How Much Do You Need To Earn To Afford A Condo In Singapore?
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0:00 - Intro
0:39 - Costs of owning a condo
2:44 - Financing your condo
7:48 - Monthly payment
9:09 - My thoughts
*Promotions T&Cs apply. All views expressed in the video are the independent opinions of Kelvin Learns Investing. Neither Moomoo Singapore or its affiliates shall be liable for the content of the information provided. This advertisement has not been reviewed by the Monetary Authority of Singapore.*
@KelvinLearnsInvesting 7 ай бұрын
Sponsor Moomoo SG (free stock) kvli.link/moomoo Moomoo AU promotion: Earn up to $3300 cash interest , Moomoo is now offering 180 days 6.8% p.a. fix rate for up to 100,000 AUD or equivalent uninvested cash, and register to get 1 free AMC share for new users. Check the link to sign up or check their detailed T&Cs. kvli.link/moomooau Moomoo SG promotion is applicable to residents in Singapore. Moomoo AU promotion is applicable to residents in Australia.
@javienseah7178 6 ай бұрын
Some correction: A first-time homebuyer can borrow up to 75% LTV from banks, however, this can be lowered to 55% if the tenure is more than 30 years or the loan period exceeds past the borrower's age of 65. Meaning if you go beyond 30 years loan tenure, your LTV will drop to 55%
@chuachua-hj9zd 6 ай бұрын
Good correction. Good to know
@jamesteh 6 ай бұрын
Stamp duty shouldn't be summed up as part of LTV calculation as it has to be paid upfront and not part of loan.
@nicholaschua7269 6 ай бұрын
Haha I’m signing up moomoo and funding next week. But the requirements to do 8 trades by 4 Jan is kanna tight Wondering if they have Jan feb promotion
@zleejunz 6 ай бұрын
For 2.1m, other than 25% downpayment, need to include buyer stamp duty as well, 74,600.
@desaturated6049 6 ай бұрын
he included already. 2mil + stamp duty. he rounded off to 2.1mil
@tanhakkoon 6 ай бұрын
To the leader, as long as people is still buying then is not expensive. Should ask how can we afford it....(like rich and poor dad book).
@husnyjeffrey 6 ай бұрын
I am not sure how the LL covers their mortgage from the rental. Based on this calculation, the unit has to be rented above 7K per month, which is really unlikely.
@fool1124 6 ай бұрын
you understand that rental income is taxable and property tax is calculated based on annual value which is up to 36%.
@TheManabopo 6 ай бұрын
If I tell you. You give me $2000. Every month I give you $5000. You want? Same as rental. LL use the rental to build up equity, then cash out when selling. Most investors are going for capital gains and not rental income.
@chinchowpowpook 6 ай бұрын
Rental 7k , 3k interest..left 4K,,one year 48k, minus tax n blah blah..say 40k..rent out 10 years..400k..assuming Singapore very very suay economy worst ,,selling at same price u bought after 10 years ..u still gained 400k in 10 years! Guaranteed! Excluding inflation.. if there capital appreciation which 99.9% will,,400k + capital gain..do the math lah..
@WetPokey 6 ай бұрын
The monthly condo fees we pay is ridiculously high - $470 a month. This is excluding luxurious amentities like swimming pool, gym, elevator mainteance etc. Although it does cover parking garage, roof maintenance, insurance, grass cutting. I was told insurance has increased signficantly hence the condo had to pass those cost to the unit holders.
@coolocean11 6 ай бұрын
For sure expenses will keep increasing n at a faster pace then an average person income. Pple tends to over commit by assuming fees and expenses are same frm day one or manageable. Hence nowadays y do u see some well to do do side lines? Don't chase the rat blindly or b a slave for the life style u can't afford comfortablely.
@chinchowpowpook 6 ай бұрын
Hdb, carpark 120+, town council $120+/-.. no pool no tennis court no lounge area no bbq no guard no gym no function hall
@phph2812 6 ай бұрын
Sengkang not rcr le. N stil go5 3 bedder below 1m at Ocr meh
@chinchowpowpook 6 ай бұрын
Sengkang rcr? Then Johor ocr
@laichongchao8266 6 ай бұрын
I believe whatever listed price for properties does not usually equate to the eventual transaction price, and the eventual transaction price I believe could be as low as 85% of the listed price, so for your 2.07 mil dollar example will need to x 0.85.
@visavis6655 6 ай бұрын
Siao
@evie833 6 ай бұрын
agree that transacted prices is not listed or asking price of prop and usually lower
@CL-it3zy 6 ай бұрын
Yes that is true..seller always tend to list it higher than the intended price they want to sell lol. Isn't this an age old sales tactic?
@chuachua-hj9zd 6 ай бұрын
Why is it so?
@Mlclmtan97 6 ай бұрын
Thanks to this video, now i know i can’t afford a condo even with 100k pa 😂
@jeremycheong8036 5 ай бұрын
When we see those kinds of numbers, it's more likely that the market is in a bubble.
@babibrain 6 ай бұрын
Never. If you have HDB you are good enough
@bigno1900 6 ай бұрын
Pick condo itself is an art, not all condo will be profitable. Those with a managed shopping mall and relatively big and mrt and bus interchange intergrated will be the best. No money best is still stay in HDB at Yishun and Boon Lay where HDB flat is cheapest.
@sepa3740 6 ай бұрын
True lah you speak like the enlightened
@Longtermalwayswins 6 ай бұрын
Integrated ones dont all make money. If u get one that has bad tennat management it will lose money too
@chinchowpowpook 6 ай бұрын
Loser theory..u not yishuner right? Any Pty can make if u enter right price..
@lancecheah673 6 ай бұрын
You left out property tax... another hidden monster.
@chrisang2405 6 ай бұрын
?? Property tax for owner occupied 3bdrm RCR is $800/yr…
@alui5362 6 ай бұрын
kelvin bro - tell ur editor cannot be careless - 3:29 typo gao gao
@KelvinLearnsInvesting 6 ай бұрын
Ahhh
@phph2812 6 ай бұрын
Too much mistakes n misguided info here
@soonzai_88 6 ай бұрын
2:12 Sengkang is OCR
@bkoh1771 6 ай бұрын
Yeah and his 3bdrm example is incorrect. He is showing 4bdrm at $2m. 3bdrm in that condo is only transacting at $1.3-1.5m.
@KelvinLearnsInvesting 6 ай бұрын
Thanks for the correction!
@coolocean11 6 ай бұрын
Too many sgreans living the condo dream and to flip after a few years. There will b a time in near future condo is norm and nobody want to pay those prices to stay in the tiny living space. Life is unpredictable, u may or may not enjoy the fruits in tis lifetime. Gd luck to them😅
@chinchowpowpook 6 ай бұрын
Great luck to u if u got nothing at all
@Melvynkohkoh 6 ай бұрын
Correction: Sengkang is located in OCR not RCR @2:10
@KelvinLearnsInvesting 6 ай бұрын
Ah, thanks for the correction!
@chairforce1780 6 ай бұрын
Yr voice over LOL
@dysfunctionalisme 6 ай бұрын
Eat grass also cannot afford
@chinchowpowpook 6 ай бұрын
U so jialat..go JB
@carnesir 6 ай бұрын
First!