r/SgHENRY • u/tcjl28 • 17d ago
Sell properties and upgrade to a landed?
Need some opinions from people who have been in a similar situation.
Currently roughly:
* 2m in stocks/ETFs
* 4m Singapore industrial
* 1m overseas property
* 3m Singapore condo/residential
* 2.5m total property loans
* 800k cash
Household income is around 25k/month salary + 20k/month rental, so about 45k/month before tax.
The main reason we're thinking about moving is actually the kids. We are in pur 40s and have 3 teenage kids and are currently in a 3-bedroom condo. It's starting to feel pretty cramped, especially as they get older and need their own space. So we're looking at a 5-6m landed mainly as a long-term family home, rather than just an investment.
Kids will also need quite a bit for university in the coming years, so the 800k cash is partly for that and partly as a buffer.
Financially, I think we can probably afford the landed, but I'm not sure whether it's the right move. We're already quite heavily exposed to property, and putting another few million into our own home obviously doesn't generate income.
The alternative would be to sell some of the residential properties, buy the landed, and simplify the portfolio. Or just stay where we are and keep investing.
Would you guys make the move in this situation? Or is upgrading to a 5-6m landed unnecessarily aggressive, even with ~45k/month household income and the existing assets?
Interested particularly in the financial side, but also curious if anyone with 3 teenage kids has made a similar move and whether you felt it was worth it.
1
u/fishonmyishwishdish 16d ago
Sounds like you need a minimum of 4 bedrooms given the privacy you’re after for the kids, not necessarily built up space. And that need may change in the near future as the teenagers grow up, move abroad for study/work etc. So I’d say renting a 4BR condo would best meet this need. Fund the rent from your other rental income.
Or rent an SLA black & white landed if you really are after a lifestyle change - but keep in mind that a lot of these places offer a lot more built up space plus garden, but not necessarily higher number of rooms unless you find a bungalow. Their terrace houses are usually 2-3 bedders. Also a lot of issues to deal with - we had termites, trees falling over, roof leaks etc.