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**How you allocate your saving for a house?**

AFV_V200

By AFV_V200,
in Property Buzz

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Roh96

Roh96

6th Gear

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 .

 

Buy hdb or at most ec. With 20 yrs saving, I believe u are at least mid 40s. Buy a hse below 1 mil n quickly pay up asap, so that u hv the next 15 to 20 yr to save up for retirement.

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2009k

2009k

Neutral Newbie

Buy hdb or at most ec. With 20 yrs saving, I believe u are at least mid 40s. Buy a hse below 1 mil n quickly pay up asap, so that u hv the next 15 to 20 yr to save up for retirement.

 

 

At 40s I will advice against taking a loan. 600k cash, 200k CPF, just buy a 550k flat since couple without kids.

 

Cash keep for rainy days, at most next time really good investment opportunity/timing I alert all at mcf, so you can double that.

 

2 person working with 7k income should just keep it safe.

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Ladykillerz

Ladykillerz

4th Gear

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 .

 

since you are renting your flat and you cannot buy another flat.

i would suggest you to keep your current flat and continue with the rental.

 

it is always good to own another property. however, from the "20yrs" of hard saving, i reckon you both are not young.

you got to ask yourself and your wife, whether to safe keep the savings and spend some on vacation or hiong hiong get another property.

 

if i were you, i will hiong hiong get another property since you got some $$$ to play with and also, rental amount to top up for the outstanding loan.

if $$$ problem arises and worst case, sell either one of your houses lo. you know, property investment usually will never go wrong. [;)]

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Kiadaw

Kiadaw

6th Gear
(edited)

I will pay the standard rate of down payment, & loan, & slowly build the house, adding things over the time, that should relaxed on the pocket a bit.

 

I have a lot of ideas how my house & garden will look like in my mind, but I should do some sketching over how it will look (ok, tomorrow I will go libary to get some inspiration since I am on leave now, very eng). Every time, I visited a friends & colleague house, I get more ideas, but I need to keep it real, as I can't have it all.

Edited by Kiadaw
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Coltplussport

Coltplussport

Turbocharged

Why the hell you sell your flat for? Now you don't even have a place to stay. What's there to advice? Buy a place to stay unless you believe people telling you there will be a crash in property price in the near future?

 

 

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LoverofCar

LoverofCar

6th Gear
(edited)

If I will you...I buy a house in JB and convert the $600k into RM1.4M....you can live a very very good life there...and retire now ...play golf everyday....

Edited by LoverofCar
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AFV_V200

AFV_V200

3rd Gear
  • Author

AFV_V200 said: currently renting a flat

You said: since you are renting your flat

See the difference?

 

:)

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AFV_V200

AFV_V200

3rd Gear
  • Author

Why the hell you sell your flat for? Now you don't even have a place to stay. What's there to advice? Buy a place to stay unless you believe people telling you there will be a crash in property price in the near future?

 

agree. to me... this kind of amount. is only good for buying a house for own stay & not investment. :)

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Jman888

Jman888

Moderator

If I will you...I buy a house in JB and convert the $600k into RM1.4M....you can live a very very good life there...and retire now ...play golf everyday....

 

 

Some JB house is about RM 1 mil, can retire already? Eat grass? :huh:

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Solar

Solar

Turbocharged
(edited)

at minimum for retirement, he needs to have a house to rent out for passive income (if he has no other revenue generating income at old age), then look for a nearby place to stay.. jb or other parts in malaysia to stretch his retirement funds further.

 

so.. imo, get a hdb (or small condo) to rent out, then get one in malaysia for stay.

every month come back sg to collect rent. going by current exchange (2.4), collect sg rent S$2k = RM4.8k

good enough lah. of course, need to calculate the roi.

if it is a RM500k (S$208k) property, he can break-even in 8.6yrs using his sg house to pay the morgage.

 

just a crude illustration.. he got to do more deeper calculations to see if it really works out for him [:)]

Edited by Solar
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Tigerwoods

Tigerwoods

Turbocharged

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 .

OIC

Liddat many MCFers also can achieve this and probably much more..

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Tigerwoods

Tigerwoods

Turbocharged

at minimum for retirement, he needs to have a house to rent out for passive income (if he has no other revenue generating income at old age), then look for a nearby place to stay.. jb or other parts in malaysia to stretch his retirement funds further.

 

so.. imo, get a hdb (or small condo) to rent out, then get one in malaysia for stay.

every month come back sg to collect rent. going by current exchange (2.4), collect sg rent S$2k = RM4.8k

good enough lah. of course, need to calculate the roi.

if it is a RM500k (S$208k) property, he can break-even in 8.6yrs using his sg house to pay the morgage.

 

just a crude illustration.. he got to do more deeper calculations to see if it really works out for him [:)]

Its seems like many Sporeans have invested interest in buying JB house for retirement. I think JB will be the like Shenzhen...

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Without_a_car

Without_a_car

Clutched

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?

 

hoot a 5 room HDB first... take a 30 year loan first... if 5 years later condo prices cheap, pay off the HDB loan, hoot a condo...

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2009k

2009k

Neutral Newbie

Its seems like many Sporeans have invested interest in buying JB house for retirement. I think JB will be the like Shenzhen...

 

Must first find malaysia mistress then can get a place there and be like shenzhen. [laugh]

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Tigerwoods

Tigerwoods

Turbocharged

Must first find malaysia mistress then can get a place there and be like shenzhen. [laugh]

Last time Shenzhen is Er Nai Chun but now not so many already.

JB can be The OLD Shenzhen hor ? :wub:

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