In a post on Lemon8 social media under the username @Heiding_fromyou, the woman highlighted that she and her husband did not rely at all on their parents to buy an apartment and that the process of saving money took three years to successfully complete.
The woman stated in the article that the two paid 25% of the total cost of the home upfront (SGD300,000 to SGD350,000, about RM1,011,313 to RM1,179,866), with the remaining 75% being paid monthly (SGD4,000 to SGD4,500, about RM13,484 to RM15,169). She pointed out that the 25% down payment and buyer’s stamp duty (BSD) are the most difficult parts.
She also discussed her plan to buy a home with her husband. The two maintained monthly savings of SGD 2,000 (about RM 6,742), increased the provident fund deposit by 50%, and took out a bank loan for SGD 100,000 (around RM 337,104) during the span of these three years.
She added that you should register an account together and make sure to save money each month if you want to be disciplined about saving. In addition to saving money, put some money away for an emergency fund. Finally, you can look for extra sources of income and take on part-time jobs to increase your income.
