it is more like a business than a sinked cost. Especially if the rental entirely covers your house loan (interest + capital)..

there are plenty of things you can do with a home that has your equity saved up such as the highlighted bold part.

And the best thing is, so long as it is being rented out, you are making money from the property. A house then becomes a net positive to your retirement fund..

?? you don't understand the property game..

TS already been paying his outstanding loan for 5 years already.. if the condo was 500k, & he took a 450k loan, in 5 years, the loan outstanding balance is now 340k.. it is reducing..

around 5 years, you should look to refinance to lessen the monthly commitment.. That means TS takes up a fresh 340k loan on the outstanding balance for another 35 years.. So your monthly repayment will also be lesser..

That is how you can reduce your monthly commitment, meanwhile, rental prices generally hover around the same spot. So TS can take advantage of this by renting the unit out at market rate.. Which should definitely be more than his monthly loan repayment...

Do you understand now?.. Unless you are buying the condo at 70% loan, no way you can fight TS monthly commitment after refinancing.. Because his loan is much more lesser than yours.

This post has been edited by Liamness: Jul 1 2020, 09:39 AM

You know what. After researching you are right. Puchong is a bad investment area.

Still though, ts can take my advice on board and try to rent out as much as he can. Then look for an exit strategy.

There might be some demand in the near term with bukit jalil opening. But it will take another 10 years before puchong will see any real growth.

Coronavirus crisis will be far worst.

Better take advantage now too then alot of forummers will be multi millionaires aswell..