Asked by Anonymous
Hi, first time posting on any forum and I trust PropertyGuru so i guess it is going to be a good start for clearing my confusion. Apologies! if it sounds a bit silly or doesn’t make much sense.
Context: me (f28) and my long term bf (m31) are applying for BTO. he suggested that we apply as 1 applicant + occupier instead of 2 applicants. His thinking is that if ever buy a 2nd property in future, we may be able to avoid the higher ABSD. from what i understand a singapore Citizen buying a 2nd residential property currently has to pay 20% ABSD . so for example if the 2nd property is $1.3m, that’s $260k in ABSD which is quite a lot tbh!!
But my concern is that since my name won’t be listed as an applicant/owner, I won’t be able to use my CPF to pay for the flat . I d basically have to contribute through cash , while he can use his CPF, correct?
I spoke to my dad about this and he is very skeptical about me putting cash into a house where I dont have ownership of it.
Context: me (f28) and my long term bf (m31) are applying for BTO. he suggested that we apply as 1 applicant + occupier instead of 2 applicants. His thinking is that if ever buy a 2nd property in future, we may be able to avoid the higher ABSD. from what i understand a singapore Citizen buying a 2nd residential property currently has to pay 20% ABSD . so for example if the 2nd property is $1.3m, that’s $260k in ABSD which is quite a lot tbh!!
But my concern is that since my name won’t be listed as an applicant/owner, I won’t be able to use my CPF to pay for the flat . I d basically have to contribute through cash , while he can use his CPF, correct?
I spoke to my dad about this and he is very skeptical about me putting cash into a house where I dont have ownership of it.
