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Buying · 5 min read
How Much Cash Do I Need to Buy a Condo?
Beyond the downpayment, there are several cash line items buyers routinely underestimate.
The purchase price is only part of the picture.
The downpayment split A portion of the downpayment must be paid in cash, with the balance payable in cash or CPF depending on your loan-to-value position.
Stamp duty Buyer's Stamp Duty applies on every residential purchase. Additional Buyer's Stamp Duty may apply depending on your residency status and how many residential properties you already own.
The smaller items Legal fees, valuation, agent-related costs where applicable, and renovation or furnishing.
A sensible buffer Keep reserves beyond the purchase. A property plan that leaves nothing behind is fragile.
The BSD and ABSD calculator gives an indicative figure. Verify against the latest IRAS rates before committing.
Run your own numbers
Reading is a start — the useful part is applying it to your own figures.