Good day to you!
I’m Daniel Tan from Huttons.
A modest estimation of the price of a 1 bedroom private apartment unit will be around the range of S$650K.
As you currently have an outstandng loan, your loan amount will be reduced significantly to 50% of the property price. Therefore your downpayment before any stamp duty will be S$325K. Further more, the loan tenure will be in the range of 20+ years, depending on your age.
Stamp duty to be taken note of includes:
Buyer stamp duty: 3% minus S$5,400
Additional Buyer Stamp Duty: 7% (Singaporean 2nd property)
Misc Fees/Charges (Legal/Insureance/Valuation): ~S$3,000
A possible suggestion will be to redeem your current mortgage on your HDB, so that you can take a loan of up to 80% on your new purchase, subjected to bank approval.
Please do share with me more on your requirements and concerns so as to allow me to better assist you with your pruchase. Currently it the buyer's market, there are many good deals for new projects availabe in the market for you to choose from.
Hope to hear from you soon. Thanks.
Any other queries?
Please always feel free to contact me for a non-obligated discussion on how I can assist you with your real estate needs.
Have a great day ahead.
Huttons Asia Pte Ltd