How Much Should Your First Home Cost?
This article originally appeared on ValuePenguin You’ve been working for quite a few years, saving money to buy your home one day. You are getting married, and now you’ve finally saved enough to make it happen. However, with homes easily costing close to a million dollars or more, you won’t be able to do it without the help of some bank financing. But, how much should you really borrow? While it’s rather easy to figure out how much you are allowed to borrow by the government and banks in Singapore, it’s a whole another issue when you are trying to assess how much home loan you should be getting. If you are one of those people, this guide can help you get started in getting to your answer. How much should you expect to pay for your home? In order to help you understand the approximate cost of a home these days in Singapore, we collected the median price of 4-Room HDB Flat resales by town. According to the data released by the Housing & Development Board, you can expect to pay anywhere between S$350,000 and S$900,000 for a 4-room HDB flat, depending on which town you are residing. Given