AFV_V200 3rd Gear March 5, 2012 Share March 5, 2012 not sure where to start. lets say... A family (just husband and wife) with a total saving of 600k cash and total CPF of 200K. and with a combine income of around 7K take home salary. putting aside 80K cash for renovation. How will you allocate the down payment? And will you go for private property or HDB? ↡ Advertisement Link to post Share on other sites More sharing options...
Mustank Hypersonic March 5, 2012 Share March 5, 2012 not sure where to start. lets say... A family (just husband and wife) with a total saving of 600k cash and total CPF of 200K. and with a combine income of around 7K take home salary. putting aside 80K cash for renovation. How will you allocate the down payment? And will you go for private property or HDB? Whoa! You rich man! Buy ec lor Link to post Share on other sites More sharing options...
Maroon5 5th Gear March 5, 2012 Share March 5, 2012 yes EC is a good in between. but seriously the cash they amassed vs their pay is quite surprising. Link to post Share on other sites More sharing options...
Vid Hypersonic March 5, 2012 Share March 5, 2012 not sure where to start. lets say... A family (just husband and wife) with a total saving of 600k cash and total CPF of 200K. and with a combine income of around 7K take home salary. putting aside 80K cash for renovation. How will you allocate the down payment? And will you go for private property or HDB? That's a lot of cash you have. Should put them in bonds or investments. It depends how much you want to be left with after buying the new HDB and how much you want to loan. If I'm in your shoes, I will buy a HDB flat using up all the CPF. The rest take loan. Then use the cash to buy a private property. Take another loan. Rent out the private property to pay for the monthly mortages of both HDB and private. Link to post Share on other sites More sharing options...
FastFastCar Neutral Newbie March 5, 2012 Share March 5, 2012 not sure where to start. lets say... A family (just husband and wife) with a total saving of 600k cash and total CPF of 200K. and with a combine income of around 7K take home salary. putting aside 80K cash for renovation. How will you allocate the down payment? And will you go for private property or HDB? Private Property about 1.2million 5% cash 15% cash, the rest loan. Link to post Share on other sites More sharing options...
Maroon5 5th Gear March 5, 2012 Share March 5, 2012 That's a lot of cash you have. Should put them in bonds or investments. It depends how much you want to be left with after buying the new HDB and how much you want to loan. If I'm in your shoes, I will buy a HDB flat using up all the CPF. The rest take loan. Then use the cash to buy a private property. Take another loan. Rent out the private property to pay for the monthly mortages of both HDB and private. nice but its not possible concurrently. Link to post Share on other sites More sharing options...
Throttle2 Supersonic March 5, 2012 Share March 5, 2012 (edited) not sure where to start. lets say... A family (just husband and wife) with a total saving of 600k cash and total CPF of 200K. and with a combine income of around 7K take home salary. putting aside 80K cash for renovation. How will you allocate the down payment? And will you go for private property or HDB? honestly $7k combined is quite pathetic in todays context. so all depends on how big a place they want and how big a burden they can take on shoulders. If I were them , I would get a big HDB and feel very comfortable. Downpay at least $300k - $400k or about half of the cash + cpf they have. Life will still be very comfortable and things would be stable. well within means and have money to invest in other things. whats the point of a small (public) private property [also known as mass market private property (usually nestled in HDB estates anyway...)] And have to live with hordes of upstarts and CMIs as neighbors. So , flame me but thats the truth.... Edited March 5, 2012 by Throttle2 Link to post Share on other sites More sharing options...
Solar Turbocharged March 5, 2012 Share March 5, 2012 take home 7k but cash reserve 600k... it must be your 20yr? life savings. i can't advice much cos i'm no financial guru, but pls be prudent.. check out forums for alternate views then draw your conclusion. (personally i won't do it.. too expensive now) not easy to save this amount, unless that 600k is toto winnings Link to post Share on other sites More sharing options...
FastFastCar Neutral Newbie March 5, 2012 Share March 5, 2012 take home 7k but cash reserve 600k... it must be your 20yr? life savings. i can't advice much cos i'm no financial guru, but pls be prudent.. check out forums for alternate views then draw your conclusion. (personally i won't do it.. too expensive now) not easy to save this amount, unless that 600k is toto winnings Yeah, how I wish I have 600K, I think will take me 30 years to save up this much. Link to post Share on other sites More sharing options...
Ladykillerz 4th Gear March 5, 2012 Share March 5, 2012 not sure where to start. lets say... A family (just husband and wife) with a total saving of 600k cash and total CPF of 200K. and with a combine income of around 7K take home salary. putting aside 80K cash for renovation. How will you allocate the down payment? And will you go for private property or HDB? i wonder how 7k combined income can appear with another 600k cash. even if you save up 100% without spending and without cpf, with a 7k combined income, it will take 7.14 years to hit 600k. anyway, i would suggest you to go for HDB EM/EA/EC or maximum, a 99 years neighbourhood condo. i am suggesting such because the combined income is really too low to consider a private property. just my two cents worth. Link to post Share on other sites More sharing options...
2009k Neutral Newbie March 5, 2012 Share March 5, 2012 I earn more than that and I don't even have 600k cash and 200k cpf... How to do that... Link to post Share on other sites More sharing options...
LoverofCar 6th Gear March 5, 2012 Share March 5, 2012 Combine salary $7k per month got $600k saving? You tio toto before si Bo? Or ah pa very rich? Link to post Share on other sites More sharing options...
AFV_V200 3rd Gear March 5, 2012 Author Share March 5, 2012 it is a combine saving including a handsome 250k profit from the sales of flat. so hard saving of 2 person is 350k only in 20yrs. currently renting a flat . Link to post Share on other sites More sharing options...
Poper 2nd Gear March 5, 2012 Share March 5, 2012 I earn more than that and I don't even have 600k cash and 200k cpf... How to do that... Toto? Investment? Inheritance? Not from hard savings for sure Link to post Share on other sites More sharing options...
2009k Neutral Newbie March 5, 2012 Share March 5, 2012 ok, 20 years... That's still good savings compared to lots of other couples. No kids? Think buy HDB flat, use up the CPF, use half the cash, that will mean you buy a place that is max 550k. The rest keep for rainy days. Link to post Share on other sites More sharing options...
2009k Neutral Newbie March 5, 2012 Share March 5, 2012 Toto? Investment? Inheritance? Not from hard savings for sure He and wife saved up and 250k from sale of flat lah. Actually the CPF can lah. Me already got ~240k (balance + CPF used for property) working about 12 years. But me don't have 600k cash. Wonder how's the feeling to see the bank account so thick. Maybe I should make that my new target; to have thick thick bank account! Link to post Share on other sites More sharing options...
FastFastCar Neutral Newbie March 5, 2012 Share March 5, 2012 Sigh so many rich people here, can someone teach a young chap like me how to save and invest my money? Link to post Share on other sites More sharing options...
AFV_V200 3rd Gear March 5, 2012 Author Share March 5, 2012 Toto? Investment? Inheritance? Not from hard savings for sure non of the above. beside regular salary saving, still able to get abt extra 10k-15k each yr from freelance project, but it slow down in recent year. ↡ Advertisement Link to post Share on other sites More sharing options...
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