Rune 0 Report post Posted October 15, 2008 A personnel sidenote, when I bought my 5 room in Sengkang Back in 1999 ... prices then for 5 room was $270k. Considered quite high already. However, with a combine CPF of 100k and HDB subsidies, we were able to comfortably pay off via the monthly CPF contributions (abt $650). This left extra cash flow allowed for purchases, upgrade in insurance cover and future plans. I have since taken up 2 retirement plans, 1 additional medical coverage and 2 investment plans and bought myself a transport. Do your sums right and we still could live within one means. I have since sold the 5 room and in the process to purchase a 4A. Actually my 1st mistake was to get a 5 room in the 1st place. The process should be in reverse order. Share this post Link to post Share on other sites
rolexboy 0 Report post Posted November 25, 2008 Jus completed 1st appt last week, OA 95K (including 40K 1st timer) We have another 40K+ in investment now, (maybe now worth about 30K or less only…) Monthly installment: 881 for 30 yrs., Me 80% my wifey 20% Combine income slightly more than 6k. Planning to pay lump sum every year/biyearly, if it’s troublesome… Originally wanted to go for 20yrs loan, but times bad, investment not workin out now… so play save (better than sorry) Share this post Link to post Share on other sites
donut88 1 Report post Posted November 25, 2008 Important note, for the first qn, the combine income should be less the $8K, not $5k! After looking at the price of resale flat, DBSS flat..i almost fainted..Just like to find out how much are you earning and what is yr currently monthly installments for a flat ? Thanks! it depends on how much reserve you have, despite of paying high installments. if you are paying high installments without any reserves, then you are in deep ****. i'm paying $1400+ for monthly installments, but i got $200k sitting in CPF OA... so i'm not worried at all. combined income $8k. On HDB loan. Share this post Link to post Share on other sites
quoo 0 Report post Posted November 26, 2008 it depends on how much reserve you have, despite of paying high installments. if you are paying high installments without any reserves, then you are in deep ****. i'm paying $1400+ for monthly installments, but i got $200k sitting in CPF OA... so i'm not worried at all. combined income $8k. On HDB loan. wah , $200K OA is alot...but all yr OA shd be wipe out when u plc a deposit..isn't it true? Share this post Link to post Share on other sites
donut88 1 Report post Posted November 26, 2008 wah , $200K OA is alot...but all yr OA shd be wipe out when u plc a deposit..isn't it true? well, yes, its true that OA will be wiped out for yr flat purchase...... but there're ways to avoid this, if u know what i mean. one way is to use the OA $$ for investments first.... then after settling the flat purchase paperwork in HDB, then u put back the money to OA. another way is if u are selling flat and buying another flat, then u can play with timing. Time your buying of the new flat so that your sales proceed of your present flat does not go into OA yet, so that HDB does not wipe out. for me, i did it the 2nd way........ Share this post Link to post Share on other sites
CutePinkElephant 0 Report post Posted November 26, 2008 whoa...200k in oa really alot ler..... us become cow horse already also not yet reach 50k Share this post Link to post Share on other sites
