Asked by James
How to finance for your house?
I'm planning to buy my first home. They property prices are very expensive nowadays. dont want to keep paying rent (I'm doing that for the past 10 years). Now the question is how to finance my initial downpayment to a home (cheapest about 500k for a studio flat). I need about 20-30% money for the initial downpayment? Let say 20%, I need about 100K? If I save for $1k per month, i need to wait 100months (~10years?) to save this money to pay for the downpayment? not even paying for the mortgage? Any suggestions? Thank you.
I'm planning to buy my first home. They property prices are very expensive nowadays. dont want to keep paying rent (I'm doing that for the past 10 years). Now the question is how to finance my initial downpayment to a home (cheapest about 500k for a studio flat). I need about 20-30% money for the initial downpayment? Let say 20%, I need about 100K? If I save for $1k per month, i need to wait 100months (~10years?) to save this money to pay for the downpayment? not even paying for the mortgage? Any suggestions? Thank you.
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