It is official. CPF Board just endorsed Property Soul’s 3-3-5 rule. The statutory board recently published an article “How to use the 3-3-5 rule to consider if you can afford your new home” in its “Are You Ready?” portal. “Are You Ready?” is an initiative by the CPF Board to educate Singaporeans on how to plan for major financial decisions at different stages of their life cycle – from starting work, getting married, buying a house to planning for retirement. The article also comes with an infographic using guidelines from the 3-3-5 affordability test for home buyers to calculate housing affordability. 3-3-5 rule is not conservative. It is realistic. The 3-3-5 rule has three simple thresholds to determine whether you can really afford the home that you intend to buy. Rule #1: 30% of property price Guideline: Your initial capital should be at least 30 percent of the property’s asking ......