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Buyers' Guide & FAQ

Property Buying and Upgrading Checklist

For current homeowners planning to purchase their next dream home in Singapore

1 | Financial Planning & Preparation

  1. Assess total funds available (cash, CPF OA, and sale proceeds from current property).
     

  2. Check loan eligibility with a banker or mortgage broker — consider TDSR and LTV limits.
     

  3. Review outstanding home loan and plan timing for full redemption or discharge.
     

  4. Understand the Additional Buyer’s Stamp Duty (ABSD) and how to avoid or minimize it.
     

  5. Include renovation, legal fees, and moving costs in your budget.
     

  6. Decide if you need a bridging loan to cover short-term cashflow gap.

Image by Scott Graham
2 | Property Search & Shortlisting

  1. Identify your purpose — own stay, upgrading, or right-sizing.
     

  2. List must-have features: location, schools, transport, facilities, layout, facing, etc.
     

  3. Compare new launches vs resale projects (price, size, completion date, maintenance fees).
     

  4. Check developer reputation or condo management quality.
     

  5. View shortlisted units physically to assess ventilation, noise, and light conditions.

Image by Katja Rooke
3 | Selling-to-Buy Timeline for Planning

  1. Decide whether to sell first or buy first — understand pros & cons with your agent.
     

  2. Coordinate sale completion with your next purchase timeline to avoid overlap.
     

  3. If buying first, secure approval for bridging or temporary financing.
     

  4. Request an extension of stay from buyer if you need time before moving into your next property.
     

  5. Plan temporary accommodation or interim rental if required.

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4 | Purchase Process

  1. Engage a trusted property agent for negotiation and market insights.
     

  2. Obtain an In-Principle Approval (IPA) from the bank before making an offer.
     

  3. Negotiate price and terms before issuing Option to Purchase (OTP).
     

  4. Pay the option fee (usually 1%) and exercise within the validity period.
     

  5. Appoint a conveyancing lawyer to handle completion and legal paperwork.
     

  6. Pay Buyer’s Stamp Duty (BSD) and ABSD (if applicable) within 14 days of exercising OTP.

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5 | Completion & Transition

  1. Coordinate your current sale’s completion date with new purchase completion.
     

  2. Ensure funds are ready for downpayment and completion fees.
     

  3. Inspect new property condition before key collection.
     

  4. Confirm housing loan disbursement and CPF usage with your lawyer and bank.
     

  5. Plan renovation timeline and moving schedule carefully.
     

  6. Transfer utilities, broadband, and address details before moving in.

Image by Maria Ziegler
Frequently Asked Questions

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