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Thread: Biggest loan you make in yuor life before?

  1. #41
    Junior

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    ysyap is working??? I thought he is full time investor. He is making regular contribution to our forum here with wise words and advice.

  2. #42
    Junior

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    Quote Originally Posted by buttercarp
    Hi yowetan, this was your post on 30/9/2011:

    http://forums.condosingapore.com/showthread.php?t=12157
    "My current unit is a 2 bedder and was bought at 700KSGD. The recent transaction is estimated to be 850KSGD. Thus, an appreciation of 100-150KSGD.

    I am fortunate for I work in a bank and I am able to get 90% loan from workplace.

    The 7KSGD household income is inclusive of my wife and myself. We are in our thirties."

    Did you manage to sell off your 2 bedder, if so did you get a good price for it?

    We sold the unit for 800k+++.

  3. #43
    Junior

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    Quote Originally Posted by yowetan
    I am 35 year old.
    you see, i thk mm or studio for investment is ok for u.

    otherwise consider overseas property (do ur own research)...

  4. #44
    mutant powerpuff

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    Quote Originally Posted by yowetan
    We sold the unit for 800k+++.
    Oh if that's the case assuming you made a profit of 100k, then i assume, still got to return some to CPF, which means you don't have much liquid cash from the sale.
    As Lovelle has suggested get a studio. Or even an MM.

  5. #45
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    Quote Originally Posted by buttercarp
    From the sole breadwinner's point of view, it can be really stressful.
    Stress from work, wife may become naggy (cos stay at home too long- may only ar....not will become).....all these may put a strain on the marriage.
    May not be all that bad lah... some couples in the situation actually pull that off quite well although daddy has to work harder (and smarter so that he doesn't end up on the retrench list.)

    Afterall, Having mum staying at home to look after kids is also a kind of investment. The ROI for time investment in your own kids is much more valuable than $$$. You have higher chances of :
    1) having a closer family
    2) better behave kids
    3) them growing up to be more decent teenagers and adults next time
    if you teach them the correct values!!!!

    I think it is worth the hard work, stress and lesser income if the above are achieved.

  6. #46
    mutant powerpuff

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    I grew up in a family with my Dad as a sole breadwinner. Although we were comfortable financially, he frequently remarked that he felt stressed as a sole earner. I guess tha't why that has been ingrained in me since young.

  7. #47
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    Being a sole breadwinner myself, I can say that it is stressful for sure. You know that your job is all important and also means you cannot just quit if you feel like it. Plus retrenchment is always out of your control.

  8. #48
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    yowetan - By any chance, your household is making 7-8k basic monthly but not inclusive of commission and/or very good annual bonuses?

    Or is 7-8k taken from the annual pay inclusive of everything? I'm 30, took a loan of 700k over 35 years and already concerned about paying it off with my solo monthly of 7k. Single, not married so i guess i can put in more into prepayment if i wish to.

    If 7-8k is really the full amount, like all the other brothers and sisters here, i recommend not worrying about your mortgage and invest in a studio and/or put the buying on hold until the property market direction becomes clearer.

  9. #49
    Junior

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    Quote Originally Posted by Worsty
    yowetan - By any chance, your household is making 7-8k basic monthly but not inclusive of commission and/or very good annual bonuses?

    Or is 7-8k taken from the annual pay inclusive of everything? I'm 30, took a loan of 700k over 35 years and already concerned about paying it off with my solo monthly of 7k. Single, not married so i guess i can put in more into prepayment if i wish to.

    If 7-8k is really the full amount, like all the other brothers and sisters here, i recommend not worrying about your mortgage and invest in a studio and/or put the buying on hold until the property market direction becomes clearer.
    7-8k basic monthly household - I work in bank, and we do not have AWS and I have not had any bonus for past few years.

  10. #50
    Property Newbie

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    Quote Originally Posted by yowetan
    7-8k basic monthly household - I work in bank, and we do not have AWS and I have not had any bonus for past few years.
    hmm..strange. thought banking industry always give very big bonus every year one..



  11. #51
    Junior

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    Quote Originally Posted by roly8
    hmm..strange. thought banking industry always give very big bonus every year one..


    I am at consumer banking.

  12. #52
    Newbie

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    12k income should be ok for 1 m loan assuming couple in their 30s with no other financial commitments.

  13. #53
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    My retirement is well protected. I plan to have 6 kids. Each will give me S$2,000 allowance when i retire. So i will have S$12,000 each month. This is smart investment.

    Just kidding only. Don't flame me.

  14. #54
    Senior

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    Quote Originally Posted by yowetan
    What is your current household income then?
    About $10k/mth.

  15. #55
    mutant powerpuff

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    Quote Originally Posted by mygeemeel
    My retirement is well protected. I plan to have 6 kids. Each will give me S$2,000 allowance when i retire. So i will have S$12,000 each month. This is smart investment.

    Just kidding only. Don't flame me.
    LOL....if that were the case for all of us, we won't be faced with declining birth rates!

  16. #56
    Senior

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    Quote Originally Posted by buttercarp
    And you let her become a SAHM while you slave out the loan?
    What's a SAHM? I think I got the better deal... can't imagine staying home and constantly thinking of how to engage the kids and have them breathing down my neck with their noise, constant demand for undivided attention, etc... take my hats off her... Good thing got a helper to aid a bit here and there...

  17. #57
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    Quote Originally Posted by roly8
    hmm..strange. thought banking industry always give very big bonus every year one..


    Depends. if you're doing IB, capital markets etc the bonus is attractive. Back office on the other hand is in a sorry state of affairs. Also depends on which banks you're working for. Some aren't even paying bonuses for these few years to their back office staff with increments of 1-3% annually.

    The banking industry could do with some reallocation of profits amongst the departments.

  18. #58
    Newbie

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    Quote Originally Posted by mygeemeel
    My retirement is well protected. I plan to have 6 kids. Each will give me S$2,000 allowance when i retire. So i will have S$12,000 each month. This is smart investment.

    Just kidding only. Don't flame me.
    Law and medical school is quite expensive for 6 kids..hahaha... unless you plan for them to all be very good salesman....

  19. #59
    Property Newbie

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    Quote Originally Posted by ysyap
    What's a SAHM? I think I got the better deal... can't imagine staying home and constantly thinking of how to engage the kids and have them breathing down my neck with their noise, constant demand for undivided attention, etc... take my hats off her... Good thing got a helper to aid a bit here and there...
    stay at home mom...

  20. #60
    Senior

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    Quote Originally Posted by roly8
    stay at home mom...
    Thx for clarifying...

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