Good morning Raja,
In order to be eligible to purchase a private property owner, you have to fulfil the minimum occupation period.
Have you meet the fulfilment?
Do you have intention to hold on two properties? Or intent to sell current HDB and purchase a private property?
If you want to hold on to both properties, your household must have at least 1 Singaporean. If both are SPRs, you have to sell off your HDB within 6 months from completion/ key collection date of private property.
Let's assume you are a SC and wants to hold on to two properties.
As you don't have any outstanding loan, you can obtain up to 80% bank loan (still subject to total debt servicing ratio, your age, income, debt etc).
If you have utilised CPF OA funds in your current HDB, you have to set aside a minimum sum of $77.5k in your CPF OA + SA first before you can use the excess to purchase a private property.
And you will be subject to 7% additional buyer's stamp duty as a SC on your second property purchase.
Summary:
1) 5% cash downpayment
2) 15% CPF downpayment
3) estimated 3% buyer's stamp duty ($24.6k)
4) 7% ABSD ($70k)
5) $3k legal fees
6) valuation fee, stamp duty for mortgage etc
Hope my explanation helps!
If you need any assistance or advice in your property purchase, feel free to contact me.
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
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