Asked by Mr. Shajesh Kumar Karnavar Shankaran
How much initial investment needed to buy a condo?
942 views
3 Answers
Hi,
It depends on the purchaser profile. Typical breakdown for SC local buyer 1st property purchase will be:
Cash 5%
CPF 15%
Max Bank Loan 80%
Stamp Duties + Legal Fees Approx 3%
So for a $1mil property, its about 230K required within 8 weeks of booking. Thanks and hope to assist with your plans further.
Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact: (+65) 97432395
CEA Registration Number: R052114D
ERA Realty Network: L3002382K
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
It depends on the purchaser profile. Typical breakdown for SC local buyer 1st property purchase will be:
Cash 5%
CPF 15%
Max Bank Loan 80%
Stamp Duties + Legal Fees Approx 3%
So for a $1mil property, its about 230K required within 8 weeks of booking. Thanks and hope to assist with your plans further.
Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact: (+65) 97432395
CEA Registration Number: R052114D
ERA Realty Network: L3002382K
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
Good afternoon Shajesh,
Your initial outlay will be as such if you are a Singaporean:
1) 5% cash downpayment
2) 15% CPF or cash downpayment
3) estimated 3% buyer's stamp duty
4) $2.5k legal fees
5) $500 stamp duty for mortgage
6) valuation etc
If you need further assistance or advice in your property purchase, feel free to contact me. 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
Your initial outlay will be as such if you are a Singaporean:
1) 5% cash downpayment
2) 15% CPF or cash downpayment
3) estimated 3% buyer's stamp duty
4) $2.5k legal fees
5) $500 stamp duty for mortgage
6) valuation etc
If you need further assistance or advice in your property purchase, feel free to contact me. 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
Hi there Mr Shajesh!
This is what you will need.
1) 5% cash (1% Option fee + 4% Exercise Fee)
2) 15% CPF from Ordinary Account or cash downpayment (take note of minimum sum requirement if this is your 2nd property purchase)
3) estimated 3% buyer's stamp duty + Additional Buyer Stamp Duty (ABSD) if any, depending on your citizenship and how many properties you already owned.
4) Estimated $2.5k legal fees
5) Estimated $500 stamp duty for mortgage
6) Other fees
7) Renovation & furniture cost to value add the house for easy rental
Hope this helps!
John Tan YS
ERA Realty Network Pte Ltd
R012788H
facebook.com/johntys
powersginvest.com
+65 9633 8431 Read More
This is what you will need.
1) 5% cash (1% Option fee + 4% Exercise Fee)
2) 15% CPF from Ordinary Account or cash downpayment (take note of minimum sum requirement if this is your 2nd property purchase)
3) estimated 3% buyer's stamp duty + Additional Buyer Stamp Duty (ABSD) if any, depending on your citizenship and how many properties you already owned.
4) Estimated $2.5k legal fees
5) Estimated $500 stamp duty for mortgage
6) Other fees
7) Renovation & furniture cost to value add the house for easy rental
Hope this helps!
John Tan YS
ERA Realty Network Pte Ltd
R012788H
facebook.com/johntys
powersginvest.com
+65 9633 8431 Read More