Have you heard before that buy house in Singapore is “An Escalator To Wealth“?
Buying a home may be the biggest purchase you ever make, and you want to be sure the one you choose is one you can afford.
First and foremost, having a down payment of at least 20%.. Do not that more does not actually equal to good decision depending how much leverage we are able to get out from and if there are any other alternate investments you are currently achieving too. Ideally, you’ll want to put 30% down.
As for monthly payments, a good rule of thumb is that most people can afford to spend 29% of their gross income on housing expenses — as much as 41% if they have no debt.
You’ll want to take into account more than just the sticker price. Home-ownership costs include mortgage interest, taxes, insurance, maintenance, and any renovations you might want to make.
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