facebookMy husband (27 year-old) just got PR last year & is drawing a $2.8K salary. I (25 year-old) earn $2.4K & may be out of job soon, how long should we wait before applying for a house? - Seedly

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Anonymous

07 Apr 2020

Property

My husband (27 year-old) just got PR last year & is drawing a $2.8K salary. I (25 year-old) earn $2.4K & may be out of job soon, how long should we wait before applying for a house?

It is also important to note that we do not have a lot of savings.

Discussion (4)

What are your thoughts?

The more you should apply for a house asap and it will also motivate you to go into the next job asap. mostly basic HDB can be funded by your CPF OA. Just importantly if you both have sufficient CPF for the initial deposit.

Desmond

Desmond

07 Apr 2020

Peak Performance Coach at [email protected]

A good rule of thumb is this:

  • Don't buy a house that is 5X of your total annual income

  • Have AT LEAST 6 months of emergency funds put aside before considering any large ticket purchase.

Tan Kel Vin

Tan Kel Vin

25 Mar 2020

Financial YouTuber at Kelvin Learns Investing

When you buy a house, the cost is very huge, normally about 30% of the house price (lawyer fee, agen...

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