Unemployment rate for over-30s creeps up

[Staff69]

bro, you are running up/down orchard to create "artificial" high traffic ar? LOL

 

Dating all the cosmetic counter gals.

[Kusje]

actually.. based on your eg.. you are right... with a disclaimer... both must be near... or cross 6k cap

 

300k 10 year loan. Monthly payment is less than 3k (including CPF) so don't really need to have 12k income lor.

[Throttle2]

Cant imagine those who bought house after 35 year old?! Really needs to pay house loan until 65 liao!

No lah, according to the property gurus, its bloody damn easy.

Anyone can "own" an investment property.

No problem. Who cares about what loan till when.

Huat ah!

[Adrianli]

Cant imagine those who bought house after 35 year old?! Really needs to pay house loan until 65 liao!

 

At this age, mostly its singles getting their new bachelor pad.

[SuPerBoRed]

300k 10 year loan. Monthly payment is less than 3k (including CPF) so don't really need to have 12k income lor.

 

maxed out 6k CPF deduction means OA gets like 1.x k right? if both use up max .. in 10yr.. is abt 360k.. juz abt cover 2.5% interests no?

[Wt_know]

most bought thinking property will cheong ... continue to cheong ... and cheong

2030 with 10M population hor .... agent says one

where got buyer think to stay there until 65

i also never think to stay in my hdb until 65 leh .... got anyone offer my cck hdb without garden for $800k?

 

It's called live within your means. Some young couples bought 800 to 1kk condo when their combine income is around 10k. I really wonder how are they going to pay their mortgage.

 

[Jman888]

if you ask me

 

current 40 year olds should have a fully paid hdb and the FRS in the special accounts already if

 

1.  they got married in early 30s and bought a new flat from govt

2.  made regular lump sum repayments on the hdb loan

3.  made regular transfers to the SA from OA

4.  didn't buy any other properties besides their first HDB

5.  didn't do any investments with their CPF savings which may lose money

 

 

 

this one cannot anyhow transfer, must keep some for kids education when needed.

[Throttle2]

most bought thinking property will cheong ... continue to cheong ... and cheong

2030 with 10M population hor .... agent says one

where got buyer think to stay there until 65

i also never think to stay in my hdb until 65 leh .... got anyone offer my cck hdb without garden for $800k?

Yes, Showster

[Wt_know]

but my hdb no garden leh unlike yours in amk ... lol

 

Yes, Showster

 

[Kusje]

Cant imagine those who bought house after 35 year old?! Really needs to pay house loan until 65 liao!

 

Why does it matter when you bought the house?

 

If you buy at 35, wouldn't you have more savings and more CPF compared to a 25 year old chap?

[Kusje]

maxed out 6k CPF deduction means OA gets like 1.x k right? if both use up max .. in 10yr.. is abt 360k.. juz abt cover 2.5% interests no?

 

You sure interest is on 300k loan is going to be 360k over 10 years?

 

300k*0.025= 7.5k

 

So interest is 7.5k for the first year. Subsequent years won't it be less because you are also paying down the principal? And even if you pay 7.5k every year, isn't it only 75k for ten years?

Edited May 2, 2017 by Kusje

[13177]

At this age, mostly its singles getting their new bachelor pad.

Some people could marry late also le, not really must be singles. Lol.

[SuPerBoRed]

You sure interest is on 300k loan is going to be 360k over 10 years?

 

300k*0.025= 7.5k

 

So interest is 7.5k for the first year. Subsequent years won't it be less because you are also paying down the principal? And even if you pay 7.5k every year, isn't it only 75k for ten years?

 

oei.. wat toking u? we talking about fully paid HDB ley...  dont need to pay principle ah? 

 

reducing interests thats why i agar 60k interest over 10yrs mah... 

[13177]

Why does it matter when you bought the house?

 

If you buy at 35, wouldn't you have more savings and more CPF compared to a 25 year old chap?

Not necessary you would have more savings and cpf at 35, all depends on the person's salary and how much the person managed to save over the years la. But it might matter if the person is upgrading the house at older age, cause loan will be so called reset again?!

[Throttle2]

but my hdb no garden leh unlike yours in amk ... lol

I dont own HDB lah.

 

 

Cant afford.

Mine rented one

Edited May 2, 2017 by Throttle2

[SuPerBoRed]

Not necessary you would have more savings and cpf at 35, all depends on the person's salary and how much the person managed to save over the years la. But it might matter if the person is upgrading the house at older age, cause loan will be so called reset again?!

 

dont know abt savings la.. but surely more CPF la... unless u devised a way to touch OA without buying house? 

[Stratovarius]

bro, you are talking about baby boomers that bought 1st hand hdb at $200k-ish leh

now hdb ... $350k to $450k ... how to fully paid by 40 let say buy at 28-30 years old?

current at 40 probably yes ... those who bought 10-12 years ago

some more must be at cck not redhill, tpy, amk, bishan location hor

even now at 30 years old if buy sengkang and punggol also cannot fully paid by 45 ...

Can be done. I bought mine at 340k. Took a loan for 260k. Every year end dump 7, 8k each to the principle. Can probably (never really go calculate) finish the loan in 10 to 12 yr's time. It might be harder if couple average monthly income is 3 to 4k though. Again, depends on personal financial health and expectation. Some will prefer to use the cash for holidays or investment.

[13177]

It's called live within your means. Some young couples bought 800 to 1kk condo when their combine income is around 10k. I really wonder how are they going to pay their mortgage.

Although they bought a 800k to 1 mill condo and their combine income is around 10k, maybe they have huge cash to help to settle majority of the house price and loan little only?