Hi Kaye,
ABSD will likely be incurred upfront and because the amalgamation of land will still need to be approved by the authorities with all plans submission and etc to be done, on top of the application to refund the ABSD since at the end of the day, the intention is to combine 2 properties in to 1. There is no outright answer to the first question.
In terms of whether is it better to have someone to buy over the neighbour unit instead, it greatly depends on the finances eligibility in the event that a home loan is required. Of course, having another family member to buy over the neighbour property will be good if the member does not currently own any residential properties therefore ABSD concern will be removed. As to combination of title deeds in future, it will again depend on authorities approval.
Instead of having to go through the construction phase where rising construction costs are putting many people off from going through this process, why not get a brand new house with bigger build up area to accommodate the family instead so there will be no hassle of going through the construction phase?
I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.
I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.
Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.
With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.
We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!
Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main]
+65 6471 8888
[mob]
+65 81577565
[LDA]
+65 92787772
www.geryllim.com
My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0
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