Old question - looking for new data

MrBear · Post by **MrBear** » Mon, 29 Sep 2008 10:14 pm

Hi All,

Must be one of the most asked questions on here, I have looked and looked and I think i have most details but there is one part i need help on.

I'm in talks with company over $$'s and I'm trying to work out my cost of living etc. I'm looking to stay in East Cost, close to Ubi where office is. company will give me a 5 year deal to buy car and house. Am I correct that I can't buy or rent a HBD cos i earn over the aloud limit of 8k per month?

Anyway these are what i think my cost are any input would be nice.

Food 500 (for two, Asian wife so local shopping all the way)
Cable/internet 75
Phone 200
Utils 200
taxi/MRT 200 (for wife and me when not driving)
Car tax 100 (Small car under 1.6)
Petrol 100
ERP 80
Car Loan 1050 (5year loan for 65k)
rent 3250 (bayshore or like)

Please let me know if you think I'm off with any of those or need to add anything.

Now of to the real tough part, Thinking this might be the place I would like to start our family what kind of cost am I going to have to look for there. I don't want to send child to Int school. I plan to stay in SG for a while and would like to have child in local school if possible?

Thanks all.

Saint · Post by **Saint** » Tue, 30 Sep 2008 8:30 am

MrBear wrote: Am I correct that I can't buy or rent a HBD cos i earn over the aloud limit of 8k per month?

Unless either your wife or you are Singapore Citizens or PR you wont be able to buy a HDB. If one of you are, the 8k per limit is for brand new HDBs, you can still buy resale HBDs if family income is greater than 8K. I believe this is right?

You might want to add in the odd night out on the beer to your budget

cavalier · Post by **cavalier** » Tue, 30 Sep 2008 12:50 pm

Saint wrote:Unless either your wife or you are Singapore Citizens or PR you wont be able to buy a HDB. If one of you are, the 8k per limit is for brand new HDBs, you can still buy resale HBDs if family income is greater than 8K. I believe this is right?

To buy direct both of you have to be either a citizen or PR. To buy on the resale market, both of you have to be citizens or PRs or one of you has to be a citizen and the other on a social visit pass. There are also some age requirements.

MrBear · Post by **MrBear** » Tue, 30 Sep 2008 2:20 pm

Saint wrote:
You might want to add in the odd night out on the beer to your budget

All thats left was for the 'other stuff" nights out, bowling, shooting,nights out, tweaking car, nights out, etc...

Post by **sundaymorningstaple** » Wed, 01 Oct 2008 2:22 pm

You forgot the 2nd biggest item in your budget and also it's the 2nd one that should be paid every month. That's the amount budgeted for savings. Never save what's "left over" as there will never be any left over. You make payment to your savings the same time you make payment to your mortgage or rental payment. Then work around the rest.

sms

MrBear · Post by **MrBear** » Wed, 01 Oct 2008 3:05 pm

sundaymorningstaple wrote:You forgot the 2nd biggest item in your budget and also it's the 2nd one that should be paid every month. That's the amount budgeted for savings. Never save what's "left over" as there will never be any left over. You make payment to your savings the same time you make payment to your mortgage or rental payment. Then work around the rest.

sms

Thanks for that but I have set an amount over for savings which I chose not to disclose. This was mainly for my outgoings so i can get a handle on the total type cost.

I'm still looking for someone with experience of having a baby in SG and what kind of cost I'm going to have to save for.

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