Like everyone else, I dreamed of owning my own place since young. In fact, I have the entire series of IKEA catalog starting from year 1995 – 2014.
Buying a HDB Resale at 35 ?
When I reached 35 in 2009, I was very excited. Hurray ! I could finally buy a HDB resale flat ! Then, I had approximately SGD 322K of investment generating a passive income of SGD 20K and SGD 222K of CPF. I spent endless hours looking through PropertyGuru, iProperty etc. hunting for suitable flats to buy (A 3 room cost approx. 250 – 450K SGD, a 4 room cost approx. 350 – 550K SGD, a 5 room cost approx. 400 – 800K SGD).
Another homework I gave myself was to check the budget I needed to allocate to fund this purchase. However, I realized that buying a home is a very costly proposition, I need consider the following ......