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Old 11-09-2018, 05:35 PM   #15
kiatme
Senior Member
 
Join Date: Dec 2009
Posts: 559
Say $600K condo

$30,000 5% Cash
$120,000 20% Cash/CPF
$12,600 Stamp Duty Cash/CPF
$2,500 Legal Cash/CPF

Min
$30K Cash
$135,100 Cash/CPF

Assume interest @2.6% over 30yrs, Loan Amount $450K
Monthly Installment $1,800

Other substantial costs involved.... renovation and furniture. $20K-50K, say.

From above, you will need min $185K in both cash and CPF. Putting aside some emergency fund, you will need more than $200K.........So $20K + 25K is way too little.
have to factor in maintenance fee as well.. or even sinking fund (depending on age of condo) and you need to buffer at least 20k (cash or cpf) in case you change jobs.

payment for new launch is slightly different though
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