Asked by Nancy
Hi I am a PR, if I buy a 2-3 room HDB , how much cash do I need to prepare?
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3 Answers
Morning Nancy,
Firstly, as PR, you are only eligible to purchase HDB unit when you are married to another PR or Singapore Citizen.
Then, taking an exmaple on purchase of 2 rm flat, the estimated valuation is around $220k to $260k with COV of around $30k to $40k. If you gets an 80% loan, you need to come out with $13k cash (5%) and and $39k CPF (15%). In the case that you do not have sufficient CPF, you have to top up the difference by cash.
On purchase at $300k, the stamp fee is $3600, and legal fee, after bank subsidies, should be around $1500. Not to forget the agent's commission, in my case, 0.8%, that would be around $2600.
Hence in all, you will need around $100k cash, assuming you are purchasing a unit of $300k, and that you do not have any CPF at hand.
Do feel free to contact me if you require further assistance.
Mike Lim
96929209
ERA Read More
Firstly, as PR, you are only eligible to purchase HDB unit when you are married to another PR or Singapore Citizen.
Then, taking an exmaple on purchase of 2 rm flat, the estimated valuation is around $220k to $260k with COV of around $30k to $40k. If you gets an 80% loan, you need to come out with $13k cash (5%) and and $39k CPF (15%). In the case that you do not have sufficient CPF, you have to top up the difference by cash.
On purchase at $300k, the stamp fee is $3600, and legal fee, after bank subsidies, should be around $1500. Not to forget the agent's commission, in my case, 0.8%, that would be around $2600.
Hence in all, you will need around $100k cash, assuming you are purchasing a unit of $300k, and that you do not have any CPF at hand.
Do feel free to contact me if you require further assistance.
Mike Lim
96929209
ERA Read More
Dear Nancy,
Please kindly drop an email to me on your price expectations & requirements.
I hope to hear from you soon
Thanks.
Choo Jia Ming
B. Hons (EEE)
Savills Sales Director
HP: 9476 2732
Email: jiaming.choo10@gmail.com
Salesperson registration. no: R026370F Read More
Please kindly drop an email to me on your price expectations & requirements.
I hope to hear from you soon
Thanks.
Choo Jia Ming
B. Hons (EEE)
Savills Sales Director
HP: 9476 2732
Email: jiaming.choo10@gmail.com
Salesperson registration. no: R026370F Read More
It is not only about 'cash' concern.
The S&P process needs careful and confident planning with resale checklist submission especially HDB, CPF, bank and lawyer etc. Recently my client 'suddently' bought a dream condo while 'holding on' to a HDB flat. They needed the extra 'funds' for the condo. Hence, after a series of planning, discussion and deliberation, they finally decided to sell their HDB unit. If you want a consistent S&P process, call us for an opinion. The stress relief effort is enormous and the commission is insignificant. Check this site: www.catherinepang.com Read More
The S&P process needs careful and confident planning with resale checklist submission especially HDB, CPF, bank and lawyer etc. Recently my client 'suddently' bought a dream condo while 'holding on' to a HDB flat. They needed the extra 'funds' for the condo. Hence, after a series of planning, discussion and deliberation, they finally decided to sell their HDB unit. If you want a consistent S&P process, call us for an opinion. The stress relief effort is enormous and the commission is insignificant. Check this site: www.catherinepang.com Read More