Hi There,
Thanks for your query!
Firstly with regards to the downpayment, assuming 80% loan is approved, cash needed will be 20%. 5 % Cash & 15% CPF. The other associated costs would be the Buyer Stamp Duty of 3% and Misc Legal Fees. However, as advised by my fellow colleagues, it would be best to speak to a banker to asses your financial planning in funding for your upgrade.
To be able to advise further which residence option might work better for you, perhaps you could furnish me with your requirements, lifestyle preferences and finances on hands to draw a progressive payment plan + chart out the pros/cons of each residence type for your consideration. I had a client, with a similar dilemma (purchasing EC or EM) recently, and I advised him to purchase an EC after the thorough preliminary checks and calculations. The 1st testimonial in the following link illustrates how I went about assisting him in a step by step and systematic manner : http://www.kumarrai.com/agent-page/88280/testimonials
ECs generally have better appreciation scope with higher returns, with HDB seen as a declining investment asset. To further nurture your understanding, i would illustrate the transactions caveats and sales report of EC vs HDB, to analyze which option would value add your property portfolio. I have concluded sales at various ECs in recent months, and am currently working with a client with his EC purchase at Sol Acres. Being extremely familiar in the EC arena, I would be most glad to guide you exactly on the step by step procedural framework of EC purchase. Furthermore, we can always explore the deferred payment scheme and limited edition interior design option. To add , there is no agent fees in the purchase and your welfare is protected. Hope to hear from you!
D Kumar
+65
96659926
ERA Associate Division Director
www.kumarrai.com ( Recent Awards and Testimonials)
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Actually, I'm keen in 3-bedder (at least 115sqm) freehold resale condo around the new Cashew, Beauty World or Hillview MRT stations. Is it possible to find one selling at a good price (not exceeding $1.1mil)?