1. I guess it's possible. There's always a shortage of accounting staff here. But I'm guessing the pay won't be fantastic.

2. I'm not sure what's the work hours are for smaller firms. But for the large firms esp Big4, don't expect to leave office before 9-10pm on most days when you have a job on hand. And it's not like you can then come in late the next morning. Midnight and weekends are commonplace too. It would really, REALLY suck to live in JB under these conditions.

I think around 2K should be okay. The Deloittes auditors stationed in my company are getting 2.6-2.8K fresh. But seriously, I'm just pulling the assumption about small firms out of thin air. I have absolutely no experience or dealings with them.

Problem is that public transport don't run 24 hours. I think the causeway bus service ends before midnight.

If it's anything like the Big4, the working hours will not be uniform each and every day. Some days, you might need to leave the client's office at Shenton Way (down south) after 10pm. In that case, there's practically no chance for you to take public transport across the entire island to Woodlands etc and still be in time to take a bus across the causeway. If that happens, what are you going to do? Bunk for the night with a colleague? You're basically up shit creek without a paddle.

If you're taking public transport - living in JB and working in SG only works if you have very steady work hours and locations ie. you know exactly what time you need to be exactly where.

The other option... get a motorcycle and bike in every day. Then you have all the flexibility you need, except when it rains. Clients don't appreciate wet auditors... trust me. I assume you can't afford a car.

To answer your question about timing... I used to take the overnight bus to Sg from Ipoh. I will reach SG at about 4:30-5:30am depending on the driver's balls. First bus from Woodlands CIQ to MRT is at 6:15am. Get into a train to Orchard Rd at 6:40am. Reach Orchard at 7:10am. Reach office at 7:20am. Takes about 1hr:5minutes. Add 5-10minutes for every bus/train you miss and have to wait for the next one. And when it's peak hour... you might not get into the first arriving bus or train.

This post has been edited by seantang: Jul 9 2012, 11:35 AM

If you have Linkedin, do PM me your profile.

Assuming that you have enough CPF. If you buy a simple average condo of around $1M, you are already looking at $175K for the 15% and stamp duty. Unless you have been working in SG for 10 or so years with a salary >4500, now 5000... you probably have less than that in your OA.

Actually it's a lot.

It really depends on your circle. If your circle of friends comprises mostly young people or non-professionals,.. then yes. Private property is very much out of reach until they are 10-20 years older or find another source of income. Amongst the Malaysians in my workplace, 90% of homeowners own either landed or condos (for those who started their careers in SG, it's on top of the HDBs they bought much earlier).

But as a % of total Malaysians in Singapore, you might be right. There are a lot more labourers/workers vs managers/directors.

In this forum however, I think many of you are just starting out. Private looks out of reach. But after a few promotions etc... you'll see things quite differently.

This post has been edited by seantang: Jul 12 2012, 09:29 AM

Exchange rate's moving against you right now.

If you earn only $4K a month, you need to target those HDBs further out and smaller costing $200+K. Don't try to run with the big dogs.

200K flat, you'll generally need only 50K to fund all the initial payments from downpayment to stamp duty etc. 4K salary, you can save 2K a month. So... all you really need is 25 months or 2 years. And if you withdraw your CPF and start to complicate the math a bit with compounding the interest/dividends on your progressive savings, you'll move into 200+K territory.

Question is... have you done your math?

I've done mine. I just bought my first property in SG last weekend.

This post has been edited by seantang: Jul 13 2012, 12:06 AM

The one I asked you about in Simei. Supposed to TOP in 2014. Was sold on it when I stepped out of the MRT. Took 3 minutes to walk the 80m from platform to project entrance and 1 minute to cross the road to shopping mall. Figured it was a sure rental or resale.

Thanks. Expected the market to sink after Lehman Bros but... Got tired if waiting and paying rental.

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Added on July 13, 2012, 10:31 amHDB... If I could, I would. But I can't.

Simei IS 10 stops from town leh. It's all the way in the East, physically right next to Expo.


This post has been edited by seantang: Jul 13 2012, 10:31 AM

No leh. Took maximum loan, maximum tenure. CIMB has a pretty unique reducing interest rate loan and my company pays half the interest on employee home loans anyway. And found a place that fits my definition of location, location, location which should offset any issues with increased supply coming online in 2013/2014.

Time was right I guess.

Assuming the principal is the same, the amount of interest you pay at the early stage or later stage depends on the interest regime across time ie. does the interest rate increase or decrease across time.

Unless you are comparing 2 loans with differing principal amounts, tenure and interest rates, you will never be given 2 choices with the exact same total interest amount... one of which is front loaded and the other is rear loaded.

I always compare cashflow. If I receive $XXX, how much $YYY do I have to pay back over how many years (which will yield the NPV of YYY)? It doesn't matter how much of YYY is interest and how much is principal. It's basically comparing how much comes into my pocket now vs (the NPV of) how much I need to fork out over the next 30 years.

Generally, the lower rate is ALWAYS better. No exceptions. If you want to fine tune, the lowest rate at the highest loan drawdown is better... which is why I opted for a reducing rate loan to fund a property that is under construction.

You are by far the last person whose advice I would follow. Much less advice of a "strategic" nature.

This post has been edited by seantang: Jul 14 2012, 09:53 AM

Look for 3/4/5/etc box layouts. Stay away from corridors, bay windows, store room/utility room/bomb shelter/study, wet/dry kitchens, immovable islands (eg. counter tops, decoration cabinets, room dividers, indoor gardens etc) etc. Smallest possible aircond compressor 'balcony' and washing machine/dryer area.

And these days, they sure whack you with a useless balcony. So I look for the narrowest, shortest one or one with unblocked view so that you can open the sliding doors and actually extend the space abit. But on the other hand... think of the dust.

This post has been edited by seantang: Jul 14 2012, 10:43 AM

You have to determine the following:

1. Do you value your time or extra space. This is the real decision. And no matter what anyone tells you, the commute takes a long time. Don't sugarcoat the traveling time. As for space, some people find its a big deal. I don't really care. The business side of me want PSF rather than SF. The leisure side wants aircond, big screen TV and a comfortable sofa. And I don't want to do any cleaning or gardening. The fewer chores the better. So a condo suits me to a tee, plus the fact that the security's so much better (twofold, Sg vs My generally and condo vs house).

2. Do you have a job that allows you to take your time to commute? Do you have a personality that can stand the commute?

3. If you are buying for investment esp unsupervised rental, it's a no brainer to buy a condo and to buy in Singapore. Easier to find high quality tenants, arguably more professional agents to help you manage the rental when you're overseas. Also it's harder to trash or strip a condo in Singapore vs a house in Malaysia.

In terms of appreciation, I must say I have no idea about Johor. But to me, the long term security of capital appreciation is in Singapore. That's why foreigners invest in Sg. Malaysia, especially Johor with its ahem "golf stick royalty" and UMNO bigwigs - reads like a cowboy town to me.

This post has been edited by seantang: Jul 14 2012, 06:48 PM

Even if you have no rental revenue (I also did not consider rental because I intend to live there), there's actually still a lot to consider. Besides the loan, you have your free cash balance, CPF and future net income that can (in a myriad combinations and timings) either pay down the loan or be invested elsewhere. The trick is to forecast now... how, when and what those future decisions will be - so that you select the correct tenure, interest regime, principal borrowed and place the offset investments that maximises your cashflow. Added complications are stuff like company interest subsidies, interest offset loans (from Stanchart, HSBC, DBS), future refinancing options... which can really f*ck up the spreadsheet to model the whole damn thing.

There are loan consultants/brokers you can engage to do all this analysis for you. No need to pay them. Apparently their payment is that you confirm to the bank that they brokered the loan for you. Quite useful I think.

My colleague gave me a freelancer that he used. He'll compiles and present the features of all the loans from major banks and any specific banks you ask. Yes, he'll be biased towards the bank with the highest commission but simply to get a single report listing all the loans with common denominators is damn useful already. Much easier to shop around. Then for courtesy, listen to the guy's pitch for 15 minutes lor.

Google for propertyguru's website. It's got a pretty comprehensive database and search tool that can accommodate selections from price range, psf to distance from MRT. Or you can select your favorite MRT station and it'll search for developments around it etc. Even the agents use it on their iPads to show stuff to their clients.

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Added on July 15, 2012, 1:12 pmNo, this guy only does property loans. More like a loan broker.

This post has been edited by seantang: Jul 15 2012, 01:12 PM

When the bomb shelter is the stair well, you're not charged. When it's your "utility room", you pay the psf. When the corridor is the lift lobby, you're not charged. When they put a corridor inside your flat (instead of say, having all the bedrooms open directly into the living room), you pay the psf.