Understanding The Costs Of Buying A Home

Find out about the costs of buying a new or resale home in Singapore.
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  • Lectures 13
  • Length 31 mins
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 4/2014 English

Course 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.

What are the requirements?

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

What am I going to get from this course?

  • To understand the costs involved in buying a home in Singapore
  • To understand the different types of Home Loans available in Singapore

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

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: Introduction

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.


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

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

Section 2: Understanding The Costs Of Buying A Home

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.


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.


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.


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


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


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


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.

Section 3: Conclusion

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.

5 questions

Are you a smart home buyer?

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Instructor Biography

Peggy Chan, 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.

Instructor Biography

Institute for Financial Literacy, 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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