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One advice, beware of property agents who always talk about the maximu loan you can take.

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.

@TheFattywen

3 ай бұрын

Well said

Don’t need to rush for a condo, can always be humble n start w hdb

Thx for yr efforts, v informative

@joshconsultancy

2 ай бұрын

No probs, hope it helps you in your decision making

This is really helpful, thank you!

@joshconsultancy

2 ай бұрын

👍 happy to hear that. Share with someone who should be more aware too

Agree with Josh here on the overall views. 👍 Its a balance view which proven and tested, works. One of your best videos.

@joshconsultancy

3 ай бұрын

Thank you 🙏

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. 👍

@joshconsultancy

3 ай бұрын

Thank you for the high praise 🙏

Just signed S&P for another condo... annual mortgage commitment will be about 25% of annual pay.

@DonYang73

3 ай бұрын

Hope you dont get chopped😅

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.

@joshconsultancy

3 ай бұрын

POV noted. Ive a formulate coming up =)

@jackywong4806

3 ай бұрын

Generally, when a place attracts people, full of energy and vibe, property values will rise.

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.

@joshconsultancy

3 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

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

@genelecspeaker

3 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..

@joshconsultancy

3 ай бұрын

Thank you. Smash the subs and cya in a next video

very good advice....alot of people are buying a ppty which is way more than the 5 or 6 X their annual salary...

@joshconsultancy

2 ай бұрын

Thank you for the high praise 🙏

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

@joshconsultancy

3 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 👌🏻

@Geejan101

3 ай бұрын

@joshconsultancy thanks for your prompt reply and advise

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?

@207history2011

3 ай бұрын

lol.... time to slow down to enjoy life.... KPI stay healthy and reduce unnecessary headache!

@joshconsultancy

3 ай бұрын

These are big investments, cant be answered without context unfortunately, agree?

please talk about UOBAM Invest Cash+ Xtra & other banks products etc tks sir

@joshconsultancy

3 ай бұрын

Noted

Most prices now hve exceeded 5x annaul income .

@joshconsultancy

3 ай бұрын

Its not regarding home prices. Its regarding the income level to match that price tag and remain prudent

I am very scared to have a mortgage loan..PEACE of mind to me is super number 1 important

@joshconsultancy

3 ай бұрын

Mortgage is ok. Message of this sharing is making sure its affordable

@DonYang73

3 ай бұрын

Same as me. 😅I think the older you are the more you should be “afraid” of mortgage

@Mike-e1n

3 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

I am 60 years old and have a outstanding loan amount of $770k. Is it prudent to quickly pay down the loan?

@joshconsultancy

3 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

I am form Bangladesh. Working in Singapore. My need bank lone $10,000 how to i can take please tal me

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

@joshconsultancy

3 ай бұрын

Should be from combine perspective

@jackywong4806

3 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

@joshconsultancy

3 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

@deni0709ify

2 ай бұрын

​@@joshconsultancyso if don't buy home. Where do they living? Or for investment flat, empty for years without rental?