How much cash and amount in CPF (OA or SA) is required for resale HDB for a SPR married couple? - Seedly
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Asked on 04 Jun 2020

How much cash and amount in CPF (OA or SA) is required for resale HDB for a SPR married couple?

After spending the last 10 years here schooling, starting a career, establishing our social circles, etc., my spouse and I are ready to settle down in Singapore and purchase a resale flat.

How much upfront cash and CPF savings do we need combined and what are some financial traps we should look out for? I tried googling but not much info on financial planning!

Thanks all!


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Anson Chew
Anson Chew
Level 4. Prodigy
Updated 2w ago

Hi Anon,

I use an excel to help me with my planning. You have to consider:

Potential Cash Upfront:

  • Initial Downpayment (10% of resale price)

  • Application Fee

  • Option Fee

  • Buyer's Stamp Duty (Link Below)

  • Legal Fees (Link Below)

The Grants

  • Enhanced CPF Housing Grant

  • Family Grant

  • Proximity Housing Grant

Once you have the template setup, you can adjust the amount to use from your CPF OA.

Useful links for your calculations:

Buyer Stamp Duty -

Max. Housing Loan Est. -

Legal Fee Est. -​​​


👍 1
Level 2. Rookie
Answered 3w ago

4room resale $450k ~Maybe 30K Cash + 50K CPF in OA


👍 1

It really depends on your resale HDB value (which would be determined by many factors: size, location, remaining lease, amenities, distance to CBD, MRT station proximity etc)

Assuming your property value is $500k, your needed amount also depends on the type of loan you'll be taking on. Also, you'll need to ensure that your mortgage servicing ratio (loan repayment per month) must be within 30% of combined income.

HDB Loan (10% downpay, 90% borrow)

Downpayment $50k - cash or CPF

Stamp duty - $9,600 ($1,800 + $3,600 + $4,200)

Valuation + Legal + fire insurance fees = maybe about $200 in total or so

You'll need about = $60k+

Bank loan (25% downpay, 75% borrow)

Downpayment (20%)- $100k - cash or CPF

Downpayment (5%) - $25k - must be cash

(the rest of the costs should be roughly the same as taking a hdb loan)

You'll need about $110k CPF/ cash & $25k must be in cash

Don't forget the renovation costs which could range between $20k-$70k.


👍 0