A 26-year-old couple from Singapore has made headlines by purchasing an RM3.98 million condominium without any financial support from their parents.
In a time when property prices in Singapore are skyrocketing and many people in their 30s are struggling to purchase their own homes, this couple has managed to achieve what seems impossible.
The couple revealed that they were able to buy the condominium by using their Central Provident Fund (CPF), taking out loans, and most importantly, by saving diligently for three years.
They broke down their savings into two categories, with 25% allocated for the downpayment and the rest for the monthly repayments which range from RM13.2k to RM14.9k.
Despite the hefty price tag of the condo, the couple shared that they were able to manage their finances by paying less than RM3.3k each month in cash payments, as their CPF covers most of it.
They even put down a downpayment of RM1.16 million, which included the buyer's stamp duty cost.
@heidingfromyou WayBackHome - 苏七岁
The couple's condominium features a small but functional kitchen, a furnished living room with a sofa, television, and console, as well as a private balcony that overlooks the pool.
The unit consists of 2 bedrooms and 2 bathrooms, making it a great investment for the couple.
Their combined income estimation to afford the RM3.98 million house is RM33.5k, which means that they had to save RM6.6k each month for three years to afford it.
It is inspiring to see young couples like this who are willing to put in the hard work and dedication to achieve their dreams of homeownership.
While it may seem daunting at first, it is important to remember that with careful planning, budgeting, and determination, you too can make your dream of owning a home a reality.
