Hi,
Since you are single and only being SPR for 6 months. Your choice is limited to private condominium or apartment.
The difference in definition between condominium and apartment is the overall land size and has nothing to do with the facilities.
Land size for Condominium is a minimum of 4000 sqm, anything lesser is classified as apartment. This classification also does not undermine the price of the property.
(1) Budget: Your budget of owning the property will affect the size and lease type of the property.
Thus you have to carefully look into your finance status to decide where and which to do your home search.
(2) Means of borrowing: since this is private property, you can only get assistance from banks; be it local or overseas bank.
Both of them are restricted by MAS (Monetary Authority of Singapore) on how much loan they allow to dispense to each individual for mortgage.
(3) How to find out: You may use TDSR (Total Debt Servicing Ratio) to understand how much you could borrow with your current income.
After the above exercise, you are more or less able to search for your ideal home.
Hope the above answer to 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
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