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@DonYang734 ай бұрын
One advice, beware of property agents who always talk about the maximu loan you can take.
@potion47653 ай бұрын
Don’t need to rush for a condo, can always be humble n start w hdb
@DonYang734 ай бұрын
With huge mortgage, the moment kena retrenched, good luck 😅. Be optimistic and realistic. Dont bite more than you can chew. Dont wear a hat too big for your head.
@TheFattywen4 ай бұрын
Well said
@ocswoodlands4 ай бұрын
Just signed S&P for another condo... annual mortgage commitment will be about 25% of annual pay.
@DonYang734 ай бұрын
Hope you dont get chopped😅
@whywhy42114 ай бұрын
Most upgraders r likely not doing that . The wants to upgrade plus “education” n “inspiration” from them (some agencies) and social media influence make them feel positive and Chiong 😅. Ppty is part of our long term financial commitment and should be into considerations of all family and cents down to every dollar.
@joshconsultancy4 ай бұрын
As in likely not following my recommended formula? Yes there are some that didnt follow and are tight financially hence it inspired me to think of a formula to suggest for all
@junjun9064 ай бұрын
home loan shld not be too be too big or too small. generally abt 30% of income will be good. ensuring you are exposed sufficiently to singapore residential market, but not taking too much short term risk. always rmb time in market is more impt than timing the market. this applies to residential property, or stocks. in general singapore property is AAA grade be it HDB, condo or landed. and long term 20 years appreciation is always healthy.
@joshconsultancy4 ай бұрын
POV noted. Ive a formulate coming up =)
@jackywong48064 ай бұрын
Generally, when a place attracts people, full of energy and vibe, property values will rise.
@johnng53154 ай бұрын
Thx for yr efforts, v informative
@joshconsultancy4 ай бұрын
No probs, hope it helps you in your decision making
@zhenxiong53894 ай бұрын
Thank you for the good video. Useful for many who wants to know how to be prudent with mortgage loan and not overstretch. Also shows your knowledge and experience to customise financial advice for different profiles of people. 👍
@joshconsultancy4 ай бұрын
Thank you for the high praise 🙏
@yungchingoh43254 ай бұрын
Most prices now hve exceeded 5x annaul income .
@joshconsultancy4 ай бұрын
Its not regarding home prices. Its regarding the income level to match that price tag and remain prudent
@thomashay794 ай бұрын
very good advice....alot of people are buying a ppty which is way more than the 5 or 6 X their annual salary...
@joshconsultancy4 ай бұрын
Thank you for the high praise 🙏
@DonYang734 ай бұрын
Agree with Josh here on the overall views. 👍 Its a balance view which proven and tested, works. One of your best videos.
@joshconsultancy4 ай бұрын
Thank you 🙏
@genelecspeaker4 ай бұрын
Very valid pt. I’m the group that u mentioned, 8k+ mortgage 30plus, still low level in organisation depending on bonus for majority of savings.. spending abt nearly 30% of annual income on it. The good thing is in the past 30-40yrs record, always got bonus. And honestly, I feel that once we past 25k/mth.. living cost isn’t big proportion as compare to 10-15k /mth Not the best position to be in, but definitely have to review and decide the next step again Gd content Josh, keep it ip
@genelecspeaker4 ай бұрын
And just to add on, I feel that this topic is largely about risk appetite too. When we study well/find gd paying job. Most of us can only afford 2-3.5mio houses.. there is a cap!!! Money can’t be generated by hardwork, business man are rewarded for the risk they take, while many business that go bankrupt also has hardworking bosses. I did my calculation before I commit the 30% mortgage. But ur video serve as a reminder for REVIEW of portfolio in future too..
@joshconsultancy4 ай бұрын
Thank you. Smash the subs and cya in a next video
@hamsinnashrudin3 ай бұрын
This is really helpful, thank you!
@joshconsultancy3 ай бұрын
👍 happy to hear that. Share with someone who should be more aware too
@Mike-e1n4 ай бұрын
I am very scared to have a mortgage loan..PEACE of mind to me is super number 1 important
@joshconsultancy4 ай бұрын
Mortgage is ok. Message of this sharing is making sure its affordable
@DonYang734 ай бұрын
Same as me. 😅I think the older you are the more you should be “afraid” of mortgage
@Mike-e1n4 ай бұрын
@@DonYang73 yes correct! I am indeed older now and I think mortgage loan around $200k-280k for a $1.4mil home is peaceful to me
@limkimyaw89804 ай бұрын
I currently own three properties with my wife, we are both in our late 40s. One property is value at 4.2m, the 2nd one value at 3.1m and the third one value at 1.6m, all three are fully paid. We also have cash holding in excess of 2.5m and equities..etc at around 3.7m. My wife would like to sell off the property value at 3.1m and upgrade it to a property that is around 4m upwards. I personally don't' think it is a good idea to do it as this will drastically reduce our cash holding by more than half. What do u think?
@207history20114 ай бұрын
lol.... time to slow down to enjoy life.... KPI stay healthy and reduce unnecessary headache!
@joshconsultancy4 ай бұрын
These are big investments, cant be answered without context unfortunately, agree?
@asisatan37314 ай бұрын
please talk about UOBAM Invest Cash+ Xtra & other banks products etc tks sir
@joshconsultancy4 ай бұрын
Noted
@Geejan1014 ай бұрын
Josh, Im your opinion with a high interest rate. Now, should i pay off my mortgage loan using CPF and cash? Initially, I want to keep my CPF for retirement
@joshconsultancy4 ай бұрын
If ur interest cost is more than 2.5% and you don’t want to park it into tbills, then clearing out the OA makes sense 👌🏻
@Geejan1014 ай бұрын
@joshconsultancy thanks for your prompt reply and advise
@ShahinAlam-x6mАй бұрын
I am form Bangladesh. Working in Singapore. My need bank lone $10,000 how to i can take please tal me
@billtay28394 ай бұрын
I am 60 years old and have a outstanding loan amount of $770k. Is it prudent to quickly pay down the loan?
@joshconsultancy4 ай бұрын
Hi, it depends on if its home stay or investment property. Sometimes other investment cashflows, paying down now may not matter too much too. If you're keen to get a case review, email to joshtantap@gmail.com with details and background. I may be able to build an episode on it k
@jackywong48064 ай бұрын
I am spending 52% of take home pay for house mortgage. I made this decision as I gave up my car. If combine household is 26% of income
@joshconsultancy4 ай бұрын
Should be from combine perspective
@jackywong48064 ай бұрын
@@joshconsultancyAlso no helper. Car monthly installment easily $2500 (everything in) and it’s an expense. Mortgage loan in my opinion is saving, with possibilities of capital appreciation. The interest is an expense. So decided to give up car and buy a condo
@joshconsultancy4 ай бұрын
@@jackywong4806I’ve described many case studies to show interest expense. A property can appreciate $400k but if interest cost is $250k along the years and stamp duties $50k, the remaining $100k may or may not be better than 2.5% oa interest actually
@Duangduangduang54 ай бұрын
@@joshconsultancyso if don't buy home. Where do they living? Or for investment flat, empty for years without rental?