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- Buying A House
...A Place To Call Your Own

Home ownership is about security, comfort, and fulfilling one's dream of having a place to call your own. The sense of community that comes with putting down roots in a place of your own, the security of having a roof over your head, the opportunity for financial growth -- all these come about because of one's decision to become a homeowner.
 
Buying a home may also be the single largest investment many Singaporeans will ever make in their lives. Hence, before you decide on buying that dream home, you need to consider the issues below and plan your finances carefully. Read "CPF Property Rules: 4 things you may not know" and "Things to look out for when buying a property using CPF" NEW!.
 

Remember these two key points before you commit to your dream home!

  • The more money you spend on housing, the less you will have for retirement. Generally, your total monthly debt payments (including your home loan) should not be more than 35% of gross monthly income (http://www.moneysense.gov.sg/ about/Consumer_Portal _MoneySENSE.html).

     
  • You should be aware that there are withdrawal limits on the use of CPF for housing. Once you reach the limits, you may have to pay the housing instalments fully in cash.
      What is your current financial situation?
    Should you buy an HDB flat or a private property?
    What are the criteria required to be able to use CPF savings to buy a home?
    What can CPF savings be used for?
    How much CPF can you use?
    What important factors should I be aware of when using CPF to repay a housing loan?
    When will CPF charges take effect?
    What happens when you sell?
    What happens if you divorce?
    What if I am a bankrupt?
    Other Considerations
    Moving forward
    Relevant Applications for Buying A House
     
    We recommend that you also read these educational articles.


    Buying A House
     Last Updated on: Thursday, August 28, 2008 at 9:10 PM
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