- stamp duty
- lawyer fees
- valuation fees
- HDB application fees
- agent fees if you engage one (advisable)
The grants you can try to apply for are:
- Family Grant
- Proximity Housing Grant (if you find a flat close to parents)
All these are subject to eligibility and income ceiling.
If you would like, we can schedule a meeting to explain all these in more detail to you.
You may contact me at 93855005 . Read More
If you're taking up a bank loan, you might want to prepare about 30% of the property price. This will cover for the 25% downpayment, plus stamp duties and other miscellaneous fees.
Hence, for a $500k HDB resale flat, that would be be around $150k. This amount can be from CASH or CPF, though you will probably need to set aside minimum $30k CASH, for the 5% downpayment plus agent fees.
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 in the current market.
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the initial outlay will depends which type of loan you are taking.
1) max 90% HDB loan, 10% downpayment (cash or cpf)
2) max 75% bank loan, 25% downpayment (cash or cpf; minimum 5% cash)
Other costs will be:
a) stamp duty (3% of purchase price - $5400) if above $360k (cash or cpf)
b) legal fees up to $2.5k (cash or cpf)
c) resale submission fee $80 (cash)
d) valuation fee $120 (cash)
e) pro rated property tax
f) agent's commission (1% of purchase price plus GST)
g) $5k option deposit (forms part of the 5% cash downpayment)
As for grants, you will be eligible for family grant (up to $40k) and proximity grant (up to $30k).
Hope my sharing aids in clearing your doubts.
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"Your Freehold Ally, Leasehold Tactician"
YT TAN 陈永达 | ACCA Graduate, RES
Propnex Realty Pte Ltd
(M): +65 9111 5171
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