Understanding The Costs Of Buying A Home

Find out about the costs of buying a new or resale home in Singapore.
Rating: 4.3 out of 5 (42 ratings)
5,117 students
English
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To understand the costs involved in buying a home in Singapore
To understand the different types of Home Loans available in Singapore

Requirements

  • internet access
  • working knowledge of Singapore's Central Provident Fund (CPF)
  • access to various bank loan information in Singapore

Description

The home that you buy should satisfy your family members' and your present needs as well as future needs. In this e-learning module, we will consider the costs involved in buying a home in Singapore.

The Costs Involved For A New Property include:

  • Option Fee
  • Down payment
  • Legal fees
  • Stamp Duty/Fee

The Costs Involved For A Resale Property include:

  • Cash-Over-Valuation (COV)
  • Valuation Fee
  • Agent Commission

We will also look at the concept of a Home Loan and Types Of Home Loans.

Next, we will look at the Residential Property Loan Fact Sheet, Refinancing the home loan, Defaulting on your loan and your Loan Quantum.

The Maximum Loan Quantum for an HDB loan and Bank Loan will also be considered.

In our next E-Learning module, we will consider the detailed steps in calculating the costs involved in buying a home, assessing your resources and how much you can afford and finally how to decide on an appropriate home.

Who this course is for:

  • working adults
  • those in Singapore who are looking to buy a home
  • those who are interested in the Singapore housing system
  • newly weds
  • those planning to start a family

Course content

3 sections13 lectures31m total length
  • Introduction and Objectives
    01:16
  • MoneySENSE Core Financial Capabilities Framework
    01:33
  • Understanding Your Objectives In Buying A Home
    02:00

Instructors

Financial Literacy Trainer
Peggy Chan
  • 4.3 Instructor Rating
  • 7,509 Reviews
  • 95,340 Students
  • 14 Courses

Peggy Chan, Financial Literacy Trainer, Institute for Financial Literacy

MSc, CFP

Peggy has 8 years of experience in the financial services industry, helping clients understand their financial needs, objectives and risk tolerance as well as reviewing company policies and procedures to ensure compliance. She was also an adjunct lecturer with a Polytechnic, teaching insurance and retirement planning subjects.

Prior to joining the financial services sector, Peggy was working in the information technology sector for 13 years, first in a government agency and subsequently served as a Senior Systems Analyst in an international bank.

She is a Certified Financial Planner, which is a professional certification specific to retirement planning and wealth accumulation in addition to overall financial planning.

Peggy has a Masters of Science, majoring in Network Management. She also holds other industry certification in M5, M8, M8A, M9 and HI.

Unbiased Financial Education Courses
Institute for Financial Literacy
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  The Institute for Financial Literacy is a collaboration between MoneySense and Singapore Polytechnic Enterprise. 

    Our financial education courses cover basic money management, financial planning and investment know-how.