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Good morning James,

I have shared with another enquirer on this in another post since it's about the same query, maybe I can share with you what I shared with him.

Something to take note if you want to purchase a private property while holding on to current HDB.

1) you need to pay additional buyer's stamp duty of 7% if you are a Singaporean buying second residential property.
2) if you have outstanding loan, you are only eligible up to 50% bank loan.
3) you have to set aside a minimum sum of $80.5k in your CPF OA +SA before you can use the excess.

Probably you can share more on your finances (CPF OA and SA funds) so I will be in a better position to advise you what's your affordability.

Hope my sharing is beneficial to your property purchase.

May I know how can I value add in this purchase?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

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

Hi James,

It looks possible and it depends on how much amount you can loan. If you purchase now, you can loan up to 50% of the purchase price (as its your 2nd loan) and 7% ABSD is applicable. Thanks and may I have more details of your plans so to value-add further?

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

Email: Ivanng10@gmail.com
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(Client's Testimonials) Read More

Hi James,

You may want to consider removing your name from the HDB. However, this may involve costs such as your parents having to repay you the CPF you utilised with interests and also the outstanding housing loan.

This will free up your name for you to purchase a private property without having to pay the 7% Additional Buyer Stamp Duty. If you are buying for investment, you can consider 1BR which are selling with tenancy. Some of the rental yields are as high as 4%.

With your income, you should be able to afford a loan comfortably and use it as a leverage. This is a better move as compared to waiting for 3 more years before you are eligible for a resale HDB flat.

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

Testimonial from Satisfied Clients (2015/2016)
“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 of HDB)

“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.”
Susana (Buyer of HDB)

“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!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
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“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi,

Re: Our Preferred Experienced SG Professional

Before you go ahead to purchase a property, you need to secure the housing loan to serve your next property purchase. I can arrange my pool of bankers to assist you.

Feel free to engage me as your agent. I can assist you based upon your stated contents and walk you through the entire process with options.

Call me now, we can explore further in detail.

I am contactable at 92222389  or onassis@sgrealtor.com / sgagent.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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