View Single Post
Old 08-09-2018, 07:51 AM   #3
Senior Member
Join Date: Jun 2005
Posts: 541
What calculations have you done?

20% downpay for 600k one bedder = 120k.
Buyer stamp duty for 600k condo = 12.6k.
Miscellaneous (etc; legal, msd, valuation fee) fees estimated at 5k.

Maybe 3-4 years more of aggressive saving before you are ready financially.

Hi, I have been reading for a long time but have decided to start a thread now to learn more from everyone here.

I am currently 25 and have been working for close to 3 years. I have slightly more than 20K in cash and about 25K in my OA. I am drawing 4K monthly which is expected to increase in the next few years. I know its not much for now but I will want to kickstart my journey to home ownership.

I am planning to own a 1 bedroom unit before I turn 30. This is for staying and not renting as its my lifelong dream to have my own home. I have done some calculations and it seems feasible.

I would like to seek everyone's advice here regarding my situation and if its an achievable goal. If so, what are things that I need to look out for and prepare?

Thanks all!
fluxos is offline   Reply With Quote