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Old 28-07-2019, 01:19 PM   #1531
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I Guess u are doing fine based on your age.
From what you mentioned, you said you are setting aside a Budget of 1.5mil for property purchase. Do remember to also set aside some savings that could last you for at least 2 years just in case (touch wood) one is out of job or for any emergency use.
Should never drain off all your savings just to shortened your housing loan within 5-10 years.

Cheers
Tbh, 1.5 mil would be an almost total drain, which is why I said is out of my price point for now. Then again, 2 years of savings isn't too much cash too, can be easily set apart between purchase date and TOP date.

Life is ok now because our dividends from stocks and bonds are just a little below monthly expenses excluding insurance payments. But.... most of these will be gone if I had gone ahead with the housing.
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Old 28-07-2019, 01:21 PM   #1532
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Let me provide some numbers. 30% of a cohort will be graduates. The median salary for graduates is $3,500. If an avg uni grad couple saves their entire salary (which is unlikely) then they will be able to save 400k in 5 years.

Unfortunately those impressive graduates who come out with 6-digit savings right after graduation (that made ahboy82 jealous) are probably those with rich parents and limited to less than 5% of uni grads. Those who make early investments are also the minority.

These privileged young graduates are also unlikely to eye ec like sumang. They can easily afford RCR private condo projects which enables them to commute easily to the financial districts.

Looks like a certain ahboy here is trying to talk up the market. Unfortunately it seems his resale unit prices are stagnant.
Never say never. I did hit 300k+ by age 30. Solo.
But work 80+ hours a week for that.

Now I relax liao, plus expenses up a lot due to children. Cannot achieve same results le.
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Old 28-07-2019, 01:22 PM   #1533
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Cannot generalise like that.

I have no other loans except for housing. And that's because housing loan interest is extremely low interest. Car loan already fully paid.

I'm only slaves to my children.

I'm also not willing to be too much of a slave to property. That's why my max budget is 1.5m property, which will yield me a loan which can be cleared within 5 years to 10 years of TOP.

But being mid 30s, maybe I'm not the young and financially savvy group you are referring to, so probably I won't understand.
Haha yah, thatís a general picture.
As long as one is happy, thatís the number one rule, and thatís an affirmation itself you are doing well.
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Old 28-07-2019, 01:26 PM   #1534
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Hehe, Iím a cheapskate. I drove a Toyota for 10 years and renewed my COE in 2016.
Only recently just bought a new car below $75k.

My peers are driving Merz, audi, BM 5/7 series and jaguar though. Lol

Basically, I just need a 4 wheel to bring me from pt A to pt B.
Bro, you may just saving up for a Lamborghini!
Or investing your monies elsewhere.
As long as we are happy, thatís more important, and I can tell (from the threads) you seem contended already, which is good.
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Old 28-07-2019, 01:32 PM   #1535
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Tbh, 1.5 mil would be an almost total drain, which is why I said is out of my price point for now. Then again, 2 years of savings isn't too much cash too, can be easily set apart between purchase date and TOP date.

Life is ok now because our dividends from stocks and bonds are just a little below monthly expenses excluding insurance payments. But.... most of these will be gone if I had gone ahead with the housing.
In your case, I would advise against setting a 1.5mil Budget for property then. Draining all savings is quite a scary thing.

I have a loan that took me 20 years to pay off. But at the same time, I decided to also set aside enough funds to tide me through a few years in case, touch wood, out of job or other emergency uses.
Of cos, like your case, I could have chose to pay off my loan or shortened my loan tenure by draining part/all my savings but I’m decided not to do that.
You never know when you need cash.
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Last edited by NiShiZhu; 28-07-2019 at 01:49 PM..
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Old 28-07-2019, 01:39 PM   #1536
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Bro, you may just saving up for a Lamborghini!
Or investing your monies elsewhere.
As long as we are happy, that’s more important, and I can tell (from the threads) you seem contended already, which is good.
Human are always greedy and never be contented la.
Just that when reached certain age, not as aggressive and high risk appetite like last time.

Realise in life, there are more important things to focus on, particularly our health and quality time with family.
Of cos, still enjoy my visits to different showflat. Lol
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Old 28-07-2019, 01:45 PM   #1537
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Thatís why I bite the bullet and moving to D13, for my kids.
Whether you moved to condo or flat, you made the right choice. Our kidsí future is most important. I have to thank my parents for the huge emphasis they have placed on my education and will seek to repay them whenever I can.
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Old 28-07-2019, 02:00 PM   #1538
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U mean this ec right?
HDB to ec to DBsS to pc to me a
Is never a downgrade

Of coz the upcoming Sengkang central residence launch price shall decide the winner for Sengkang Punggol and not to forget its sales closure

Yes, I mean this Sumang Walk EC is a location downgrade for me.
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Old 28-07-2019, 02:20 PM   #1539
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In your case, I would advise against setting a 1.5mil Budget for property then. Draining all savings is quite a scary thing.

I have a loan that took me 20 years to pay off. But at the same time, I decided to also set aside enough funds to tide me through a few years in case, touch wood, out of job or other emergency uses.
Of cos, like your case, I could have chose to pay off my loan or shortened my loan tenure by draining part/all my savings but Iím decided not to do that.
You never know when you need cash.
That's why I didn't go for balloting.

But I also like go see see showflats 😂
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Old 28-07-2019, 02:24 PM   #1540
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That's why I didn't go for balloting.

But I also like go see see showflats 😂
You did the right thing by not get easily swayed by others into buying.
Different people, different financial situation.
Only buy when one feels comfortable, not compelled.

Last edited by NiShiZhu; 28-07-2019 at 02:26 PM..
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Old 28-07-2019, 02:34 PM   #1541
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U n Yr kids deserve the good environment a Condo provides

Go get an EC or pte condo now!!!

Never say never. I did hit 300k+ by age 30. Solo.
But work 80+ hours a week for that.

Now I relax liao, plus expenses up a lot due to children. Cannot achieve same results le.
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Old 28-07-2019, 02:35 PM   #1542
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That's why I didn't go for balloting.

But I also like go see see showflats 😂
I like visiting showflats but when out of budget, I also feel compelled not to waste my agent time, though he is always very reassuring that itís not a waste of time.

Maybe there should be a thread that compiles the latest showflat pics. Anyone has more of piermont grand ones?
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Old 28-07-2019, 03:26 PM   #1543
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Is todayís sale going to hit another 100 units?
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Old 28-07-2019, 03:33 PM   #1544
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Old 28-07-2019, 04:02 PM   #1545
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Momoeagle has missed out the opportunity to upgrade to EC, no?
Cheap ECs were a dime a dozen only 1-2 years ago
ago.
It is a nice stepping stone for many hdb couples.
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