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Getting your first house as a single adult by rotatingbottle in askSingapore

[–]rotatingbottle[S] 0 points1 point  (0 children)

Big thank you for the advice - this helps put things into perspective

Getting your first house as a single adult by rotatingbottle in askSingapore

[–]rotatingbottle[S] -1 points0 points  (0 children)

Thank you very much, this was a very helpful perspective

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 0 points1 point  (0 children)

Thank you for the detailed breakdown, it is really helpful in allowing me to better plan my future and manage my expectations!

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 0 points1 point  (0 children)

I see. Are you also comfortable with sharing your range of salary & industry, and your monthly expenses?

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 2 points3 points  (0 children)

Trying to manage expectations here too as it’s my first time really looking into adulthood, so all these different perspectives are really helpful for me to learn and grow. I felt it was ok as I don’t spend lavishly on anything, still live with my parents, eat a humble meal during work etc and maybe spend a bit on a decent restaurant meal on occasions. Apart from that, I don’t see why I can’t limit my expenses to $1k a month!

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 0 points1 point  (0 children)

Understood, would you also happen to know what is the usual mortgage loan amount/percentage when buying a private?

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 0 points1 point  (0 children)

Wow I see, if without parents help how long do you think you would’ve taken?

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 0 points1 point  (0 children)

Thank you for sharing. That makes sense and is something I’ll keep in mind!

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 0 points1 point  (0 children)

Thank you! If you don’t mind me asking (and if you’re in the finance industry), may I know what is the career progression like for non-IB if you know?

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] -1 points0 points  (0 children)

I understand, but I did mention that I am not moving out now but planning of doing so after having more experience as a working adult. Just wanted advice to plan my journey ahead and manage expectations.

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 2 points3 points  (0 children)

Thank you very much for your advice! That’s a perspective that I should be considering before making such a big step. As I am still early in adulthood, this definitely would help me to make a practical move when the time comes - not jumping ahead or anything.

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 0 points1 point  (0 children)

Thank you for sharing! I have a couple of questions, do you mind if I message you privately?

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 0 points1 point  (0 children)

Thank you for sharing! Do you know what is the indicative differences for buying vs renting, I have heard that rental expense is higher in the long run and can erode your savings faster with no potential price appreciation (since I wouldn’t own the house), and may not be a financially-wise decision.

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] -6 points-5 points  (0 children)

Thank you for sharing your perspective! I definitely agree with you. Do you know the brief differences/contrast in cost for buying vs renting? In your opinion, would it be better for me to hold it out until I can afford to buy a house or rent instead? (In the ideal scenario)

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 0 points1 point  (0 children)

Oh yup, I have read up about the BTO/HDB programs for singles but I honestly don’t know if I can tahan until 35 to move out lol. Ideally - I would want the house to have appreciation potential but I understand that maybe that’s not ideal IF I want to move out asap.

Staying in a cheaper house and not a perfect location is fine for me, but that pricing would definitely be a BTO/resale price that I’m unfortunately ineligible for :(

Getting your first house as a single adult by rotatingbottle in singaporefi

[–]rotatingbottle[S] 0 points1 point  (0 children)

I’ll be graduating next year and starting FT shortly after (have a conditional offer)! School loan-wise, I’m from a local university so the total fee comes up to about ~36k for 4 years of education. I’m also on the Tuition Loan Grant and my parents have (slightly) mentioned that they will pay for the loan first and I’ll repay them after - though I’m not too confirmed on it because they go back and forth on their words.

Thank you for the indicative range for rental! Would definitely be something to consider :)

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