Property
My Homebuying Journey as a Single Under 35!
By Sethisfy  •  September 14, 2021
I’ve been asked by many people (okay, it was three) about my homebuying journey, and it’s been something I wanted to talk about for the longest time! Check it out on my YouTube! Likes and comments help my channel greatly and I appreciate everyone who watches 😀 The process of buying a resale condo
Activity Payment Payment Mode
Get approval-in-principle loan (maximum 75% of property purchase price)
Make an offer to buy (i.e. Booking Fee) 1% of property price Cash
Seller accepts, and buyer exercises the offer to buy (i.e. Option Fee) 4% of property price Cash
Hire a conveyancing lawyer $2,000 to $3,000 Cash or CPF
Pay Buyer’s Stamp Duty (and Additional Buyer’s Stamp Duty if applicable) 1% on first $180,000 2% on first $180,000 3% on next $640,000 4% on amounts above $1 million Cash or CPF
Balance of downpayment 20% of property price Cash or CPF
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By Sethisfy
As an adult, I’ve been through many ups and downs in my career path and personal finance journey, not unlike many Singaporeans. From my years as a tied insurance agent turned independent financial adviser, I realised that there are very few sources of proper, unbiased financial advice for working adults to access. Worse, self-styled “financial consultants” are selling products like savings plans and ILPs to the detriment of the clients whose interests they were supposed to serve.
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