Hi Mdm,
We can do a financial calculation to check whether will you be able to afford a freehold 2 bedders within proximity to hwa chong.
But first do take note of the cooling measures that will be applicable to you.
1) additional buyer's stamp duty of 7% as Singaporean
2) need to set aside basic retirement sum of $85.5k in your CPF OA + SA first before can use the excess CPF OA funds in this purchase.
Loan eligible (assume max loan tenure 30 years)
- $1.27m if without any debt like car loan or credit card etc
Finances on hand (if set aside $85.5k)
- purchase price is around $1.38m
If dont need to set aside $85.5k, it will be $1.67m.
Even though, you are eligible for a substantial loan but due to the cooling measures, you can only go for a property around $1.38m to $1.67m.
Thus it might be difficult to purchase a freehold 2 beds in proximity to hwa chong.
Hope my explanation is informative and value adding to your property purchase.
I have assisted numerous in their asset progression plan with them owning two properties, one for own stay and the other for investment and with emergency funds. Will you be keen to find how can you save on tax savings and still own two properties?
Let's meet up over a cup of coffee to discuss and explore your options.
Hear from you soon!
"Your Freehold Ally, Leasehold Tactician"
YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480
(M):
+65 9111 5171
(E): yt.tan91115171@gmail.com
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