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Hi Guru,

I'm currently 26 years old Singaporean, Looking for private condo range ($350,000 ~ $450,000)
Planning to get it in 3 - 5 years time.

Monthly Income $3500 (include CPF, Exclude AWS & bonus)
Savings 30k CASH + 20k CPF - Target to have total 100k ~ 120k by the time.

My Requirement:
Similar to High Park Residences Condo
350k - 450k - Studio / 1 BED / ( 2 Bed if Possible )
Hopefully Loan 350k for 25 Years (65 - 70%)
Currently No Debt, Car & Loan.

Your Advice is needed for the next upcoming Property, Bank Loan, Location and future plans.
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1 Answer

YT Tan (陈永达)
Replied
Good evening buyer,

Usually these are the expenses that you need to fork out for a property purchase provided you are able to obtain a 80% bank loan (still subject to total debt servicing ratio):

1) 5% cash downpayment
2) 15% CPF OA or cash downpayment
3) estimated 3% buyer's stamp duty
4) $2.5k legal fees
5) $500 stamp duty for mortgage
6) other misc fees

For instance, a property costs $600k. You will require at least $138k (23% of purchase).

Hope my explanation helps! Cheers

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More
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