Housing Dilemma

[coolhead]

not sure if people are genuinely concerned about TS's well being, or just jelly at his job stability and relatively high income. I have uni classmates applying for 600k BTO in mature estates too. Potentially ECs even. And they are not even working yet.

Buy something which you like and can afford comfortably. Based on what I read, EC seems borderline OK for you guys. However, if you want a larger safety margin, then go for a 5 room BTO. As long as you are employed (and I believe your job is very stable given how u described it), you wont have troubles committing to the mortgage.

While being financially prudent is good as it reduces risks, sometimes taking on more controlled risks will yield a far greater return.

I'm same age as TS. Got bidadari for 500k 4 room bto, expected to be ready in 2019-2020. Already made our 5% downpayment and with all those stamp fees, misc fees etc.
Currently have combined 100k in our cpf. savings about 80k cash and combined income of 8.3k. Assuming we remain in our current jobs at no increment which is a middle-risk scenario, by the time we get our flats in 2 years, it will be about 140k cpf and assume we can save up to 110k cash. That's 250k combined. Put everything into housing, we still have to fork out (95% of 500k) - 250K = 225K. I am still thinking if we have over-committed on our debt. I'm thankful I never go into 5 room etc. Just need a good peaceful sleep at night in the quite worst case scenario one of us are unemployed, still can survive by being frugal...

TS, u r a logical person. Everything is logically and fundamentally sound until **** hits the fan. SInce you mentioned you are in legal, there will always be loopholes to get around things and not everything is 100% certain in future. Make way for uncertainty. Right now, you are almost on the verge of over-promising and under delivering. The right way is to under promise and over deliver, then you can be a happier person as well. Leverage is necessary but don't over-leverage, which I think I am!

 

[Gixxerfied]

not sure if people are genuinely concerned about TS's well being, or just jelly at his job stability and relatively high income. I have uni classmates applying for 600k BTO in mature estates too. Potentially ECs even. And they are not even working yet.

Buy something which you like and can afford comfortably. Based on what I read, EC seems borderline OK for you guys. However, if you want a larger safety margin, then go for a 5 room BTO. As long as you are employed (and I believe your job is very stable given how u described it), you wont have troubles committing to the mortgage.

While being financially prudent is good as it reduces risks, sometimes taking on more controlled risks will yield a far greater return.

We always advise don't be overly confident of the corporate world..I have lawyer friends who work so hard to become one, only to quit and become a events coordinator after being in legal for 2-3 years..

As for your uni friend, same thing goes..srsly many grads thinks when they are schooling that everyone owes them a living and got degree very satki or aiya, we both grad 600k bto no worries one..our income smelly smelly this figure when we start working..

To me, start work first then talk..

 

[iphone1s]

We always advise don't be overly confident of the corporate world..I have lawyer friends who work so hard to become one, only to quit and become a events coordinator after being in legal for 2-3 years..

As for your uni friend, same thing goes..srsly many grads thinks when they are schooling that everyone owes them a living and got degree very satki or aiya, we both grad 600k bto no worries one..our income smelly smelly this figure when we start working..

To me, start work first then talk..

da masta have spoken

 

[justforipad]

Ok la. Actually less space, so you also not so tempted to buy stuff to stockpile. Sgrean favourite pastime. 'I may need this, I may need that'. I also guilty of it lol. Quality of life not really reflected in size or type of house. More importantly is your family, friends and how you grow as a person through your life ba.

4 rooms actually still quite comfortable for TS's salary projection. 5 room unless in non-mature, I won't really advice him to get as too expensive already in mature lol.

not sure if people are genuinely concerned about TS's well being, or just jelly at his job stability and relatively high income. I have uni classmates applying for 600k BTO in mature estates too. Potentially ECs even. And they are not even working yet.

Buy something which you like and can afford comfortably. Based on what I read, EC seems borderline OK for you guys. However, if you want a larger safety margin, then go for a 5 room BTO. As long as you are employed (and I believe your job is very stable given how u described it), you wont have troubles committing to the mortgage.

While being financially prudent is good as it reduces risks, sometimes taking on more controlled risks will yield a far greater return.

We really like a property that's new, ie. BTO, at least a 4 room and finally, definitely somewhere near to work area (CBD) as we will be spending a good 12-15 hours of our daily lives working.

Whilst the economy is generally in a downturn, and our industry's average starting pay has dropped to around 3.5k PCM, we are still optimistic that we can afford our 4 room BTO.

We will only consider EC options closer to 2020-2021, but of course the 200k DP will still be an issue then. Preferably we will get a BTO, and we will be trying for the popular options through to 2020. As far as possible, we want to make full use of the grants available and to obtain a public housing as our first property while looking longer term, invest in private properties overseas to generate our passive income.

I'm same age as TS. Got bidadari for 500k 4 room bto, expected to be ready in 2019-2020. Already made our 5% downpayment and with all those stamp fees, misc fees etc.
Currently have combined 100k in our cpf. savings about 80k cash and combined income of 8.3k. Assuming we remain in our current jobs at no increment which is a middle-risk scenario, by the time we get our flats in 2 years, it will be about 140k cpf and assume we can save up to 110k cash. That's 250k combined. Put everything into housing, we still have to fork out (95% of 500k) - 250K = 225K. I am still thinking if we have over-committed on our debt. I'm thankful I never go into 5 room etc. Just need a good peaceful sleep at night in the quite worst case scenario one of us are unemployed, still can survive by being frugal...

TS, u r a logical person. Everything is logically and fundamentally sound until **** hits the fan. SInce you mentioned you are in legal, there will always be loopholes to get around things and not everything is 100% certain in future. Make way for uncertainty. Right now, you are almost on the verge of over-promising and under delivering. The right way is to under promise and over deliver, then you can be a happier person as well. Leverage is necessary but don't over-leverage, which I think I am!

Thank you. Our first choice is of course, still a 4 room bto in one of the mature estates, can't make up our mind whether to go for the upcoming bidadari or geylang one. Gonna be taking a HDB loan and will need to place 10% deposit, estimated around 50k + misc fees.

And that's precisely why I emphasized on whether we are eligible for grants. Should the HDB and CPF board decide to award us the grant, we will only need to fork out cash for the misc fees. As some of the enthusiastic members here have already mentioned, CASH is King while DEBT is good. Thus with grants, we will get to preserve our cash and I will not need to liquidate my stock holdings. At the same time, we will be able to incur some healthy debt to purchase our first property.

Assuming it takes 4 years from may 2017 to complete, we should take our keys in May 2021. By then, we would have been working for around 2.5 years and will have $60k in our CPF combined to be wiped out for the leasehold. Cash wise probably way lesser, as we believe that the wedding will wipe out most if not all of our cash.

 

[nemo88]

We always advise don't be overly confident of the corporate world..I have lawyer friends who work so hard to become one, only to quit and become a events coordinator after being in legal for 2-3 years..

)

So true. Two of my good friends quit law within a few years, one go to work in animal shelter, another is a freelance copywriter. Even better one of my secondary school best friends forced by parents to study law, graduate NUS and did not even take the bar! She said the deal was only to study it not to be a lawyer. Poor thing also.

 

[coolhead]

We really like a property that's new, ie. BTO, at least a 4 room and finally, definitely somewhere near to work area (CBD) as we will be spending a good 12-15 hours of our daily lives working.

Whilst the economy is generally in a downturn, and our industry's average starting pay has dropped to around 3.5k PCM, we are still optimistic that we can afford our 4 room BTO.

We will only consider EC options closer to 2020-2021, but of course the 200k DP will still be an issue then. Preferably we will get a BTO, and we will be trying for the popular options through to 2020. As far as possible, we want to make full use of the grants available and to obtain a public housing as our first property while looking longer term, invest in private properties overseas to generate our passive income.



Thank you. Our first choice is of course, still a 4 room bto in one of the mature estates, can't make up our mind whether to go for the upcoming bidadari or geylang one. Gonna be taking a HDB loan and will need to place 10% deposit, estimated around 50k + misc fees.

And that's precisely why I emphasized on whether we are eligible for grants. Should the HDB and CPF board decide to award us the grant, we will only need to fork out cash for the misc fees. As some of the enthusiastic members here have already mentioned, CASH is King while DEBT is good. Thus with grants, we will get to preserve our cash and I will not need to liquidate my stock holdings. At the same time, we will be able to incur some healthy debt to purchase our first property.

Assuming it takes 4 years from may 2017 to complete, we should take our keys in May 2021. By then, we would have been working for around 2.5 years and will have $60k in our CPF combined to be wiped out for the leasehold. Cash wise probably way lesser, as we believe that the wedding will wipe out most if not all of our cash.

Since both of u are below 30years if u apply for may 2017 bto, down payment is only 5% instead of 10%.

 

[kyteo79]

We really like a property that's new, ie. BTO, at least a 4 room and finally, definitely somewhere near to work area (CBD) as we will be spending a good 12-15 hours of our daily lives working.

Whilst the economy is generally in a downturn, and our industry's average starting pay has dropped to around 3.5k PCM, we are still optimistic that we can afford our 4 room BTO.

We will only consider EC options closer to 2020-2021, but of course the 200k DP will still be an issue then. Preferably we will get a BTO, and we will be trying for the popular options through to 2020. As far as possible, we want to make full use of the grants available and to obtain a public housing as our first property while looking longer term, invest in private properties overseas to generate our passive income.



Thank you. Our first choice is of course, still a 4 room bto in one of the mature estates, can't make up our mind whether to go for the upcoming bidadari or geylang one. Gonna be taking a HDB loan and will need to place 10% deposit, estimated around 50k + misc fees.

And that's precisely why I emphasized on whether we are eligible for grants. Should the HDB and CPF board decide to award us the grant, we will only need to fork out cash for the misc fees. As some of the enthusiastic members here have already mentioned, CASH is King while DEBT is good. Thus with grants, we will get to preserve our cash and I will not need to liquidate my stock holdings. At the same time, we will be able to incur some healthy debt to purchase our first property.

Assuming it takes 4 years from may 2017 to complete, we should take our keys in May 2021. By then, we would have been working for around 2.5 years and will have $60k in our CPF combined to be wiped out for the leasehold. Cash wise probably way lesser, as we believe that the wedding will wipe out most if not all of our cash.

You come to forum to ask if you can get grant ? you in legal industry ?
This is why something is very wrong in our society... should you not get the right answers via the right channels ?

These days kids are very good got billion stock portfolio, drive lambo, eat atas restuarant, branded stuffs, with gf or wife buy big house get max grant.
all the money saved dun buy bto if no grant but spend on wedding ...

earn salary no need give parents. but su su su tax payers money for grant. you stay near parents si boh ? every day walk to parent place eat free huh ? Su su su ...

Talk with no sense imo... waste time thread.

 

[SecretAgent]

Should just change the thread title to.. How to get grants for HDB?..

The answers can be found within this thread already. Some very clear headed and conscience ones already said.. If you are not one of the needies, don't queue in line for the soup.

You can still try, no one to stop you. But you are likely to get rejected. Try and learn it first hand yourself to find out

Sent from ..... using GAGT

 

[iphone1s]

We really like a property that's new, ie. BTO, at least a 4 room and finally, definitely somewhere near to work area (CBD) as we will be spending a good 12-15 hours of our daily lives working.

Whilst the economy is generally in a downturn, and our industry's average starting pay has dropped to around 3.5k PCM, we are still optimistic that we can afford our 4 room BTO.

We will only consider EC options closer to 2020-2021, but of course the 200k DP will still be an issue then. Preferably we will get a BTO, and we will be trying for the popular options through to 2020. As far as possible, we want to make full use of the grants available and to obtain a public housing as our first property while looking longer term, invest in private properties overseas to generate our passive income.

Thank you. Our first choice is of course, still a 4 room bto in one of the mature estates, can't make up our mind whether to go for the upcoming bidadari or geylang one. Gonna be taking a HDB loan and will need to place 10% deposit, estimated around 50k + misc fees.

And that's precisely why I emphasized on whether we are eligible for grants. Should the HDB and CPF board decide to award us the grant, we will only need to fork out cash for the misc fees. As some of the enthusiastic members here have already mentioned, CASH is King while DEBT is good. Thus with grants, we will get to preserve our cash and I will not need to liquidate my stock holdings. At the same time, we will be able to incur some healthy debt to purchase our first property.

Assuming it takes 4 years from may 2017 to complete, we should take our keys in May 2021. By then, we would have been working for around 2.5 years and will have $60k in our CPF combined to be wiped out for the leasehold. Cash wise probably way lesser, as we believe that the wedding will wipe out most if not all of our cash.

Tambi, I think you need to go through the baptism of fire to understand certain things.

To get a BTO is already a challenge, let alone in the mature estate. Have you gone through the entire housing thread? Some folks who insist on getting a unit in mature estate for certain reasons took 4 years to ballot and still not able to get a number, let alone a lousy number. I can see that you have all the numbers flying around, I am sure you are able to calculate the number of times they have tried. (And they grew old in with HDB rejections). Some gre desperate such as the wife is pregnant while holding 2 children in hand. They have no other options but to get the schemes to help them to get a better chance to be in the running number, NOT NESSESARY A GOOD NUMBER.

You want to get these grants that grants in your 4room BTO. To move to a condo, do you know that you need to pay back the accrued interest to CPF? I am sure your maths is good.

Anyways I think you have not met reality. You are still in a dreamland.

We look forward to your journey of getting your BTO.


And like I always say, prepare many $10


but then again, you could be lucky

 

[iphone1s]

We will only consider EC options closer to 2020-2021, but of course the 200k DP will still be an issue then. Preferably we will get a BTO, and we will be trying for the popular options through to 2020. As far as possible, we want to make full use of the grants available and to obtain a public housing as our first property while looking longer term, invest in private properties overseas to generate our passive income.




Lets take a look at the timeline.

Lets assume you jin lucky. you got a good number. you want this grant that grant, not knowing u have to pay back when you sell off your 4room..

And now u talking about private properties. if you get a good number this july. you need to wait 5 years for the flat to be built, assuming the govt go back on their promises la. don't be optimistic for everything. give some buffer. you still need 5 years MOP.

so all in all, u could be set back for a good 10 years before having your first private property. I could be wrong. but I am sure for the first 5 years while waiting for your 4 room, you can't have a overseas property. unless you can pay cash, but seeing your pattern, I am sure you would use a bank loan. And that's it, viola, HDB will know and kantong your house.

x (don't know when you will get a number and whether you like the unit or not + 5 years building time + 5 years MOP.

You are still disillusioned. You are from the legal industry? Check your terms well to bring you feet back to the ground first.

 

[justforipad]

You come to forum to ask if you can get grant ? you in legal industry ?
This is why something is very wrong in our society... should you not get the right answers via the right channels ?

These days kids are very good got billion stock portfolio, drive lambo, eat atas restuarant, branded stuffs, with gf or wife buy big house get max grant.
all the money saved dun buy bto if no grant but spend on wedding ...

earn salary no need give parents. but su su su tax payers money for grant. you stay near parents si boh ? every day walk to parent place eat free huh ? Su su su ...

Talk with no sense imo... waste time thread.

Tambi, I think you need to go through the baptism of fire to understand certain things.

To get a BTO is already a challenge, let alone in the mature estate. Have you gone through the entire housing thread? Some folks who insist on getting a unit in mature estate for certain reasons took 4 years to ballot and still not able to get a number, let alone a lousy number. I can see that you have all the numbers flying around, I am sure you are able to calculate the number of times they have tried. (And they grew old in with HDB rejections). Some gre desperate such as the wife is pregnant while holding 2 children in hand. They have no other options but to get the schemes to help them to get a better chance to be in the running number, NOT NESSESARY A GOOD NUMBER.

You want to get these grants that grants in your 4room BTO. To move to a condo, do you know that you need to pay back the accrued interest to CPF? I am sure your maths is good.

Anyways I think you have not met reality. You are still in a dreamland.

We look forward to your journey of getting your BTO.


And like I always say, prepare many $10


but then again, you could be lucky

I really do not get why you two are just bashing my ideals all the way in this thread. Different people have different ideals, I wouldn't impose mine on yours nor I will insist that my way is the correct way or yours is wrong. I do not think that there's anything wrong with obtaining grants that the government has in place for its citizens if I'm eligible. You may think differently but that's your own opinion and one that I will not further any arguments in opposition of.

I am of course aware that getting a good BTO is as easy as striking the lottery. That is also the reason why I've set the may/june 2020 window as my final window in going for these popular estates. We have ample space at our parents' place to live in for now but would really like our own place as soon as is feasible. So yes, we will DIE DIE also only want the good estates all the way till the may/june 2020 window. If by then we no longer qualify for the grants, so be it. We will just have to find other ways to get grants.

I am aware of the "double taxation" when taking out a HDB loan. With that said, we are willing to stay on in our BTO if the location is good while amassing the funds necessary for a private property purchase. Well, that's an option but we will consider its feasibility only at a later stage.

 

[justforipad]

We will only consider EC options closer to 2020-2021, but of course the 200k DP will still be an issue then. Preferably we will get a BTO, and we will be trying for the popular options through to 2020. As far as possible, we want to make full use of the grants available and to obtain a public housing as our first property while looking longer term, invest in private properties overseas to generate our passive income.




Lets take a look at the timeline.

Lets assume you jin lucky. you got a good number. you want this grant that grant, not knowing u have to pay back when you sell off your 4room..


And now u talking about private properties. if you get a good number this july. you need to wait 5 years for the flat to be built, assuming the govt go back on their promises la. don't be optimistic for everything. give some buffer. you still need 5 years MOP.

so all in all, u could be set back for a good 10 years before having your first private property. I could be wrong. but I am sure for the first 5 years while waiting for your 4 room, you can't have a overseas property. unless you can pay cash, but seeing your pattern, I am sure you would use a bank loan. And that's it, viola, HDB will know and kantong your house.

x (don't know when you will get a number and whether you like the unit or not + 5 years building time + 5 years MOP.

You are still disillusioned. You are from the legal industry? Check your terms well to bring you feet back to the ground first.

Simply put, you've misunderstood me.

Longer term = at least 10-15 years from now.

 

[Yevin227]

I'm same age as TS. Got bidadari for 500k 4 room bto, expected to be ready in 2019-2020. Already made our 5% downpayment and with all those stamp fees, misc fees etc.
Currently have combined 100k in our cpf. savings about 80k cash and combined income of 8.3k. Assuming we remain in our current jobs at no increment which is a middle-risk scenario, by the time we get our flats in 2 years, it will be about 140k cpf and assume we can save up to 110k cash. That's 250k combined. Put everything into housing, we still have to fork out (95% of 500k) - 250K = 225K. I am still thinking if we have over-committed on our debt. I'm thankful I never go into 5 room etc. Just need a good peaceful sleep at night in the quite worst case scenario one of us are unemployed, still can survive by being frugal...

TS, u r a logical person. Everything is logically and fundamentally sound until **** hits the fan. SInce you mentioned you are in legal, there will always be loopholes to get around things and not everything is 100% certain in future. Make way for uncertainty. Right now, you are almost on the verge of over-promising and under delivering. The right way is to under promise and over deliver, then you can be a happier person as well. Leverage is necessary but don't over-leverage, which I think I am!

Congrats on getting bidadari! Kudos to you and your partner for saving so much and thinking for the future. By MOP you will have an (almost) fully paid flat, and can start accumulating ammo for your second property

 

[Yevin227]

We really like a property that's new, ie. BTO, at least a 4 room and finally, definitely somewhere near to work area (CBD) as we will be spending a good 12-15 hours of our daily lives working.

Whilst the economy is generally in a downturn, and our industry's average starting pay has dropped to around 3.5k PCM, we are still optimistic that we can afford our 4 room BTO.

We will only consider EC options closer to 2020-2021, but of course the 200k DP will still be an issue then. Preferably we will get a BTO, and we will be trying for the popular options through to 2020. As far as possible, we want to make full use of the grants available and to obtain a public housing as our first property while looking longer term, invest in private properties overseas to generate our passive income.



Thank you. Our first choice is of course, still a 4 room bto in one of the mature estates, can't make up our mind whether to go for the upcoming bidadari or geylang one. Gonna be taking a HDB loan and will need to place 10% deposit, estimated around 50k + misc fees.

And that's precisely why I emphasized on whether we are eligible for grants. Should the HDB and CPF board decide to award us the grant, we will only need to fork out cash for the misc fees. As some of the enthusiastic members here have already mentioned, CASH is King while DEBT is good. Thus with grants, we will get to preserve our cash and I will not need to liquidate my stock holdings. At the same time, we will be able to incur some healthy debt to purchase our first property.

Assuming it takes 4 years from may 2017 to complete, we should take our keys in May 2021. By then, we would have been working for around 2.5 years and will have $60k in our CPF combined to be wiped out for the leasehold. Cash wise probably way lesser, as we believe that the wedding will wipe out most if not all of our cash.

Here's a few tips from me regarding your questions.

1) Housing Type: 4-room in mature, either bidadari OR geylang are both highly competitive. I will be going for geylang as it's right beside the MRT, but choose your poison. Both are relatively close to CBD if via public transport. (circle line) We might even be neighbours in the near future

2) Downpayment: Since you and your partner are below 30, i think you are eligible for staggered deposits (5% at point of choosing, 5% at point of collection).

Go read this link for more info. http://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/staggered-downpayment-scheme

Hope this alleviates some of the downward pressure on your finances.

3) Grants: I do not think you have any chances, with your current state of employment for any grants. HDB requires a full 12 months of employment of any one party at the point of application to be eligible for grant consideration. For example, if you were to apply for the May 2017 exercise, you will have to provide NOAs and / or CPF contribution histories from May 2016 - May 2017. Hope this is clear. More info is on the HDB grant website.

Honestly, if i were you, I will forget about applying for the grants - a huge waste of time.

Liquidate your stock holdings (if you have 25 - 30k worth at least), and hold them in a FD for now. You'll need to pay it 3-6 months from the point of successful balloting. (Late 2017)

4) Completion time: No way your flat is ready in May 2021. The average construction time is 6 years for BTOs. Looking at the newest clementi launch, it is forecasted to be TOP-ed in Q1 2023. You can prepare for a Q3 / Q4 2023 should you be successful in the next exercise in May.

You might have to discuss with your partner to see if this fits into your timelines.

Good luck!

 

[iphone1s]

Simply put, you've misunderstood me.

Longer term = at least 10-15 years from now.

Jin gek sim talking to kids.

Anyway good luck to your bash on the mature estates. I have tried multiple times and some have tried 48 times, 3 months each apart, and still cant get.

Good luck.

 

[SecretAgent]

I do not think that there's anything wrong with obtaining grants that the government has in place for its citizensif I'm eligible.

Keyword here is 2 letter bro... IF!!!!

Anyway... now till 2020...

as another bro already says... prepare alot of $10....

You have already learn everything you need to know here... Go now.. go get your bto/EC/private property!! Go go go......

 

[SecretAgent]

Jin gek sim talking to kids.

Anyway good luck to your bash on the mature estates. I have tried multiple times and some have tried 48 times, 3 months each apart, and still cant get.

Good luck.

48 times balloting??!! Serious boh??!!!

don't kid xdd ok...

 

[kyteo79]

We will only consider EC options closer to 2020-2021, but of course the 200k DP will still be an issue then. Preferably we will get a BTO, and we will be trying for the popular options through to 2020. As far as possible, we want to make full use of the grants available and to obtain a public housing as our first property while looking longer term, invest in private properties overseas to generate our passive income.




Lets take a look at the timeline.

Lets assume you jin lucky. you got a good number. you want this grant that grant, not knowing u have to pay back when you sell off your 4room..

And now u talking about private properties. if you get a good number this july. you need to wait 5 years for the flat to be built, assuming the govt go back on their promises la. don't be optimistic for everything. give some buffer. you still need 5 years MOP.

so all in all, u could be set back for a good 10 years before having your first private property. I could be wrong. but I am sure for the first 5 years while waiting for your 4 room, you can't have a overseas property. unless you can pay cash, but seeing your pattern, I am sure you would use a bank loan. And that's it, viola, HDB will know and kantong your house.

x (don't know when you will get a number and whether you like the unit or not + 5 years building time + 5 years MOP.

You are still disillusioned. You are from the legal industry? Check your terms well to bring you feet back to the ground first.

Hallo ... he drive lambo use cash full cash ... u use iphone ? he use veratus .. u in hdb slums ? he take max grants get bto for his maid. he use full cash for overseas property like he use full cash for his billion stock portfolio.
++

what talk you ? go eat french fries lah ...

now school holiday

+++
if ts is in legal industry there will be many expert liao ... headhunted so he is the cream of corp. he dun have people to ask meh ? he know if he ask his mentors, sure kana laughed at ..
++

i fail maths in school so

year 1 - 3,500 x 13 months = 45,500 per year
year 2 - 3,500 + 15% = 3500+525 x 13 months = 52,325 per year
year 3 - 60,173.75
year 4 - 69199.81
year 5 - 79,579.78
Total : S$ 306,778.35
AVerage of 5 years : S$61,355.66 per year or about S$ 5,112.98 per months (bss 12 months) - did not basis it on 13 months on average but actually you are getting lesser.

Assuming what economist is right or bank or money expert : 1/3 goes to house = $1,704
CPF : assuming 1k per month means you left with S$ 4112.98

CAR : you want what car ? laywer drive bmw ? z4 or m3 ? installment ?
assume 3k ? no no no say 1.5k lah

Parents : 2k
Parent in law : ???
insurance : 700 per month ?


Balance : S$ ???

 

[handwritten past]

I really do not get why you two are just bashing my ideals all the way in this thread. Different people have different ideals, I wouldn't impose mine on yours nor I will insist that my way is the correct way or yours is wrong. I do not think that there's anything wrong with obtaining grants that the government has in place for its citizens if I'm eligible. You may think differently but that's your own opinion and one that I will not further any arguments in opposition of.

I am of course aware that getting a good BTO is as easy as striking the lottery. That is also the reason why I've set the may/june 2020 window as my final window in going for these popular estates. We have ample space at our parents' place to live in for now but would really like our own place as soon as is feasible. So yes, we will DIE DIE also only want the good estates all the way till the may/june 2020 window. If by then we no longer qualify for the grants, so be it. We will just have to find other ways to get grants.

I am aware of the "double taxation" when taking out a HDB loan. With that said, we are willing to stay on in our BTO if the location is good while amassing the funds necessary for a private property purchase. Well, that's an option but we will consider its feasibility only at a later stage.

I dont think they are bashing you, they may be aggressive but their point is obvious. If you do not qualify for grants now or in future, then you dont have grants, it is as simple as that.

There is no such thing as 'you will just have to find other ways to get grants'.

Assuming now you apply and you get your bidadari, you got not enough money in your cpf, then you pay your downpayment in cash. Because you have no income now.

You obviously do not qualify under the low income group. So please forget about trying to get grants meant for low income families.

If your combined income exceed 8.5k, no grants too.

So tl;dr, if you got no cash and no cpf to pay for your downpayment, it's too bad.

 

[iphone1s]

School holidays going to end soon.

TS, packed your school bag?