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saving or buy now?
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Pai
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Feb 28 2009, 12:46 PM
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QUOTE(NTX @ Feb 28 2009, 10:17 AM) hi guy, need some opinion here, if one month saving 1.2k, then 5 year later buy house or now buy house, one month pay loan 1.2k?  my "evergreen" advise : Anytime is a good time to buy provided you buy at the right priceThis is ofcourse provided you have some comfoort level of job security and decent emergency savings
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Pai
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Feb 28 2009, 04:06 PM
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ntx, save some money 1st. Property prices wont go up by 10% next week, so u have ample time.
Learn all u can while u save the capital, start shortlisting what u want to buy and the bargain value price u r willing to pay when opportunity arrises.
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Pai
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Mar 1 2009, 02:38 PM
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QUOTE(Sonic boomer @ Mar 1 2009, 10:16 AM) I am also facing something similar to TS case. But for me my job security is at a rather high risk. I have calculated and I can tahan for 8 months without job though. OK to proceed? Personally, if i were in ur shoes, I'll proceed if both of the following conditions are met : 1. You are buying undervalued property, min 10% below market value. Try to nego a zero down deal, and use as minimal capital posible. This way, you preserve your capital and you can last much longer than just 8 months if u looose your job. 2. The property gives you nearly or positive cashflow. That way you monthly commitments aint that high, and relatively sustainable over substancial period of time. Good luck
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