dear forummers, would like to hear some views from you guys.
We currently own a condo, fully paid up, valued at 2.2m. We wish to move to a smaller condo and rent out our current condo. We only have enough for downpayment of smaller condo, but we have no outstanding loans. Would you advise this is a good time to buy this 2nd condo now? Or should we wait for next yr as i hear prices may soften by yr end.
And if we do go ahead and buy, would you advise us taking up a term loan off our current ppty or just take a bank loan? Any differences between the two?