First Home Buyer Guide in Singapore 2026

Your First Home in Singapore — Where to Start

Buying your first home in Singapore is one of the biggest financial decisions you will make. The process can feel overwhelming, but breaking it down into clear steps makes it manageable. This guide covers everything from saving your deposit to collecting the keys.

Saving for Your Deposit

Most lenders in Singapore require a deposit of 25% (5% cash + 20% CPF) of the property price. The more you save, the better your loan terms and the less you pay in additional costs.

Maximise CPF Ordinary Account contributions — this is your primary source for both deposit and monthly payments. For BTO, ballot early and frequently for the best location choices. Build additional cash savings for the 5% minimum cash component and renovation costs

Government Support for First-Time Buyers

CPF Housing Grants provide up to $80,000 for eligible first-time HDB resale buyers. BTO flats are heavily subsidised at 20-30% below market. CPF OA savings and contributions can be used for deposits and monthly payments. The Step-Up grant provides $15,000 for second-timer families. Combined, government support makes Singapore one of the most accessible markets for citizens

Check our government grants guide for the full list of current programmes and eligibility requirements.

Getting Pre-Approved for a Mortgage

Pre-approval tells you exactly how much you can borrow and shows sellers you are a serious buyer. In Singapore, the process works as follows.

For HDB: apply through the HDB portal during BTO or resale application windows. For bank loans: get In-Principle Approval (IPA) from DBS, OCBC, or UOB. Compare HDB concessionary loan (2.6% fixed, no lock-in) versus bank loans (lower rate but lock-in and rate risk)

Use our mortgage calculator to model different scenarios before applying. Read our mortgage types guide to understand which loan product suits your situation.

Understanding the Full Cost of Buying

The purchase price is just the beginning. Budget for additional costs that can add significantly to your total outlay.

BSD (Buyer’s Stamp Duty) of 1-6% on the property value. Read our buying costs guide for a complete breakdown of every expense.

Common First-Time Buyer Mistakes

Not understanding the CPF accrued interest rule (amounts withdrawn from CPF must be refunded with 2.5% interest when the property is sold), not comparing HDB loan versus bank loan properly, overstretching with a bank loan when HDB loan is more suitable, and not factoring in the cash-over-valuation (COV) for resale HDB purchases

Avoid these pitfalls by taking your time, doing thorough research, and leaning on qualified professionals throughout the process. Our property inspection checklist covers what to check before committing.

Your Step-by-Step Timeline

The typical first home purchase follows these stages: establish your budget and savings target, explore government support options, get pre-approved for financing, search for the right property, make an offer, complete legal due diligence and inspections, and finalise settlement.

Our property buying guide walks through each stage in detail, and our mortgage guide covers everything about financing.

Next Steps

Ready to start? Use our mortgage calculator to see what you can afford, browse Singapore FAQs for quick answers, or explore our full property buying guide.