surprisedI definitely cannot afford an apartment, but took some time to compile the various interest rates that the local banks and finance companies are offering at this current moment. With different schemes and benefits such as fire insurance and nil penalties to early repayment, it is not easy to find the optimim loan package.
And the amount of interest that one pays to the bank for a S$600+K property over a 20-30 year period works out to be S$150,000 to S$220,000! That's a lot of money! That's many months and years of salary.
Food for thought.
VITAMIN M !! VITAMIN M!
*tries to look humble*
For interested parties, a self-addressed email with a suitable photo and annual income would suffice.
why not consider getting a resale HDB ... so much cheaper ...
(*not thirty-five yet)
But then, if you take the interest amount of S$220,000 ... divided by 30 yrs ... divided by 365 days per year ... it works out to about $20 per day (or about a taxi fare to and from work, for example). Erm, not bad what for the freedom and independence you get. Plus your significant other can bunk over anytime! Heheh! ;)
0:)