Purchasing a private condominium in Singapore involves more than just paying the purchase price. Many buyers considering premium developments such as Dunearn House Condo often focus on the down payment but overlook the additional expenses involved. These extra costs can significantly impact your overall budget and should be carefully planned before making a commitment.
If you are exploring upscale developments like Dunearn House Condo, understanding all hidden and recurring costs ensures you are financially prepared beyond the initial payment.
BSD is mandatory for all property buyers in Singapore. It is calculated progressively based on the property purchase price.
For a SGD 2 million condo, BSD alone can exceed SGD 60,000 depending on current tax tiers.
ABSD applies depending on your citizenship status and number of properties owned. Foreign buyers and those purchasing second properties face higher ABSD rates.
Hiring a lawyer is compulsory for property transactions. Legal fees typically range from SGD 2,500 to SGD 4,000 depending on complexity.
Banks charge valuation fees and administrative costs when processing your mortgage loan. These fees may range from several hundred to a few thousand dollars.
Condo owners must pay monthly maintenance charges to cover facilities such as swimming pools, gyms, security, landscaping, and cleaning services.
| Unit Type | Estimated Monthly Maintenance |
|---|---|
| 1–2 Bedroom | SGD 250 – 400 |
| 3 Bedroom | SGD 350 – 500 |
| Penthouse / Larger Units | SGD 500+ |
Property tax is payable annually and differs based on whether the unit is owner-occupied or rented out.
Even new launch condos may require interior upgrades such as built-in wardrobes, lighting, and kitchen fittings. Renovation costs can range from SGD 30,000 to SGD 100,000 depending on design choices.
Fire insurance is mandatory when taking a bank loan. Home content insurance is optional but recommended for added protection.
Many first-time buyers underestimate these expenses and focus only on the 25% down payment. However, proper budgeting ensures a smoother purchase experience and prevents financial stress after completion.
Buying a condo in Singapore requires careful consideration of both upfront and recurring costs. Stamp duties, legal fees, maintenance charges, and renovation expenses should all be included in your financial plan.
Before committing, consult a licensed property advisor and mortgage specialist to obtain a full breakdown of your expected expenses.