By Property Soul (guest contributor)

Daniel is a single in his mid-thirties. He is staying with his parents now but is considering moving out on his own. He has a savings of $120,000 and is drawing a monthly income of $6,000. He is eyeing a studio unit in a newly-launched private residential project downtown as his bachelor’s pad.

Joshua and Esther are newly-weds. They have been looking for their ideal home for some time. They want to buy a three-bedroom flat in a condominium near to where Esther’s parents stay. They have a combined salary of $10,000 and savings of $150,000.

Both parties write in about buying their dream home, and drop the big question at the end:

“Is our money enough to buy the property?”

When buying properties, most people only focus on whether they have sufficient funds to settle the downpayment. But they miss the more important ...