AskGuru Q&A Community

Good morning,

Firstly, you will need to fulfill the MOP requirement before you are eligible to purchase your second property. Then you need to be SC in order to keep the HDB after getting your second property. ABSD of 7% is payable by cash but you can obtain 80% loan and utilize full CPF OA fund if you have not reached retirement age.

Do feel free to contact me should you require additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

Looking for an experienced agent with knowledge on sales and purchase of residential property in Singapore?
With more than 10 years experience on all S&P cases, along with knowledge related to:

1) Mental Capacity Act
2) Long Lasting Power of Attorney
3) Esate Planning and Distirbution
4) Divorce
5) Bankruptcy
6) Purchase of HDB after Retirement Age

You can be sure that your concern and doubt will be cleared. This would allow you to move forward in one of your life's most rewarding decision with ease of mind. Read More

Good morning buyer,

Happy 2018 to you!

May I know have you fulfilled the minimum occupation period (5 years) of the flat you had inherited?

If you have, you will be eligible to purchase a private condo as your second property. Do take note of the 7% additional buyer's stamp duty as Singaporean for buying second residential property.

As you dont have any outstanding housing loan, you will be eligible for max 80% loan (subject to total debt servicing ratio).

Therefore downpayment (20%) will be 5% cash and 15% cash or cpf.

Hope my explanation helps!

May I know how can I value add further in your property needs?

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Accolades:

Platinum achiever (Clock $100k commission within 1 month) August 2017(Propnex)
Top Individual Achiever August 2017(Powerful Negotiators Group)
Top Private Property Transactors January 2017 (Propnex)

Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

http://bit.ly/yt_proptrack Read More

Hi,

If you have served the 5-year MOP of the inherited HDB flat, you will be able to loan up to a maximum of 80% (subject to Bank's approval and TDSR requirements) for your private property purchase.

Should you be able to loan 80%, the balance 20% downpayment you will have to pay will consist of 5% CASH, and 15% CPF or Cash.

Do take note that you will be liable for ABSD for your second property purchase.

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 and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hey there,
Congrats on fully paid your HDB. You have a great asset instrument on hand. A typical HDB can generate a good 5-8% rental yields.

You need to complete the 5-year MOP (Minimum Occupational Period of your inherited HDB flat, before you can consider buying your next condo ( assuming you are Singapore Citizen). As this is your 1st mortgage loan, you can loan up to maximum 80% of the purchase price, subjected to:
1. TDSR (Total Debt Servicing Ratio) : max 60% of your incomes
2. Your Age: this will affect your Loan Tenure
3. Your condo purchase:
4. Your affordability: Your income do affect your loan
As for the downpayment, you need to take note:
1. 20 % downpayment, with minimum 5% cash. The remaining 15% can be CPF or Cash
2. As this condo is considered to be your 2nd property, you are required to pay 7% ABSD (Additional Buyer Stamp Duties) depending on your Status. I can advise you offline on this.
Hope the above address to your concern, but if there are more queries, please feel free to call/WhatsApp me at 9366 1846  , or email: shawnkhooch@gmail.com if more information is needed.

I’m obliged to assist your needs.

Warm Regards,
Shawn Khoo
PNG Propnex
BA Design (Hons), DIP Architecture

Email: shawnkhooch@gmail.com
Contact: (+65) 9366 1846 
Whatapps: (+65) 9366 1846 
Facebook Page: www.facebook.com/shawnkhoo
Website: http://www.shawnkhoo.com
(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- HDB Sengkang 4rm Landlord Ms Lim--

We approach Shawn to rent out our unit because he is always present in my area, through flyers and road show. He secured our tenant with my expected rental within 2 weeks of marketing and handle all the necessary arrangements. It was a hassle-free experiment for us. Currently, we are getting him to renew our tenancy with the existing tenant.

--- First Time Executive Condo Buyer Mr. & Mrs. Soo ---

We are referred to Shawn by our friend who bought a resale HDB through his services.

At that time, we are pondering whether to buy a resale or BTO. Shawn professionally explained the pros/cons on all possible options. We finally decided to buy a EC after he gone through the financial calculations with us.

We have since moved into our EC and very happy with our new home. Good Job, Shawn

-- HDB 3-rm Sellers Mr. & Mrs. Ang --

We have engaged the services of Shawn Khoo for sale of our flat at Whampoa. We previously faced issues selling our unit. Shawn clearly explained how he is going to market our unit.

Shawn is hardworking and committed to his work. He run Open-House for our unit every week and update us on the status regularly.

We managed to sell our unit within a short period of time. Thanks, Shawn Read More

Hi Sir

Have you completed your 5 years Minimum Occupation Period? from the day you sign the takeover of the flat?

THanks.

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

Answer Posted on Dec 20, 2017

Good day Sir / madam .

If you choose to keep both the hdb and private property eventually , do note the extra taxes ABSD that you have to pay , extra 7% of example $1million private property equals $70 000 .

Vise versa , if you are willing to sell your hdb and buy a private property , substantial savings of $70 000 in taxes for a example $1million condo .

When you do your sums , you might realise it takes a few years of hdb rental income to recoup the ABSD If you choose to keep your hdb .

Kindly contact me Joanne chia Hp 8333 3327  for a no obligations chat for your property needs.

No commission chargeable when i serve you to buy a private property .

Thank you .

Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More