{"id":7011,"date":"2023-04-14T13:02:56","date_gmt":"2023-04-14T05:02:56","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=7011"},"modified":"2025-05-01T13:57:30","modified_gmt":"2025-05-01T05:57:30","slug":"condo-payment-schedule","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/condo-payment-schedule\/","title":{"rendered":"Navigate your condo payment schedule like a pro: A step-by-step guide"},"content":{"rendered":"
<\/div>\r\n

The most unappealing part of buying a condo\u00a0is not when you stand in snaking queues in\u00a0<\/span>show flats<\/a>.<\/span>\u00a0Rather, it is realising that you have to pay<\/em> for the property which usually takes the thrill out of the whole affair.<\/p>\r\n\r\n\r\n\r\n

That is why you should know all about the condo payment schedule before you enjoy the home-hunting experience. Let this article help you with all the important deets!<\/p>\r\n\r\n\r\n\r\n

\r\n

Table of contents<\/h2>\r\n
    \r\n
  • New launch vs resale condos: The differences<\/a><\/li>\r\n
  • Condo payment schedule of uncompleted developments (new launch condo)\u00a0<\/a>\r\n
      \r\n
    • What is the monthly instalment for a new launch condo?<\/a><\/li>\r\n<\/ul>\r\n<\/li>\r\n
    • Condo payment schedule for completed developments<\/a>\r\n
        \r\n
      • What is the monthly instalment for a resale condo?<\/a><\/li>\r\n<\/ul>\r\n<\/li>\r\n
      • Other costs and fees related to buying a condo<\/a><\/li>\r\n
      • Financing your condo purchase<\/a><\/li>\r\n
      • Frequently Asked Questions (FAQs)<\/a><\/li>\r\n<\/ul>\r\n<\/div>\r\n\r\n\r\n\r\n

        New launch vs resale condos: The key differences<\/h2>\r\n\r\n\r\n\r\n

        Buying a condo unit typically falls into either of two categories:<\/p>\r\n\r\n\r\n\r\n

          \r\n
        • Buying a unit in a completed<\/strong> development. This is usually a resale<\/a>\u00a0or an unsold unit directly from a developer, such as Clover By The Park<\/a>, Sky Habitat<\/a>, and Thomson Grand<\/a>.<\/li>\r\n\r\n\r\n\r\n
        • Buying a unit in an uncompleted<\/strong> development, a building under construction (BUC)<\/a>. This is usually a new launch condo<\/a> unit, like SORA<\/a> and The Hillshore<\/a>, bought directly from the developer, but can also be a sub-sale from a buyer.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n\r\n\r\n

          There are\u00a0various factors<\/a> that might push you towards one. For example, you might not wait three-plus years for your unit to be constructed, or <\/span>purchase a unit in a development that is already been completed (and can be inspected with your own eyes). The thing is that while the condo payment schedules for the two types are not vastly different from each other, there are differences you should know.<\/p>\r\n\r\n\r\n\r\n

          \"Seller<\/a><\/figure>\r\n\r\n\r\n\r\n

          Condo payment schedule of uncompleted developments (new launch condo)\u00a0<\/b><\/h2>\r\n\r\n\r\n\r\n

          Let\u2019s take the example of the newlywed couple Eddie and Alexandra, both Singapore citizens with a combined income of S$14,000\/month and a CPF balance of S$60,000.<\/p>\r\n\r\n\r\n\r\n

          They are interested in purchasing a unit in a recent development that has yet to start construction at S$1,500,000. To help process their transaction, they have engaged private legal counsel who have agreed to charge S$3,500 for the entire purchase and have received their valuation<\/a> report at S$350.<\/p>\r\n\r\n\r\n\r\n