Housing Dilemma

SecretAgent

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If can afford, why not? At most is take max loan then struggle for 5 years and flip for profit then buy resales at woodland
Their family sure can afford.. Is just want the location.. Like staying ulu place is damnation like that..

But trying to ballot and get one is another question.. Seriously.. Got people so damm lucky to get good place with first 2 tries? We less likely to hear about these...

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Sinkie

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Their family sure can afford.. Is just want the location.. Like staying ulu place is damnation like that..

But trying to ballot and get one is another question.. Seriously.. Got people so damm lucky to get good place with first 2 tries? We less likely to hear about these...

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Aya they want the location because they think can sell higher for profit la. If really like the location can ask them buy resales and pay the bto owner their toto winning
 

iphone1s

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Lets not disturb TS anymore ba.

I don't think that all these will sink in to them. They have their own ideas. Anything more, will be us imposing our ideas on them.
 

JJJJJJ

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you've hit the nail on the point. My question really is, whether or not HDB will award the grant based on my self-employment.

As per the EC, we are thinking that by the time we take the keys, we will be having a take home of 9k - 11k projected. So might as well apply for EC, assuming it takes two years to build.

My wife and I, worked for 2 yrs after grad. Combined income 11k. I took a 4 room bto in non mature estate. I don't even dare to think of EC.

Living in EC is swag (to some ppl, not to me). Financial freedom is priceless.
 

plusOne83

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Issue 1: no grant
Unless u are part time, else you'll be under full time student category. Your sole proprietorship doesn't count as work for full time student. So if u ballet now you can't get any grant. Note that mature area doesn't qualify for SHG at all.

Issue 2: Bto better
All ec are far far away from cbd except maybe brownstone? Still quite far.
U can start trying bto now, Bank loan I think student no need provide yet. Only before collecting keys. Ec don't think u are able to buy without loan, might be wrong u have to check.
Another option is go for sbf after u worked one year.

Issue 3: no loan
U can't get any loan approve now at all.
 

SecretAgent

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My wife and I, worked for 2 yrs after grad. Combined income 11k. I took a 4 room bto in non mature estate. I don't even dare to think of EC.

Living in EC is swag (to some ppl, not to me). Financial freedom is priceless.
To some ppl.. Having manageable debt is a good thing... <--twisted upside down thinking instill by the bab gov.

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lordlad0

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sorry but i hate to burst the bubble of many here but manageable debt IS a good thing.

Financial freedom doesn't mean no debt. It means you know how to manage your finance properly. If you guys hated debt so much, might as well throw away all your credit cards and put all your cash in the milo tin and under your pillow. This type of thinking is my ah ma type of thinking....i.e. don't trust insurance, don't trust bankers, don't having debt, don't like credit cards, prefer to earn your pitiful interest rates in POSB than investing.....no wonder you guys are poor. Because this is 'poor's man thinking'. Everything must play so safe and refuse to venture into any 'risk'. If you don't like risk, then don't complain about being poor. Keep on dreaming about getting rich by striking lottery, a poor man's game.

Before anyone say i am a youngster, i'm no longer required by SAF to serve ICT or IPPT so you can probably guess my age.

To quote from Jack Ma:

“The worst people to serve are the Poor people. Give them free, they think it’s a trap. Tell them it’s a small investment, they’ll say can’t earn much. Tell them to come in big, they’ll say no money. Tell them try new things, they’ll say no experience. Tell them it’s traditional business, they’ll say hard to do. Tell them it’s a new business model, they’ll say it’s MLM. Tell them to run a shop, they’ll say no freedom. Tell them run new business, they’ll say no expertise. They do have somethings in common: They love to ask google, listen to friends who are as hopeless as them, they think more than an university professor and do less than a blind man.

Just ask them, what can they do. They won’t be able to answer you. My conclusion: Instead of your heart beats faster, why not you just act faster a bit; instead of just thinking about it, why not do something about it. Poor people fail because on one common behaviour: Their Whole Life is About Waiting.”
 

Franzz

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All of you piss old poor men, stop paying for your big ticket item with cold hard cash and get sunk with credit cards instead!

:(:(
 

iphone1s

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sorry but i hate to burst the bubble of many here but manageable debt IS a good thing.

Financial freedom doesn't mean no debt. It means you know how to manage your finance properly. If you guys hated debt so much, might as well throw away all your credit cards and put all your cash in the milo tin and under your pillow. This type of thinking is my ah ma type of thinking....i.e. don't trust insurance, don't trust bankers, don't having debt, don't like credit cards, prefer to earn your pitiful interest rates in POSB than investing.....no wonder you guys are poor. Because this is 'poor's man thinking'. Everything must play so safe and refuse to venture into any 'risk'. If you don't like risk, then don't complain about being poor. Keep on dreaming about getting rich by striking lottery, a poor man's game.

Before anyone say i am a youngster, i'm no longer required by SAF to serve ICT or IPPT so you can probably guess my age.

To quote from Jack Ma:

I am glad to serve alongside with you in defending whatever that is left in Singapore without being tainted with foreign blood.

However, what you posted and what TS posted are from 2 absolutely different angles.

Having debt is healthy. To a certain extend, it could be. Such as making money work for you. I am totally for you in this area.

What TS mention is in the confidence of their increment, job prospects and their current financial situation. A credit card is good, yes, no doubt, I can gain points and free gifts and a discount even, at some meals with a credit card. To say that we are using future money, that's half truth. If a person truly use the card when he CANNOT PAY IT OFF IMMEDIATELY, yes. that's not good debt.

If anyone have 400k in their pocket right now, lets use simple logic, will they want to pay 425k just for the interest alone? or they pay 400k immediately? it works the same for a house that cost 425k and a curry puff for 80cents.

I appreciate your input here, but I guess its abit off tangent with regards to TS's intentions.
 

lordlad0

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All of you piss old poor men, stop paying for your big ticket item with cold hard cash and get sunk with credit cards instead!

:(:(
obviously, most poor people think in binary terms....

i.e. No debt = good, debt = no good.

How's that working for them?

The word is 'debt management'...keyword 'management'.

Of course i am not telling TS to accumulate debts that he can't afford or over-leverage himself but some of the old man circle jerk replies here gave me brain cancer that i thought i am in EDMW...no debt is good? Tell me how can someone get any sort of credit rating with no debt at all? If you guys idea of advising people is to ask them to be like you..then i rest my case.
 

iphone1s

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obviously, most poor people think in binary terms....

i.e. No debt = good, debt = no good.

How's that working for them?

The word is 'debt management'...keyword 'management'.

Of course i am not telling TS to accumulate debts that he can't afford or over-leverage himself but some of the old man circle jerk replies here gave me brain cancer that i thought i am in EDMW...no debt is good? Tell me how can someone get any sort of credit rating with no debt at all? If you guys idea of advising people is to ask them to be like you..then i rest my case.

Totally agree with you on credit rating. If a person borrows a million dollars, and pays back promptly, there is some credibility about him.

But I guess you could have over looked on a simple point which most mentioned here. TS claims on the confidence of an increment of 17% annually, and being in the legal industry being stable. With a minimal 7k, they are thinking they could afford a EC along side by selling whatever stocks they have. But on their next post, they die die now wanted a 4room BTO at a PREMIUM location.

Now, having said all that, what is their confidence based on? What are the concerns that our members have raised?

Should they be retrenched, they still can afford the unit.

But in TS's case, retrenchment is never a word in their dictionary.
 

kyteo79

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Forum member say buy BTO must loan money ...

Govt say 1k salary can buy BTO liao.

SO What is what ?

I very confused.

++

Oh isssit borrow from 40 ah longs then go mbs 1 x show hand ?
 

kyteo79

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Ali baba come out rich because why ?

he got 40 thieves ...

+++

i still want to be like my idol W.buffett so i can eat buffet.

Be humble

No big head dun wear big hat. Cannot see when wind blow big hat cover your eyes and fall down.. fall down still ok ... dun fall down and lose stability ...

got one kor kor say he know many line up bedok reservior ...dunno do what swimming huh ?
 

lordlad0

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Okie i have recite

"DEBT IS GOOD" x 40

hehe
ok..i give up and rest my case. Good luck on hugging that milo tin can.

to ts, do what you will and don't listen to those old men blindly. Plan carefully, access your situation and industry, your capability objectively....invest aggressively & smartly and diversify your investments so that your mortgage is not 100% rely on the monthly salary like 90% of the singapore paupers.
 

lordlad0

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Ali baba come out rich because why ?

he got 40 thieves ...

+++

i still want to be like my idol W.buffett so i can eat buffet.

Be humble

No big head dun wear big hat. Cannot see when wind blow big hat cover your eyes and fall down.. fall down still ok ... dun fall down and lose stability ...

got one kor kor say he know many line up bedok reservior ...dunno do what swimming huh ?
you seems to enjoy thinking like a pauper...or a retard.
 

Yevin227

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you seems to enjoy thinking like a pauper...or a retard.

Bro, you might be old in terms of age, but resorting to name calling and plain insults simply shows the level of maturity that you have. Chill.

Everyone is entitled to their own opinions, this is an open forum. You can learn to agree to disagree with this point. Keep the discussion relevant, ok?

Cheers.
 
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