Agree that it may not be wise for the couple to upgrade.
But alarmed at how out-of-touch (elitist, even) some posters here are! $50k pa is about the median income of tax-paying Singapore residents, just to remind some of our HNWIs here.
This couple's pay is not "really low" as you declare. Maybe yours is "obscenely high".
Quote:
Originally Posted by Unregistered
Don't say I say, a combined income of $100k pa (or roughly $6.6k pm assuming 2 months bonus) is really low for a couple at late 40s. That is $3.3k pm per person. If one of you were to stop work or lose your job, you will immediately face problem meeting the loan payment.
If both of you are salaried workers, at your late 40s you have no much upside in your career. I give you at most one more promotion in your job, but that's not going to increase your salary much.
Another thing, you can do a quick check with the banks to see how much loan you can take for the EC based on your income and age. You will probably not be able to loan the amount you need.
So staying put in your HDB is your only option. |