What is the cost price of your HDB?
-
Originally posted by ditzy:
Seriously, do you take everything I say so seriously?
By the way, I already bought the farking flat. And I already done my sums, and I want to clear the debt in under 25 years or less.
Also, I already plan to sell it just after 5 years, and buy a condo.
Why the hell would I want to buy a car that costs double my flat?
By the way, thanks for your PM, but I couldn't understand a bit of what you wrote, coz it sounds more like what financial planner would tell me, all in one ear and out the other.
LOL... I wouldn't know. There are people who really think and do what you said leh... My intention was to share what I think, so I apologize if u felt offended.
I don't go with financial planners. I think I'm better than most of them anyway.
-
Originally posted by eagle:
LOL... I wouldn't know. There are people who really think and do what you said leh... My intention was to share what I think, so I apologize if u felt offended.
I don't go with financial planners. I think I'm better than most of them anyway.
No worries, I don't take offence to anything you said, but you really sounded like one. Between killing cats, and killing financial planners, I prefer killing cats more, because they don't scream.
-
Originally posted by ditzy:
No worries, I don't take offence to anything you said, but you really sounded like one. Between killing cats, and killing financial planners, I prefer killing cats more, because they don't scream.
Haha I don't know whether to take that as a compliment or insult.
Because I don't really like financial planners.
Yet I like to plan my own financesBut I'm not even in the financial sector at all
-
Originally posted by eagle:
Me and my gf could pay down our BTO 5-rm HDB straight, but there's no point to. It makes more sense to take advantage of the low 2.6% interest for 30 years. It's all about how one manages one's finances, and how early one starts to do it.
In fact, there are a few ways to play around the 2.6% and profit from this low interest rate.
Then again, how many people are willing to do the necessary homework (which is hard work), think deep, analyse carefully, to understand how to play the system?
If taking up 30 yr loan, by the tme loan is over, you will be around 50+? Time to retire. -
Originally posted by likeyou:
If taking up 30 yr loan, by the tme loan is over, you will be around 50+? Time to retire.One have to consider the reasons for taking up the loan, i.e. your finances, your earning capability, your current assets, and possibly your financial strategy in life.
A 30 yr loan will benefit some people greatly and accelerate them towards financial freedom. Yet it can also sink others into a debt they become a lifelong slave too.
It really depends on what one wants. I have pm-ed ditzy my plans, but he didn't understand it anyway. It was taught to me by others who have already been doing it and benefiting greatly from it. I like proven paths :)
-
I hv cousin who also took up the long term loan.
Though her salary only about $1.4k per mth, her hubby...(never ask), she told me if one day, either her or hubby jobless, the housing loans will be in trouble. This is the concern I am sure many pple thinking of especially today where ecomony doesnt look so good.
-
Originally posted by likeyou:
I hv cousin who also took up the long term loan.
Though her salary only about $1.4k per mth, her hubby...(never ask), she told me if one day, either her or hubby jobless, the housing loans will be in trouble. This is the concern I am sure many pple thinking of especially today where ecomony doesnt look so good.
Yes, that's indeed worrying. $1.4k means just $200+ into CPF OA, which is clearly insufficient to pay down most HDB's loans.
I have a Malay colleague under me (with only poly cert). I guess his salary is about $2.5k/mth, and his wife's salary, I'm not sure, is less than his. He can afford a 4-rm HDB, a car, a motorbike, a maid, and still bring his family (2 children) for tours to Europe, and recently Bali. That's amazing.
But I also have another colleague who told me (early this year) she cannot quit because her husband just lost her job, and the whole family depends on her income. Didn't say anything about the house though.
Well, there are always some who fare better and some who fare worse. Those who fare better should try to help those who fare worse.
-
Yes, I also wonder how your malay friend manage their finance so effectively.
Talking about my cousin, she got 3 kids, and all studied secondary school. Heard that the housing loans are deducted at her cpf? And every month need to top up her cpf. Something like that.
They are living in a very tight cash everyday.
Yes, if one get jobless, the other must carry on...once jobless, very hard to get back the same job or same salary. Everything in the house, expenses must be adjust....sigh...
-
I do see these happening... That's why I'm setting up my systems, and working hard to amass, build and buff up my savings before getting married. Of course, still not forgetting my eventual goal of helping students score as high as possible while making their learning as fun and interesting as possible.
It's hard work, but it's worth it.
-
Nobody is afraid of million dollar HDB flats.
Bring it on!
-
If you're wondering why they can manage their finances so effectively, maybe its because they take more loans than anyone else, and save almost absolutely nothing. I've heard enough sob stories to come to that judgement.
-
Originally posted by charlize:
Nobody is afraid of million dollar HDB flats.
Bring it on!
It's not the cost of million dollar HDB flats.Really.
It's how much you make.
If you make afew millions of dollars a year, the HDB flats will be peanuts to you.
However if you make $1,200 a month, even a $200,000 flat will be daunting.
Relativity.
-
Originally posted by βÎτά:
It's not the cost of million dollar HDB flats.Really.
It's how much you make.
If you make afew millions of dollars a year, the HDB flats will be peanuts to you.
However if you make $1,200 a month, even a $200,000 flat will be daunting.
Relativity.
If you are not making million dollar salaries, there must be something wrong with you.
You need spurs to poke you on your behind.
-
Some time in the future, a HDB 3rm flat will reach S$500k and a 4rm flat will reach S$700k and 5rm flat will be S$1M. It will happen on the resale arena. Then people will be talking about renting rooms becos majority can't afford to own a resale HDB flat anymore....possibly 20 years from now, I suppose.
So its a good time to apply for brand new HDB flats now. In the future can make lots of $$$ ! Possibly 3x the price. The way I look at it, property prices can only go up. Even if during bad market, it still won't fall to 1980's prices. That's why people continue to buy private properties too.
-
Originally posted by charlize:
If you are not making million dollar salaries, there must be something wrong with you.
You need spurs to poke you on your behind.
Not earning millions also nothing wrong.
Really
Just live in the void deck, sleep in the park.
Many people are doing that in US, UK ...........
Akan Datang to Singapore soon
-
Originally posted by Demon Bane:
Some time in the future, a HDB 3rm flat will reach S$500k and a 4rm flat will reach S$700k and 5rm flat will be S$1M. It will happen on the resale arena. Then people will be talking about renting rooms becos majority can't afford to own a resale HDB flat anymore....possibly 20 years from now, I suppose.
So its a good time to apply for brand new HDB flats now. In the future can make lots of $$$ ! Possibly 3x the price. The way I look at it, property prices can only go up. Even if during bad market, it still won't fall to 1980's prices. That's why people continue to buy private properties too.
Yes, pple are renting their whole units out, and can earn around $2k to $3k per month. It will come in handly especially pple who salary is low.
But heard that renting the whole flats need to be tax. How much need to pay to the govt?
And I find it really unfair as why need to pay govt tax as the unit belongs to one's family?
-
Originally posted by likeyou:
Yes, pple are renting their whole units out, and can earn around $2k to $3k per month. It will come in handly especially pple who salary is low.
But heard that renting the whole flats need to be tax. How much need to pay to the govt?
And I find it really unfair as why need to pay govt tax as the unit belongs to one's family?
Singaporeans like to pay and pay.
If one day, they don't need to pay anything to the government, they will feel very out of place and uncomfortable.
-
Originally posted by likeyou:
I hv cousin who also took up the long term loan.
Though her salary only about $1.4k per mth, her hubby...(never ask), she told me if one day, either her or hubby jobless, the housing loans will be in trouble. This is the concern I am sure many pple thinking of especially today where ecomony doesnt look so good.
if your cousin do not have kids than not so bad.
at most rent out the whole house and get a rental of around 1k to 2k a month and use it to pay for the housing loan.
than she and her husband can find their parents or relatives place to stay.
-
Originally posted by charlize:
Singaporeans like to pay and pay.
If one day, they don't need to pay anything to the government, they will feel very out of place and uncomfortable.
rubbish.
we are forced by the govt to pay and pay not we like to pay de ok
-
Originally posted by eagle:
Yes, that's indeed worrying. $1.4k means just $200+ into CPF OA, which is clearly insufficient to pay down most HDB's loans.
I have a Malay colleague under me (with only poly cert). I guess his salary is about $2.5k/mth, and his wife's salary, I'm not sure, is less than his. He can afford a 4-rm HDB, a car, a motorbike, a maid, and still bring his family (2 children) for tours to Europe, and recently Bali. That's amazing.
But I also have another colleague who told me (early this year) she cannot quit because her husband just lost her job, and the whole family depends on her income. Didn't say anything about the house though.
Well, there are always some who fare better and some who fare worse. Those who fare better should try to help those who fare worse.
I am sure your malay collegue is paying his house, car etc everything by installment with high interest rates.
so once he lose his job, he will have to sell off his car at a loss as car prices are always dropping, unlike house prices.
so it will be good bye to him once he lose his job
-
Originally posted by dechang:
rubbish.
we are forced by the govt to pay and pay not we like to pay de ok
where got. every election, people still end up voting for pay and pay, and they get what they wish what.
at least, 67% of singaporeans dun seem to mind paying and paying
-
Originally posted by likeyou:
Yes, pple are renting their whole units out, and can earn around $2k to $3k per month. It will come in handly especially pple who salary is low.
But heard that renting the whole flats need to be tax. How much need to pay to the govt?
And I find it really unfair as why need to pay govt tax as the unit belongs to one's family?
now cannot rent out whole unit already, must keep at least 1 room. must be subjected to spot checks to see if owner is living in house, if not, kena fine.
-
Originally posted by Demon Bane:
Some time in the future, a HDB 3rm flat will reach S$500k and a 4rm flat will reach S$700k and 5rm flat will be S$1M. It will happen on the resale arena. Then people will be talking about renting rooms becos majority can't afford to own a resale HDB flat anymore....possibly 20 years from now, I suppose.
So its a good time to apply for brand new HDB flats now. In the future can make lots of $$$ ! Possibly 3x the price. The way I look at it, property prices can only go up. Even if during bad market, it still won't fall to 1980's prices. That's why people continue to buy private properties too.
it make sense to buy if only you intend to downgrade to a smaller flat eventually.
but come the day, will you be allowed to downgrade, due to factors like income ceiling etc?
also, if everyone keep speculating that property prices will go up, it will confirm go up, no denying that. especially when the govt is already limiting the issuing of limited land.
but this madness have to stop at one point, and can't go on and on forever.
if not, one day you will have 3 rm flats costing a million. and with a pretty much the same income ceiling of $3000, you will be seeing 99year loans.
-
Originally posted by deathmaster:
where got. every election, people still end up voting for pay and pay, and they get what they wish what.
at least, 67% of singaporeans dun seem to mind paying and paying
in the previous election they still never bring in so many foreigners yet mah plus they give us goodies to trick us into voting for them, only to raise gst etc after the election to take back what they have given to us
after the previous election we all learn our lesson and will not vote for them anymore
-
Originally posted by dechang:
I am sure your malay collegue is paying his house, car etc everything by installment with high interest rates.
so once he lose his job, he will have to sell off his car at a loss as car prices are always dropping, unlike house prices.
so it will be good bye to him once he lose his job
Why are you so sure? Just because he can manage it succesfully, and you can't?
I believe he bought it as a 2nd car a few years ago when COE was cheaper.