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Funding a house using CPF

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  • #16
    as a person who stayed overseas, i dont have much CPF savings...
    i have 2 insurance policies, one which is a life insurance policy ( which i think if i die, i get some money back) and another one is an endowment policy (yeah, think i can get some money back

    basically i agree with lumos, buy within ur means
    i am bogged down by another mortgage over here and it is hard to buy another house (hopefully in 2 yrs time) cos interest rates have gone up

    as for a house in singapore, i think that can wait a while.
    the size of a HDB has shrunked significantly and even buying to rent it out doesnt seems that favourable now...

    i think it is quite important to look at inflation rates, economy situations and of course basically not putting money in one basket.

    i am a great believer of diversification of risks and by putting ur eggs in one basket means risks to me....

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    • #17
      Originally posted by lumos
      i think another important thing to note is that you should be realistic when buying a house.
      I agree wholeheartedly with trailblazer (GREAT advice! ) and lumos.

      In our case, we got a 3-rm flat and if it weren't because of the location, people would be talking more haha. My parents-in-law were not exactly ecstatic answering relatives (even though they themselves lived in a 3-rm all along, I suppose they felt their son could do better than them). My galfriends were rather shocked. Even during housewarming, my hubby's colleague in a matter of conversation said he thought we would have bought a condo instead. We just stick our heels in and since we're happy and secure in the knowledge that financially we are not in as precarious a position as some people, right?

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