how much i need to earn in order to buy 700K condo?
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You CANNOT use all CPF to pay down payment. you need MIN 5% CASH.
5% cash of 700K is 35K!!!! Man those condo buyers sure are rich. Fork out 35K cash? I seriously wonder if their money is clean or not hahahaha.... ok I am sour grapes flame me
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Originally posted by sohguanh:
Condo mgt would not allow selling of parking lot from one resident to another. Any other arrangement would be strictly between residents.
[b]The 7k will allows u to live comfortably in the condo + own a car to bring you ard.
Unlike the condos built in the 70's or 80's nowadays condo are built very near to public transport like MRT or bus interchanges. Gone are the days where condos are supposedly to be built far away from bus stops or MRT. So when you say you live in condo you MUST have a car else how are you going to move to and fro between where you live to where you work or study?
It seem that notion or idea are outdated. Condos are built more closer to public transport and for some they even provide free shuttle bus service to the nearest shopping mall and bus interchanges.
However to get a condo and not to feed a car is quite wasteful cuz a parking lot will be allocated to all units so if you dun have a car may wanna consider sell it to other residents who own > 1 car
Am I rite in the above assumption?
Btw I live in HDB if you are curious to know.[/b]
From an economic point of view, condos in the outskirts are so inexpensive that I would suggest that those of you who are considering buying 5 rm HDb or executive apt or Mansionette to go for condos. The price is so close!
For those who cannot afford a condo, go for resale exec condo which comes with full condo facilities as well but much cheaper.
My advice is not to go for HDB flats just because its cheaper. Always look at location and amenities. Is it convenient for you? A old unit after renovation (which is so much cheaper than buy a flat) would look as brand new.
Never take the HDB grant of $30K/$40K, unless you have already planned NOT to get a 2nd new HDB flat any more. The resale levy would kill off the benefits of taking the grant. Sugg: leave the grant for you to get a smaller flat when you retire. Buying a smaller flat with the fixed grant is more worth it than getting it to buy a large flat.
Amt to pay for monthly HDB carpark is almost similar to paying for monthly maintenance of a condo. Would be even better if you own 2 cars. Plus you get to have other facilities, e.g. swimming pool, tennis court, gym, BBQ pits at yr doorstep. -
You can buy a unit at Ardmore Park if you have money to burn.
Yes, only if you have money to burn.
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Originally posted by sohguanh:
That's the norm! If you see how some rich people spend money, you would be surprised at your own narrow scope of thinking.
[b]You CANNOT use all CPF to pay down payment. you need MIN 5% CASH.
5% cash of 700K is 35K!!!! Man those condo buyers sure are rich. Fork out 35K cash? I seriously wonder if their money is clean or not hahahaha.... ok I am sour grapes flame me [/b] -
From an economic point of view, condos in the outskirts are so inexpensive that I would suggest that those of you who are considering buying 5 rm HDb or executive apt or Mansionette to go for condos. The price is so close!
Define close? My HDB 5 room reslae is 300K at 125 sq meter. It is big by my standard but with that pricing I can't get any outskirt condo with same floor area equivalent and floor also. Close is subjective.
My advice is not to go for HDB flats just because its cheaper. Always look at location and amenities. Is it convenient for you? A old unit after renovation (which is so much cheaper than buy a flat) would look as brand new.
My flat is quite near the shopping mall within walking distance. It is resale and I redo all renovation completely so it is as good as brand new.
Never take the HDB grant of $30K/$40K, unless you have already planned NOT to get a 2nd new HDB flat any more. The resale levy would kill off the benefits of taking the grant. Sugg: leave the grant for you to get a smaller flat when you retire. Buying a smaller flat with the fixed grant is more worth it than getting it to buy a large flat.
Correct and I dun intend to sell it any soon. I want this flat to contain my kids and my spouse and hence I need the floor area and rooms. Selling it will be at least 10 years down the road when my kids get married.
Amt to pay for monthly HDB carpark is almost similar to paying for monthly maintenance of a condo. Would be even better if you own 2 cars. Plus you get to have other facilities, e.g. swimming pool, tennis court, gym, BBQ pits at yr doorstep.
That is assuming you feed a car. As of now I am not feeding so I save at least S$90 every month not counting the car associated cost.
So for my profile it is better for me to have a HDB rather than a condo. As for image sorry I don't care much. In fact except for working, I prefer to walk ard in t-shirt, bermuda and sandals. Sometimes to give some face to ppl, I put on a pair of jeans -
That's the norm! If you see how some rich people spend money, you would be surprised at your own narrow scope of thinking.
Not surprised since my relatives all not that rich and I mix ard with the poor since young. Rich ppl money we dunno is legal or not but all I know is these ppl are good customers for you becuz a 2-3 or even 1 % commission you take is enuff to feed your expenses for one month.
So sorry my hard earned money is not for you to earn. You try harder with the rich ppl ok?
Lest you accuse me of extreme attitude and narrow scope of thinking, I am fine. Flame me cuz I derive my strength from scolding and berating. It makes me feel shiok -
take HDB criteria as a guide....i think household income of more than 8K cant apply for flats (not more than 10K for EC)....so for a 700K condo, maybe both must earn at least 10K per mth lor..
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Combined monthly income >8K can easily afford the 700K condo even with bank loan taken. But of course you have to watch your expenditure. Those monthly maintainence fees can be a killer, yes those extra fountains which make your condo landscape more pretty but serve no other purpose, you also pay for it.
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hose monthly maintainence fees can be a killer, yes those extra fountains which make your condo landscape more pretty but serve no other purpose, you also pay for it.
Security guards and condo manager also wan take money for salary and money come from where? Residents lor -
I think the lowest maintainence fee I came across for a condo by the name of Ho Garden is $150p/m. And it has no swimming pool.
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Ho Garden is $150p/m.
Does above include water+gas+electricity+touwn council conservancy bill also? If have it is close to my monthly HDB maintenance fees -
http://www.asiahomes.com/singaporeapartment/homexpat/69_homepat.htmOriginally posted by charlize:You can buy a unit at Ardmore Park if you have money to burn.
Yes, only if you have money to burn.
charlize is right. sheesh -
Originally posted by sohguanh:
Soon, HDB maintenance fees will match those of the condos.
[b]Ho Garden is $150p/m.
Does above include water+gas+electricity+touwn council conservancy bill also? If have it is close to my monthly HDB maintenance fees [/b]
You see the move towards making HDB units "exclusive" through renaming them with fancy condo-like names.
Soon, you will see borders being erected around certain blocks and before you know it, it "becomes" a condo.
And voila, they start charging fees as high as those of private condos. -
I think prices went to a peak of 6 or 7 million per unit before dropping off to 4 to 5 million now.Originally posted by coffeeortea:
You know how fucking ex the place is when monthly rentals come up to $12K. -
And voila, they start charging fees as high as those of private condos
There will still be some control cuz after all HDB are subsidized housing provided by gahmen to spore ppl. There are a mixture of 3 4 5 room in a block so by increasing it too much may get them less votes in coming election. So I believe they will control.
As for condo, reason is simple. If you can afford then there should be no subsidy for you. A practical reason. -
Originally posted by sohguanh:
They will be smart.
[b]And voila, they start charging fees as high as those of private condos
There will still be some control cuz after all HDB are subsidized housing provided by gahmen to spore ppl. There are a mixture of 3 4 5 room in a block so by increasing it too much may get them less votes in coming election. So I believe they will control.
As for condo, reason is simple. If you can afford then there should be no subsidy for you. A practical reason. [/b]
As always, raise the price of everything, then offer some "relief" measures or subsidy to keep the people quiet temporarily. -
Gimme ur CPF balance, age and savings that you are willing to fork out... Overall, your monthly instalment shouldn't exceeds your monthly salary by 40%.Originally posted by Glen999:anyone is good at financial planning? how much do i have to earn and cash in bank a/c in order to buy 700K condo? -
Make sure that you are the only winner at today's toto draw
1 prize is worth $1.5 million
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when i look at the condos nowadays, I was like....wtf? pay so much for such a small floor area??? is it worth it or not???? u stay in those old type 5 rm flat, its so much cheaper and the floor area is so much bigger. kitchen bigger, living rm bigger, bedrooms bigger....every fark thing also bigger...to me HDB makes sense. I will only consider condo if i have like what a previous forumite has mentioned, $$ to burn.
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Agree.Originally posted by Ayla:Gimme ur CPF balance, age and savings that you are willing to fork out... Overall, your monthly instalment shouldn't exceeds your monthly salary by 40%.
Seriously if u wish to get a Condo, make sure u get it for a good reason. Not because u want to follow the trend or because of the prestige. See whether you have sufficiet income to pay for it (esp. if at any time either urself or ur partner is not working or get retrench).
Unless you are getting a condo because of investment purposes (but then again, most condo in Singapore isn't considered much of an investment anymore!!!). -
Totally agreed!Originally posted by icebaby0:Agree.
Seriously if u wish to get a Condo, make sure u get it for a good reason. Not because u want to follow the trend or because of the prestige. See whether you have sufficiet income to pay for it (esp. if at any time either urself or ur partner is not working or get retrench).
Unless you are getting a condo because of investment purposes (but then again, most condo in Singapore isn't considered much of an investment anymore!!!). -
Some people say the reason why Singapore is trying to increase the population to 8 million is so to create a demand for property, thereby pushing up the price of public and private property.
So you can take a gamble and treat your condo as an investment. Hopefully, 20 years later, when the population increases, your investment will increase accordingly. -
8 MILLION?!?!Originally posted by charlize:Some people say the reason why Singapore is trying to increase the population to 8 million is so to create a demand for property, thereby pushing up the price of public and private property.
So you can take a gamble and treat your condo as an investment. Hopefully, 20 years later, when the population increases, your investment will increase accordingly.
I can imagine all the expressway jamming up during peak and even off-peak hrs. -
I like to stay condo, not for the trend but for the lifestyle i seek for...
I don't want to overstrectch financially. therefore, i want to check with people whether what kind of criteria for buying a 700K condo.
assume that i'm already 30 and married and have 2 kids
(now still stay with parents and single).
wife is housewife. how much should i earn? and how much money in bank account so that i can buy 700K condo comfortably? (note: with a less than 50K car)