Before buying a property, it is important to budget
This sharing will shed light on how mortgage affordability is calculated for you in 2020!
I help private clients on mortgage insurance and mortgage planning and if you’ve questions, I’d leave my contacts below if I can be of help/
I once calculated on OWNING A $5M property in Singapore…
This was a peculiar blog because I preach financial prudence.
Often it is about budgeting and living within financial means.
The post HOW TO OWN A $5M property was first created on Oct2018 but it was to STRETCH THE IMAGINATION!
Basically, with a $24,000/m combined income, you’d STILL NEED $2.5m in capital for the purchase!
Super BIG AMOUNTS! Maybe a TOTO win is needed on top of above average income.
An alternative to buy a $5m property is HIGH INCOME OF $30,000/m income with $1.5m in capital.
Think this is a more common permutation.