Thursday, March 9, 2017

On the way to getting my first property

Hi Everyone!

It's been a while since I have update my blog due to my busy schedule, I did not have time to post any update on my side. Despite my busy schedule, I still make an effort in working towards my goal in getting my first property. I am nearly there as you can see my target bar on the right side of this blog, I manage to hit 91% of my target.

This is definitely a good news for me because 9 more percent before I hit my target of 160k and with this amount I hope I can get a decent two bedroom condo for my family. So with 160k, what is the price I am looking at? I believe some of you might be looking at purchasing your property, so we shall do a simple math.

For a first time purchaser of property, you will need to take into consideration of these cost other than the purchasing price of the unit. You will need to take into consideration of stamp duty, legal fee, commission and etc. (there might be some other fees that you might need to take into consideration).

So for me, as I need to take a rough estimation, for my formula, I took the easy way of calculating 23% of the sales price of the unit. So if I am looking at a unit which cost 700K, 23% of 700K will be around 161K.

Of course, when purchasing a property, you also need to take into consideration of the loans that you can get from the bank or HDB loan if you are purchasing HDB.

For a condo, the size that I am looking for is a 2 bedroom condo, hoping to get a size of 650 square feet so the price per square feet should be around $1050. Certainly, if the PSF is lower, it would be great to purchase 2 bedroom + study (ideal choice for me). Of course, the public transportation should be good as well so that it is accessible for my family.

So with this, I am working towards my goal of achieving my financial goal, and of course do take note that I will not be in 0 dollar after my down payment of my unit. Because you will need to take note of the payment schedule (5% right after you confirm and within 2 months to pay the remaining 15%). So do plan well if you intent to purchase your first property.


2 comments:

  1. We offer personal loans Business loans for debt consolidation, bad credit loans, unsecured loans, bad credit loans and instant secured loans with cheap rates Do you have a firm or company that need a loan to start up a business or need, personal loan, Debt consolidation? We will provide you with a loan to meet your needs.Note: We offer the following loans to individuals- * Commercial Loans. * Personal Loans. * Business Loans. * Investment Loans. * Development Loans. * Acquisition Loans. * Construction Loans. * Business Loans And many More: 100% safe with us We Offer all types of Finance loans for immediate respond application and many more at 2% interest rate. For more information contact us. Email: email: abdullahibrahimlender@gmail.com whatspp Number + 918929490461Mr Abdullah Ibrahim

    ReplyDelete
  2. Manipur Board Textbooks: Board of Secondary Education Manipur prescribes the textbooks for primary, secondary,senior secondary classes. Aspirants can employ the Manipur Board Books for Classes 1 to 12 to ace up your coaching. Manipur 1st Class Revised Syllabus Refer to the Manipur Board Books Classwise for all of the topics very well and grasp the principles blanketed.Schools affiliated to the Manipur Board can observe the textbooks for 1st to twelth Standard winning right here.

    ReplyDelete