Hi,
I think your partner has a valid concern, but I would be careful about rushing into a property purchase simply because your current income allows you to borrow more.
There is a difference between how much the bank is willing to lend you and how much you can comfortably afford.
If you change industries next year, your income may remain stable, increase or even decrease temporarily while you establish yourself in the new role.
The question is whether you can continue servicing the housing loan comfortably if your income changes.
For example, if your combined household income drops by 20–30%, would you still be comfortable with the monthly mortgage repayments and other household expenses?
On the other hand, I would not automatically recommend postponing your purchase either.
If you have a genuine housing need, sufficient savings and a manageable mortgage commitment, purchasing before your career transition may still make sense.
What I would suggest is obtaining an In-Principle Approval from a bank to understand your current borrowing capacity, then working backwards to establish a comfortable budget based on a more conservative income scenario.
Remember, the maximum loan you qualify for does not have to be the amount you borrow.
May I know whether you are planning to purchase an HDB flat or private property, and whether this is your first home?
Also, how likely is your career change next year, and are you expecting a significant change in income?
Have you engaged a property agent to assist with your purchase? If so, has your agent helped you assess your affordability under different income scenarios rather than simply using your maximum loan eligibility?
An experienced agent should help you make a sustainable purchasing decision, not encourage you to maximise your borrowing simply because you qualify today.
I would be happy to help you work through the numbers and assess a realistic purchasing budget.
Geryl Lim
9278 7772
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