How much are you earning per annum?

Originally Posted by Unregistered

Thank you for the support Bro, anyone here dealing with cars ? I'm urgently need to sell my car away .

Bro, you can sell your car online at Singapore No.1 Car Site for New Car & Used Cars - sgCarMart

With COE rising high, I think you have a good chance to sell high. All the best.

Why not get a cheaper condo? You can get a studio or one bedroom condo in the Jurong Lake District for only $800k. From a long term perspective, this is very cheap. This area is going to be the 2nd CBD and has lots of upside potential, IMO. Since you are staying near the lake, it is also very breezy.

Originally Posted by Unregistered

i posted my profile earlier




if i plan to buy a 1mil condo, how much shld my annual income level be to realistically afford it ?

also, i understand that i'll need to have ~300k (CPF OA + CASH) for the downpayment + reno + misc expenses (stamp duty etc etc). is that correct ?

I'm a grad, 48 years old, earning only $86k. Service industry.
How come so many youngster here earning $200k?
Is there age discrimination? HR professionals, please comment truthfully.
Thank you.

SIM grad 33 years old, annual 82k including 1 month bonus. Wife earn ~75K as school teacher. Married with 3 kids.

Bought a 4 room flat in Bukit Merah for 320K now worth around 700K. Stayed there for 5 years until MOP finish then move to parent's condo so got help to look after kids. Bukit Merah flat rented out for 42K p.a (3,500 a month).

As wife is in education industry, very kiasu, all kids must send to expensive montessori, art classes, yamaha classes etc in the end also not much $$ left each month.

Originally Posted by Unregistered

SIM grad 33 years old, annual 82k including 1 month bonus. Wife earn ~75K as school teacher. Married with 3 kids.

Bought a 4 room flat in Bukit Merah for 320K now worth around 700K. Stayed there for 5 years until MOP finish then move to parent's condo so got help to look after kids. Bukit Merah flat rented out for 42K p.a (3,500 a month).

As wife is in education industry, very kiasu, all kids must send to expensive montessori, art classes, yamaha classes etc in the end also not much $$ left each month.

You don't actually need to send to the very expensive child care centers, those normal ones will do. When they grow up, does not make much of a difference. The most important is the parents must always be around to nurture them. Your wife cannot outsource her responsibility. You too cannot be an absent father, don't spend time partying, watching TV, surfing, etc. Spend time nurturing your children yourself. I resigned from my work to take care of my children, now they are doing well.

[Dean]

Originally Posted by Unregistered

i posted my profile earlier




if i plan to buy a 1mil condo, how much shld my annual income level be to realistically afford it ?

also, i understand that i'll need to have ~300k (CPF OA + CASH) for the downpayment + reno + misc expenses (stamp duty etc etc). is that correct ?

That is correct. 20% downpayment with CPF or cash, + the amy required for agent fees, stamp duties, renovation and stuff.

What you need to do is to get a loan assessment done to make sure the bank is able to loan you the balance of amount required. Having said all that, you should be able to afford a 1 mil condo if you are prudent in your expenses, but servicing it alone will be tough.

Originally Posted by Unregistered

I'm a grad, 48 years old, earning only $86k. Service industry.
How come so many youngster here earning $200k?
Is there age discrimination? HR professionals, please comment truthfully.
Thank you.

No offence but i reckon you are in the wrong line. Being a grad at this age, you should have earned a lot more.

But to each his own, you may be comfy with your current job profile which only entitles you this remuneration with lower stress and responsibility.

I guess its every one's wish to have low stress job and less responsibility with High Pay.

Originally Posted by Dean

With a take home of 3800, you are spending 1200 per month (30%) of you disposable income on car?
And a further 550 (~15%) on enrichment?

This makes it a whopping 45% on disposable income on non-essentials. Now do you know why you have no money?
Singapore's public transport system is efficient enough. Use it.

I agree with your point, thats the problem with our young singaporeans. hand-to-mouth month on month... Why need a car if cant maintain it ?!

Foreigners are coming in and pushing up our housing price and COE as well (foreigners with wealth of at least S$2million cant be PR/singaporean, can we outrun them? )

If we ride on the band wagon. we would sink ourselves deep into debt with loans to service.So now govt comes up with lots of measures to knock senses into Singaporean. I guess govt message is clear, "if u cant put down 50% down payment... i.e. u are not wealthy enuf to own a car"

Originally Posted by Unregistered

I agree with your point, thats the problem with our young singaporeans. hand-to-mouth month on month... Why need a car if cant maintain it ?!

Foreigners are coming in and pushing up our housing price and COE as well (foreigners with wealth of at least S$2million cant be PR/singaporean, can we outrun them? )

If we ride on the band wagon. we would sink ourselves deep into debt with loans to service.So now govt comes up with lots of measures to knock senses into Singaporean. I guess govt message is clear, "if u cant put down 50% down payment... i.e. u are not wealthy enuf to own a car"

correction： "Foreigners are coming in and pushing up our housing price and COE as well (foreigners with wealth of at least S$2million, among other conditions, can be PR/singaporean, can we outrun them? )"

Female 30 years old
Monthly salary:8K
Bonus: Maybe about 2-3 months
Money in bank account: 250K
Shares:60K

And yes, I'm still single...