Your Dream Home Awaits: Demystifying the New Launch Payment Timeline

Those stunning showflats and floor plans have you dreaming, don’t they? Buying a new launch is an exciting decision, but it’s natural to wonder about the practical side: "How does the payment actually work?"

The beauty of a new launch is that you don't pay for everything at once. The cost is spread out over the construction period, which is fantastic for managing your finances. Think of it as a marathon with checkpoints. Let me be your guide and map out this timeline for you, so you can feel confident and prepared every step of the way.

Your Payment Roadmap: Simple and Clear

The entire process, from your first payment to getting your keys, typically takes 3 to 4 years. Here’s a simple breakdown of what you pay and when.

Milestone	What's Happening	Payment Due at This Stage	Total Paid So Far
Booking Fee	You secure your chosen unit.	5% (in cash)	5%
Signing Agreement	You formally sign the purchase documents.	15% (Can use CPF)	20%
During Construction	The condo is being built. Payments are made as each building stage is completed.	65% (Paid in small parts)	85%
Collecting Keys (TOP)	The building is ready! You can now move in.	(Part of the 65% above)	85%
Final Completion (CSC)	Every single detail of the project is 100% finished.	15% (The final payment)	100%

Key Takeaway: By the time you collect your keys at TOP, you will have paid 85% of the price. The last 15% is paid only after everything is completely finished, which is a great form of protection for you as the buyer.

What This Means For Your Plans

Let’s make this real. Imagine you’ve bought a $1.5 million apartment.

• At the Start: You’ll need $75,000 in cash for the initial booking.

• Soon After: At the signing, a further $225,000 is due. This can come from your CPF savings.

• Over the Next 3-4 Years: The next $975,000 is paid in stages as the building goes up. This is funded through your bank loan (which pays out in stages) and/or CPF.

• When You Get Keys: You will have already paid $1,275,000 (85%).

• The Final Payment: The last $225,000 (15%) is paid once the entire project, including all communal areas, is fully signed off.

This staggered timeline is especially helpful if you are planning to sell your current home to fund the new purchase, as it gives you a long window to coordinate the sale.

Your Next Step: Let's Personalize This Plan

Everyone’s situation is different. Are you a young couple buying your first home? A family upgrading for more space? Or planning for the future?

Understanding this timeline is the first step to turning those dreams into a solid, stress-free plan.

If this guide was helpful but you’re thinking, "Okay, but what does this look like for my budget?", let’s have a quick chat. I can walk you through a personalised timeline based on your finances and goals, with absolutely no obligation.

You can reach me directly. Here’s to finding a home that’s perfect for your next chapter.