We Make $500k Per Year: Should We Buy A New Launch 4-Bedder Or A Freehold Landed Property With Legacy Planning In Mind?

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10 months ago

For that monthly outlay, I would suggest buying a smaller freehold condo as an investment asset (both for rental and future use when downsizing as empty nesters), and staying on/renting at Coco Palms. It would be more affordable and not overstretching budgets. It doesn’t need to be either/or but having both the lifestyle they already enjoy plus a nest egg. My thoughts.

10 months ago

Given their budget, I would suggest getting a smaller freehold condo for investment (rental now, to downsize later as empty nesters) while staying put (or renting if they choose to sell) at Coco Palms. That way there’s no degradation of lifestyle as they enjoy living there while easing financial burdens. They’ll have a smaller retirement home and still able to sell their current condo (if staying put) to help the children finance their home purchases when the time comes. That’s my way of thinking.

Stacked Homes
10 months ago
Reply to  Oriel

Hey Oriel! Thanks for sharing your thoughts. We did consider this option too but given the lack of a specified timeline and the need for legacy planning, we would’ve preferred a freehold/999-year leasehold development instead so they/their children wouldn’t have to worry about lease decay at some point.

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