This article will be part of a series that shares my journey to becoming a homeowner for the first time. There will be more article(s) that not only covers the actual cost, but also the process of purchasing resale flat using the HDB Resale Portal.

To date, my wife and I have paid the Option-to-Purchase (OTP) Deposit, and are awaiting the result of the HDB Resale Application. The below breakdown is our expected expense overall – actual amount may differ.


Flat Purchase
1) Flat Purchase Price $335,000
– OTP Grant Deposit $1000 (Paid via Cash)
– OTP Exercise Deposit $4,000 (Paid via Cash)
– Balance $330,000 to be paid for via CPF, Housing Grants, Housing Loan and Cash

Additional Costs expected
2) Valuation Report $120 (Cash, includes GST)
3) Buyer Stamp Duty $5,000 (Pay via CPF)
– First $180,000: 1% $1,800
– Next $155,000: 2% $3,200
4) Legal Fee for OTP (Pay via CPF) $699
– Acting in Purchase: $321
– Acting in Mortgage: …