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Kai Xin

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Kai Xin

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Kai Xin

  • Answers (10)
  • Questions (2)
  • Reviews (0)

Education

Lifestyle

Credit Cards

Is there any credit cards that can be make use of to pay school fees? I am able to pay the bills but just wondering if I am able to reap any benefits like air miles etc..?
Kai Xin
Kai Xin
Level 3. Wonderkid
Updated on 07 Jun 2019
Using ipaymy.com is similar to using cardup. Usage fees are the same,except that they will run some monthly promos that will bring down the usage fees to 1.99%. You save money while earning miles at the same time!
šŸ‘ 0

Condominium

Career

Property

How much salary should you be earning to afford a condominium in Singapore?
Kai Xin
Kai Xin
Level 3. Wonderkid
Updated on 07 Jun 2019
Advice is don't use too much CPF for your currrent BTO. Use cash as much as possible, take it as forced savings for your new condo. At the end of 5 years, you will pay less accured interest and the lump sum comes back to you as cash to be deployed for your new condo
šŸ‘ 2

Investments

Property

I just saw a facebook advertisement saying they got a lot of commercial properties with $0. How do you do this and what are the risks? I thought need down payment for property?
Kai Xin
Kai Xin
Level 3. Wonderkid
Answered on 08 Jan 2019
This can only be down through collaboration with others. Those with money,give money. Those with no money, give time.
šŸ‘ 0

Salary

HDB BTO

Policies

CPF

Property

My gf and I are both earning about $3.5k a month ($2.8k after CPF deductions). Should we use cash to finance our BTO loan or should we use CPF?
Kai Xin
Kai Xin
Level 3. Wonderkid
Answered on 08 Jan 2019
When you put cash into your BTO, it is still a form of savings as it will continue to appreciate in value,albeit a form of forced savings. I believe the BTO would not be the final place of residence and you may look to upgrade in future when your family grows in number. CPF put into financing the flat would incur accured interest that you can't see now at this point of time. You will feel the effects when you find that the cash proceeds from your future sale of flat is less than what you expected because part of it goes into paying the accured interest. I would recommend working out your budget carefully. Work out a cash amount that you and your future wife are comfortable with putting into the mortgage for BTO, and use CPF to pay the remaining amount. Since you are financially savvy,continue to set aside that money to invest, at some point of time, use the returns to lower your outstanding loan. Savings in the house and your own investments are separate baskets of investments. This is also considered diversification. Most importantly consider the expenses that you might incur as a young family before arriving at the amount of cash/CPF to use
šŸ‘ 0

EC Condominium

HDB BTO

Resale HDB

Property

First-time buyers here - does it make economic sense to skip HDBs and go for an EC or Condo if we can afford it?
Kai Xin
Kai Xin
Level 3. Wonderkid
Answered on 27 Oct 2018
If you sltill can get hold of any in Singapore, EC is a good choice! BMW for the choice of a Toyota and more chances for first timer to apply. If your budget and timeline could afford it, go for the EC
šŸ‘ 0

Investments

Property

Which is a smarter financial choice - Buy ready to move-in resale flat at $80k higher or buy the cheaper flat requiring some work with spare $80k to remodel the flat the way we want?
Kai Xin
Kai Xin
Level 3. Wonderkid
Answered on 27 Oct 2018
Depends on how long you intend to stay there. Stay there long term, make room for some budget to do up the place according to your style, if not minor works would suffice
šŸ‘ 0

Condominium

Resale HDB

HDB BTO

Property

If you don't qualify for a BTO, would you buy a re-sale HDB for $1m or a condo for $2m (assuming available financing for both, and at decently good locations)?
Kai Xin
Kai Xin
Level 3. Wonderkid
Answered on 27 Oct 2018
Depending on location, wouldn't buy condo for $2m. Might as well buy a landed. Use 1.5m to buy new launch condo
šŸ‘ 0

Property

Would you rather buy sale of balance flat for $150,000 and potentially upgrade later or buy $400,000 resale with better location?
Kai Xin
Kai Xin
Level 3. Wonderkid
Answered on 27 Oct 2018
Maybe you want to share which is the area of SBF and mature location? A lot would also depend on the development of the area, which would contribute to the upside of property value. Digital Hub coming up in Punggol would probably add value to the flats there.Serangoon area has limited upside due to the stability of infrastructures.
šŸ‘ 0

Investments

Property

With the recent property cooling measures. Do you think that property is still a viable option for a middle aged couple as an investment vehicle?
Kai Xin
Kai Xin
Level 3. Wonderkid
Answered on 27 Oct 2018
Personally, I would do both, as a form of diversification and risk management. What you need is to get yourself educated in property investment or stocks investment, whichever that you feel you are not so familiar with, rather than relying on all the heresay around you.
šŸ‘ 0

Resale HDB

HDB BTO

Family

Property

Iā€™ve got a few questions about BTO and Resale SBF. Am a first-timer here with near parents scheme, looking at mature estate. What may cause me to forfeit my chance?
Kai Xin
Kai Xin
Level 3. Wonderkid
Answered on 27 Oct 2018
Getting a ballot number but yet giving up the chance to select one will not do your chances any good. It may come back to haunt you in future flat exercise with HDB. You may want to reconsider your choice depending on your timeline and budget to go for a resale, as that would give you better control and choice in the selection of your place of living.
šŸ‘ 0
Level 3. Wonderkid
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