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I am earning 2.9K per month and my Wife earning 1.8 per month. With 50k cash in hand, is it possible to buy an EC? Keeping in mind I have been employed with cpf contribution untouched for 8 years and my Wife for 5 years.
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4 Answers

Hi,

It depends on how much CPF OA you have, and most likely we are looking at a 2 bedroom EC. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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SMU BBM (Finance), Magna Cum Laude

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Robbie Chen Chee Howe
Hi,

It is possible, but we have to also take into account your existing CPF funds and also both your ages, which will determine how much you can loan.

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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Dear Sir,

You should be able to afford a 2 bedroom EC unit quite comfortably with your financial status. There are currently quite a few EC projects available in the market currently so getting the right one is utmost important as it will determine the upside potential a few years down the road.

I have assisted many of my clients to purchase an EC unit. Please feel free to contact me so that I can share with you my views on the different developments!

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

Testimonial from Satisfied Clients (2016)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
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The critical considerations in most purchase is most often not the downpayment but the servicing of the loan.

We need to understand that as we commit to a purchase on a long term, we need to factor in other aspects because as a family, we could be planning for children, the children will grow up and these involves financial commitments too. With rising cost of living, household income of $4.7k, how much are you comfortable to set aside for financing the property, if CPF contributions is insufficient to cover the monthly financing? How will such commitment affect your lifestyle and family?

It does not hurt to work out these financing issues together with a qualified banker and explore a few projects before making a decision.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
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