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Anyone bought their own house in their 30's? Share your story!


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Guest Ben

I'm 35 now and still living from paycheck to paycheck. How did you do it getting property at ypung age.

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I got my 2 room hdb bto in my 40s. It took 4 years after application to collect the keys. It’s going to MOP next year which means I can sell it. Looking at 50k-100k profit. But that’s not the point. 
 

i never had a stable job nor stable income since I was 30. But I realized that one must have a skill that is in demand so u can make a decent living.

 

It also helps to live simply. 
 

Take advantage of government schemes wherever possible. Such as the singles scheme for BTO. 
 

 

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On 7/27/2022 at 11:26 PM, Guest Ben said:

I'm 35 now and still living from paycheck to paycheck. How did you do it getting property at ypung age.

Boomers had better luck when they purchased their HDB in the 1990s to the early 2000s. The price range for 3 to 5 rooms back then was between 110K and 350K. Depending on mature estates, it now ranges from 400K to 800K.  That's why. 

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On 7/28/2022 at 5:53 PM, Why? said:

Boomers had better luck when they purchased their HDB in the 1990s to the early 2000s. The price range for 3 to 5 rooms back then was between 110K and 350K. Depending on mature estates, it now ranges from 400K to 800K.  That's why. 

Their salaries were lower too

 

In 1996, a fresh engineering graduate was paid S$2.6k.

 

certainly the housing prices have gone  more than triple  since then while salaries is about doubled.

Edited by Malabird
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Guest Think
On 7/28/2022 at 5:53 PM, Why? said:

Boomers had better luck when they purchased their HDB in the 1990s to the early 2000s. The price range for 3 to 5 rooms back then was between 110K and 350K. Depending on mature estates, it now ranges from 400K to 800K.  That's why. 


🤦‍♂️ 

 

what were salaries like 30 over years ago? 

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Guest Guest

It's not about luck. It's about determination. How badly do you want to live independently? If you were to adopt a Happy-Go-Lucky and Everyday-Must-Enjoy attitude in life, then nothing will happen for the rest of your life but to continue staying shamefully in your parent's place. It is not a crime but deep down in your heart you know it is embarrassing still living with aged parents at your ripe old age. I always wonder who is taking care of who in this living arrangement but I see it as the parents are cursed with a useless, good for nothing, imbecile, directionless and hopeless member of society. Note that if you are still single at 40s, likely your friends and relatives will have suspicion on your sexual orientation. And if you are still living with parents just like the day you were born, you will be look down upon. Double whammy. 

 

Many of such individual are socialising in saunas and clubs this very moment.............without a care.

 

 

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Salary is unable to catch up with the price of the price of property. 

鍾意就好,理佢男定女

 

never argue with the guests. let them bark all they want.

 

结缘不结

不解缘

 

After I have said what I wanna say, I don't care what you say.

 

看穿不说穿

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On 7/28/2022 at 5:53 PM, Why? said:

Boomers had better luck when they purchased their HDB in the 1990s to the early 2000s. The price range for 3 to 5 rooms back then was between 110K and 350K. Depending on mature estates, it now ranges from 400K to 800K.  That's why. 

Remember that singles were limited to 3-room resale flats earlier on, so most would not have bought any 4- or 5-room flats, unless buying with their parents or siblings.

Слава Україні!

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Guest Thru the roof
On 7/28/2022 at 6:42 PM, Guest Think said:


🤦‍♂️

 

what were salaries like 30 over years ago? 

Every year salary increased by $50 to $100 (performance based).  HDB price increased approx $30K to $50K yearly.  Do your math.

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On 7/28/2022 at 9:29 PM, Guest Thru the roof said:

Every year salary increased by $50 to $100 (performance based).  HDB price increased approx $30K to $50K yearly.  Do your math.

Do realise that educational levels have improved for the majority of the population, and there are many more high-paying jobs in Singapore now than back then.

 

Also, this kind of inflation of property prices is found in almost any major metropolitan city in the world. Take New York City, New York, San Francisco, Sydney, etc.

 

I have always maintained that the biggest problem with public housing in Singapore, was that the government allowed for the selling of HDB apartments on the open market. Together with allowing for the use of CPF savings to pay for the mortgages, it created the problem of runaway prices.

 

The government has to keep HDB prices going up at least as quickly as their CPF interest rates, else using your CPF to pay for your flat will be committing financial suicide. Given that, everyone expects prices to go up perennially, giving rise to increased speculation on the open property market.

Слава Україні!

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Guest Thru the roof
On 7/28/2022 at 9:46 PM, sgmaven said:

Do realise that educational levels have improved for the majority of the population, and there are many more high-paying jobs in Singapore now than back then.

 

With influx of Cheap foreign labours,  salary will go in the opposite direction of inflations.  It is all calculated by bad policies.  Do your math.

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On 7/28/2022 at 9:49 PM, Guest Thru the roof said:

With influx of Cheap foreign labours,  salary will go in the opposite direction of inflations.  It is all calculated by bad policies.  Do your math.

If you have been looking at government rules for the application for foreign work passes, you will see that the minimum salary has been progressively rising. This in turn causes a rise in local wages too.

Слава Україні!

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Guest Silent Rule
On 7/28/2022 at 9:52 PM, sgmaven said:

If you have been looking at government rules for the application for foreign work passes, you will see that the minimum salary has been progressively rising. This in turn causes a rise in local wages too.

It is true in theory and on paper.  In reality, if you are aware of the silent game that dishonest bosses play, you can expect your boss to claw back the minimal wage paid without being  detected.

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I bought my own house at 34 y.o.    As a result, some women started thinking:  " wow,  this handsome single man bought a house,  he must be getting ready to marry ".   And one of the girls who thought this way became my wife.  And as a result of this  I got a son.  This is the reason I now have three precious grandchildren who make me very proud, ha ha.

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Guest 8787R
On 7/28/2022 at 10:30 PM, Steve5380 said:

This is the reason I now have three precious grandchildren who make me very proud, ha ha.

Tbh I'm not sure if they're proud of you tho, "my grandfather is gay and likes to go to Asia for sex tourism"

 

But I digress ..

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On 7/28/2022 at 10:11 PM, Guest Silent Rule said:

It is true in theory and on paper.  In reality, if you are aware of the silent game that dishonest bosses play, you can expect your boss to claw back the minimal wage paid without being  detected.

No one forces you to work for a boss who treats you unfairly. If you think your boss is dishonest with your remuneration, then look for another job!

Слава Україні!

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On 7/28/2022 at 10:51 AM, Guest 8787R said:

Tbh I'm not sure if they're proud of you tho, "my grandfather is gay and likes to go to Asia for sex tourism"

 

But I digress ..

 

My grandchildren are too young to know what is sex tourism,  and I don't know how much my son and family know about my sexual orientation.  In any case, they never said one word about it,  and even if they know, they are sufficiently educated to not find anything wrong with it.

 

Would you condemn a good father just because he is gay?

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Guest Guest
On 7/28/2022 at 12:45 PM, Startup said:

I got my 2 room hdb bto in my 40s. It took 4 years after application to collect the keys. It’s going to MOP next year which means I can sell it. Looking at 50k-100k profit. But that’s not the point. 
 

i never had a stable job nor stable income since I was 30. But I realized that one must have a skill that is in demand so u can make a decent living.

 

It also helps to live simply. 
 

Take advantage of government schemes wherever possible. Such as the singles scheme for BTO. 
 

 

If you sell, even though you would get profited, but where you going to stay?

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On 7/31/2022 at 1:23 PM, Guest Guest said:

If you sell, even though you would get profited, but where you going to stay?


thanks for asking. I never stayed in that flat except for a year. I don’t think I will ever want to stay there anymore. I have other housing options.

 

https://www.propertyguru.com.sg/hdb-2-room-flat-for-sale

 

Currently the market rate for 2 room hdb is around 300k.

 

My flat is not renovated. Does it mean I have to price it lower? MOP in 2023.

Edited by Startup
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Guest guest
On 7/31/2022 at 2:28 PM, Startup said:


thanks for asking. I never stayed in that flat except for a year. I don’t think I will ever want to stay there anymore. I have other housing options.

 

https://www.propertyguru.com.sg/hdb-2-room-flat-for-sale

 

Currently the market rate for 2 room hdb is around 300k.

 

My flat is not renovated. Does it mean I have to price it lower? MOP in 2023.

2 room flat can sell $300k plus even in punggol and sengkang location? No wonder many people say must buy first hand BTO flat and then sell it off after MOP, can profit a lot. No point buying resale flat cause might not profit much. I think 2 room flat in punggol and sengkang when bought as new BTO, price should not exceeded $180k?

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On 7/28/2022 at 9:20 PM, sgmaven said:

Remember that singles were limited to 3-room resale flats earlier on, so most would not have bought any 4- or 5-room flats, unless buying with their parents or siblings.

I was about to get a 3-room unit, when I heard of the change in regulations to allow larger units, so I stopped my agent and we went hunting for a 5-room unit!

 

I was glad that my dad introduced me to getting an endowment insurance plan at age 21, that matured in 15 years, when I turned 36yrs. So I had a good payout of almost 250k at maturity. And used that and some savings to paydown much of the purchase price, and just took a small hdb loan for the mortgage balance. 

As the unit was in poor condition,  I did a major renovation at 160k since I plan to stay and enjoy the home and not sell it.

I guess when I get older at 75yrs, I'll do a leaseback to monetize the property and employ a full time caregiver till I pass on. 👍 😎 Cheers 🥂 

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