Personal Finance
Landed property and car with $6K per month household income
By Singapore Man of Leisure  •  April 22, 2016
Success is what we have to sacrifice to achieve it. Hold on to this thought as I share with you this story about my colleague. I think their story can be a good counterbalance to financial bloggers and readers who think (and plan) too much. Husband and wife in their early 30s. Combined household income around $6K per month. One is a technician, the other in retail sales like me. Both non-graduates. Nope. Not even A' levels or Poly. They are now living in a landed property, and have a car. No, they never invested, start a business, or embarked on any financial freedom journey. So how did they do it? Both got married early. Bought their HDB 4 room flat before prices went ballistic. Rented out the whole flat. With the rental income in Sing dollars, they in turn rent their landed property in JB near the 2nd link with Ringgit dollars. That area is fast becoming Little Singapore.
Not those huge Bukit Timah or Katong houses mind you. More like those quaint SIT/HDB landed terrace houses that lined Commonwealth Avenue, or similar to those 70s private landed houses that lined the Macpherson road area. But still, they have small garden in front and a yard at the back, plus space for 1 car driveway/garage. Got left over from their Sing dollar Ringgit arbitrage that they can afford a Singapore car. How? Earning power in Singapore, cost of living expenses in JB. Power! Of course there's no free lunch. They have to sacrifice extra 2-3 hours each day braving customs. Before you argue back, when was the last time you are able to leave work on the dot when you have a high power career? No 60 hours work week to justify your high salary? You lucky basxxxd!
Singapore Man of Leisure (welcome to my blog; just google it!)
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7 Comments

7 responses to “Landed property and car with $6K per month household income”

  1. Frederick says:

    Fulfilling a dream to stay in landed this way is sheer madness. On the other hand, if it is for the want of owning a car lifestyle but do not mind staying in depleted condition of a landed property and the long traveling time, I applaud the young couple. Haha…it is called by hook or by crook….

  2. Frederick says:

    Sorry, typo ( auto- correct) , ‘depleted’ should read as dilapidated.

    • Frederick,

      I suspect you are not too familiar with “Little Singapore” in JB.

      Saw the pictures my colleagues rented house there – looks quite new leh.

      Definitely not dilapidated ;)

      Overseas friends or classmates may say that of us over here.

      Get into a 30 year loan so we can “work” for the bank our whole adult working lives so we can live in hole in the sky?

      Sure madness!?

      LOL!

  3. desmond says:

    Hi SMOL

    Yes, that’s definitely a dream that I heard many Singaporeans have “crossed over” to , buying landed, terrace in Malaysia. In fact, I was also contemplating that for my retirement move but with 2 young kids and not prepared to get a car, I shelf aside the plans for now.

    The biggest draw is not so much about the property appreciation but the sheer size and “luxury feel” that one can immediately upgrade to once they made the move, like a 4rm flat here to a double storey bungalow. with a pool…..

    With transportation getting more efficient these days, I believe the highways jam would improve over time and more (I suspect) would slowly move over as the costs of living here keep going up…..

    Nice article, keep on writing !
    cheers
    desmond

    • Desmond,

      I know what you mean ;)

      My regret is I can’t give mom “land” for her plants. Thank goodness my SERs replacement unit has a balcony as alternative. But I know its not the same…

      I hope the high speed railway link from Singapore, KL, Bangkok, to Kunming China can be completed within my lifetime.

      I think that will throw up even more opportunities for travelling and an alternative retirement home for those of us who are “citizens of the world” ;)

  4. sinkie says:

    Heheh, if they rented out their HDB before 5 years, they’re committing a misdemeanor with HDB regulations.
    Less obvious with resale, but easily found out by neighbours if new BTO.

    Also the types of tenants you get plays a critical role whether neighbours will report you to HDB.

    • Hello sinkie,

      I’m sure if you are the neighbour you will surely be the first to report to HDB.

      You know, you being law by law whiter than white Singaporean ;)

      Thanks for your concerns.

      I’ve written my colleague and family are in their early 30s.

      They got married early.

      No worries. Everything is legal.

      You know what you remind me of?

      The kind of teacher’s pet we remember fondly in school – Or! You all die! I go tell teacher!

      LOL!

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