My advise is ...... RENT .

" Or can I take the full amount at one shot to my bank account then later pay accordingly to relieve my monthly cashflow..?

Dont buy because of HOC. Easy to buy, difficult to sell.

This post has been edited by mini orchard: Jul 9 2020, 08:31 AM

There are cost in owning a property ...

One time cost ..

1. Legal fees
2. Stamp Duty
3. MRTA (Life Insurance Policy)
4. Renovation.

Monthly cost ..

1. Bank loan interest ... amount can be more than or equal to rent
2. Monthly condo maintenance and sinking fund

Yearly cost

1. Quit rent
2. Assessment
3. Fire Insurance

Other cost

1. Repairs and upkeep.

Risk

1. Your purchase price may not increase or worst, lowered. Even 50k increase may not covered the bank loan interest.

EPF is meant for your retirement. If you take out from acc 2 now, there is not much left when you really need it when you reach 40 or 50 if you face another covid pandenmic leading to a possibility of bank auction.

If one find difficulty to pay monthly installment due to cashflow problem, then monthly income is insufficient to own a house.

Renting ..

The cost is the monthly rent.


If you having financial difficulty, renting a smaller or cheaper unit is an option. If you cannot pay the bank installment, your property will be auctioned off and you be back to renting.

This post has been edited by mini orchard: Jul 9 2020, 08:34 PM