I just got married and will be trying for the coming BTO/SBF. Should I save the money and use it entirely for renovation or use a portion to invest? - Seedly
Seedly logo
Seedly logo
 

Investments

Property

CPF

HDB BTO

SeedlyTV S1E06

Renovations

Anonymous

Asked on 29 Jul 2019

I just got married and will be trying for the coming BTO/SBF. Should I save the money and use it entirely for renovation or use a portion to invest?

I just got married and will be trying for the upcoming BTO/SBF. Should I save the money and use it entirely for renovation OR use some of my e-savings for investing, like Robo-Advisor?

Totally new to investing and only started exploring a few days ago as I’m worried about retirement.

Would it be a better idea not to use up the monthly CPF contribution for HDB instalments but rather keep a portion for retirement also? Example, buy a 3 room instead of 4 room?

0 comments

3 answers

Answer Now

Answers (3)

Sort By

If the money is meant for short term then it would be good to use a time machine and travel to the future before investing.

Otherwise it is best to avoid investing for the short term

1 comment

👍
3
Question Poster

30 Jul 2019

Thanks!
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post

I personally find it useful to look at interest rates. If the interest rate of the renovation loan is lower than that of my investment/savings returns, than one might choose to set aside a portion to invest, while taking a renovation loan.

E.g. If i/r of renovation loan is at 2% and investment/savings returns is at 3%, I might choose to set aside a sum for investments/savings instead as the returns would cover the cost of the loan and still allow me to earn a little.

Hope this helps!

1 comment

👍
3
Question Poster

30 Jul 2019

Thanks!
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post
V
Vivian
Level 4. Prodigy
Answered on 21 Nov 2019

Dont spend too much on renovation. I made a mistake of spending so much on my first house n when i upgraded later, realised this renovation cost eat into my profit. Better to invest.

0 comments

👍
0
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post