FLAMINGO VALLEY, FH

[yowetan]

Congrat yowentan... How much monthly payment do u have to pay? It must be quite sizeable

Hi..it is around 4.1K approximately based on 90%, 35 years loan tenure.

[yowetan]

aiyo, one of the forumers txt me : "Ah Tan bot FV, finally some excited thing come to the forum, Everyone congrate him and whether I still look down on him."

Firstly, congrat to Ah Tan on the purchase of his 4th property. It took so long and so many of us, much efforts to tell him that Mt Sinai route is too difficult for him. At least, a more sensible decision is taken even though it is so late, but better than never.

I think, we would expect some threads from him like
1. How to get into Tao Nan School?
2. How to make full use of the condo facilities, like showing in the condo bathroom etc.

90% loan is definitely not a wise choice for own stay property as interest expense is not deductible against rental income from other properties. Interest is matched specifically property to rental of that property.

I am thinking of buying Eco for my son, and I will take a look of FV this weekend and perhaps, getting FV for my son, and let him be Ah Tan's neighour and private eye of this forum.

Hi. Thank you for your well-wishes.

You are welcome to get one unit and it will be nice to have you or/and your son be my neighbour.

As mentioned earlier, there are several units with better facing and space available in dual units type. However, they cost 1.6 mil and above which is way above my budget.

[indomie]

Hi..it is around 4.1K approximately based on 90%, 35 years loan tenure.

I admire your determination and your ability to squeeze and stretch every ounce of your finances to get what u want.... Not to mention bravery.

[phantom_opera]

Hi..it is around 4.1K approximately based on 90%, 35 years loan tenure.

yowetan, if your family income is 10k, it is going to be tough if interest rate goes up

but who knows rate might stay very low at this level for donkey years to come and you might be able to sell one of your HDBs when it hits 1m and cut down your debt

still your gearing is very high, assuming you still have outstanding loan of 400k, that means your total debt now will be around 1.8m ... that is way too high for a family with 10k income per month

[yowetan]

yowetan, if your family income is 10k, it is going to be tough if interest rate goes up

but who knows rate might stay very low at this level for donkey years to come and you might be able to sell one of your HDBs when it hits 1m and cut down your debt

still your gearing is very high, assuming you still have outstanding loan of 400k, that means your total debt now will be around 1.8m ... that is way too high for a family with 10k income per month

Hi. My current household income is around 7k+SGD.

I am combining the household income with my parents and in-laws disposal income of 5++K SGD monthly. Thus there is a total of 12+++KSGD disposal cashflow.

Yes, thank you for reading my posts - My current HDB flat has an outstanding loan of 450k approximately. The loan is from SCB @ 0.65+Sibor rate.

The second loan as mentioned will be based on the 90% of the purchased price, at the rate of Sibor+SOR combination with base rate of 0.40%.

[hyenergix]

Hi. My current household income is around 7k+SGD.

I am combining the household income with my parents and in-laws disposal income of 5++K SGD monthly. Thus there is a total of 12+++KSGD disposal cashflow.

Yes, thank you for reading my posts - My current HDB flat has an outstanding loan of 450k approximately. The loan is from SCB @ 0.65+Sibor rate.

The second loan as mentioned will be based on the 90% of the purchased price, at the rate of Sibor+SOR combination with base rate of 0.40%.

Good to get a FH condo. I hope you don't over-stretch yourself and have insurance for protection against unforeseen.

[yowetan]

Good to get a FH condo. I hope you don't over-stretch yourself and have insurance for protection against unforeseen.

Thanks. I am also worried about this though I remain positive over this.

There is another unit 840sqft 2 bedder going for 1.17milSGD. Do you all think it is a good price unit? I am intending to ask my friend to get it.

[kskong2000]

Mr tan, I do admire your determination but wonder is it so important to own a condo? Taking such a long term commitment by including ur paren and pil income who might be at the age of retirement. Also ur kids will be growing up in such crowded room.

Anyway, congratulation to u.. Although I never make comment, i do sometime follow ur news..

The layout posted by bro PO shows 3 bedrooms in total

You, wife & 2 kids take the master bedroom
Parent take one
PIL take the 3rd room
Your wife's brother sleep where?

[sh]

Congrats... Everyone is following you story.

Hope you made the right choice.... Property prices go up....

Everyone Huat ah!

Except mr b....

[yowetan]

Mr tan, I do admire your determination but wonder is it so important to own a condo? Taking such a long term commitment by including ur paren and pil income who might be at the age of retirement. Also ur kids will be growing up in such crowded room.

Anyway, congratulation to u.. Although I never make comment, i do sometime follow ur news..

Hi.. It is not important to own a condo, but owning an asset I appreciate.

I believe Mt Sinai or Siglap area will improve and help my kids in future.

[minority]

Mr tan, I do admire your determination but wonder is it so important to own a condo? Taking such a long term commitment by including ur paren and pil income who might be at the age of retirement. Also ur kids will be growing up in such crowded room.

Anyway, congratulation to u.. Although I never make comment, i do sometime follow ur news..

I would be worried if I am ur parents where the disposal income is being used to pay for the home. ur disposal income have to consider daily expenses too.

[bakasa2002]

Yowetan, which stack did u buy? Got a friend keen too...

[30years]

Hi.. It is not important to own a condo, but owning an asset I appreciate.

I believe Mt Sinai or Siglap area will improve and help my kids in future.

If you are someone I know and care about, I would strongly advise you to return the unit back to the developer.

I offer no reason for my advice. Just my sixth sense telling me that it is not wise for you to buy now.

[CondoInterested]

Parents & In Laws staying together

Let's imagine

You are brave ...

[Sleepyhead]

Congrats bro!



Very happy that you finally Took the plunge!

[zeamybro]

Congrats yowetan. Since u hv already made yr choice, the next thing u could focus on is to work extremely hard, aim for promotions, huge pay rise etc

All the best to you!

[Rein]

Even though Im new to this forum, I really feel happy for Yowetan for accomplising his dream

Huat AR~~~~

[lifeline]

my heartiest congratulations to you Yowetan !!!
finally you found what you wanted.
Life is getting better and better day by day ...
Live well !

Cheers,
lifeline

[alamak]

I would be worried if I am ur parents where the disposal income is being used to pay for the home. ur disposal income have to consider daily expenses too.

I have a friend 20 years ago who beg me to "buy" in name his landed-semi as he fear the bank will forfeit his house after losing a big-paid job due to sudden retrenchment. I never asked the details. He was such a senior chap but yet he never do his calculation right. Maybe he has other investments as well. Obviously he was threading on very thin rope or walking on ice as some might said.

Just to share.

[Reisor]

Parents & In Laws staying together

Let's imagine

You are brave ...

I really do not think it is a good idea for parents of both sides to live together. The only common interest may be the grand children which might be the subject of squabbles over bringing up issues, discipline etc.

I have even seen & experienced spouse & MIL issue after 10 over years even though everything seems fine for a decade.

Every family need own personal space and an apartment may not be suitable for such kind of communal living. Only those kampong, multiple mansions, multi-floor apartments can accommodate.

Since it's been bought, can also change plans for how to stay. Happiness in a family can only be found in a home, not in a house.

[radha08]

I have a friend 20 years ago who beg me to "buy" in name his landed-semi as he fear the bank will forfeit his house after losing a big-paid job due to sudden retrenchment. I never asked the details. He was such a senior chap but yet he never do his calculation right. Maybe he has other investments as well. Obviously he was threading on very thin rope or walking on ice as some might said.

Just to share.

if he managed to hold his semi-d until today he would be very very very very....RICH$$$$$

[alamak]

my heartiest congratulations to you Yowetan !!!
finally you found what you wanted.
Life is getting better and better day by day ...
Live well !

Cheers,
lifeline

I never comprehend when some people say "life is getting better and better day by day " and "accomplishing your dream" if you suddenly realise that you are sustaining a 3 tonne rock on your shoulder.

Life can only getting better and better when you have time to chill at the pool and sleep soundly at night and you can then say you have realised your dream else you are just sustaining your dream.

[carbuncle]

There is always the option of the studio as the .cooling off. room....

[alamak]

I have a friend 20 years ago who beg me to "buy" in name his landed-semi as he fear the bank will forfeit his house after losing a big-paid job due to sudden retrenchment. I never asked the details. He was such a senior chap but yet he never do his calculation right. Maybe he has other investments as well. Obviously he was threading on very thin rope or walking on ice as some might said.

Just to share.

and yet another professional-turned taxi driver in 2002 and barely-turned forties kenna stroke. Wife sold Melville Park condo for barely $400K (bght for $600K) to some Indian PR after staying in for 6 years. That's is living you dream or merely sustaining your dream or should I say a dream turned into reality.

[Sleepyhead]

I never comprehend when some people say "life is getting better and better day by day " and "accomplishing your dream" if you suddenly realise that you are sustaining a 3 tonne rock on your shoulder.

Life can only getting better and better when you have time to chill at the pool and sleep soundly at night and you can then say you have realised your dream else you are just sustaining your dream.

In ah tan's defense... The upsides are more likely than the downsides right? So it's right to take the plunge in his property decision.. No risk. No reward.l

If touch wood things turn sour, he can always sell up and return to one of his two HDBs.. Not as if he has no options and must live under the expressway....

[phantom_opera]

Ah taN joined the dark side, there is no turning back now, pledge your loyalty to emperor PAPatine by completing the s n p

[samuelk]

I am under staff loan scheme which is not under jurisdication of MAS LTV limit.

bro yr story don't telly. You sure yr data provided is correct.

[alamak]

bro yr story don't telly. You sure yr data provided is correct.

This staff housing loan thing is very much of the past for big private Corp inclu. GLC. In current economic climate only financial institutions and banks are willing to include such staff welfare incentive, i think.

[Laguna]

家中有九口
再加狗一口
同住千尺屋
同挤沙发椅
同吃大锅饭
同盖大棉被
是灾或是福
见仁见智也

[Cyberknight]

This staff housing loan thing is very much of the past for big private Corp inclu. GLC. In current economic climate only financial institutions and banks are willing to include such staff welfare incentive, i think.

Staff housing are still available up to 90% in many of e banks, however, the MAS regulations is over riding and will still need to apply. Especially if it is a second loan, can only borrow up to 60%.

Yowe tan,

I will suggest you double check, triple check with your staff benefits admin.