MARRIED COUPLE WITH $45K SALARY: “MY FRIEND GOT CONDO, I ONLY GOT HUMBLE HDB”
Frustration of a middle class whom failed to plan.
I am currently in late 30s, and currently married with 1 kid. I am earning 30k a month, and my wife is around 15k a month.
We are staying in a humble resale HDB flat in Punggol, with no maid. We basically save more then we spent, but I just cant help thinking why I am not rich at all.
Recently I met a friend that bought a BTO, and sold it for around 200 plus k profit, and bought an EC in the time being.
now he and his wife each own a condo, where as I am still staying in a HDB.
I failed to plan, and I decided to start spending effort, but met with tons of hurdles
1) EC got income ceiling, that i dont understand why? HDB yes is provide shelter for all of us, but EC with subsidies? the other plus point is that you can but the EC when launched without incurring ABSD.
2) I am so dumb not to just use 1 owner, and 1 essential occupier for the HDB, now i cant use just 1 person name to buy a condo to avoid ABSD.
3) It is so troublesome, to have to sell my hdb first then to buy the condo, if not the 17% ABSD will take a serious toll of my saving. Let said a district 9-10 condo at 3m, the ABSD will already be $510k!
Just to rant, as the journey of investment is best to start with a BTO. Also hope that middle class like us are allowed to buy an EC. There should be no restriction on income.
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TynDevan T 04/04/2024
45k salary... Total with such a high income ceiling... How are you able to buy a HDB flat? If u said u had it before u earn 30k.. How did u even jump to 30k in the first place? Hmm.. Business owner? There isnt much job that pays 30k a month.. Unless you are either a boss of a company, specialist doctor? And how is earning 30k a month.. Considered middle class? Is this a fake story?
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