Honestly, I don't think you have the right finances to jump into a 1 bedroom condo at this moment.
Even for new launch, it will still require a 25% downpayment, of which you at this moment clearly do not have sufficient of. I won't suggest you to clean out your savings just to pay the deposit.
For progressive schedule, keep in mind also, these days the projects can go up really fast so the completion can be months ahead of schedule. And your loan can kick in faster than expected. Once the project TOP, usually you need to pay 6 month of maintenance during key collection plus surveyor fees and the property tax will kick in as well.
You still young and it's good to have a something to work towards. If you buying this as a single, I would suggest you at least have 50% of the property value in cash and CPF before u jump in. This is to ensure you can stay afloat even in any margin call situation or when increase rate goes too high, you have option to reduce total loan amount and use that to better manage the risk.
I have bought a unit for own stay with family too and we subscribe to same principles. Basically you must remember when it comes to private housing, even you buy for own stay you need to think like an investor. For example, what's the location u want? Why condo a and not condo b? Why unit 1 and not 2? Every unit is not perfect, so what's the cons of the one your picked? What's the exit strategy? What's your backup plan if market tanks or interest goes up? Know what you want and don't be influenced by price, because usually star buy units have something quite undesirable and when u have limited budget, you become easy prey for agent to push those to you.
Don't forget, if market really tanks, bank won't hesitate to call u one. They not your neighbors, just sharks.
