Budgeting For A Home Within Your Means
4.0 (25 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
5,054 students enrolled

Budgeting For A Home Within Your Means

Calculate the costs of a buying a home and assess your own resources before finally deciding on a appropriate home.
4.0 (25 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
5,054 students enrolled
Last updated 8/2018
English
English [Auto-generated]
Price: Free
This course includes
  • 41 mins on-demand video
  • 2 articles
  • 6 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What you'll learn
  • to help you calculate the costs of buying a home in Singapore
  • to help you assess your own resources and to know how much you can afford

  • to help you decide on an appropriate home that you can afford

Requirements
  • working knowledge of Singapore CPF Scheme
  • completed Understanding The Costs Of Buying A Home
Description

This course is a continuation from a previous course untitled Understanding The Costs Of Buying A Home.

We will be looking at how to calculate the costs of buying a home in Singapore. This includes:

  • Options Fees
  • LTV Limit & Downpayment
  • Buyer's Stamp Duty
  • Mortgage Stamp Duty
  • Disbursement of Loan

After that, you will learn how to assess your own resources to know how much you can afford:

  • Using your Sales Proceeds
  • CPF Ordinary Account
  • CPF Housing Withdrawal Limits
  • Buying A Second Property
  • Maximum CPF that can be used

Finally, we will see how to decide on a appropriate home that you can afford.

Who this course is for:
  • working adults
  • aspiring home owners
  • newly weds
  • Singaporeans
  • Singapore Permanent Residents
  • anyone interested in Singapore's public housing scheme
Course content
Expand all 19 lectures 42:42
+ Introduction
2 lectures 02:49

This lecture introduces this e-learning module on budgeting for a home within your means.

Please complete the previous module entitled Understanding The Costs Of Buying A Home before going through the contents of this module.

Objectives and Introduction
01:16

In this Lecture, find out more about MoneySENSE's core financial capabilities:

  • Understanding Money
  • Understanding yourself, your rights and responsibilities
  • Managing everyday money
  • Planning ahead
  • Selecting financial products
MoneySENSE Core Financial Capabilities Framework
01:33
+ Calculating The Costs Involved In Buying A Home
6 lectures 16:51

This lecture contains details about Option Fees and about Booking A Property.

  • Option Fee for a New Property
  • Option Fee for Resale Property
  • HDB Loan Eligibility Letter (HLE)
  • In Principal Approval (IPA) Letter from a bank
  • Option To Purchase (OTP)
Option Fees and Booking A Property
04:13

This lecture contains details about the Loan-To-Value (LTV) Limit & Downpayment for HDB Loans:

  • Build-To-Order Flats (BTO)
  • Design, Build and Sell Scheme (DBSS)

And also for a Bank Loan:

  • 1st Housing Loan
  • 2nd Housing Loan
  • 3rd Housing Loan
LTV Limit & Downpayment
02:17

This lecture contains details about the Buyer's Stamp Duty (BSD) and Additional Buyer's Stamp Duty (ABSD) rates.

Buyer's Stamp Duty
03:02

This lecture contains details about Mortgage Stamp Duty and the Disbursement Of Loan.

Mortgage Stamp Duty and Disbursement Of Loan
01:01

A Case Study is presented here for Mr and Mrs Ramly who intend to buy a 4-room HDB resale flat in Singapore.

Case Study: Estimated Upfront Costs
02:52

This lecture contains an Activity for you to estimate the upfront costs of buying a HDB flat in Singapore.

Activity: Estimating Upfront and Recurring Costs
03:26
+ Assessing Your Resources and How Much You Can Afford
7 lectures 12:47

This lecture will help you assess your current resources to see if you can afford the costs involved in buying a home in Singapore.

Assessing Your Resources
01:43

This lecture describes how to use Sales Proceeds from your previous home to finance a new purchase.

Using Sales Proceeds
01:58

This lecture describes how your CPF Ordinary Account may be used for initial down payments as well as monthly instalments.

Your CPF Ordinary Account
03:08

This lecture describes how the CPF Housing Withdrawal Limits Calculator can be used.

The calculator is available online through the following URL http://www.cpf.gov.sg/cpf_info/calculator/vl/vl_input.asp?prof

Example: CPF Housing Withdrawal Limits Calculator
02:09

This lecture contains details about using your CPF for purchasing a 2nd property onwards in Singapore. It also details what happens after you are 55.

Using CPF For 2nd Property Onwards
00:31

Here we look at what happens after age 55 regarding using CPF for our housing loan.

What Happens from Age 55
01:36

This lecture contains an example what would happen if a 4-room resale flat has just less than 60 years of lease remaining.

Example: Maximum CPF That Can Be Used
01:42
+ Conclusion
4 lectures 09:48

In this video, we look at what we should take note of when engaging the services of a real estate salesperson.

Engaging the services of a real estate salesperson
01:28

Bob has to make a difficult decision that will change his life forever. Find out how he learns to buy a house within his means and much more...

This video was downloaded from http://www.youtube.com/watch?v=wBR7ilh1dnU&list=PLPQXfbBXFMvxXoT3xo4IGMKRwLThg9lUU

How do I buy a house I can afford? - Video from CPF
07:32

This lecture summarises and concludes this e-learning module.

Conclusion
00:17

This lecture contains links to additional resources where you can learn more about money matters pertaining specially to Singaporeans.

Additional Resources
00:31