Purchasing a home is probably one of the biggest expenses most Singaporeans will experience. This post explores how to save for your first home, alongside useful CPF calculators and strategies.  This article was submitted by a Guest Contributor.

1. Using your CPF effectively 

A big part of saving for a home in Singapore is effectively using your CPF.  First, you should determine what you can use your CPF for i.e. down payment, housing loan, stamp duty and legal fees etc.  Next, are you looking at HDBs (BTO, resale), ECs or private housing?  Keep housing limits in mind.  Use the CPF housing usage calculator to estimate the amount of OA savings you can use.  If you have an existing property, log in to CPFB’s Home ownership dashboard to check the amount used for your property and how much more you can use....