micollh:

net $4500 is eligible for condo ? i thought there is a minimum total income for HDB/Condo ? no ?


I would feel with the combine of 4,500, it's quite challenging to pay ur HDB loans dun say condo(min 3k and above mthly)

Is there are min income for Condo?
$4600 is the amount remained after CPF deduction.
It is just a matter of affortability. But I do realise that there are alot of richer ppl around me...since the median income is $5000*.8=$4000 per adult... even with degree, increment can nvr catch up with inflation.

Assuming we can save $2000 per month in joint acc (+ year end bonus), I can pay off the HDB loan at the end of the fifth year with cash. So, it is not that challenging.

Harleston, will u be buying EC or condo?


Right now, we are considering to sell our HDB and buy EC instead of Condo as Condo seems out of our reach, unless our income increases significantly. Owning two properties seems not feasible at current market pricing.

financial_guru, I am 31 this year. My DH is 28.

The flat was purchased on Jan 2010. So, we still have to service it till Jan 2015 before we can buy a 2nd property.

After re-calculating, if I were to re-finance the HDB loan, i.e. using cash of $125k & all the balance in CPF O.A, I would be able to clear the HDB loan by Jan 2015.

1) If it were u, would u be topping up $125k cash?

2) After I repay all the loan in HDB, how much the bank will loan me? 80%? Thanks thanks

3) Additionally, i realised that I have less cash after the cash re-payment... So, I have to start saving again...Hopefully, after another 5 years, I will have more than $100K again...

After reading this thread, I realised that there are a lot of you have the money work for you. e.g. got property to rent out for passive income.


We only save 40%. Currently, I am staying in HDB with approx 200k loaned from HDB.

Pls advise me is it possible for my money to work harder to buy a second property (e.g. condo)