Part of me wants to preserve every remaining dollar as an emergency fund, while another part says a new home needs a realistic allowance for repairs and basic furniture. Neither approach feels comfortable without seeing the first-year costs together.
The property is a 2-bed Singapore condo priced at about S$1,099,000. Once the deposit and projected purchase expenses are paid, I expect to retain approximately S$41,540 in cash. The mortgage itself appears manageable, but that balance must absorb moving, service charges, possible inspection work, an insurance excess and the initial payments after completion.
Does that leave a sensible margin, or am I buying too close to my limit? I would be interested in how others split a similar buffer between money that remained untouched and money available for essential work. Delaying non-essential furniture or choosing a cheaper property would both be preferable to treating every small repair as a crisis.
The property is a 2-bed Singapore condo priced at about S$1,099,000. Once the deposit and projected purchase expenses are paid, I expect to retain approximately S$41,540 in cash. The mortgage itself appears manageable, but that balance must absorb moving, service charges, possible inspection work, an insurance excess and the initial payments after completion.
Does that leave a sensible margin, or am I buying too close to my limit? I would be interested in how others split a similar buffer between money that remained untouched and money available for essential work. Delaying non-essential furniture or choosing a cheaper property would both be preferable to treating every small repair as a crisis.