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Can we live and educate on $152k

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Melbfamily
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Can we live and educate on $152k

Post by Melbfamily » Tue, 26 Mar 2013 2:11 am

Hi all,

I've been offered a job in singapore with a gross salary of 150k... Have two boys, one of which will need to go straight into school when we arrive (5yrs old) and another who will need schooling in 18mths. International Schools sound great but excessively expensive and it sounds difficult to get kids into local schools....actually, it's also very hard to tell whether lots of people are quite snobbish about intl versus local schools or not?

We would want a three bedroom condo need an mrt station and don't have expensive eating out tastes.....so, can we afford it?

M and T

offshoreoildude
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Post by offshoreoildude » Tue, 26 Mar 2013 6:19 am

Depending on the year of birth it's possible to get kids into local schools w.o too much difficulty, (dragon year kids are very busy years). I have a child in a local school but frankly I would not recommend them for Year 5 onwards.

There is snobbishness in the int'l school scene a bit but it's worse in the local 'elite' school scene!

$152,000 is a bit tight depending on where you want to live.
Now I'm called PNGMK

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zzm9980
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Post by zzm9980 » Tue, 26 Mar 2013 8:15 am

How close is near? 1km or less? Expect to at least $3500/month rent for that on a 3 bedroom condo. That will be one of the farther-flung MRTs, and 1km in the middle of the day in Singapore will feel like 3km.

International schools will cost almost that much per month for your first child. You get a discount for the second, but not sure how much. If you go with local schools, it might not be very conveniently located since you're a foreigner and will have almost no pick as to where you go. Taxis to/from every day will still be a fraction of what the International School will be though.

Most families your size report ~$1000/month grocery bills. I spend about half that with a wife and a 2yr old; the wife is quite good at shopping frugally, but still buys all organic everything for our daughter.

Note that the rental price above is 'pre-HDB anti-foreigner restrictions' that just recently went into effect. There is a post about it in the 'Latest News' forum. No one knows how it will affect the overall rental market, but I expect everything to go up by a fair chunk. Especially in the condo rental market at your budget.

FWIW, that piece of news has been the straw for me to start actively getting my exit plan together.

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Brah
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Post by Brah » Tue, 26 Mar 2013 9:49 pm

zzm9980 wrote: Note that the rental price above is 'pre-HDB anti-foreigner restrictions' that just recently went into effect. There is a post about it in the 'Latest News' forum. No one knows how it will affect the overall rental market, but I expect everything to go up by a fair chunk. Especially in the condo rental market at your budget.

FWIW, that piece of news has been the straw for me to start actively getting my exit plan together.
I hadn't read that particular thread but now I will.

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Wd40
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Post by Wd40 » Wed, 27 Mar 2013 12:02 am

zzm9980 wrote: How close is near? 1km or less? Expect to at least $3500/month rent for that on a 3 bedroom condo. That will be one of the farther-flung MRTs, and 1km in the middle of the day in Singapore will feel like 3km.

Note that the rental price above is 'pre-HDB anti-foreigner restrictions' that just recently went into effect. There is a post about it in the 'Latest News' forum. No one knows how it will affect the overall rental market, but I expect everything to go up by a fair chunk. Especially in the condo rental market at your budget.
While talking with my agent I brought up the new ruling of 10% foreigners in HDB flats and she had absolutely no idea what I was talking about and she is a real estate agent :roll:

Also, I think 3.5k for 3 bedroom condo is really tight no matter which area you are looking at. My benchmark is usually Melville park and I consider it to be the cheapest condo or one of the cheaper ones. The last I heard one of my colleagues rented a 2 bedder there for 3.2k :o

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zzm9980
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Post by zzm9980 » Wed, 27 Mar 2013 9:05 am

Wd40 wrote: Also, I think 3.5k for 3 bedroom condo is really tight no matter which area you are looking at. My benchmark is usually Melville park and I consider it to be the cheapest condo or one of the cheaper ones. The last I heard one of my colleagues rented a 2 bedder there for 3.2k :o
I looked at Melville and others, and Melville was one of the pricier 'cheap' condos. I imagine that is due to its popularity amongst Indian EP holders with decent salary or dual income.

You can get cheaper condos out in Pasir Ris, Yishun, Woodlands, CCK, etc.

therat
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Post by therat » Wed, 27 Mar 2013 9:38 am

Wd40 wrote: While talking with my agent I brought up the new ruling of 10% foreigners in HDB flats and she had absolutely no idea what I was talking about and she is a real estate agent :roll:
If I remember correctly 10% is still on discussion. Not firm yet. I also can't find any information in HDB web.

The latest new rule is reduce the 3 yrs max subletting period to 1.5yrs

http://www.hdb.gov.sg/fi10/fi10323p.nsf ... enDocument

Maximum Subletting Period


The maximum subletting period allowed is three years per application or as indicated in the approval letter, whichever is shorter. However, for subletting involving non-citizen subtenants (excluding Malaysians), the period of subletting per application is 1.5 years or as indicated in the approval letter, whichever is shorter. You are required to apply each time you sublet your flats or when you renew the subletting tenancy.

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Post by nutnut » Thu, 28 Mar 2013 9:19 am

I don't know about local school, could be your only option to be honest! International School will be $50K + a year when both are schooling ($25K a year + each)

There are some great new condos around "far flung" MRTs in Singapore some of note would be around Pungol and more specifically Simei has some great new ones at around $3.5 - 4K advertised.

Basically, $152K is possible, consider tax on that (IRAS have a calculator) and what other things you want, forget a car unless you want to lose $2K a month straight off the bat!
nutnut

movingtospore
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Post by movingtospore » Sat, 30 Mar 2013 5:48 pm

Unless things have changed in the last year it's NOT easy to get into local school as a recently-arrived foreigner. After trying 2 years in a row we gave up, which is probably for the best anyways. I've seen one or two people on this forum who did have luck though, I think Scoobydoes was one. Perhaps smarter, more strategic about it than we were (or a PR). Maybe they can help.

Tell your spouse to get a job. Helps with the schooling costs. :lol: Though that also is not necessarily all that easy these days.

For International Schools, also count on the fees going up every, single f-ing year.

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zzm9980
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Post by zzm9980 » Sun, 31 Mar 2013 9:30 am

movingtospore wrote:Unless things have changed in the last year it's NOT easy to get into local school as a recently-arrived foreigner.
Are you just flat out rejected, or only given openings in impossible locations? (Like Pasir Ris when you live in Jurong)

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