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Hi Buyer,

1. For you to purchase HDB, both you and wife must have PR status for at least 3 years.

2. For private condo unit, it depends on the district and space. New launch and resale will have different pricing.

3. Yes you are eligible for bank loan. As agents, we are able to do a rough calculation for you. However, to get an exact amount, it is prudent to get an IPA from a banker.

It will be good if we are able to meet up or feel free to ask me questions Read More

Hi Junaid,

1. You will have to wait until your wife PR fulfilled minimum 3 years status before eligible for any resale HDB.
Or alternative, your application of SC is successful, you may purchase your resale immediately.

2. This query is greatly dependent on your passive income and age.
If you are eligible for max loan tenure such as 25 yrs and current income:
(a) Your max Mortgage Service Ratio (MSR for HDB) is properly around $270k.
(b) TDSR (for private) is even lower, around $200k.

3. Honestly speaking, $500K for resale HDB can get you a reasonable size (avg 90 sqm) and/or location (can be in mature town if can compromise on size).
But with the same amount for private, I'm afraid the size (max 55 sqm) and location (outer urban) properly not in your favour.

To buy HDB, cash needed is less than $10k if getting HDB loan.
Getting bank loan, min 5% cash is needed, with target price of $500k, is $25k. This is not considering other cost such as legal fee, caveat, commission etc.

However, if you applied with 2x PR status, bank loan is the only option.

4. I guess no one can asnwer this question. There are 2 factors determine the cost:
(a) Current condition of the house purchase.
(b) Your definition of "basic", this always vary on individual.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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