For those who still qualify for EC, should go for it. No point jumping straight into private condos. ECs are there for a reason - to cater to the aspiration of the middle middle class (household incomes of between $10k - $12k pm). ECs will be privatized eventually.
Quote:
Originally Posted by Unregistered
Families with household income of $15k per month (basic) is considered average and should just stay in HDB flats. If you want to stay in condo, you must have a combined income of $35k per month to be on the safe side. Best if you buy the condo in cash and take no loan. Like the guy who can only afford to buy a condo in his 50s.
So, continue to save when you are in your 30s and 40s and stay in HDB flat. When you have saved $2m, then buy your condo in your 50s. Pay cash. |