!!!

A friend showed me the budget list for his house. I am appalled by the amount of money needed to buy the stuff needed for a new house; on top of the renovation cost; and of course not to mention the cost of the house!! I am going to faint.....

And I also found out how extorbitant the interest rates are for HDB loan! 2.6% per month! So the higher the amount of loan, the higher the amount of interest incurred. And the the longer you take to repay the loan, the higher the amount of interest incurred. So try to make your own interest tabulation for loans of $100K, $200K or $300K etc; for each loan amount for different duration of loan repayment period of 10 years, 20 years or 30 years...and you will know what I mean.....I am totally speechless....

Now I am beginning to doubt my ability to finance a 5-room flat; before this I was quite confident that there would not be any problem...

Really, I really cannot believe that the interest could amount to $44, 360 for a loan of $100K with repayment period of 30 years. How is this going to encourage people to marry early, have more children or even have children early? How? For a start giving birth would cost a few thousand dollars, not to mention the cost of child rearing. How? I am not talking about how expensive the COEs are, how expensive the cars are, how expensive petrol is..I am talking about the basic necessity of starting a family; ie: a house!!

It is really amazing how others can cope; with house, with car etc etc. And I am talking about those who have been in the workforce for lesser amount of years or earning lesser or equivalent to what I am earning.

I am feeling depressed...