Hi all, as above.
Could someone shed me the new release price?
If the household income is around 10kSGD, is it possible to get Pavilion park landed?
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Hi all, as above.
Could someone shed me the new release price?
If the household income is around 10kSGD, is it possible to get Pavilion park landed?
i think buttercrap got an unit there..
if you check propertyguru, the unit there range between 2.8 to 3.6million..
I am curious in Pavilion park, and wondering if a household income of 10kSGD is possible to get and maintain such landed property.
No. It will take you at least 20 years to pay off the house without the interests and maintenance costs. It is just a concrete structure... no point slaving your life away.Quote:
Originally Posted by yowetan
What is worth to slave for then?Quote:
Originally Posted by hyenergix
My colleague has an intention of getting one, and his household income is around 10kSGD. In addition, their parents have just rented their HDB unit for 3kSGD per month with 500kSGD outstanding HDB loan.
U never know when you will lose job or be forced to stop working due to health reasons. Live below your means...Quote:
Originally Posted by yowetan
you mean parent have no permanent house?Quote:
Originally Posted by yowetan
too little details..... household income may be $10K but maybe holding $3m cash or other assets, how to say whether can or cannot afford.
They are bunking together in his 3 room flat (fully paid); He has plan moving the whole family (7 members) to the landed and rent out the 3 room flat as well.Quote:
Originally Posted by roly8
Yowetan..... u can check ura website.
The newest phase 2G is bet 2.3-2.4 mil for inter terrace.
First you should go and have a look at the showflat and the surroundings.
If you like then, you have to arrange to see a banker to enquire about the loan.
Then you decide whether you will become the slave or the master of the house.
Then you can decide whether you want to buy.
Quote:
Originally Posted by yowetan
The living conditions seem worse than the Bangla workers in the dormitries.... 3 generations 7 people all squeezed into a 3 room HDB flat.... all this just for what?Quote:
Originally Posted by yowetan
Actually I am quite surprised that his parents (I wonder how old they are?) still have an outstanding loan of $500k for a HDB.
These people may be losing sight of the forest for a tree. I can't help but feel that people like this are sustaining the high psf that new launches are churning out.
wow.....really stretch too max.....recession comes, rental drop and/or lose jobs den hosey liao
must haf few hundred K to ride out downturn
The kids have 500k loan lah. The parents 3room is fully paid. parents stay together so will sponsor? I heard of many case where children ask parents sponsor and say stay together. After three years kick parents out.
So if parents sponsor then the parents must include their names as co- owners .Quote:
Originally Posted by wind30
got so evil meh...:scared-5:Quote:
Originally Posted by wind30
they may even pyscho their parents to sell their 3rm flat and den use the $ to buy the landed......later den kik them outQuote:
Originally Posted by roly8
They just sell the place and dont return the money. Use the money buy new placeQuote:
Originally Posted by roly8
if u do volunteer work...u will realise so many bastards kik their parents out
some old folks got a few kids somemore....all bochap
... the way I read it is like this leh..Quote:
Originally Posted by wind30
1) grandparents have an outstanding $500k loan on HDB being rented out for $3k
2) TS's friend has a 3rm HDB fully paid.
3) 7 family members bunking in TS's friend 3rm HDB
4) family income $10k
Either way you read, it looks quite dicey to commit on a $2.5m property. Of course, unless like I have mentioned before they have a couple of million$ in the bank just sitting there.
if got millions of cash den TS will not pick his fren as an example liao....zero income aso JUST BUY LAR!!! heheheQuote:
Originally Posted by howgozit
Ya hor......Quote:
Originally Posted by devilplate
His colleague could be moonlighting as an agent or recently strike toto :p
unbelievable ..:scared-3::scared-3:Quote:
Originally Posted by devilplate
ya lor... so I always look down on people who buy house using parents money. Especially if the parents have to sell their own property to finance their children's.Quote:
Originally Posted by devilplate
Unless of course if the parents is very rich, the amount of money spent is peanuts to them, then ok lah. But if parents not rich, must dig up all their coffin money to help the children buy house..... that is really bad.
Just give you an idea of the monthly installment they're payingQuote:
Originally Posted by yowetan
500K HDB - assume still have 20yes left & CPF interest rate 2.6% ====> $2.6k
2.4M landed - assume 1.4% 1st yr 30yrs loan (80% LTV) ====> $6.5k
Total monthly installment for both =====> $9.1k
The rest you can compute yourself
How can any old folk live in this kind of tiny "landed" ? Climb up/down staircase every hour ??
To TS, you should hint to your friend, such house is not livable for his parents. No need to think about can afford or not.
interest rate gonna still be < 1% after 10 yr meh? :tongue3::tongue3::tongue3::tongue3:
I understand my friend's parent sold their unit in Jurong west and upgrade to a mature estate in Tiong Bahru HDB flat, and this is why their parents paid a premium for that. This probably explains why they are still bug down by 500ksgd equivalent loan from HDB through bank loan.Quote:
Originally Posted by howgozit
Yes, my friend (01) is currently bunking in with his in-law's (02), wife's brother (01), and his wife (01) with two kids (02). This is a total of 01+02+01+01+02 = 07.
The 3 room HDB flat is around 69-70Sqm, and is fully paid of now.
His household income, combination with his wife is around 10kSGD (max).
I did asked my friend how they bunk together under one roof; he shared one room is for himself, wife and two kids; wife's brother in living room; in-laws in another room.
The 500k HDB loan is currently financed with bank, not HDB loan.Quote:
Originally Posted by PN
HDB 3 room - what is the current market rate to rent whole unit out?
Thus, based on above computation, the monthly installation could have been much lesser?