Wanting a place of your own but could not afford to buy your first property in Singapore yet? Properties in Singapore along with living expenses are expensive and you cannot afford to get yourself a property in Singapore just yet. Therefore you decide to rent an apartment in Singapore. But how much should you pay for renting an apartment in Singapore? What is the actual rental cost of apartment for rent in Singapore? Before renting an apartment in Singapore that you can afford, it is crucial to figure out the actual cost of renting an apartment in Singapore to avoid from paying more than what you should. The basic rule of thumb, be realistic and set realistic budget within your means to save you from disappointment.
First and foremost, use the rental calculator to check for the rent affordability of the apartment for rent in Singapore. Just key in your monthly net income, monthly expenses, monthly savings, monthly debts, and the location of your desired apartment into the provided columns and the calculator will do the rest. The results will then suggest the rental cost that you can afford comfortably with apartment listings within the range for you to decide. Definitely a life saver if I may say so.
Next, you have to know that the amount that you will be paying is more than just rental cost for the apartment itself in Singapore. Let us just face the reality. Nothing is free and everything costs money. Take into account the necessities that you need in your daily life, such as transportation costs, e.g.: transit fees, car payment, car insurance, petrol, health fees, renters insurance, credit card bills, tuition fee loan payment, cellphone, Wi-Fi, groceries expenses and utilities. In addition, the leisure needs for yourself, such as gym membership fees, shopping, daily caffeine fix, Friday’s night happy hour, Netflix and etcetera. All these can add up to quite a huge amount if you do not plan your budget wisely, which will then affect the next point that I will go into – savings. Having a saving is crucial as it might help you through difficult times in case of any events that happen unpredictably. Therefore, bear in mind that is is important for you to have a saving. It does not matter how much but at least have a portion of your monthly income fix for your savings plan or investment account every month to tide you through unpredictable events in the future.