When comes to purchase new development, you are strongly suggested to work out your property financing and understand the governmental policies. Here are some essential points you should consider.
- Buy new project from developer, sales process, payment scheme and timeline
- Property loan: understand the property loan fundamentals in Singapore.
- Property related taxes: Stamp Duty, Additional Buyer’s Stamp Duty, Seller’s Stamp Duty, Property Tax, etc..
- CPF money: for Singaporean and Singapore Permanent Residents, CPF is an important financing source for purchase private home. there are CPF policies relevant to purchase a residential property.
- Property financing: it’s about affordability and commitment under Total Debt Serving Ratio(TDSR) framework, Loan-to-Value Limits, and cash down payment, if you plan to use bank loan to finance the progressive payment after settle the down payment.