4 Answers

James Lim Yuan Sheng
Hi, we need to know how much savings you can afford to spend first. Next, I would advise you go to a bank to get an in-principal loan to see how much you can borrow. Different bank has different loan that you can take.
Next, you have to consider whether you have any existing property or not, and where do you intend to stay.
Note that to buy a unit, you have to pay 5% downpayment, 15% CPF and 80% loan max.
Please feel free to email me at yslim.kf@gmail.com or give me a call at 9138-5008  for me to further advise you on roughly the max amount you can purchase. Read More
YT Tan (陈永达)
Good morning,

How much cash do you have on hand? This will contribute to the 5% cash downpayment.

This will determine your ability to purchase a HDB or private property.

Normally HDB is not meant for investment but more for own stay. You have to fulfill 5 years MOP before you can sell off or rent out the whole unit but at the meantime, you can rent out rooms.

As for completed private property, you can rent out straight away or purchase a tenanted unit, instant returns. You can sell it off anytime but will subject to seller's stamp duty within 4 years of ownership from purchase date.

Do share more information with me so I can further advise you.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
Dear sir/madam,

May I know if you have any intentions to move into this purchase or is it purely for investment sake? I have handful of options for consideration for the different objectives. Do get in touch with me. Thanks.

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Geryl LIM
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Karrien N. Chan
A very good day to you,

I would like to suggest the following for your consideration:
1. Get the maximum loan amount and tenure you can get to benefit from the low mortgage interest rate. Base on the data you have provided and assuming you do not have other debt, your estimated maximum loan amount for 30 years: $668,000
2. Your estimated monthly mortgage payment at average annual rate 1.5%: $2,305 (Up to $1,150 deductible monthly from CPF OA depending on your maximum monthly contribution)
3. Estimated fund available for property investment: ($668,000 + $ 200,000 CPF)/0.95 = $913,684 => Round down to $900,000
4. Cash required for $900,000 property: $21,600 BSD + $45,000 Cash 5% = $66,600 (Lower cash available will reduce your property buying price accordingly)
5. Look for a property with more bedrooms for higher rental yield and large size or low psf for potential capital appreciation opportunity via enbloc

There are quite a number of large 3BR condominiums below $900,000 that could fetch $2,800 to $3,800 monthly rental income which more than cover your mortgage payment.

The monthly rental income could be used to increase your income to qualify for more loan for your subsequent property investments.

Meet me at any place to your convenience for more specific condo analysis or further discussion. Please make time to attend PropNex Quarterly Consumer Empowerment Seminar to gain better insight into the property market and have your queries answered by experts during Q&A. I look forward to hearing from you soon.

Thank you and Warm Regards,
Karrien N. Chan
CEA Reg. No.: R052532H
Mobile: +65 822 50 212
Email: karrien.realty@yahoo.com

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