I have being bothered by this matter for weeks and need advise.
I just started work in a new place and can't find time to sit down to analyse
Currently I am staying in Yishun for 18 years. My first (resale) flat when I got married, a top floor airy unit. I am told as on this year it is about 27 years or more. I am the 3rd owner. I have fully paid up to HDB about 8 years ago. I have 2 kids in secondary schools.
My wife told me to get another place since the money in CPF cannot be fully withdrawn.
Because I 100% used CPF to buy this unit, I "owe" CPF coming to $550k including the accural interest. This amount is increasing every month. And I was told only sellig the house is one of the way to return this amount back to CPF.
Don't get me wrong, I am not asking for advise on how to maximise profit or cashflow.
I don't want to get into debt or financially stretched again. Firstly I don't have much confident in the future after being retrenched twice since 2008. Thank goodness I found a job in a Pharma company with a 5year strategy plan to pump up production and I am involved in it.
Secondly is buying of house a better way to utilise CPF?
I thought when I got my present job, I could have spare cash to explore (digital) photography and shooting bird with interchangeble lens and learn photoshop for post processing............