Hi,
To find out the max price, it depends on how much loan you are eligible for the next property, and that will in turn depend on age, gross monthly income, monthly installments obligation. Assuming selling at $2.4mil, after redeeming the bank loan, the cpf + cash sale proceeds will be approx $1.245mil. This plus $700k cash on hand will be approx $1.945mil funds on hand for down payment.
Based on $5mil landed purchase, the down payment + stamp duties will be approx $1.5mil. So if $3.5mil loan is possible, this will be a ballpark figure to work with.
Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at
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Mr & Mrs Wee : We would like to share our appreciation and commendation to Ivan for their professionalism and dedication in handling our property transaction. It was a great pleasure to work with him as he was patient throughout the entire process and explained to us and clarified any doubts we had without fail. He was also very prompt in responding to all the queries we had. While we were unsure if we were able to sell off the property in time, Ivan constantly reassured us that it was possible and offered his professional advice. In fact, he managed to secure an offer to sell the property above our expected price while concurrently negotiated the buying price for our next property. Having Ivan as our agent significantly made the entire process seamless and fuss-free. We will definitely recommend Ivan to our family and friends.
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With a gross income of $25k, the maximum loan amount that you can get is around $2.6mil.
So combining these two factors, The max price that you can afford is around $4.6mil if you sell your condo, which can get you a decent landed property.
To calculate the pricing if you do not sell your condo will require you to provide the monthly mortgage payment amount, however you do incur ABSD as well on the purchase, so there won't be any landed property available at that price range, at max another condo