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A roof above your head or more?

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HDB BTO

Property

Family

I am stressed, so many numbers. How do I calculate if I can afford a 5room BTO?
https://www.aaronleow.com/max-cpf-home-loan You can use the calculator above to get a rough estimate of your home budget. A 5 room flat is stretching it. You have not factored in renovation costs and misc fees as well. Go for something more affordable unless you have a very concrete plan in increasing your earning power before committing.
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Investments

Property

Loans

Retirement

CPF

Savings

Family

SG Budget Babe

MileLion

What are the significant expenses ahead that I should start planning for, as a young guy who is getting married soon? Wedding, housing, car, kids, parents etc. How are you planning for retirement?
Choon Yuan Chan
Choon Yuan Chan
Level 9. God of Wisdom
Answered on 24 Dec 2019
You name most of them already. As for the planning for retirement part, i am actively expanding my knowledge on investing so that i can improve the rate of returns on my savings by being able to invest effectively and efficiently
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HDB BTO

Property

Family

Anyone looking at the August 2020 BTO Launch? Which area do you think is the best?
Malvin Tan WP
Malvin Tan WP, Writer at t.me/pwpfpodcast
Level 4. Prodigy
Updated 1d ago
The one nearest to town and also to an mrt, i guess that is the "best" according to past oversubscribed projects provided by best means you the one most people like then i guess it will be the Geylang project technically its at Dakota MRT
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HDB BTO

Property

Home Loan

Loans

What is a reasonable sum to spend on a 4-room BTO? What percentage of your income should you be using (i.e. healthy) to pay the HDB loan per month?
Hi Anon, the maximum I would allow myself and my clients to pay for mortgage or even rent would be 30% of your annual income. This goes hand in hand with the value of your home that should be at max be 5 - 7 X Annual Income. So if each spouse makes 50k/yr for example, the max cost of home should be between 500-700k, but the lesser the better. And thus, mortgage should be at max 30k/yr or 2.5k/mth. Now for a 4-room flat, of course mature and non-mature estates would have different price points and location plays a big part. I feel as long as you follow the above rule, it'll be fine.
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Loans

Property

Refinancing

Home Loan

I had applied for refinancing 3 weeks ago but there is no outcome from the bank yet. Will I be penalised if I apply elsewhere?
Jason Cheong
Jason Cheong, Alumnus at NTU
Level 4. Prodigy
Answered 4d ago
From experience, there is usually no penalties in applying for refinancing from various banks/financial institutions. This is because the contract to refinance have not been signed at this stage. Stages: 1) Application to Bank/FI 2) Offer given by Bank/FI 3) Applicant will sign on offer letter and submit in to Bank/FI to formalise contract. Hope this clarifies!
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Investments

Property

REITs

SeedlyTV S1E05

Property investing Ads that claim that one can buy and own more than 30 properties with little or no money down. Possible? If yes, how can one do so, and what are the pitfalls of doing so?
I would suggest to “invest” in your own home rather than rent. And if you can still live / leech with parents or siblings or friends & relatives, and rent out your “investment” you will slowly be able to grow your nest egg. Till you can truely afford to live in that “investment” Then decide if you wish to or go ahead to invest in a 2nd one while still leeching on. however, do own homework as owning a HDB comes with all sorts of T&Cs. They are also not a “gteed” money spinner as they used to be. Most NEW BUCs including HDB properties increase in value most between the 6th to 9th year. While resale HDBs tend to have decreased in value over the last 6yrs across almost all estates
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FIRE Movement

Property

Investments

Anyone has experience investing in commercial properties? What was it like? What's the thing to look out for?
Hey Vin, noticed you're a Youtuber like myself! Love Graham and MeetKevin's videos hahaha. I wished I could give you an answer but tbh I don't personally know. I tried digging into a lot of real estate investing books in SG but the information is very thin. My fierce aunt is a real estate investor that has flipped commercial properties (She just sold her warehouse during this CB period, she was asking me to buy it lol!) and she can probably help you out if you're keen in buying cough cough stuff from her.
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Condominium

Property

Lifestyle

I have a monthly salary of $3,900 only and $55k cash savings, no debt. Can I afford a studio condo as a single? What is the cheapest condo I can buy in 6 months’ time?
I have 2 rules when it comes to knowing how much real estate you can afford. 1) Not more than 30% of your income paid monthly as mortgage. 2) Not more than 5 - 7 X Annual Income for the value of your home. So that's about 320k mortgage at 1.8% 30-year tenure which would be just below 30% of your income if you follow rule one or at max a 327k home if you follow rule two. There are no condos in Singapore at this price. So I would instead recommend to buy resale if you can, or rent until your income increases.
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Property

General

Lifestyle

How old were you when you got your first private property?
KA
Khairudin Ali
Level 4. Prodigy
Answered 6d ago
I got mine at 26 years of age. MOPed and upgrading soon due to space constraints. Don't worry with stats numbers. Just worry about your financial numbers and your family comfort. Be happy.
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Investments

Savings

Savings Accounts

Personal Finance 101

Family

Property

HDB BTO

What is the correct strategy to pay for a big ticket item like the downpayment for a house or for kids? Should I go into a savings plan that ends just when I am planning to purchase it?
P
PillowCase
Level 5. Genius
Answered 6d ago
Hey there. If you are considering high-interest savings accounts, CIMB has recently announced today that they will be revising their interest rate for FastSaver. You might want to take a look here. Other alternative choices that do not require spending/minimum sum include: Singlife Account (2.5% p.a, capaital guaranteed, interest non guaranteed) FSM Auto-Sweep Account (1.05%p.a, interest rates may be revised) Stashaway Simple (1.9%, capital non guaranteed, interest non guaranteed) SCB JumpStart (1%p.a, only for aged 18-26) Crypto Earn (Depending on currency, as high as 16%p.a (CRO) without any prior staking. However, do take note of the volatility of cryptocurrencies. For higher interest rates, a fixed duration of 90 days is imposed before withdrawal can be made. Intetest is paid out every 7 days) Crypto Exchange (20%p.a for CRO currency. Similar to Crypto Earn, just that fixed duration is set at 180 days. Interest is paid out daily) Vivid Account (1.05% p.a for first 10k, 1.30% for 10k-20k) Tiq 3 Year Endowment Plan (2.10%p.a, guaranteed)
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