**How you allocate your saving for a house?**

[Throttle2]

Depends on HOW you perceive this $7k..

 

His S$7k are very stable jobs for both of them..and will be more as years go by..more or less confirm....as I can gather from my 8th sense!..

 

Your more then $7k as a table wiper.... come and go...

 

There is a vast difference between the two especially if years go by....

 

Since you always like to 'talk down' to ppl who has a modest amount of money..

 

I will also be able to 'talk down' to you as you will have perceived by now!

 

 

hahah, welcome welcome.

talk me down, pleeeaaasssee.......

 

I only $3.8k per mth, how many times do you want me to say that.

 

 

[Jrage]

1. 40s

2. car fully paid. no kids. monthly total out going about $3.5k.

 

hmmm let me do a simple calculation for you..

600k - 250k cpf , 350 cash.

 

If you buy a hdb ,priced ard $500k, with cov 40k,

 

Assuming, you use cpf/cash to purchase your flat.

Cash left : 350 - 80 - 40 - 25k = 205k left.

CPF left for other pty investment - none... as you need to meet min sum for your 2nd home.

 

205k is only enuff to put downpayment+ stamp fee for 500k 2nd pty. So you need to be clear that if you chose to buy a hdb.. you cant really buy a pty if your saving remains the same.

 

 

[Jman888]

no need expert la

when u r in 40s..i think u can loan till u r 62 or 65...

if not why my father pay cash to top up for his new flat...

 

 

not true, i saw someone 30+ took 40 years loan, maybe the lender the loan be taken over by the next generation

[FastFastCar]

You perfer to think 'ill' of the couple ...firstly becos..

 

you can't have the same or more money than them..

 

but more clearly is that..... you admit ( though not self declaring) that you that you a failure in life compared to them...

 

and most clearly to me..

 

you had performed worse than your own parents in life..

 

Your honesty is really brutal, be nice.

[FastFastCar]

hmmm let me do a simple calculation for you..

600k - 250k cpf , 350 cash.

 

If you buy a hdb ,priced ard $500k, with cov 40k,

 

Assuming, you use cpf/cash to purchase your flat.

Cash left : 350 - 80 - 40 - 25k = 205k left.

CPF left for other pty investment - none... as you need to meet min sum for your 2nd home.

 

205k is only enuff to put downpayment+ stamp fee for 500k 2nd pty. So you need to be clear that if you chose to buy a hdb.. you cant really buy a pty if your saving remains the same.

 

Do you know how to read? TS said he has 600K cash and 200K CPF, that's 800K. I think he should whack a private condo at 1million, 10 years later it will become 2 million

[FastFastCar]

not true, i saw someone 30+ took 40 years loan, maybe the lender the loan be taken over by the next generation

 

Maybank loan me till 75 years old.

[Coltplussport]

I think a 4 or 5 rm flat is sufficient. It may cost about 500-600K range depending on location. Full settle it and keep the remaining cash. Continue with your current lifestyle, don't change car. Use the next 15 yrs or so to save up for retirement. Should be no issue for u.

 

Having seen some of my friends playing with their only property, i can only say it is LPPL. It comes back to square one. It is always impt to settle your first roof before u decide to play property game.

 

That's why I curious why in the first place they sell their flat for? Did they listen to some agent thinking that prices will drop that why they rent a place to stay? Imagine gonna spend money on stamp duty and renovation, It is just not worth it.

[Neutralsg]

People slog their whole lives and saved 600K Cash and you guys dissed his combined income of 7K, it's not how much you earn but how much you can save sometimes.

How true for some posts. At least, TS appears to be someone prudent and being without kids, they have their advantage. Having said that, there had been ppl who sold their homes, strike million $$$ windfall and ended up in more sorry state than they had been.

To TS, I can only wish the couple my best wishes to capitalise on their financial position to last their lifetime.

Edited March 6, 2012 by Neutralsg

[Jman888]

That's why I curious why in the first place they sell their flat for? Did they listen to some agent thinking that prices will drop that why they rent a place to stay? Imagine gonna spend money on stamp duty and renovation, It is just not worth it.

 

 

20 . 12 . 2012

[Neutralsg]

when i was a child,i see my friend's father.. wah.. business man... like doing well... and my father is just a salaried worker.. pay not high somemore..

after many years, i see my friend's father (in his late 60s or 70s) still in debt cos of business.. servicing a big mortgage loan....

whereas my father is happily retired and somehow got money (without asking from us) to travel here and there....

It's called destiny. If only everyone can see the crystal ball. A situation of he who laughs last laughs best!

[Neutralsg]

sorry lah... i didnt know this is an old couple. i thought they are still young.......

Then you should have read all the posts before posting.

[Neutralsg]

not cant

the fact is i dun hv

LOL

 

its ok to be failure in the eyes of others..its their problem not mine...

 

oh yes..think my parents did better

Because they had better government then than you have today.

[LoverofCar]

Some JB house is about RM 1 mil, can retire already? Eat grass?

 

Why buy the house in cash full? Rental a house and pay rental.......put RM1.4M in bank to earn an interest of 1.5% per year....you will get $21K income every year...

[Neutralsg]

btw i did not think ill of the couple... what i said was they will hv their ways to generate other streams of income...

bro AFV, hope this clarifies

Generating income is one thing. Having the discipline to save or put it to good use is another. How many who have the opportunity to build their wealth have the discipline?

Look at those who talk about changing cars the minute they thought their car loan is a 'break even' or has created a 'windfall'? It says a lot about such young Singaporeans today. No wonder $$$ always no enough.

Edited March 6, 2012 by Neutralsg

[Jrage]

Do you know how to read? TS said he has 600K cash and 200K CPF, that's 800K. I think he should whack a private condo at 1million, 10 years later it will become 2 million

ha haha .. see wrongly.. okay.. asssume 600k cash + 200k cpf

hmmm let me do a simple calculation for you..

 

If you buy a hdb ,priced ard $500k, with cov 40k,

 

Assuming, you use cpf/cash to purchase your flat.

Cash left : 600 - 80 - 40 - 25k = 455k left.

CPF left for other pty investment - none... as you need to meet min sum for your 2nd home.

 

455K now is only enuff to put downpayment+ stamp fee for 1.5 mil 2nd pty in 5 yrs time .

Given that i believe the prices will moderate in the next few yrs. *raising interest rate in 2014 , supply surplus in early 2013*.

It may be good that you buy hdb now, pay the mthly installment using what is left of your cpf.

And keep the cash 455k in some fixed income which yield ard >3%. ( est 560k in 5 yrs, excluding further saving from your 7k income)

 

If you buy a condo now which is 1~ 1.2mil now, you can hardly buy a second pty. Also if you condo will incurr more cost etc maintances fee , higher mthly installment which may eat into your cash. Not forgetting that in 2014 , there may be interest hike, that will probably eat up some your saving now.

Edited March 6, 2012 by Jrage

[Ben5266]

Generating income is one thing. Having the discipline to save or put it to good use is another. How many who have the opportunity to build their wealth have the discipline?

Look at those who talk about changing cars the minute they thought their car loan is a 'break even' or has created a 'windfall'? It says a lot about such young Singaporeans today. No wonder $$$ always no enough.

YEAH. And also trying hard to ask the govt to increase the healthcare budget. Best is the govt pays all our hospital bill.

[Roh96]

Do you know how to read? TS said he has 600K cash and 200K CPF, that's 800K. I think he should whack a private condo at 1million, 10 years later it will become 2 million

 

Past is not equal to future. What if a 1 mil condo become 500K 10 yrs later?

[Raymondism]

Your honesty is really brutal, be nice.

dun worry

he can say whatever he wans