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Understanding The Costs Of Buying A Home

Find out about the costs of buying a new or resale home in Singapore.
2.9 (15 ratings)
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3,848 students enrolled
Last updated 4/2014
  • 29 mins on-demand video
  • 2 Articles
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
To understand the costs involved in buying a home in Singapore
To understand the different types of Home Loans available in Singapore
View Curriculum
  • internet access
  • working knowledge of Singapore's Central Provident Fund (CPF)
  • access to various bank loan information in Singapore

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 is the target audience?
  • 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
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Curriculum For This Course
Expand All 13 Lectures Collapse All 13 Lectures 31:04
3 Lectures 04:49

In this lecture, we look at the objectives of the module. Take note that the contents of this e-learning module are applicable in the context of Singapore.

Introduction and Objectives

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

In this lecture, we consider the objectives in Buying A Home. Ideally, your home should be purchased more because of Needs than of Wants.

Watch the video that can be found here: http://www.cpf.gov.sg/multimedia/videosite/detail_12.html

Understanding Your Objectives In Buying A Home
Understanding The Costs Of Buying A Home
8 Lectures 24:31

In this lecture, we consider the upfront costs of buying a home. Upfront cost include the downpayment, option fee, stamp duty, legal fees, cash over valuation and commissions.

Upfront Costs Of Buying A Home

In this lecture, we consider the Recurring Costs of home loans. We will also look at the Type Of Home Loans and the Reference Rates of loans.

Home Loans

In this lecture, we look at a sample Property Loan Fact Sheet and where you can find the following: Amount and Tenure, Lock-in period, Interest Rate Schedule, Repayment Schedule, Estimated Total Repayment, Rate Change Illustration, Effective Interest Rate and Penalty Fees.

Property Loan Fact Sheet

In this lecture, we look at the issues of refinancing, defaulting on your loan and your loan quantum.

Refinancing, Defaulting and Loan Quantum

In this lecture, we look at details of the Maximum HDB Loan that you can obtain. Also included in this lecture is a personal activity and example.

Maximum HDB Loan

In this lecture, we look at details of the Maximum Bank Loan that you can obtain.

Maximum Bank Loan

In this lecture, we consider what happens to a loan when the borrower dies. This is a sobering but necessary question.

What If The Borrower Dies?

In this lecture, we consider further recurring costs of your home including Mortgage Insurance, Fire Insurance, Maintenance and Conservancy Changes, Utility Bills and Property Tax.

Other Recurring Costs
2 Lectures 01:14

This lecture summarizes the content covered in this module.


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

Additional Resources

Are you a smart home buyer?

Buying A Home Quiz
5 questions
About the Instructor
3.8 Average rating
742 Reviews
30,924 Students
13 Courses
Financial Literacy Trainer

Peggy Chan, Financial Literacy Trainer, Institute for Financial Literacy


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.

3.8 Average rating
1,112 Reviews
43,161 Students
23 Courses
Unbiased Financial Education Courses

The MoneySENSE-Singapore Polytechnic Institute for Financial Literacy is a collaboration between MoneySENSE, the national financial education programme in Singapore and Singapore Polytechnic.

MoneySENSE is spearheaded by the public-sector Financial Education Steering Committee which comprises representatives from the Ministry of Health, Ministry of Social and Family Development, Ministry of Education, Ministry of Manpower, Central Provident Fund Board, Monetary Authority of Singapore, National Library Board and People’s Association.

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

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