depends on how fast u wanna buy
like, in a year's time? or in 5 years' time?
or just dreaming
If u are single above 35 and not making like $12000 per month, you qualify for 2-rm HDB BTOs. They cost only between $13000 to $20000 after subsidies. The only con is u need to wait 3 years to get your flat after subsidies. Also they are oversubscribed many times so u probably need 1.5 years to be able to successfully win a ballot.
Watch https://www.youtube.com/watch?v=BwL_SRr3gNU and http://esales.hdb.gov.sg/hdbvsf/eaap006p.nsf/html/2room.htm
If you spend $15000 to $40000 on renovations, you would be able to get your bare flat to just as nice.
8000
I would think 12000 would be comfortable..
it depends. What type of condo you want.
I think 10000is enough
8000
8-10k at LEAST. Condo prices are carzy now... If not in the long long run you'll suffer....
10000 at least
...and the ~300K cash component....i'd buy something in KL or BKK for a fraction of the price
before i would attempt to answer, i would like to find out your motive:
1) as a place to stay?
2) as an investment property?
it also depends on whether u do intend to get married, have kids and so forth.
like some of the posters suggested, i would look at a minimum of 7k/month income, in order for you to live comfortably.
but like some have suggested, perhaps the HDB route is better for you. less costly, so u can save up for investments/retirement fund
a couple can only stay in condo if combined salary above $15,000 ba
An idea to invest for a reasonable or luxury condominium Singapore needs proper decision, regardless of the actual location. Of course, it is best that we have the exact tips to follow and spend for the exact property in this beautiful country.
See the true value of your EC with
NO Resale Levy
Household income ceiling raised to $14,000
Your Affordable Investment
Mr and Mrs Lim intend to purchase a 4-Bedroom unit EC of $890,000 under the Normal Payment Scheme. They are second time buyers and draw a combined monthly household income of $11,000.
Purchase Price $890,000.00
5% Downpayment (cash) $ 44,500.00
Balance 15% Booking Fee (CPF/Cash) $133,500.00
Balance amount $712,000.00
Less Sales Proceed from the existing house* $200,000.00
Housing Loan $512,000.00
Monthly installment** $ 2,170.13
Monthly CPF Contribution to Ordinary Account*** $ 2,100.00
Cash Top up Per Month $ 70.13
Total Cash Outlay if the EC is subjected to Resale Levy $89,500
Resale Levy of 5-Bedroom HDB unit $45,000**** +5% booking fee $44,500
* Assume the existing house will be sold at $400,000
** Loan of 25 years and based on interest rate of 2.0%
*** Couples above 35 years old to 45 years old, with total combined household income of $11,000 (assuming $5,500 each)
**** Resale application to sell the first subsidised flat was received on or after 3rd March 2006
I think combined income at least 15K. There's a cap now on that you can utilised only 30% of your income to service your bank loan. Unless you are cash rich ...
omg.... condo is so dangerous. i think its one of those things that "if you need to ask, you can't afford it", no offence. i truely pity those who needs things that are happen to be expensive to be happy, im not saying they need expensive things to be happy.
paying for condo is part of expense, i think it all boils down to financial planning. i think its safe to say, the combined income of ur spouse and u should be twice of ur family expenses so that all is not lost if one of you lost ur job or if both of u downgrade ur job to lower pay when economy crisis hits.
I rather buy landed property.
Wanted to check your maths and you can get what you were talking about for under $1million.
Perhaps it is cheaper than you thought originally to buy and that could change the answer to how much you need to earn per month?
.
HDB la bro
Subtract the down payment from the purchase price, divide by 12 then divide by 20 to get monthly cost for loan. Then add an interest rate of 4% per year and that should be no more than 25% of your income for the next 20 years. Watch to make sure your interest rate is fixed or variable, likely variable so will need to watch your budget carefully. Buy what you can afford, not try to afford what you want to buy.
8k
nice info
Depends upon how much you earn and how much save la
.