Upgrade Financial Clarity Report
A structured upgrade planning report comparing resale private condo, private new launch, and EC new launch from a funding, cash-flow, timeline, eligibility, and family-comfort perspective.
Prepared by Connie Tan | ERA Realty Network P/L | CEA Reg. R059037E | HP 9272 5986
Working Assumptions
Income and Loan Inputs
CPF Inputs
Property and Sale Inputs
Copy / Comment Inputs
Executive Snapshot
Working assumption before final market review.
CPF returned from existing HDB sale.
CPF already available before sale refund.
Existing CPF OA + CPF refund from sale.
Before rental, renovation, moving and emergency buffer.
Total CPF after sale + estimated net cash proceeds.
Provisional Route View
Resale Private Condo
Private New Launch
EC New Launch
Advisory Interpretation
Advisory Interpretation
Route Snapshot
Resale Private Condo
Loan: $0
Loan percentage used: 0%
Best for: faster move-in and clearer physical inspection.
Private New Launch
Loan: $0
Loan percentage used: 0%
Best for: staged payment and longer planning runway.
EC New Launch
Loan: $0
Loan percentage used: 0%
EC bridging loan: Est. $0
Best for: lower entry price, subject to eligibility and MSR.
A. What Needs To Be Ready Early
5%: $0 (Cash)
Legal: $0 (Cash First)
BSD: $0 (Cash First)
Remaining Payment: $0
Cash: $0 | CPF: $0
Legal fee and BSD paid in cash first may be reimbursed from CPF upon completion,
subject to CPF usage, CPF rules and process.
Booking 5%: $0 (Cash)
Legal: $0 (CPF)
BSD: $0 (CPF)
15% Downpayment:
• Option 1: $0 Cash | $0 CPF
• Option 2, COH Extension: $0 Cash | $0 CPF
• Option 3, Request for EOT: $0 Cash | $0 CPF
Booking 5%: $0 (Cash)
Legal: $0 (CPF)
BSD: $0 (CPF)
15% Downpayment: $0 (Cash)
CPF may be usable for part of the 15% downpayment subject to earmarking, CPF availability,
timing and CPF rules, but this report treats it conservatively, using cash for early planning.
Detailed Timeline & Existing Property Sale Timing
View Detailed Timeline
| Timing | Resale Private | Private New Launch | EC New Launch |
|---|---|---|---|
| Projected Price | $0 | $0 | $0 |
| Week 1 |
1% option fee: $0 (Cash) Ensure option is exercised for existing property. |
5% booking fee: $0 (Cash) |
5% booking fee: $0 (Cash) |
| Week 2 |
4% exercise fee: $0 (Cash) Legal: $0 (Cash First) Prepare BSD. |
Ensure option is exercised for existing property. |
Ensure option is exercised for existing property. To note, wait for HDB approval. Progressive payment planning continues. |
| Week 3 | — |
Sign S&P. Legal: $0 (CPF) Prepare BSD. |
Sign S&P. Legal: $0 (CPF) Prepare BSD. |
| Week 4 |
Pay BSD: $0 (Cash First) |
— | — |
| Week 5 | — |
Pay BSD: $0 (CPF) |
Pay BSD: $0 (CPF) |
| Week 8 | — |
15% downpayment: $0 Option 1: $0 Cash | $0 CPF Option 2/3: $0 Cash | $0 CPF |
15% downpayment: $0 (Cash) Conservatively planned as cash. |
| Week 12 |
Collect Keys Remaining Payment: $0 Cash: $0 | CPF: $0 |
— | — |
| Week 13 / Until TOP | Monthly mortgage starts. |
Progressive payment starts when foundation stage is called. Remaining Downpayment $0 (CPF) |
NPS: Progressive payment starts when foundation stage is called. Remaining Downpayment $0 (CPF) and $0 (Cash) DPS: No payment until TOP |
| TOP | — | Collect Keys |
Collect Keys NPS: - DPS: Remaining Downpayment $0 (CPF) and $0 (Cash) |
| Remarks | Reno: $0, subject to condition. | Rental while waiting for TOP: $0. | Rental while waiting for TOP: $0. EC resale levy needs to be ready upon sale of existing HDB. |
B. Final Funding Position After Sale Proceeds
Layer 1: Purchase Funding Position
| Item | Resale Private | Private New Launch | EC New Launch |
|---|---|---|---|
| Purchase price | $0 | $0 | $0 |
| Loan used | $0 | $0 | $0 |
| BSD | $0 | $0 | $0 |
| Legal | $0 | $0 | $0 |
| EC resale levy | — | — | $0 assumed |
| Gross purchase funds needed | $0 | $0 | $0 |
| Total CPF + net cash after sale | $0 | $0 | $0 |
| Add. funds / surplus before personal savings | $0 | $0 | $0 |
Layer 2: Lifestyle / Transition Buffer
| Buffer Item | Resale Private | Private New Launch | EC New Launch |
|---|---|---|---|
| Rental | Usually lower if move-in timing is managed. | $0 estimated | $0 estimated |
| Reno | $0 estimated | Set aside closer to TOP. | Set aside closer to TOP. |
| Moving / Misc | $0 estimated | $0 estimated | $0 estimated |
| Emergency Buffer | $0 suggested | $0 suggested | $0 suggested |
| Total transition buffer to consider | $0 | $0 | $0 |
Existing HDB Sale Position
To review before marketing.
Existing HDB loan.
Eric + Trislyn CPF refund from sale.
Before selling costs.
View Sale Proceeds Calculation
| Sale Proceeds Calculation | Amount |
|---|---|
| Assumed HDB selling price | $0 |
| Less outstanding HDB loan | ($0) |
| Less CPF refund — Trislyn CPF returned to OA after sale, subject to confirmation. | ($0) |
| Less CPF refund — Eric CPF returned to OA after sale, subject to confirmation. | ($0) |
| Estimated gross cash proceeds Before selling costs. | $0 |
| Less selling agent fee | ($0) |
| Less GST on agent fee | ($0) |
| Less estimated legal fee | ($0) |
| Estimated net cash proceeds after sale costs | $0 |
| Existing CPF OA before sale | $0 |
| CPF refund from sale returned to OA | $0 |
| Total CPF available after sale | $0 |
| Total CPF + net cash after sale | $0 |
Income and Loan Capacity Snapshot
Private Condo TDSR Capacity
Estimated after haircut on variable income and less existing car loans.
EC MSR Capacity
Estimated 30% of assessable income. This is likely the tighter test for EC.
Estimated Loan Based On Stress-Test Rate
Private TDSR-based loan / EC MSR-based loan before LTV cap.
Planning Tenure
Eric
Age affects loan tenure and approval conditions.
Trislyn
Final tenure subject to bank assessment.
Planning Tenure
Used for mortgage comparison in this report.
View Income and Loan Capacity Working
| Income / Commitment | Gross | Haircut | Assessable |
|---|---|---|---|
| Eric fixed income | $0 | 0% | $0 |
| Eric variable income | $0 | 30% | $0 |
| Eric assessable income | — | — | $0 |
| Trislyn fixed income | $0 | 0% | $0 |
| Trislyn variable income | $0 | 30% | $0 |
| Trislyn assessable income | — | — | $0 |
| Total assessable income before car loan | — | — | $0 |
| Existing car loan under Eric | ($0) | Debt | Deducted under TDSR |
| Existing car loan under Trislyn | ($0) | Debt | Deducted under TDSR |
Estimated Monthly Mortgage
| Rate / Loan | Resale Pte | Pte New Launch | EC NPS | EC DPS |
|---|---|---|---|---|
| Est. Loan | $0 | $0 | $0 | $0 |
| 2% | $0 | $0 | $0 | $0 |
| 3% | $0 | $0 | $0 | $0 |
| Stress-Test Rate (4%) | $0 | $0 | $0 | $0 |
Cash, Timeline, Flexibility and Eligibility View
| Decision Factor | Resale Private | Private New Launch | EC New Launch |
|---|---|---|---|
| Cash pressure | High and faster | High, but staged | Lower price, but resale levy applies |
| Monthly pressure | Starts after completion | Starts lower, increases progressively | MSR may restrict loan |
| Timeline ease | Fastest move-in | Need interim accommodation | Need interim accommodation |
| Eligibility check | Lowest complexity | Lower complexity | EC rules, MSR, income ceiling and ownership rules apply |
| Flexibility | Higher | Medium | Lower due to EC conditions / MOP |
| Asset appreciation angle | Depends on entry price, age, location and exit demand | Brand-new product, fresh lease and first-owner positioning | Attractive entry price, subject to eligibility and holding conditions |
| Current fit | Possible if IPA and cash position work | Possible if downpayment and waiting period are managed | Attractive only if eligibility, MSR and resale levy work |
Next Step
What To Confirm Before Deciding
Confirm max loan, monthly instalment, tenure and whether car loan affects approval.
Verify existing CPF OA, CPF refund, accrued interest and usable OA for next purchase.
Review $740,000 assumption before marketing and reduce uncertainty from HDB resale market conditions.
Confirm income ceiling, family nucleus, ownership status, resale levy and project-specific conditions.
Check whether EC loan is restricted below the required amount.
Confirm whether staying with family is possible or budget rental while waiting for TOP.
For resale private, set aside a realistic renovation / furnishing buffer based on unit condition.
Keep sufficient cash after downpayment, BSD, moving and transition costs.
Plan HDB sale option / exercise / completion timing with the next purchase timeline.
Shortlist only the routes that remain workable after cash, CPF, loan and timeline verification.