2006-07-17 01:56:51 · 3 answers · asked by Larina 2 in Business & Finance ➔ Renting & Real Estate
Be realistic.
If you don't have the cash for a purchase, you should probably rent instead.
You can probably ask your family and friends for personal loans to scrounge up the money, but I think if at the point you can't put together the money together on your own, it's probably indication for you that you might not be able to afford it.
Perhaps you should speak to a financial planner to help you get your finances in order to meet your goal of owning property.
2006-07-17 04:47:02 · answer #1 · answered by domestic shopaholic 4 · 0⤊ 0⤋
Hi! First of all, do you possess a Singapore PR status? If you do, then it will not be a big problem if you would like to purchase a HDB flat. What you will need is a co-buyer who is either a Singapore Citizen for a PR holder who has settled down in Singapore for a considerable period of years and above 21 years old. As for you age, it is not a problem as you are above 21 years oof age. The next crucial thing will be either hard cash & CPF because you may require a combination of both in order to purchase a HDB. One thing is, only a Singapore citizen can buy a brand new HDB flat whilst PRs can only be eligible to buy if from the open market. However, if you are into buying a private property then your affordability will speak the loudest. It doesn't matter whether you are a PR or not. In that case, money will be the main factor. Alternatively, if you are not eligible to purchase a HDB flat and no means for the private property then you'll be left with the alternative to rent from property owners. In fact, it will be much more reliable to check it out with the HDB office for more sources of information and there are some amendments on the housing laws which took effect this year. Afterall, it's just but an enquiry and you have nothing to lose. Take a Singaporean friend with you, if any, so that he/she will be able to assist in a more detailed enquiry. Good Luck! Just a little sharing...
2006-07-17 13:56:48 · answer #2 · answered by lim g 2 · 0⤊ 0⤋
Normally, you need at least 10% cash & 10% CPF to buy a resale property if that property is sold at valuation price. The bank normally only financing 80% of valuation price. If the private property is sold above valuation price, you have to prepare additional money for the difference between sales price & valuation price. If you have not enough cash to buy a house, you can share with your best friend to buy a house or look for a cheap private property at around S$200K. If you need further information, you can email me.
2006-07-23 04:35:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋