Here’s an extract from the radio:  ,
Andrea Heng:  ,
A friend of mine recently made the decision to” We bought a BTO in Yishun back in the day.” We chose to choose a very short payment time so that we can finish paying off the home right away and then be free to sell it later for a higher price. And we receive it most. It’s natural cash”.
However, they now have a child and are stuck with lower profitability. Therefore, this approach is subject to different schools of thought. And I’m just curious what you thought of that.  ,
David Baey:
I actually do n’t think your friend is wrong. Truly, it depends on the various mental faculties. There’s no right or wrong. As an assistant, I may say my task is to give you all the information. You decide what you will do, and if the choice is difficult, why do n’t you let your choices be?  ,
Andrea:
At the end of the day, I believe that is a valid level.
But here’s an indication that I pitched to my father. He’s still using his CPF, which has since been converted to a retirement account, which complicates stuff, right? He must also finish paying off this straight. He has 24 weeks to go before he’s suddenly done with this product, this problem, he calls it.
I said to him,” Look, you have this cash available.” Why do n’t you think about paying off those final two years? You could even get your money back by selling the house right now for a high price.
I do n’t know if that’s necessarily a wise financial decision, and he’s against it.  ,
David:
Okay, so your situation is very precise. But first, on paying off debts, suddenly, do your planning. You’ll lament it if you spend all of your funds on time and pay it back later. But do not do the extreme.
But at the same time afterwards, we are Asians, we are conservative. We do n’t like loans. So there is the scientific brain, but there is also the mental, traditional brain. And I wo n’t tell you that I want to pay off a loan is wrong.
I’ll just remind you statistically is bad, but I understand your feelings.
But then again to your husband’s account. It does n’t make sense of him to pay. I’ll reveal… If his CPF can cover the loan amount ( for ) the mortgage, actually he’s unburdened. It does n’t affect his life. However, paying off the mortgage and removing his lovely silver stash devalues it.
( When ) he opens his ibanking ( account ) and sees the balance, he feels happy. If it’s zero, it’s no shiok. But it does n’t affect his life whether he’s paying off or not because he’s still working. If he’s not working, then maybe he may consider paying because he do n’t want that burden.  ,