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Dear madam,

Thank you for your enquiry. Judging by what you have provided, I am assuming that you are a Singapore Citizen, therefore you should be eligible to purchase a resale HDB with your spouse as co-owners if home loan is not an issue. Since you are a housewife and not working, home loan will be based on your spouse's income for consideration, therefore it will be good to find out on your home loan eligibility in order to work out on the price range you should consider basing on your existing finances. You will need to standby some cash at least if you are going for HDB loan, at least for the deposit as well as the administrative part. Cash is also required if you decide to engage the services of an agent to assist and represent you in this purchase.

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

You may text 9620 0827  for a casual chat.

Warmest regards

Gavin Read More

Hi,

1) You did the first thing right is to ask before buying.
2) It does not matter whether this is your first time buying or multiple times. It is best to find out all information before buying. We should only make an informed decision.
3) You mentioned of waiting for rental flat means you are an SC. But not sure about your spouse's residential status.
4) You can be an owner even though you don't have active income and not going to contribute to the monthly mortgage.
5) The advantage of being the owner is of course you own shares in your property. You will be also be allowed to utilize your CPF fund in your OA for the down payment and/or servicing the monthly mortgage.
6) Buying a resale flat is entitled to housing grant:
(a) If both are SC; family grant = $50k.
(b) If one SC + one SPR, family grant = $40k
(c) If one SC + one FR, and SC >=35 yrs old, Single grant = $25k
7) You will need to prepare cash for option + exercising OTP (max up to $5k), other costs will be as such:
https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/financing/costs-and-fees

8) I'm assuming you are eligible for an HDB loan for the above. If you are not eligible for an HDB loan, you will have to apply for a bank only.
9) Bank loan will only loan you 75%, you will need a 25% down payment of which 5% in cash of the purchase and 20% in CPF and/or cash.

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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Hi
To answer your question:
1) Yes. You may apply for HDB or bank loan as long as at least 1 party is working. In addition, if you are a first timer, you are eligible for family grant ($50k), EHG grant (depends on your husband pay normally $50k) and PHG grant ($20k if you purchase a unit within 4 km from your parent)
2) There are a few pro and cons but definitely you will better off rather than renting.
3) Yes you do need to prepare some amount of cash as a form of deposit to seller and pay up for COV if any. In today's sellers market situation, it is normal for buyers having to pay up COV incase they purchased at a price above valuation. However the vast majority of the buyers I served did not have to pay up any COV.

I am specialised in HDB transactions. In order to advise you further, I will need more details in regards to your financial situation and circumstances. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Mohammad Taufik Bin Hussein
CEA Reg No: R061607B
Contact No: 93375051 
ERA Realty Network Pte Ltd Read More