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Property

A roof above your head or more?

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CPF

Loans

Payments

Property

Firstly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-personal-cash-flow/ Next, we have to determine your plans for the future. For instance, do you intend to stay in this place for as long as you can? How is your current cashflow like? Once we have a detailed understanding on your future, we will create a plan that works. For example, if you intend to sell your house some time later, then you may wish to minimise the potential interest payment to CPF. As a result, it may be wise to use cash as part of the repayment. In order to do so, we will need to create a budget. The best way to do this is via automation and this is how I do mine: https://www.blog.pzl.sg/how-to-create-a-monthly-budget/ While there is neither a right nor wrong answer to this, the only way that makes sense is by understanding your situation. Then we can decide the best solution. Here is everything about me and what I do best.

Property

Lifestyle

J
JY
Level 4. Prodigy
Answered 19h ago
Not really sure what's meant by group buy, but if you are refeerring to buy more for a cheaper price, you can get a better price. Do know of some who got their furniture from Taobao and was able to negotiate with the sellers for a cheaper price.

Property

Loans

In general, there are three ways to reduce the monthly repayment for your mortgage: 1. Reduce the interest rate 2. Increase the loan quantum 3. Increase the loan repayment amount Looking at your situation, #2 is unlikely to happen. This is unless you are able to find a financial institution that is willing to stretch it to 30 years. So, let's move on to the other two methods. In order to give you a more detailed suggestion, we will need to know everything about you. Firstly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-personal-cash-flow/ Next, create a budget that is capable of helping you to make early repayments to your home. The best way to do this is via automation and this is how I do mine: https://www.blog.pzl.sg/how-to-create-a-monthly-budget/ Alternatively, you may wish to consider using your budget to put into tools that yield a rate that is similar to your rate of interest. Through this process, it reduces the interest payment indirectly. However, this requires careful planning that may require you to take on calculated risk. For #1, we will need to create a spreadsheet to find out the exact cost and benefit to make adjustments, e.g. refinancing. Here is everything about me and what I do best.

FIRE Movement

Investments

Property

Lifestyle

Retirement

Career

Savings

Entrepreneurship

Hey! Education is the best investment, especially if you're starting late. There's tons of FIRE blogs are there, but if you're like most heartlanders in Singapore, with at least a 30 minute commute in the morning, i would suggest downloading the app Libby, where you can borrow ebooks from the National Library very user-friendly interface (wayyy better than the previous method of using Overdrive). My top recommendation is the following book available as an ebook via Libby Financial Freedom: A Proven Path To All The Money You Will Ever Need by Grant Sabatier. My personal review is that this book covers 95% of everything you need, including how to ask for a raise, how to start a side hustle, how to invest etc. If you need a great starting point, i think this is it. This was written by the blogger of millenialmoney.com and he also has a fairly informative podcast. Go check those out as well. I guess i will end with: for almost anything, the best time to start was yesterday. But the next best time is today. And you dont have to start perfect, or start 100%, you just have to start. And i think the above book will give you more than sufficient strategies/tactics to get started in 90% the right direction. Best of your luck.

Payments

Property

HDB BTO

No, the ratio of payment does not necessarily equate to the shares of the home. In order to get the most accurate answer, you may check the title deed. Otherwise, you may recall on how your spouse and you chose to distribute the shares when signing agreement for lease. Here is everything about me and what I do best.

Investments

Property

Savings

Robo-Advisors

ETF

M
Matt
Level 4. Prodigy
Answered 1d ago
Some options: Robo Advisor: Easy, can customize your risk, but there is risk involved. Better sutied for long time horizon. Fixed Deposit: There are a few which can get you close to your 2% interest goal for 1 or 2 year lockup. Or HSBC has a promo at the moment for 1.75% with 6month lock up. Stashaway Simple: Some risk, no guarunteed interest rate but could out perform Fixed Deposit with no fee and no lock up.

Property

Lifestyle

Hi anon, Generally, private property would have a greater capacity to appreciate in price over time, but you are at risk of having to find an affordable and suitable property to stay in at the point of selling the current residence. Also do consider that there is no guarantee that the value of the property will appreciate, so you might have to hold on if property prices enter a slump. If you are comfortable with those risks, then I should think a condo would be better, although it won't be too big for a price of $800K. Perhaps more seasoned property gurus could chime in.

Property

Condominium

HDB BTO

Investments

If it's a place you're going to stay in, for the foreseeable future, then i would focus on the environment and the surroundings, and making sure you buy within your means.

Property

Teo See Hwa
Teo See Hwa, MArketing Associate at Propnex
Level 5. Genius
Answered 3d ago
Do you have more detail of the area or building?

HDB BTO

Property

Teo See Hwa
Teo See Hwa, MArketing Associate at Propnex
Level 5. Genius
Answered 3d ago
Property in Mature area near CBD will appreciate more than OCR. The limit depends on cash buyer. You may message me for more detail. 87821025
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