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Hello gurus, after the sale of the current HDB flat, we intend to buy 1 sub 1m$ condo for investment, and another bigger unit for own stay. 2 properties would be under single name.

I would like to ask the experts here, is it a sensible move?
Is it better to split into 2 property or just channel all the money and get one bigger better condo unit?

We have around 7-800k in cash after the hdb sale, with combined income around 10k. We are in late twenties and early thirties. Thank you for the reply!
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9 Answers

Hi,

It depends on your risk appetite and comfort level. Selling hdb and purchasing one property under each individual name helps you to save on the ABSD outlay which is substantial. However this requires both to gear up and take up mortgage loan which may not be ideal for every individual. Also as its under individual names, some couples may not be comfortable with the idea. There could be other pros and cons based on your situation, happy to share more if I could have more information.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
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Hi do contact me at 97970200  to discuss more. It seems you are in a good position with some options.

Mark, your RIGHT choice
MCG Read More
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Hi,

At your age group, you have the greatest potential to jump out of rat race as early as in your 40's.

In current market situation, with all the cooling measures brought across. It's never a better time than before.
In fact, most of the current developers are concern of the situation, and will concious on any more price increment.

Just as you might aware that some developers were planned to increase the price after hitting certain percentage sold in the project.
That was observed last year, where all projects' price had increase in the range of 5% to 10%.

With your current financial situation and citizen status, buying 2 properties is a better choice.
Most of the buyers in the market are greatly affected due to the downpayment & LTV.

Thus need to carefully assess on individual income/CPF in order to understand how to proportionally divided to maximise the return.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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Robbie Chen Chee Howe
Hi,

From the information provided, you do have substantial cash after the sale of your HDB sale. However, based on your combined income, you may not be able to loan too much if you're looking to purchase a property in the $2m range. You may also feel abit stretched if you commit to 2 properties at the same time, especially if you plan to have children in the near future.

Have you considered a "3rd option", where you can buy just 1 unit and yet able to achieve rental on a monthly basis?

I think it is advisable if we can arrange for a meetup to discuss all the possible options for you and your spouse going forward.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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To be very frank, I wouldn't recommend to get 2 units where you stay in one and you rent out the other, given that rental return for residential units are not performing and there maybe an element of financial strain if you are stretching towards this option, nevertheless, at the end of the day, we really need to sit down to work on the finer details financially to understand better how your optimum position before moving ahead.

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Hello

It would be difficult to purchase 2 due to the ABSD issue and LTV.. So it is more advisable to purchase just 1 unit for own stay.. For your allowable loan quantum, better check with banker how much you can loan.

Thanks.

Raymond Lim
CCN Realty Pte Ltd
 91388805 
Email: raymondshaq@hotmail.com Read More
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Hi Sir/Mdm

Please contact me at (65) 96608508  or Silviayang8@gmail.com
or click here http://bit.ly/2tzIQ1a for non obligation discussion.

Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd
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Dear Sir/Mdm,

Purchasing 2 properties, each under a single name is a good move as you will be able to save a significant amount of stamp duties. You seems to be in a good position to adopt this strategy as both of you are still young and your earning powers will still continue to increase in the future.

If your family requires bigger space, then I would advise you to purchase a bigger unit in a good location which has future upside potential. In this way, you will be able to enjoy the capital appreciation in the future while you stay.

However, if a smaller unit is sufficient, then you may consider getting 2 smaller units instead, one for stay, the other for rental.

It will be worthwhile to look at your overall financial position and objectives before deciding on which is the better option.

Please feel free to contact me so that I can understand your situation better and provide you with further assistance!

Regards,
Nick Tan
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YT Tan (陈永达)
Good evening Sir/ Mdm,

My team and I have been assisting numerous homeowners to grow their property portfolio while enjoying tax savings.

Care to share why do you intend to purchase 2 properties under single name?

By purchasing a single name, the cooling measures will be applicable:

1) Additional buyer's stamp duty of 12% as Singaporean
2) required to set aside basic retirement sum of $85.5k in CPF OA + SA before can use excess OA funds.
3) loan up to max 45% if there's an outstanding housing loan

Shall we look into the possibility of owning two properties without subject to these cooling measures?

Let's meet up to discuss and explore what are your options.

When will it be good for both of you?

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

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  • BT
    Hi, what I meant was, bought 2 properties using 2 different names. One under mine and e other my wife

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