Sky Habitat - Bishan

[Eastboy]

Your food plus entertainment is only $800 SGD/mth? That is very disciplined of you... my family spends about $600/mth on grocery alone, not mentioning the occasion eat out and don't even have entertainment yet...

i must learn to be more prudent and thrifty from you bros here...i spend about $800/mth just dining out on my OWN.

[DC33_2008]

Who is more famous? Sir Norman Foster, Maki or this one?

Hi Mate, for your information, Moshe Safdie is already 70yrs old.

[ysyap]

i must learn to be more prudent and thrifty from you bros here...i spend about $800/mth just dining out on my OWN.

Well if you are a regular eat out person, then you probably save big time on groceries lor.. just buy the normal stuff needed at home w/o food...

[yowetan]

Your food plus entertainment is only $800 SGD/mth? That is very disciplined of you... my family spends about $600/mth on grocery alone, not mentioning the occasional eat outs and don't even have entertainment yet...

We are a simple family. Currently, I am bunking in my parents in my 5 room HDB, and renting out their old HDB at 2600SGD per month.

That is to say, my household income of 7K++ with 2.6K closing to 10k per month.

I like to invest SH 1 bedder to 2 bedders.

[Kenshinto80]

Currently, I have the following commitments:

1. 2 infant kids - cost around 1000SGD per month
2. 1 car - installment + petrol + insurance + misc = 1500SGD per month
3. Life insurance (Whole family) - 1200SGD per month
4. Utilities + internet - 350SGD per month
5. Food + entertainment expenses - 800SGD per month
6. Misc - 500SGD per month
7. HDB installment - 1700SGD per month (CPF Clear 1000SGD)

That's all.

Total =

Hi Yowetan, you are blessed to have 2 kids. Wonderful. Based on your ability to break down your expenses effortlessly and the life insurance, I would say you are doing very well and extremely financial savvy. Accumulate more cash and wait for the right opportunity to strike. You are way ahead of many people on this forum. Also you would probably agree with me that wealth does not mean earning a rocket high monthly income. Some people can earn 10k per month n spend 10k....that is not wealth.

[Worsty]

Oh you are very impressive; You alone making more than 7500SGD per month? What is your profession?

Thanks for the cautious advice.

Job title's associate but really I do a bit of everything over in my firm which is a boutique fund house. From going over legal documents about new funds offering, advising clients on fund structure to save tax and/or abide by US Gapp or IFRS accounting rules, liasing with 3rd parties, auditors, present my firm's services to potential clients etc. Accounting and finance based.

My friends most who are lawyers or traders are doing far better financially. Trade off with the numbers of hours worked or stress level i guess. Can't really complain. Already better than most.

I think for your case, it's best to pay up your mortgage loan and save up for your kids studies. Stay debt free. Current prices are crazy and not sustainable. We're already amongst the top 10 most expensive country to live in. Easy weath through increase in property prices is a thing of the past. Don't get burnt just because others are diving in.

Most important is to be healthy, be in good company of friends and family and be financially stable which you are at the moment. Don't tilt the balance. This is how i see and play the life game. There's only so much one can bring to his grave.

[DC33_2008]

Does not matter as long as you are one of the better ones in the industry. It can be any industry. Did you see even people selling popiah can be successful to be a popiah king.

What are their profession by trade then?

[DC33_2008]

It is about wealth creation with multiplier.

Hi Yowetan, you are blessed to have 2 kids. Wonderful. Based on your ability to break down your expenses effortlessly and the life insurance, I would say you are doing very well and extremely financial savvy. Accumulate more cash and wait for the right opportunity to strike. You are way ahead of many people on this forum. Also you would probably agree with me that wealth does not mean earning a rocket high monthly income. Some people can earn 10k per month n spend 10k....that is not wealth.

[yowetan]

Job title's associate but really I do a bit of everything over in my firm which is a boutique fund house. From going over legal documents about new funds offering, advising clients on fund structure to save tax and/or abide by US Gapp or IFRS accounting rules, liasing with 3rd parties, auditors, present my firm's services to potential clients etc. Accounting and finance based.

My friends most who are lawyers or traders are doing far better financially. Trade off with the numbers of hours worked or stress level i guess. Can't really complain. Already better than most.

I think for your case, it's best to pay up your mortgage loan and save up for your kids studies. Stay debt free. Current prices are crazy and not sustainable. We're already amongst the top 10 most expensive country to live in. Easy weath through increase in property prices is a thing of the past. Don't get burnt just because others are diving in.

Most important is to be healthy, be in good company of friends and family and be financially stable which you are at the moment. Don't tilt the balance. This is how i see and play the life game. There's only so much one can bring to his grave.

Thanks for being truthful and geniune advice. I appreciate that.

I am trying to control my budgetary and make sure I have had enough to tide and thread through difficult times ahead.

[silver023]

Does not matter as long as you are one of the better ones in the industry. It can be any industry. Did you see even people selling popiah can be successful to be a popiah king.

Or char siew?

[yowetan]

Hi Yowetan, you are blessed to have 2 kids. Wonderful. Based on your ability to break down your expenses effortlessly and the life insurance, I would say you are doing very well and extremely financial savvy. Accumulate more cash and wait for the right opportunity to strike. You are way ahead of many people on this forum. Also you would probably agree with me that wealth does not mean earning a rocket high monthly income. Some people can earn 10k per month n spend 10k....that is not wealth.

Thanks for the encouragement; I hope I am heading the right direction. The temptation these days are overwhelming.

[DC33_2008]

No one bites. So no go.

Or char siew?

[cartman]

i must learn to be more prudent and thrifty from you bros here...i spend about $800/mth just dining out on my OWN.

holey crap, i spend more $4K/mth just on dining out but less than $1K on grocery as don't know how to cook.

[Rosegarden]

i just bot one unit..i am their first customer..

Dont they give first rights to directors, management and biz associates?

[rymccondo77]

Dont they give first rights to directors, management and biz associates?

Perhaps he is the first customer other than the directors/management/biz associates to get his unit.

By the way, congrats to flagship74 for his purchase

[ysyap]

We are a simple family. Currently, I am bunking in my parents in my 5 room HDB, and renting out their old HDB at 2600SGD per month.

That is to say, my household income of 7K++ with 2.6K closing to 10k per month.

I like to invest SH 1 bedder to 2 bedders.

Your parents give you the whole 2.6k from rental or just a portion? Actually my family only me working. Your parents must be doubling up to take care of your kids (i'm assuming that) so that is already a blessing, or is it? Sometimes pursuing dreams can be very tempting but patience pays... now is still not the time to enter... sky habitat might be snatched up but how much higher can the price climb should you want to sell it in future? Same price as CCR? Who'll bite?

[Xan]

We are a simple family. Currently, I am bunking in my parents in my 5 room HDB, and renting out their old HDB at 2600SGD per month.

That is to say, my household income of 7K++ with 2.6K closing to 10k per month.

I like to invest SH 1 bedder to 2 bedders.

Well you mentioned you had a combine income of 7+K and rental 2.6K = 10K and your overall spending is about 6.5K per month. which means you probably have savings around $3.5k per month.

Say if you buy the cheapest SH unit at 1.1mil.
You will probably go for 60%LTV (Since your hdb not fully paid off).
This means you need at least 420-450K of cash upfront to pay for the 40% and stamp duty.
But be warned and dont presume buying new launch just need 20% payment and thinking you can delay another 20% in another 1-2 years time.
This will be extremely dangerous.
Buy only if you can afford comfortably.

Not forgetting. your SH monthly installment (going by 30 yrs tenure and interest rate of 1.1% will still requires you to pay around 2.5k to 2.8k in cash monthly as your outstanding loan would be around 600+K)

Seems pretty stretch for your case. Do consider properly.

Above are just my rough estimation. For your consideration.

[rymccondo77]

Thanks for the encouragement; I hope I am heading the right direction. The temptation these days are overwhelming.

Great to hear that you have young children - they are a blessing! Enjoy your children (IMO, this is far more important then trying to get a condo which one may not be able to afford).

[ysyap]

holey crap, i spend more $4K/mth just on dining out but less than $1K on grocery as don't know how to cook.

What you do eat, man?

[phantom_opera]

Why need 1k+ insurance monthly? All u need us ntuc Luv plan at no more than 200 per month

[yowetan]

Your parents give you the whole 2.6k from rental or just a portion? Actually my family only me working. Your parents must be doubling up to take care of your kids (i'm assuming that) so that is already a blessing, or is it? Sometimes pursuing dreams can be very tempting but patience pays... now is still not the time to enter... sky habitat might be snatched up but how much higher can the price climb should you want to sell it in future? Same price as CCR? Who'll bite?

Yes, my parents are giving everything to us. You are also right that they help taking care of our kids.

[Xan]

Why need 1k+ insurance monthly? All u need us ntuc Luv plan at no more than 200 per month

I guess for his case, 2 adults plus the 2 kids. yes, around 1K+ of insurance monthly.
For my case, I'm already paying $400 plus of insurance per month liao.

[yowetan]

Well you mentioned you had a combine income of 7+K and rental 2.6K = 10K and your overall spending is about 6.5K per month. which means you probably have savings around $3.5k per month.

Say if you buy the cheapest SH unit at 1.1mil.
You will probably go for 60%LTV (Since your hdb not fully paid off).
This means you need at least 420-450K of cash upfront to pay for the 40% and stamp duty.
But be warned and dont presume buying new launch just need 20% payment and thinking you can delay another 20% in another 1-2 years time.
This will be extremely dangerous.
Buy only if you can afford comfortably.

Not forgetting. your SH monthly installment (going by 30 yrs tenure and interest rate of 1.1% will still requires you to pay around 2.5k to 2.8k in cash monthly as your outstanding loan would be around 600+K)

Seems pretty stretch for your case. Do consider properly.

Above are just my rough estimation. For your consideration.

I worked in the bank, and I am intending to get 90% using staff housing loan plan if and if only I am eligible, subjected to manager's approval.

[ysyap]

Why need 1k+ insurance monthly? All u need us ntuc Luv plan at no more than 200 per month

Different types of insurance mah... from life insurance to education to hospitalization to accident to major illnesses to motor insurances...

[yowetan]

Why need 1k+ insurance monthly? All u need us ntuc Luv plan at no more than 200 per month

The insurance premium covers my

1. Family (2 adults + 2 kids)
2. Parents (2 elders)
3. Housing insurance plan

What is NTUC LUV Plan?

[Xan]

I worked in the bank, and I am intending to get 90% using staff housing loan plan if and if only I am eligible, subjected to manager's approval.

Seriously bro, dont play this kind of game (90% loan?? *faint*). Its a big "No" "No" to me. Not trying to pour cold water, but Very very scary.
Especially when kids comes into the picture.

[jwong71]

maybe yowetan brudder know something which we do not know

all his posts are dying for a pte property purchase.

there's no stopping the charging bull.!

[yaozong7]

I worked in the bank, and I am intending to get 90% using staff housing loan plan if and if only I am eligible, subjected to manager's approval.

90% loan and working in bank somemore? V risky leh.........give it a miss bro. Unless u working in a retrenchment proof job like mine! Joking, haha.......

[DC33_2008]

Liew ML may be smiling but did you see him buying? He has cashed out a very good development in CBD and bought into his own development, Interlace, in 2009. His children bought some too. All these transactions are made note to shareholders.

Dont they give first rights to directors, management and biz associates?

[Rosegarden]

ya owning a piece of wonderful architecture is an investment. it's like buying art, really. ok, i'm sold.

Amidst all those boring square blocks, the urge to own something unique (at least in Sgp) and beautiful is overwhelming. It's a good selling point, but will there be enough of these buyers, like 500-ish....?