<prompt> Human: Hi Reddit,I am considering purchasing a 2bd in central location in my city Singapore for own stay and future rental after a few years. Expected closing price is 1.35m seller bought at last cycle at 1.56m so selling loss of 200k, and it is really a steal in the area given the quality. I really like the location and its 15 mins to walk. I need to take 1m loan for this property at 1.28 fixed rate for 2 years saving interest rate with a 0.7 spread so Monthly payment maintenance fee all in is about 4kmonth. Rental income is about 3.5kmonth if I decide to rent it out.General market: its considered a soft market given government regulation to control the market. Interest rate is very low at1.3 1.5 fixed for the first 2-3 years. Property taxes and insurance are negligible. Interest expense is NOT tax deductible. There might be some market headwinds in the next 1-2 years but in the long run most people believe housing market will continue to rise.Me: just turn 30 in a stable good job 15k a month base salary with bonuses, total income after tax is around 250kyear without any major expense other than this mortgage payment. If I want I can significant delever my mortgage after 2-3 years, I dont have much time to invest my saving in other ways honestly.So, am I able to afford this mortgage? I have never taken debt in my life before, the idea of 1m debt sounds scary to me. Or should I get something cheaper say 400k mortgage at location outside of central town?Edit: to add a bit flavour to the context, I am renting right now outside central about 1.7k month. I have been saving for the last year for the down payment so I dont have to pay other peoples mortgage. Again property tax and insurance is negligible in my country so makes sense to buy than to rent if can afford. And mortgage is very cheap right now. Alternative housing choice is 800k 2bd in non central location, I can pay off mortgage in 2 - 3 years with that property  <response>: With a monthly payment of less than 13 of your monthly income it is certainly feasible, it really comes down to if this is what you want to do with your money. 