Buying a condo before 30

[RMCWMR]

If you are on a tight budget my advise is buy new condo. Even if its a 1 bedder. I tell you the amount you can save from maintenance of your unit is substantial. I have seen older condo with lots of issues and alot of items needs replacing. End up not much different in pricing compared to new

 

[dumbothecute]

The people I know who stay in condo usually earning more than 10k a month. It might be a bit ambitious to get a condo before 30 with 4k a month.

My aunt's condo at redhill very nice, near mrt so very convenient. I especially like the light switches in her house. It's the flat and noiseless kind, I think from schneider electric. There're even jacuzzi tubs in one of the free spaces of the condo

I have that schneider electric too. But I don't know how to use and my bloody agent nv teach me. Intercom also nv teach.

I gonna change agent the moment I have the chance.

 

[dumbothecute]

How much % of salary are you guys using to service the mortgage? I am not comfortable tanking like 50% which includes maintenance fees.

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21% of my gross salary . Cos my salary is low

Anyway I still have cash flow of few hundreds after servicing mortgage , property tax and maintenance fee.

Intend to pay with cpf for first 2 years. then save up, refinance for lower mortgage and pay with cash after that.

 

[tomicaguy]

$4k enough to buy a 1 bedder.

4K even for a 600k 1BR is really tight, unless you can cover more than 25% down-payment.

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[Merg91]

Aiyoh. Don't be like that leh.

Married people also usually live longer.

hahaha i want to have something that is really mine without having to rely on another person, even if it takes me longer to get there!

 

[dumbothecute]

Aiyoh. Don't be like that leh.

Married people also usually live longer.

Did you include the number of people who got murdered by their own spouse?

 

[Merg91]

OMG.
Happened to many of those couples you know?
Divorces happen for sure.
https://time.com/5410260/marriage-helps-you-live-longer/

Did you include the number of people who got murdered by their own spouse?

 

[RMCWMR]

4K even for a 600k 1BR is really tight, unless you can cover more than 25% down-payment.

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Not really la. Assuming price is $600k. 30 year loan with LTV at 75% and interest rate of 2.3% is about $17++ per month. You can use CPF about $700-$800 p.m. and top up about $1k. Still have $2.2k p.m. cash. Quite comfy if you are single and no vices.

 

[Merg91]

$600k must be a real tiny new condo unit.
These are usually the most ex in psf in the project.

 

[1993newbie]

Lowest quantum in the project tho. Ideal for singles. Within reach for singles. If not wait till 35 just to BTO or resale very Long le.

By then climbing the property ladder is a different story.

Age is another factor.

If one can afford at a younger age, why not? If one goes beyond the norm, why should we suppress him/her down for buying a condo at a young age?

Pretty sure proper calculations has been done before purchase.
Singles do contribute to the economy too.

 

[1993newbie]

Highest PSF but the first to be sold out at most new launches..

 

[Merg91]

No lah.
Sure single can buy.
Never been to a <500 Sq ft home before.

 

[1993newbie]

You’re always welcome to drop by my place! Show u around. Within 1 minute can finish viewing. Hehe

No lah.
Sure single can buy.
Never been to a <500 Sq ft home before.

 

[Merg91]

The quantum lor.
Not because the buyers love them.
But URA has clamped down on tiny units.

Highest PSF but the first to be sold out at most new launches..

 

[Merg91]

You don't need much space to have xxx.
With a straight face, she declared: "You need a very small space to do it."
Josephine Teo

You’re always welcome to drop by my place! Show u around. Within 1 minute can finish viewing. Hehe

 

[Kamikaze55555]

4K even for a 600k 1BR is really tight, unless you can cover more than 25% down-payment.

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i think $4K is quite tight but that was my salary last year, I am at $6K now so I think it should be okay as long as I save up for the downpayment.

 

[Kamikaze55555]

You’re always welcome to drop by my place! Show u around. Within 1 minute can finish viewing. Hehe

I am happy with a small unit, easy to clean up and manage too! If I get married one day, will just upgrade I guess

 

[dumbothecute]

i think $4K is quite tight but that was my salary last year, I am at $6K now so I think it should be okay as long as I save up for the downpayment.

How to get 2 k raise? You changed company?

 

[1993newbie]

Hi-5 bro. Yes Super easy to clean up and manage. It’s really ideal for singles honestly.

My neighbours are mostly singles too. Only some stays with a partner.

I am happy with a small unit, easy to clean up and manage too! If I get married one day, will just upgrade I guess

 

[Kamikaze55555]

How to get 2 k raise? You changed company?

nope, produce results and work smart