Wednesday, September 29, 2010

Choosing the right mortage

Read these tips.

Advice given in my book on Financial Planning

  • Property should be within 5 years of family income (less cost of employing a maid)
  • Repay the loan within 25 years
  • Monthly repayment (including withdrawal from CPF) to be less than 25% of family income 
My advice is - buy a lower price property that you can service comfortably. It can be smaller or outside of the prime areas. If not, rent a property.

No comments:

Blog Archive