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 optimum salary to start house installment

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cruelfacex
post Mar 1 2022, 05:23 PM

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i bought undercon house with 570k loan, salary at 6.2k gross.

married with 1 kid, very hard to survive paying both rental & progressive interest,

Now new job 8k salary, more comfortable,

so i say 8k gross if u have family, 6k gross if single

This post has been edited by cruelfacex: Mar 1 2022, 05:26 PM
cruelfacex
post Mar 1 2022, 08:02 PM

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Joined: Jul 2010
QUOTE(mini orchard @ Mar 1 2022, 05:35 PM)
How long to reach 8k salary ?

Honestly, if you have 8k then, would you buy that property or a 'better' property ? Maybe bigger build-up ? Better view ? Higher floor ? Corner unit ? Or another location ?
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took about 1 year, decided to jump company for better salary as i cant cope with current salary, if i had 8k salary at that time maybe i bought type C 1300sqft(4bedroom) instead of type B 1000sqft (3 bedroom). Price difference is about 100k.

if i bought the bigger unit then maybe i still cannot survive with 8k.

 

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