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Everyone knows the good of property inv and I have some queries for your kind advise and share:

1. For monthly loan installment, what is the advisable cash top-up range or % of OA contribution?

2. If let's say a $2,000 monthly loan installment, what are the alternatives we can seek if one lost his job?

3. How much is the average legal fee for a loan of 300-400k?
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3 Answers

Dear Sir/Mdm,

1. It is up to you to decide how much CPF you wish to allocate towards servicing the property. Some owners prefer to keep the money in OA to earn higher interest rates while some prefer to use the full OA contribution to minimize the cash outlay every month. Therefore it depends on your individual objectives.

2. In the unfortunate situation that you lose your job, you may choose to rent out the property to generate rental income to repay the loan or if the property has already appreciated in value, you can cash to sell and cash out on your investment.

3. The typical legal fees is in the region of 2k to 2.5k.

Please feel free to contact me so that I can understand your needs and objectives better and provide you with further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

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Hi,
2k monthly installment is quite reasonable, of course the lesser the better. The option to general additional income is to rent out the property. If you are staying in the property, may consider rent out a room.
Please drop me an email for me to share more details.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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Robbie Chen Chee Howe
Hi,

Different people have very different risk appetite, hence there is no "right amount" that you should set aside for the mortgage repayment.

However, my advice is that before you consider an investment property, set aside sufficient "reserve fund" for "rainy days".

No doubt, property investment (in Singapore) is a lucrative investment, but the last thing you want is a default on the mortgage repayment. Property investment is for the long term, not for speculation. To win this game. ensure that you are sufficiently equipped at all times. Do not over-leverage and stretch yourself.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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