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Condo Questions

Asked by Ares 28 Dec 2011

Dear Gurus, if a PR wanted to buy 1mil condo for 2nd property, say loan 80%, so minimum he must need 20%+10%+3% = around 330k to afford a condo? Or is there ways to cut down the beginning burden?

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Mike Lim · Answer 1 · 2011-12-29T10:57:57+08:00

Mike Lim

Replied 29 Dec 2011

Morning,

For PR, during the purchase of second property, the expenses are as follow:
Standard Stamp Duty: $24,600
ABSD: $30,000
Downpayment: $200,000(If you do not have CPF)
Total: $254,600
You can do it the other way by working out your comfortable budget and look for units that match it.

FYI
Mike Lim
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ERA Read More

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