Yesterday went to finalize the $$ loan Amount for my upcoming reno on my Highly Developed Block(HDB) flat...
Total reno amount $27k...have not taken into account $$$ needed for buy acc like cooker/hob/toileteries/sink...etc etc..
Interesting thing is that my Reno guy VERY willing to give me a MUCH Higher amount on the package so i can get a MUCH higher loan...he was saying something like we can loan $35k so he gives me cash back $8k to buy or DO whatever i want
I know many years ago this kind of thing was rampant and people used to abuse the reno loan and get a lot of $$$ at LOW interest rates...some use it wisely others BLEW it all..
![Doh](images/smilies/doh.gif)
..then the authorities stepped in to stop all the nonsense
Anyway point of my long thread on a saturday mornig when everyone is sleeping
![Big Grin](images/smilies/biggrin.png)
...is that everything can BE arranged even in sunny singapore...my reno guy told me typically people take 10 to 15k in cash back for whatever reason...
But END of day after a late night BOARD meeting with my finance minister last night...
![Big Grin](images/smilies/biggrin.png)
...we calculated interest for 5 years to be about $4 to $5k
![EEK!](images/smilies/eek.png)
so we decided to pay the reno cost in....cold hard $$$CASH$$$
Have a great weekend and dont worry if u need $$$...go do a reno and u can get $$$
![Cheers4](images/smilies/cheers4.gif)
![Big Grin](images/smilies/biggrin.png)