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Dear Pauline,

Thank you for writing in here. With the latest round of cooling measure introduced on the stroke of midnight yesterday, assuming that you are looking at financing your purchase through HDB loan, you will be required to have at least 15% of the purchase price in cash and/or CPF combined since maximum loan you can undertake now with HDB is 85%. In addition, your purchase will also be subjected to Buyer's Stamp Duty of 3% - $5,400 as well as some other miscellaneous costs like conveyancing fees, admin fees, valuation fees and etc, which is likely in the range of $1,000.

Do check out on your loan eligibility with HDB, as the amount you are able to loan will be based on both your combined income as well as age. This is the link you can visit for application, which is free of charge.

I have been in the real estate business since 2009, with more than 12 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi Ms. Pauline,

1) I assume you are both SC and taking the HDB loan in order to provide a more accurate assessment.
2) Flat price = $480k
(a) Downpayment = 15% (min) = $72k (CPF + cash)
(b) Max loan = 85% = $408k. Combined household income must be at least $6,850 in order to get sufficient loan.
(c) Cash (assume no COV) = $6k, option + exercise fee + miscellanous.
(d) Buyer stamp duty = $9k (CPF and/or cash)
(e) Legal fee = ~$1.8k (CPF and/or cash)

3) If intend to fully utilize CPF fund instead of cash, your combined CPF must be at least = $72k + $9k + $1.8k = $82.8k.
4) Bt Panjang area flats are either very old or very new (just MOP last yr). Those which are more convenient in terms of connectivity are mainly the older ones. And those newer ones are at a very high price.
5) I would suggest you also consider other areas as well where there is something in between for selection.
6) You are also eligible for the family grant of $25k. You might have to consider taking this in order to build your family sooner.
7) But do note that you will be subject to resale levy in the future if you book a BTO/SBF.

Hope the above answer your main concerns, but if there are more query, 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
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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