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Good morning Siti,

You have to be 35 years old and above to be eligible under Single Singapore Citizen Scheme.

Amount of cash and CPF OA funds required will depends on what you have and price of the unit.

Do apply for HLE or IPA before kickstarting the process.

With all these ready in mind and checking what are your eligible grants, you will be ready to purchase when you turn 35.

Fighting!

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Hi Siti,

You would have to hit 35 years of age first if you are planning to purchase a resale flat all by yourself.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

It should be planned according to the location you are looking at. Are you buying under Singles Scheme or?

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
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Hi Siti,

1) It is difficult to forecast how much a 3-rm flat will cost in the next 5 yrs.
2) Based on today's market, a 3-rm flat ranges from $285k to $1.48M.
3) By removing these exceptional high and low prices, the average cost for a 3-rm flat is around $350k to $400k.

4) So based on the current HDB loan, you will need a 20% down payment for the purchase.
5) You will need $70k~$80k in CPF OA + grants available for the down payment.
6) Current Single grant is $40k for Single SC at or above 35 yrs old buying a resale HDB flat. If this is not changed, you already have half of your funds solved.
7) You will need to be eligible for a loan amount of $ 280k~$ 320k. Based on the current criteria of MSR, you will need to earn a monthly income of $5,000~$5,650.
8) Cash wise would be as follow:
(a) Option and exercise fees = $2~$5,000.
(b) Valuation report = $120
(c) Resale application = $80
(d) Fire insurance = $6
(e) Caveat fee = $160.90
(f) Registration fee for land registry = $76.60
(g) Miscellaneous = $15
So the minimum cash you will need = $460.50 ~ $5,458.50.

9) If you are engaging an agent for your purchase, you will have to factor in a 1% + GST for your cash outlay.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answer your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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