Buying a flat is a big financial commitment. Your cash and CPF savings need to be carefully managed, as well as secure financing through either HDB housing loan or housing loan from bank, if necessary.
Before committing to a flat, think through the following:
- What is your budget to purchase a flat?
- What are the other costs associated with flat purchase?
- What other financial commitments would you have?
- How do you keep the cost of your purchase low?
Better manage the financial planning for your resale flat purchase will help you to determine on the best suitable flat choices.
To work out a comprehensive financial plan, there are several financial considerations you need to take note: