Good morning buyer,
great hearing from you!
The amount of cash outlay for a property purchase will depends on the amount of bank loan you can obtain and whether do you need to come out with cash for the CPF shortfall.
Let's say if you can obtain 80% bank loan, your initial outlay will be estimated around 23% of purchase price if you are a Singaporean.
1) 5% cash downpayment
2) 15% CPF/ cash downpayment
3) estimated 3% buyer's stamp duty
4) $3k legal fee
5) $1k valuation fee
6) $500 stamp duty for mortgage etc
Hope my explanation helps!
Btw with a budget of $600k, you might be looking at resale studio/ small 1 bedder. If you are willing to wait, you can probably consider to purchase a new launch.
There's a new launch, Kingsford Waterbay along Upper Serangoon View that will be ready for booking soon. 1 bedder is going for $5xxk. I can forward you the information if you are keen.
Hear from you soon!
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Property Avenue Pte. Ltd.
Vice President (Agency)
(M):
+65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
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