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Hello!

Good day to you!
I’m Daniel Tan from Huttons.

If your mum has already fulfilled the Minimum Occupation Period (MOP) of 5 years for her HDB unit, she will be eligible to purchase another private property without disposing her current unit.

However as the new private property will be purchased under her name, the mortgage loan will also be under her name, as she is the registered owner for the private apartment. Do take note of the loan amount and loan tenure; if there is still outstanding loan for the HDB, the loan amount(%) will be lower.

On top of that, she will also have to pay the Additional Buyer Stamp Duty (ABSD) of 7% of purchased price, as the new private apartment is considered her second property, if she choose not to sell away her HDB after the purchase.

Based on your S$500K cash, you have a good selection of units however subjected to the loan approval from the banks.

Please do share with me more on your requirements and concerns so as to allow me to better assist you with your purchased.
Hope to hear from you soon.

Any other queries?
Please always feel free to contact me for a non-obligated discussion on how I can assist you with your real estate needs.

Have a great day ahead.

Best Regards

Daniel Tan
Huttons Asia Pte Ltd
 (+65) 94775100 
daniel.tck@outlook.com Read More

Hi fellow Singaporean,
buying a property is a big decision. It will be much easier and safer to engage a reliable and professional property salesperson to help you in arranging and coordinating viewing and help you coordinate on your financial needs and advise you on related property tax implication.
I will sit down with my clients to better understand their needs, requirements and plans first.
Feel free to contact me should you need assistance. Cheers.
Desmond Low - PropNex @ 9789 4247 
desmondlowps@gmail.com Read More

Good morning!

First of all, MOP of your mom's HDB must be fulfilled before you can use her name to purchase a private property.

Secondly, the mortgage will be only under her name as she is the legal owner. Thus I will advise her to apply for in principle approval first to see how much can she loan.

Thirdly, she will be subject to 7% ABSD as a SC purchasing a second property.

And if she have utilize CPF OA funds in current flat, she has to set aside $77.5k in her CPF OA + SA account before she can use the excess for this purchase.

Maybe you can share more on your situation first so I will be in a better position to advise you further.

Hope to hear from you soon! Cheers.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Hi, do you know the estimated cost breakdown of the investment? Do you like to see the financial calculation and the potential gain? We can discuss via email.

I am reachable at my mobile or email.

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

Hi,

How you buy a right property today is very different from what you can do so 5years ago due to rulings & regulations.

I have a more updated opinion on how you should enter the market as a fresh buyer.

USING YOUR MUM"S NAME -----------------------
Take $1mil Purchase Price for Condo
So 3%BSD + 7%ABSD = 10%($100,000)TAKE NOTE.
You must analysed whether HDB can rake in as much to recover back this $100K within a decade.

HDB CONSIDERATIONS ----------------
1) For BTO,
Lower price perk but location debatable
3%BSD minus $5400 apply.
When MOP fulfilled, is about 8 to 9 years depending on construction period.
2) For ReSale HDB,
CPF Housing Grant MAX $30,000 +10,000 if stay near parent
3%BSD minus $5400 apply
MOP to fulfil is 5yrs

There is no right or wrong answer as whether one should purchase a HDB. The right time of purchase is always dependable on government's direction for the country.

MY SUGGESTION & VIEWS ------------------------
Using your own name, go for a sensible DUAL KEYS Condo, consist of Studio Subunit & 2/3bedder Subunit COMBI. You can own stay in either Subunit & rent out the other without invading privacy as each Subunit has its own main entrance. Its like having 2 units but pay for only 3% BSD; winning strategy as rental offset instalment.
Studio rental is $2,000/month average, 2bedroom is $3200/month average.
HDB Rental is 2400/month average, regardless of type 4Rm & above. To rent out HDB whole unit legally, MOP must be fulfilled.

CONCLUSION -----------------------------------

Price of Condo will continue to remain stable due to developers are not bidding for land sales frequently. For HDB, there will always be constant supply, 15 to 20K unit yearly.
Very little restriction imposed on condo except for Loan Issue.
Condo can also be a mortgage asset which is very important when you need to purchase a commercial property for business/investment and which HDB cannot.

For HDB, its a TimeLine game & pretty 1 dimensional, which unless you do not mind the slow wait & restrictions imposed as of today's.

A wrong choice is a 5 to 10 yrs time loss so do take note.

Contact me should you need more detailed advisory & choices available on the market to comprehend.

Cheers:)

Regards
Jerry Phoey
HP: 9630 1615 
HUTTONS REAL ESTATE Read More

Good Day to you,

I understand your intentions to invest in real estate. Please be guided correctly that since your mum has a hdb under her name, Additional Buyer Stamp Duty (ABSD) of 7% will be applicable when you make the purchase.

If the hdb your mum owns has no outstanding loans, she should be eligible for a 80% loan while if there's outstanding loan, she would only be eligible for a 50% loan.

Should you decide to use your own name, no additional buyer stamp duty will be applicable. You should also be eligible for a 80% loan.

May I know what are your requirements for this investment? Are you looking for a 1 bedder? Also, what are your priorities? Rental yield or capital appreciation?

Feel free to contact me should you require further assistance.

Best Regards,

Tan Han Wei Leonard
ERA Realty Network Pte Ltd
www.leonardtan-property.com
Leonardtanhw@gmail.com
 9150 1162  Read More