Parc Botannia is already 97% SOLD. There's only 20 units remaining before the development is FULLY SOLD OUT!
Welcome to Parc Botannia, where a new wave of living awaits you. It is being jointly developed by Sing Holdings Limited and Wee Hur Holding LTD. When it is completed in the year 2021, it will have four 22-storey residential blocks with 1 childcare centre comprising of 735 apartments.
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Parc Botannia is already 97% SOLD. There's only 20 units remaining before the development is FULLY SOLD OUT! Buyers are usually surprised that there are only so few units remaining in spite of its T.O.P. being end 2021. So to put in perspective, there's easily another 24 months left. Although Parc Botannia has unit types ranging from 1 bedroom to 5 bedrooms, there's only 2 and 3 bedroom unit types remaining. 1, 4 and 5 bedrooms unit types are 100% FULLY SOLD.
Developments that are reasonably priced, with good & well-thought out furnishings and fittings, in a good neighbourhood and with potential for future price appreciation, are selling well.
* 2 bedroom unit type - 19 units remaining. Prices from $946k onwards.
* 3 bedroom unit type - Only 1 unit remaining! Prices from $1,421 mil onwards.
On most buyers’ mind, usually there are a few questions.
1. What is our initial cash outlay?
2. What will be the monthly mortgage repayment amount?
3. Can I/we afford it based on my/our salary?
Let’s do some calculations based on the 2 bedroom unit type above.
Before we proceed with the calculations, a few assumptions have to be made.
* This purchase will be your FIRST property.
* You are a Singapore citizen.
* The Loan-to-Valuation (LTV) is 75%.
* The loan tenure is 30 years.
Based on the above 2 Bedroom unit type price @ $946k, your initial outlay will be
* 5% - $47,300 (Cash only, upon Booking)
* 15% - $141,900 (Cash or CPF or both, Within 8 weeks of Booking)
* Stamp Duty (3%) - $22,980* (Cash or CPF)
* ABSD - Not Applicable as it is your 1st property
* Legal Fees - $2.5k - $3.0k
*For properties below $1mil and below, a rule of thumb, Stamp Duty payable is 3%. For properties above $1mil, Stamp Duty payable is 4%.
If you have sufficient funds available based on the calculation above, you are 50% towards having your 1st home or property.
So we have answered the initial outlay issue. Next, we will answer Questions 2 & 3. What is the monthly mortgage repayment amount and can my/our salary afford it?
Based on a 75% LTV, meaning the bank will loan you up to 75% of the purchase price, that is $709,500. For 30 years loan tenure @ 3.5% interest (based on MAS TDSR guidelines), the monthly mortgage payment works out to around $3,186. Do note that Interest @ 3.5% is a standard MAS guideline while the current, actual interest rate is much lower than 3.5%. Hence, the actual monthly mortgage payment is much lesser than $3,186.
However, to be able to grant you a loan of $709,500, banks would have to determine that your monthly salary satisfy MAS TDSR requirements. Next, we derived the monthly salary based on $3,186 and the minimum salary amount would be $5,310.
Does your/combined monthly salary exceeds $5,310? Yes! Congratulations, you are 90% towards owning your 1st property!
Why not 100%? Next, you have to make an appointment with me now. Make the move now and I will show you in detail, what is awaiting for you and your family. You can WhatsApp or SMS me @ 938 572 83.