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Hi, it will be a little tight for you if you are planning to do so in the next few months as there are alot of costs involved when purchasing a property. Let's say you purchase the cheapest available in the market now for say $600,000. The upfront costs you will have to pay is the Buyer stamp duty and downpayment. Assuming you can get a 75% LTV for the unit, you will need to pay $150,000 in downpayment with at least 5% in cash. This added on to the $12,600 BSD will be a huge amount, which might be too tight for you in the next few months.

If you are looking to purchase a unit in the future and require more assistance, I can help .

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
 97396040 
landonchew@email.com Read More

Good morning,

estimated loan amount based on your income is around $424k thus your budget will be around $500k with your finances on hand. You might need another $100k to purchase.

If not you might have to opt for rental at the time being.

Hope my sharing aids in your property needs. Do contact me if you need any assistance.

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!

Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

Contact:
Mobile: 9111 51 71 (wa.me/6591115171)
Email: yt.tan91115171@gmail.com

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Challenges:

Limited Track Record: As a fresh graduate with only a few months of working experience, you might have a limited employment history for loan applications.
Loan Eligibility: Banks typically prefer borrowers with a stable employment track record (at least 1-2 years) when considering mortgage loans.
Downpayment: Even for a small condo unit, the downpayment can be significant. The Minimum Downpayment for HDB flats is lower than condos, but you might not be eligible for HDB as a single applicant under 35.
Options to Consider:

Build Savings and Experience:
Focus on building your emergency fund and saving for a downpayment over the next 1-2 years. This will improve your financial standing and loan eligibility.

Explore HDB Options (After 35):
If you're open to waiting, HDB flats offer more attractive downpayment options and financial schemes for singles aged 35 and above.

Co-Ownership (After 35):
Consider buying a condo with a co-owner (e.g., sibling or friend) who meets the eligibility criteria. This can help you pool resources and potentially qualify for a loan. However, co-ownership comes with its own set of considerations and legal agreements.

Rental Market:
While it might not be your ideal situation, renting an apartment in the short term can give you more time to save and build your credit history before considering buying a property.

Additional Considerations:

Financial Responsibility: Owning a property comes with ongoing costs like property tax, maintenance fees, and potential renovations. Ensure you can comfortably manage these expenses alongside your monthly loan repayments.
Here's some advice:

Budgeting: Create a detailed budget to understand your monthly expenses and how much you can realistically save towards a downpayment.
Research: Explore different property options (HDB vs condo) and understand the eligibility requirements and financial commitments involved. Read More

I am Sorry that This platform does not allow me to direct contact you.

To further assist you, please feel free to contact me via WhatsApp at 9856 9255  or through this link: https://wa.me/6598569255.

My services come with no obligations, and I'm here to help with any questions or assistance you need.

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: +65 9856 9255  or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT ：）

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

XXXXX The END XXXXXXX Read More

How long have u been working? You need at least 5% of the purchase price in cash with balance 20% made up of cash and CPF combined. Basing on your income and age, your max loan is around $460,000 thus your max purchase price will be at $560k range before considering other miscellaneous costs to be incurred for the purchase.

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Senior Division Associate Director
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
 +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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