How was the purchase of your first home? Did you buy it with cash or a mortgage loan? How much deposit you put into the down payment for the purchase? Buying a home is a big decision. The property market is good now and the prices has gone up very high for my liking. If, I were to buy my dream home now, I would need cash immediately for my down payment. Would payday loans be a good choice for me to get the instant cash for the initial payment?

From my discussion with my friends, they advice me not to buy it when you do not have the means to do it. I did re-examine my personal finance ability. I did my calculations and found out that I could afford paying the monthly installment with my CPF and the subsequent monthly installment of the loan for my down payment. However, I might not be able to survive if there’s any need of cash in the event of emergency.

I guess I would need to consider more of other factors and tips from my friends such as refinance of mortgage and finding the most flexible loans with the best rates.

So, what’s your experience of buying your dream home? What are the considerations?