
I am writing to seek your advice on purchasing my first property, a condominium in Singapore. As a Singaporean Permanent Resident, I am currently 38 years old, and my spouse is a foreigner. Our monthly total household income is around $9,500, and we have a total of $130,000 in savings in the bank.
I also have $125,000 in my CPF OA account, with a monthly CPF contribution of $2,000. As I do not have any other loans, I believe I am able to get a mortgage loan of up to 75% of the property price.
I would like to seek your advice on what would be a suitable budget-friendly condo that I can afford, based on my financial situation. Can you provide me with an approximate price breakdown of the total amount I need to have on hand before purchasing a condo, including any hidden costs such as legal fees, valuation fees, and stamp duty?
I would also like to know if there are any tips or strategies that you can suggest to help me maximize my financial resources and ensure a smooth and successful purchase process.
Thank you very much!
