11 Answers

YT Tan (陈永达)
Good morning buyer,

Do take of these cooling measures if you decide to hold on to your current HDB and purchase a second residential property:

1) 7% additional buyer's stamp duty as Singaporean
2) you have to set aside half of minimum sum $80.5k in your CPF OA+SA first before you can use the excess CPF OA funds for this purchase (individual basis)

My team has assisted numerous clients in restructuring and grow their property portfolio.

You have to ask yourself a few questions in regards to your HDB:
1) has your HDB attain its peak price? Will it appreciate in time to come?
2) What will happen to resale value as it ages?

Perhaps you can share more with me so I will be in a better position to advise and offer a few suggestions for you.

Hope to hear from you soon!

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Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

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Ng Teck Chuan
Hi upgrader,

You'd have to consider the remaining lease of your HDB, whether it's worth keeping; location of the HDB is important as well, if you'd like to consider renting it out.

Assuming ABSD of a $1.5M house ($105k), you could possibly get it back after renting out your HDB unit for 4-5 years; if you can't wait, perhaps you should consider letting it go.

I'm currently selling a couple of 4-room flats in Hougang, and would be glad to give you some advice.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602 Read More

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Robbie Chen Chee Howe
Hi Sir,

Based on your $1.5m that you quoted for your next condo purchase, you will be liable to pay up to $105,000 in ABSD.

Assuming your HDB can rent out for $3000 per month (which is a tough ask), you will need at least 35 months just to cover the sum of $105,000. Only after 35 months that you can start collecting "passive income" from this property.

Next question you should ask yourself, what are the chances of your HDB appreciating $105,000 from today's market value? And how long will it take to appreciate this amount? Would it be better if you can unlock the value and invest in something else that gives better value in returns?

On a financial view point, it does not make sense to pay ABSD, and you would be better off selling off your HDB and invest in a condo.

However, I know some couples have "feelings" attached to their 1st matrimonial home, and don't mind paying ABSD just to keep hold of their HDB.

So, depending on which is your priority, I believe you should already have the answers in your heart.

Should you have any queries, please feel free to contact me at my mobile 9748 6305. I will be happy to assist.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More

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Tricia Tan 陈丽子
Hi Owner
if your hdb lease term is too old, it is not worth to keep then.Let do a meet up so I can advise you on the restructuing of your properties and the financials breakdown so you can decide which way will be the best option to go.
Looking forward to hear from you. You may reach me via 91442664 for a discussion.

Tricia Tan propnex
91442664 Read More

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Ivan Ng
Hi,

I guess a large part of it will be whether the numbers make sense. Total stamp duties for a $1.5m 2nd property, assuming you keep the hdb, will be approx $150k (bsd+absd). From the financial perspective, you need to rent out 5 - 7 years to recoup this amount, and there's no guarantee your older hdb property can fetch 400k with less years on the balance lease. Whether its worthwhile to keep ultimately depends on the owners as there are subjective elements at play as well.

By the way, is there a need to purchase now? May I understand your plans further so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395
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Geryl Lim
Dear sir/madam,

Before my own opinion, I'd like to know why do you term selling your HDB as "losing the chance to own HDB forever"?

Without knowing why is this HDB so important, I guess we can only tackle your question based on the number game.

Like what Ivan Ng has shared, you will probably be looking at renting out your HDB for a period of 5 years onwards just to recover your ABSD paid, assuming no maintenance costs as well as valuation remains at $400k 5 years on. If there is no other reasons for keeping the HDB, I'd rather you sell your HDB and purchase the condo at $1.5m range. Subsequently, you can invest in a smaller studio apartment for rental income, where ABSD payable will then be a smaller amount instead of basing on this $1.5m.

Would the above make more sense from investment perspective?

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
CEA Reg R014783H
Mobile: +65-81577565/+65-92787772
Email: geryl7772@gmail.com

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Nick Tan
Hi Sir,

I would suggest you to do up a financial plan first to see whether the 2nd property purchase is within your comfortable financial limits (taking into consideration the ABSD payable) before deciding on how to proceed next.

If a 2nd property is within means, I would strongly encourage you to keep your HDB as HDB generate a stable and decent yield of more than 6%. In this arrangement, you will be able to rent out your HDB to generate a passive source of income while staying in the condo unit to enjoy the lifestyle living.

Please feel free to contact me so that I can gather more info from you and draft up a financial plan for you to advise and assist you further!

Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

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“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
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Joanne Chia 谢诗琳
Good day sir / madam

With all u respect to you , i would not keep the hdb in your circumstances , the main reason being the hefty ABSD .

If financing or TDSR total debt servicing ratio permits , first sell off your hdb , you or your spouse can buy the next private property as sole owner , later on if desired , a 2nd private property would similarly not be subjected to ABSD If buy as sole owner too . No ABSD and NO CPF minimum sum lock in , since you and your spouse each own 1 property only .

Please note , very important , CANNOT claim back your ABSD paid if buying private property as SOLE OWNER .

Kindly contact me for a no-obligations chat for your property needs .

My charges are 1% commission for exclusive selling rights to your hdb or 2% for open listing .

No commission chargeable when i serve private property buyers .

Thank you .

Joanne_chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327 Read More

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  • RW
    Hello joanne, if I sell off the hdb, buy the private property as joint owner, appeal to get back absd. It shouldn't be a problem right?

    Then later on can I decouple this private property/ assign 99% share of the house to my spouse so the next property won't be subjected to absd?

    Later on buy another unit
CK Ang
Hi,
Base on the cash of 500k on hand, if you are able to accept the 7% ABSD, I would suggest to keep HDB. To advise you more in details, kindly drop me an email.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
9046 3808
res.ckang@gmail.com Read More

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YT Tan (陈永达)
Good morning buyer,

You can choose to purchase first and pay ABSD then sell off HDB within 6 months to apply for ABSD remission. If you are not able to sell off within 6 months then you wont be able to claim back the ABSD.

Some of my clients didnt manage to adhere to the time frame and lost that huge sum of money so I will usually recommend them to sell first then buy.

If you decide to go for this option, you should purchase under tenancy in common. Whichever outgoing party will be 1% probably you then your wife owns 99%.

The percentage of ownership will plays a part in payment of seller's stamp duty (if applicable), buyer's stamp duty etc.

Perhaps you can share more with me so I will be in a better position to advise and offer a few suggestions for you.

Hope to hear from you soon!

Like me on FB: www.facebook.com/yt.tan91115171

Just to share!

Only a one time sign up, you will be able to receive a free SMS update on the value of your home and neighborhood from me on a monthly basis.

Click this now: http://goo.gl/Gg5pe3!

Join me on board towards a hassle free update on valuation now!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

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

Powerful Negotiators
No.1 team in Propnex Read More

0

Risdian Isbintara
Hi, I'm conservative. My opinion will be to hold on the HDB, and buy a 2nd property. Simply because I like the idea of owning a fully paid property, the rental yield is good and it can be a backup for a bad financial storm.

I agree the ABSD is too much. But it is labeled a cooling measure and hopefully that will be removed in the near future. That's when you go in.

Perhaps for now you can put that money into other investment instruments.. But one that is short term or easy to liquidate just in case the right opportunity arrives in the property market.

All the best.

- Risdian Read More

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