facebookIs it advisable for a 30 year old to rent a 1 bed room condo with a take home pay of $2600? - Seedly

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Anonymous

18 Apr 2019

Property

Is it advisable for a 30 year old to rent a 1 bed room condo with a take home pay of $2600?

I have my emergency fund set up with 6 months of expenses covered. Personal and hospital insurance is also sorted.

Discussion (12)

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What's the price of that? If its almost the same as a hdb room, why not?

Not advisable, after deduction of the rental which generally $1K, there isn't much left for personal expenses and savings nor spare money to invest.

Nope unless you are getting a huge discount and the rent is nominal say 500 pm. Or you plan to start a home business or sublet or do some short term accommodation. Otherwise not a good idea in Sg.

Zongzong

01 Oct 2018

Retail Investor at A Few Months

There’s some ratio I think, anything more than 1/3 of your take-home pay is too much. Try to keep it...

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