facebookHello Internet Friends! My partner (28M) earns $5.3k and myself (26F) earns $4k. We would like to buy a resale HDB (est. 500k) and have a wedding in 2023. How much would we have to save by then? - Seedly

Anonymous

28 Jul 2021

Property

Hello Internet Friends! My partner (28M) earns $5.3k and myself (26F) earns $4k. We would like to buy a resale HDB (est. 500k) and have a wedding in 2023. How much would we have to save by then?

Buy a resale HDB (est. 500k) and have a wedding in 2023. How much would we have to save by then?

Discussion (1)

What are your thoughts?

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The answer depends on several variables.

  1. Are you and your spouse considering an HDB loan (10% downpayment) or a bank loan (20% downpayment)?
  2. Will you and your spouse be renovating the resale HDB? The average cost for a relatively new 4rm resale HDB is ~$53,000 according to Qanvast.
  3. What are both of your expectations for the wedding? The average cost that I see is around $40,000 - $50,000 but this really depends on the scale of the wedding.

I'm also planning my wedding and am currently in the midst of purchasing a house, and I can say that it is difficult to get an accurate number. We are using rough estimates as a budget.

My advice is to set some expectations with regards to the house, renovation, and wedding, and gauge from there. For example, if you are looking to do extensive renovation, then adjust the average price upwards. You'll have a better estimate that both of you can save towards.

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