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Old 08-12-2014, 07:54 PM
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Originally Posted by Unregistered View Post
This will not come across as nice, I must admit.

130k pa HH income is probably on the 60th percentile mark.you can check out the ranking toolin this salary.sg site.

It is unwise for a 60th percentile family to stay in a condo UNLESS Your wife is just temporarily a housewife and she plans to work again soon...
Why not? I have friends whose HH income (both husband and wife working) is less than mine (one person working) and they qualify for EC. Their EC cost and loan are similar to mine. Why can they and why I could not? My job is very stable and I should be able to finance my mortgage without any problem. As long as I'm working, we can stay in the condo. If anything happens to me and I can't work, we will then downgrade to a hdb flat and my wife will have to go back to work.

By the time I reach 65 and retire, I would have paid off the condo. We can then sell the condo and move to a studio unit. I will have cash to invest and CPF Life.
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