% of gross salary into housing payments

[wt_know]

Re: % of gross salary into housing payments

+1000
my cousin live in sydney (not in CCR), 1 house (not flat hor, got backyard bbq) + 3 used cars - porky + bmw + japanese
and no loan for car ... ac323 says buy with cash

Depends on which country you talking about ......

 

[ktnpl]

Re: % of gross salary into housing payments

Say you start work at 25 and wish to retire at 55, then you may perhaps want to buy what you can pay off by age 40 so that you can concentrate on wealth accumulation in the second half of your career timeline

 

[wt_know]

Re: % of gross salary into housing payments

alamak ... tot govt says work until 75 or was it 85?
still got 20-30 more years to slog ... hehe
25/35 years old + 50 years loan = mortgage settled then hong kan liao

 

[wobbles]

Re: % of gross salary into housing payments

+1000
my cousin live in sydney (not in CCR), 1 house (not flat hor, got backyard bbq) + 3 used cars - porky + bmw + japanese
and no loan for car ... ac323 says buy with cash

My cousin lives in Malaysia, 1 house, need Nepalese Gurkha guards, German Shepherd dogs, barbed wire fence + 3 cars (because the cars keep getting getting their windows smashed or the whole thing gets stolen). Yeah, so depends on which country....

just kidding lah!

 

[davidtch]

Re: % of gross salary into housing payments

alamak ... tot govt says work until 75 or was it 85?
still got 20-30 more years to slog ... hehe
25/35 years old + 50 years loan = mortgage settled then hong kan liao

I don't mind working till 90 yrs old like our minister. as long as i m doing for the fun of it.

My cousin lives in Malaysia, 1 house, need Nepalese Gurkha guards, German Shepherd dogs, barbed wire fence + 3 cars (because the cars keep getting getting their windows smashed or the whole thing gets stolen). Yeah, so depends on which country....

just kidding lah!

Why not? Big big house in private estate with Gurkha Security + 3 cars (Kancil, Proton Saga & Toyota hilux):woottt:

 

[wt_know]

Re: % of gross salary into housing payments

work for fun of coz good la
work to pay off loan is different

I don't mind working till 90 yrs old like our minister. as long as i m doing for the fun of it.


Why not? Big big house in private estate with Gurkha Security + 3 cars (Kancil, Proton Saga & Toyota hilux):woottt:

 

[T6]

Re: % of gross salary into housing payments

Tough question as personal commitments vary eg income tax, car instalment, dependents etc. Just make sure you have a steady job and sufficient savings for 1 year of mortgage repayment if you are suddenly without income.

 

[Red_Bean_Bun]

Re: % of gross salary into housing payments

+1000
my cousin live in sydney (not in CCR), 1 house (not flat hor, got backyard bbq) + 3 used cars - porky + bmw + japanese
and no loan for car ... ac323 says buy with cash

My colleague got 6 horses and a donkey (not kidding). Not sure how he can mod that type of transport. Intake and exhaust quite different from car ......

 

[iScoupe]

Re: % of gross salary into housing payments

depend on the fluctuation of your gross income.

Market up , income drop, die. Market down, kenna retrench, die. Market unchanged , income remain, die with no money but at least got a house..

 

[Pilipala]

Re: % of gross salary into housing payments

Thinking of selling my current house and moving to a bigger house.

 

[Pilipala]

Re: % of gross salary into housing payments

Does the bank factor in the loan of the car too?

 

[animian]

Re: % of gross salary into housing payments

Does the bank factor in the loan of the car too?

yes they will

 

[Pilipala]

Re: % of gross salary into housing payments

Having a combined gross income of $13,800 and was thinking of selling my flat at $580,000 (current market price). Initial price of flat is $235,000 and i only have $100,000 left to pay off. Will just like to use the sale proceeds of the flat to pay for the landed (est. $1.6 million - freehold)

 

[animian]

Re: % of gross salary into housing payments

My colleague got 6 horses and a donkey (not kidding). Not sure how he can mod that type of transport. Intake and exhaust quite different from car ......

this is how you mod this kind of transport

 

[wt_know]

Re: % of gross salary into housing payments

$1.6M freehold - old property?

Having a combined gross income of $13,800 and was thinking of selling my flat at $580,000 (current market price). Initial price of flat is $235,000 and i only have $100,000 left to pay off. Will just like to use the sale proceeds of the flat to pay for the landed (est. $1.6 million - freehold)

 

[animian]

Re: % of gross salary into housing payments

Having a combined gross income of $13,800 and was thinking of selling my flat at $580,000 (current market price). Initial price of flat is $235,000 and i only have $100,000 left to pay off. Will just like to use the sale proceeds of the flat to pay for the landed (est. $1.6 million - freehold)

u are damn BRAVE to buy a landed property with combined income of 13.8K

btw where you find freehold at only 1.6m ... even a brand new leasehold condo (penthouse) in outskirt already cost this much leh

 

[wt_know]

Re: % of gross salary into housing payments

$580k - $100k (outstanding) + $120k (top up)= take $1,000,000 loan ....

u are damn BRAVE to buy a landed property with combined income of 13.8K

btw where you find freehold at only 1.6m ... even a brand new leasehold condo (penthouse) in outskirt already cost this much leh

 

[animian]

Re: % of gross salary into housing payments

$580k - $100k (outstanding) + $120k (top up)= take $1,000,000 loan ....

brave brave !!! slave to the landed property for the next ..... how many years

 

[Darth Vader]

Re: % of gross salary into housing payments

take 50 year loan from uob, landed property super save better than condo.no more land for landed housing estate.government increasing population to 8 million.confirm landed wont drop, cant say for hdb and condo.2nd property loan at 60% purchase price,banks dont care how much you earn also.if 3rd property better buy in USA.

 

[zag]

Re: % of gross salary into housing payments

should be able to get a 1.2 million loan and per month installment only about $4.2k at today int rate.. so why a problem with $14k income?
go for it.. 1.6 mill landed if u like it it's a steal.
but be aware of the pain living in landed.. parking, parking and parking issues in the estate.