Asked by Anonymous
I am a 36 year old, single with no plans to get married. I'm a non-smoker.
My current CPF ordinary account of about $93k with only $10k savings as of April 2022. My monthly basic salary is close to $4000. My monthly fixed+variable expenses are approximately $1,000. I save $1,000 - $1,800 per month in a UOB stash account that allows me to stash up monthly interest up to 1% p.a. (The savings is on a range depending on how much I need to spend that month, but it's definitely always minimum $1000)
Given the above writeup of my current financial status, I was hoping to see advice on the following questions.
Q1) Could I buy a resale 3-room HDB flat ($400-500k)?
Q2) If yes to Q1, what would be the ideal financing scheme you could advice me?
Q3) What are the risks involved if I undertake your advice?
My current CPF ordinary account of about $93k with only $10k savings as of April 2022. My monthly basic salary is close to $4000. My monthly fixed+variable expenses are approximately $1,000. I save $1,000 - $1,800 per month in a UOB stash account that allows me to stash up monthly interest up to 1% p.a. (The savings is on a range depending on how much I need to spend that month, but it's definitely always minimum $1000)
Given the above writeup of my current financial status, I was hoping to see advice on the following questions.
Q1) Could I buy a resale 3-room HDB flat ($400-500k)?
Q2) If yes to Q1, what would be the ideal financing scheme you could advice me?
Q3) What are the risks involved if I undertake your advice?
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