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We are a SC/SPR (29/27 years old) couple with a gross monthly income of 8.8k.

We have our eyes on a 4 room resale HDB (less than 10 years old) in a mature estate that is going around 680k.

Have about 59k combined in our cpf and we intend to take the maximum resale grant (40k).

Our liquid cash position is about 30k and have zero debt obligations.

Are we biting more than we can chew?

Did considered EC for a while, but do not have enough cash for the initial payments.
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5 Answers

Hi,

Actually you do qualify for a 2 bedroom EC around 600k, but for 3 bedroom there might require some cash top up. If theres an investment element in your plans and you do plan to move again in the 5-10 years, EC may be a better choice as the capital appreciation potential is quite high. If its more for own stay long term, hdb provides a larger size and convenience with it being nearer to city areas and workplace but capital appreciation potential may not be there.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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SMU BBM (Finance), Magna Cum Laude

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Good afternoon,

If the purchase price is $680k, the Down payment is 10% with HDB loan. Based on your available CPF, housing grant and cash on hand, it would be sufficient to proceed with the purchase. This would also include the legal and stamp duty for the purchase.

Do feel free to contact me should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Robbie Chen Chee Howe
Hi guys,

Based on the information you provided, the $680k resale HDB flat you shortlisted is within your budget, with all transaction costs taken into consideration.

Also, you do have the option whether to take the CPF housing grant. You should still have sufficient funds for the downpayment if you decide not to take the grant.

However, whether should you really go for it, you have to determine for yourselves what are your objectives of the purchase.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Edvan Lee CK 李钊昆
Hi buddy, are you prepared to "throw away" $200,000 cold hard cash? Please do consider carefully! If you would like to find out why, please feel free to drop me a message Read More
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GAN ENG JOO ONASSIS
Hi,

RE: SINGAPORE PROFESSIONAL REALTOR SERVICES BY “ONASSIS GAN” – SGAGENT.COM

Will not advise you to go for EC if you already have the main pictures that u chewing more than u can bite.

I would be glad to partner you in this property assignment. Do share more details before I can do any matching for you.

Onassis Gan | R021244C | Today’s SG Professional l SGAgent.com & SGRealtor.com
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

Singapore Line : (+65) 92222389 
Malaysia Line: (+60) 111-0788889
Email: onassis@sgagent.com / sgrealtor.com
Skype: incomecare

SGAUCTION.COM & SGDEAL.COM - "ONASSIS GAN" Trusted 100% by SG Property Owners- Exclusive Sales Team Read More
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