Buying a condo before 30

[Kamikaze55555]

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.

yes! looking forward to the day when i can be like you!

 

[andyhtc]

The proportion of 1-bedders is coming down due to the URA rule on 17 Jan 2019.

URA move to cap shoebox units may lead to lower condo prices

https://www.straitstimes.com/singap...ble-units-in-private-flats-and-condos-outside

 

[rahcslil]

i think it is possible-you just got to save for the downpayment. for what it's worth i'm 26 this year and i purchased a 1+S, still BUC at the moment. it's progressive payment for new launches too so that can help. Budget wisely and be clear of your expenditure and factor in at least 6 months buffer.

 

[1993newbie]

Congrats on your home purchase!

i think it is possible-you just got to save for the downpayment. for what it's worth i'm 26 this year and i purchased a 1+S, still BUC at the moment. it's progressive payment for new launches too so that can help. Budget wisely and be clear of your expenditure and factor in at least 6 months buffer.

 

[rahcslil]

thank you fellow 1993

 

[1993newbie]

Ohhh yes , we same age! HAHAHHA

thank you fellow 1993

 

[Kamikaze55555]

Ohhh yes , we same age! HAHAHHA

hahaha im also 1993 shall join everyone soon!

 

[Kamikaze55555]

i think it is possible-you just got to save for the downpayment. for what it's worth i'm 26 this year and i purchased a 1+S, still BUC at the moment. it's progressive payment for new launches too so that can help. Budget wisely and be clear of your expenditure and factor in at least 6 months buffer.

how long did you save for the downpayment if you dont mind me asking? thank you!

 

[ohmyglob]

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

Same here! Just myself so no need a big house. Mine is BUC and it’s 45 sqm

how long did you save for the downpayment if you dont mind me asking? thank you!

For me, I’m in the workforce for 5 years but I saved a lot during study days doing side jobs.

i think it is possible-you just got to save for the downpayment. for what it's worth i'm 26 this year and i purchased a 1+S, still BUC at the moment.

I can’t afford 1+S. I think it depends on the property and on which floor too

 

[rahcslil]

i've been working for abt 5 yrs already. but i'm having help and not doing this alone, property under my name, but financially me & my SO so our income pool and resource is of course higher than just 1 person saving... due to restrictions we have to go for pte ( in case ppl wondering why we never BTO or buy HDB haha) space wise, its fine for us

 

[towkayray]

i've been working for abt 5 yrs already. but i'm having help and not doing this alone, property under my name, but financially me & my SO so our income pool and resource is of course higher than just 1 person saving... due to restrictions we have to go for pte ( in case ppl wondering why we never BTO or buy HDB haha) space wise, its fine for us

Why your wifey willing to let you buy under your name?

 

[towkayray]

I'm younger than all of you but already have more money

 

[annetyu]

I'm younger than all of you but already have more money

I'm 21. Are you younger than me? How much do you have?

 

[Merg91]

Wah, all 年少有为.

Singapore got hope.

 

[RyanJ]

young folks here so driven and motivated

 

[rahcslil]

Why your wifey willing to let you buy under your name?

trust mah, why not. leave the other name free for another property in future also in case we want to expand our property portfolio- no need to decouple etc to avoid ABSD. if at most lets say we can't saved enough for downpayment for another home and want to start a family, then still can sell and we can get a bigger place with both our names.

we do this way we have more flexibility and opportunity

 

[1993newbie]

Hey hey! Hi there 1993 club! Slowly but surely. U can do it!

hahaha im also 1993 shall join everyone soon!

 

[notsotechben]

Bros and sis under 30, would you go for PC if your parents will help financially? Maybe 50%?

For 1.5m property, have to consider paying at least 4k a month plus sinking/maintenance fees.... I dunno if me and my partner can tahan

 

[runforyourlife]

No matter how much pay u have is not impt, without some other forms of monies from parents you’ll not be able to afford a condo at 30. And affording doesn’t mean down payment only.

 

[notsotechben]

Hey there, have u and partner done your loan assessment (IPA) to know how much loan both of u can get based on both income.

With that you will know how much loan you can get for the 75% and u can have a rough estimation of your Budget for the condo.

The Downpayment is 25%. Bank usually need 2 years of income assessment to asses your IPA.

I bought mine after 2 years of working full time. On the first year, my loan amount isn’t that high hence I didn’t jump into buying.

Thanks, we are planning to meet a banker about the loan soon. Downpayment our parents will cover. I guess we are uncomfortable with having the burden of the huge purchase price at the beginning (not only have to pay back bank, still need to pay parents too)