Oct 5 2020, 10:58 AM
QUOTE(123help @ Oct 5 2020, 03:10 AM)
I’m 24 currently and I have 1million in cash from my business (still up and running) and I’m currently thinking to buy a house in the near future (maybe 3-5 years time?)
Currently my dad settling my loan for the car he bought for me (under my name)(worth 150k) and a house (joint name)(worth 1.6M) which happens to have my name also.
Both of the car and house going to be paid finish within 1 year.
My business currently making about 80k-150k net profit every month, while I paid myself 10k gross per month into my personal acc from my business and I managed to built up a cash saving of 1million. I don’t have any loans beside the ones that my parents bought for me and I have ZERO PTPTN and cc debt loan.
How much of a house can I afford to purchase right now? Would the 2 car and house loan affecting me?
For that level of money, it's better to seek professionals in financial planning. Forums like these are great to get "unfiltered" tips but it's never a replacement for sound advise from industry professionals.Currently my dad settling my loan for the car he bought for me (under my name)(worth 150k) and a house (joint name)(worth 1.6M) which happens to have my name also.
Both of the car and house going to be paid finish within 1 year.
My business currently making about 80k-150k net profit every month, while I paid myself 10k gross per month into my personal acc from my business and I managed to built up a cash saving of 1million. I don’t have any loans beside the ones that my parents bought for me and I have ZERO PTPTN and cc debt loan.
How much of a house can I afford to purchase right now? Would the 2 car and house loan affecting me?
People here could be anyone and they aren't liable if they give you bad advice.
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