Buying a condo before 30

[momoeagle]

Now interest rate so low why u pay off loan? You should store cash and invest when rates are low then pay off of it increases

I did consider what you said, having some small amount in equities, and my wife having in some corporate bonds.

But the amount of cash thrown in is too low and insignificant to be considered to be useful for anything meaningful, so ok lor.

And if we are thinking of the possibility of getting a 2nd property, we need the cash anyway. Short term investments usually don't yield too much, so just throw into the property as though it is a fixed deposit lor.

 

[momoeagle]

can I add a point?
buying any 99YL property new launch will sure save money from rental over 99yrs span geh
yar so property Is 100% safe investment so to say

True true.

My original point was a combination of factors could make it unsafe. But it is quite unlikely usually, though not impossible.

 

[Kamikaze55555]

hello all, I am back on my own thread! It's been nearly 2 years since I started and I have crossed the 6fig mark in terms of CPF+cash. Any recommendations on ideal 1bedroom or 1+1 units to enter in the upcoming months? Appreciate it!

 

[Broadwalk]

hello all, I am back on my own thread! It's been nearly 2 years since I started and I have crossed the 6fig mark in terms of CPF+cash. Any recommendations on ideal 1bedroom or 1+1 units to enter in the upcoming months? Appreciate it!

Do you think you would be happier and has more disposal sum if you go with HDB flat? Singapore future is grim especially it is plague by the covid coupled with awful management by the incumbent.

 

[NiShiZhu]

hello all, I am back on my own thread! It's been nearly 2 years since I started and I have crossed the 6fig mark in terms of CPF+cash. Any recommendations on ideal 1bedroom or 1+1 units to enter in the upcoming months? Appreciate it!

Huh? Cross 6 figures (cpf + cash) means how much? If 100k only, how to buy?
If 900k cfm can buy
Very big difference though both are 6 digits.

 

[Kamikaze55555]

Huh? Cross 6 figures (cpf + cash) means how much? If 100k only, how to buy?
If 900k cfm can buy
Very big difference though both are 6 digits.

just looking for a 1bedder

 

[NiShiZhu]

just looking for a 1bedder

Even for a 1 bedder at 600k u also need to fork out more than 162k (25% + stamp).
We dunno how much exactly your 6 figures so can’t really advise further.

 

[Okuhida]

hello all, I am back on my own thread! It's been nearly 2 years since I started and I have crossed the 6fig mark in terms of CPF+cash. Any recommendations on ideal 1bedroom or 1+1 units to enter in the upcoming months? Appreciate it!

I just went on PropertyGuru and sort by lowest price condos out of curiosity. Excluding the 60 years lease Hillford, the cheapest condo unit is probably about $500K. You’ll need $134,600 for 25% downpayment and stamp duty, plus another $3K for legal fees and valuation. So $140K bare minimum but there is really not much choices at that price point. I see you are still few years from 30yo though so good luck and all the best!

 

[hwmook]

just looking for a 1bedder

I don't think its affordable for you if you only have just $100k CPF + cash. You are 27 now so try to save up for another 2 more years so that you can buy a condo before 30.

 

[pricklepantz]

how low can a 1bedder go due to covid ? below500k still not possible right?

 

[1993newbie]

Shoebox Units: Key Factors You Need To Consider

https://stackedhomes.com/editorial/...nstagram_bio&utm_campaign=milkshake#gs.8cnpnv

 

[lucario1806]

Binge read from page 1 to 16 in 1hr. This thread is really insightful and full of diverse perspectives! '95 kid here, glad to be able to pick up tidbits of knowledge from everyone in the entire thread.

@Kamikaze55555 really admire your determination and progress thus far! You seem to know what you're doing and exactly what you want. Plus the advice seems solid here, do continue to keep them in mind. You will get there, keep at it!

 

[yamashita]

how low can a 1bedder go due to covid ? below500k still not possible right?

From PropertyGuru, possible. Are you ok with the small space though - it's less than 400 sqft.

https://www.propertyguru.com.sg/listing/22666425/for-sale-the-hillford

 

[The_Davis]

hello all, I am back on my own thread! It's been nearly 2 years since I started and I have crossed the 6fig mark in terms of CPF+cash. Any recommendations on ideal 1bedroom or 1+1 units to enter in the upcoming months? Appreciate it!

Congrats! I believe you will get there 1 day!

Maybe another year you can gather sufficient amount for down payment.

 

[vorpal]

Very inspiring thread, keep it up!

 

[Kamikaze55555]

hello! thanks all for your responses! I am reading and appreciate all advices.

It really wasn't an easy journey while drawing a monthly fixed pay and there were many moments when I wanted to give up. My peers are all getting married with BTOs while here I am saving for a shoebox unit in SG. However, the sense of satisfaction I got as I inched closer to my desired amount year after year is immensely rewarding and I urge all young people reading this thread to start a savings goal and stick to it. Even if you don't end up buying a condo, having 100K in cash is something not many can boast of at 30 and will definitely serve you well in the future.

I will keep saving and update again!

 

[momoksan]

hello! thanks all for your responses! I am reading and appreciate all advices.

It really wasn't an easy journey while drawing a monthly fixed pay and there were many moments when I wanted to give up. My peers are all getting married with BTOs while here I am saving for a shoebox unit in SG. However, the sense of satisfaction I got as I inched closer to my desired amount year after year is immensely rewarding and I urge all young people reading this thread to start a savings goal and stick to it. Even if you don't end up buying a condo, having 100K in cash is something not many can boast of at 30 and will definitely serve you well in the future.

I will keep saving and update again!

I suggest you consider also the holding power to serve through the SSD in case something happen to your source of income.