New EC at Sumang Walk

Merg91

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Give you a tip.
Housing loans are the cheapest bank loans most of us can get.
I would not be surprised many could have paid cash at 1 go for their homes.
But yet maximise the home loan but make more keeping in CPF / REITs /stocks /bonds.

They are not your perceived house slaves. :o

most people are jut house slaves using active income to pay for bank loan lifelong:s13::s13:
 
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Give you a tip.
Housing loans are the cheapest bank loans most of us can get.
I would not be surprised many could have paid cash at 1 go for their homes.
But yet maximise the home loan but make more keeping in CPF / REITs /stocks /bonds.

They are not your perceived house slaves. :o

simple maths who don't know?

your many is how many % of population?:s8::s8:
i tell you confirm <20%
i call it minority
 

SBC

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Give you a tip.
Housing loans are the cheapest bank loans most of us can get.
I would not be surprised many could have paid cash at 1 go for their homes.
But yet maximise the home loan but make more keeping in CPF / REITs /stocks /bonds.

They are not your perceived house slaves. :o

Mine is a small development & old place. About 15% to 25% of them had paid off and holding their title deed.

JSK.
 

Merg91

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A couple making $1.5k overstretches even getting a 4-room hdb flat.

Many medium income families are making >$15k.
<$1.5 million homes are the most popular or ABSD/LTV limit for many.
Are they overstretched or scammed by the agents?

Usually it is the commission hungry agents that psycho buyers to overstretch their budget to buy more properties. And it is the entry level, mass market condo buyers like most of us here that usually suffer the most.
 

Merg91

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The CPF/REITs/bonds/some stocks definitely beat the cost of the housing loans.

Of course there always be some who prefer debt free / fearful of another Hyflux /Noble.

Mine is a small development & old place. About 15% to 25% of them had paid off and holding their title deed.

JSK.
 
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A couple making $1.5k overstretches even getting a 4-room hdb flat.

Many medium income families are making >$15k.
<$1.5 million homes are the most popular or ABSD/LTV limit for many.
Are they overstretched or scammed by the agents?

:s13::s13::s13:
and someone says would not be surprised MANY could have paid cash at 1 go for their homes wor,But yet maximise the home loan but make more keeping in CPF / REITs /stocks /bonds.

should i also say i think many people monthly salary more than ice-cream uncle $30k?:s22::s22:
 

Merg91

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Too difficult for you?
This would be simple.
Why do many pay by credit cards instead of cash for a $50 meal when most have $100-200 cash in our wallets?

Good if the ice-cream uncle can make $30k.
He is running a business.
You should be one & beat most Singaporean families.

:s13::s13::s13:
and someone says would not be surprised MANY could have paid cash at 1 go for their homes wor,But yet maximise the home loan but make more keeping in CPF / REITs /stocks /bonds.

should i also say i think many people monthly salary more than ice-cream uncle $30k?:s22::s22:
 

sgpropertyblog

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Buy 1 1.5m home is fine. But agents want you to buy more! They will help you do calculations. sgpropertyblog said before he can make someone who thinks he can't afford it, afford it! They convince you rental yield can help you pay off your mortgage!

Btw, median household income is not $15k.


I think u misunderstood my point... what im trying to say is, many people just assume they canot afford to upgrade/buy Condo even without do any calculation ( or maybe they dont know how to) .. but most of them will be suprised to know that they actually can afford to do so after doing their financial calculation..
 

birmingham123

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Give you a tip.
Housing loans are the cheapest bank loans most of us can get.
I would not be surprised many could have paid cash at 1 go for their homes.
But yet maximise the home loan but make more keeping in CPF / REITs /stocks /bonds.

They are not your perceived house slaves. :o

How is housing loan calculated?
If loan 1million at 2% interest rate over 30 years, the first 10years is like paying for interest only and very small amount go to repay principal. Can teach me ?
 
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How is housing loan calculated?
If loan 1million at 2% interest rate over 30 years, the first 10years is like paying for interest only and very small amount go to repay principal. Can teach me ?

and so the loanee still need to do active work to earn active income to pay mortgage or not?
as such is that called a house-slave?:s22::s22:
I'm still puzzled
 

momoeagle

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A couple making $1.5k overstretches even getting a 4-room hdb flat.

Many medium income families are making >$15k.
<$1.5 million homes are the most popular or ABSD/LTV limit for many.
Are they overstretched or scammed by the agents?

Hint hint
>$15k not qualify for EC.
 

momoeagle

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I think u misunderstood my point... what im trying to say is, many people just assume they canot afford to upgrade/buy Condo even without do any calculation ( or maybe they dont know how to) .. but most of them will be suprised to know that they actually can afford to do so after doing their financial calculation..
I attended some marketing courses before that has property agents. And I learned that was one marketing angle used by agents to attract attention. But affordability is generally based on bank loan amount and not based on person's earning ability, which is also subjected to the economy. Correct me if I'm wrong, but you most likely would not have any backup plan for the person buying the condo in terms of "affordability" considerations. It will likely be a stopping factor for some.

While it is possible to afford, we have to recognize that the affordability is dependent on current financial circumstances. Prudent financial measures have to include minimum 6 months emergency expenses and now this will include the high housing loan and other expenses.

However, it really depends on individual goals. If my goal is to retire in 5 years time, which is around 40 yrs old for me, a condo will set me back by 20 years. So have to consider really carefully.
 

birmingham123

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and so the loanee still need to do active work to earn active income to pay mortgage or not?
as such is that called a house-slave?:s22::s22:
I'm still puzzled

Not sure what is your question related to my question on housing loan. House slave or not I not sure, but I think working until maybe 60 is a good idea rather than retire at say 45 and no aim in life anymore...
 

momoeagle

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Not sure what is your question related to my question on housing loan. House slave or not I not sure, but I think working until maybe 60 is a good idea rather than retire at say 45 and no aim in life anymore...
Why would you think retire at 45 means no aim in life?

It's good to think of working till 60 though. But not working because you have a loan to pay.

I work because I want to, not because I need to.
 
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Not sure what is your question related to my question on housing loan. House slave or not I not sure, but I think working until maybe 60 is a good idea rather than retire at say 45 and no aim in life anymore...

Bro
I wasn’t challenging your post
Just quoting your post to post a question to the floor only

I believe almost all sinkies who buy condo are house slaves in the end
Unlike someone who claimed many can pay all off by cash at once
 

birmingham123

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Bro
I wasn’t challenging your post
Just quoting your post to post a question to the floor only

I believe almost all sinkies who buy condo are house slaves in the end
Unlike someone who claimed many can pay all off by cash at once

Oh okay. Cause my question on housing loan is something no one answer me before. Just curious, if retire at age 40 or 45 and assuming property fully paid up, how much money is enough for the next 40years per person for a couple with 1 kid in your opinion ?
 
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