Hi Dylan,
Congrats on fulfilling your MOP and fully paid up your loan! Buying a 2nd property will be a step closer towards achieving financial freedom!
As explained by some of my colleagues here, as this will be your 2nd property, you will need to pay Additional Buyer Stamp Duty (ABSD) when purchasing. More importantly, you will need to weigh the pros and cons between buying under your own name to save on the ABSD or buying together with your wife.
Buying together has it's advantages as you will be able to secure a bigger loan amount and can be open to more options in the market. The additional 3% that you are paying maybe worthwhile if you manage to get a good unit with upside potential instead of a smaller unit if you were to buy alone.
My recommendation to my clients is to have an overview of their financial status before deciding. Do take note that the golden rule to property investment is to buy within your own comfortable means and most importantly do not over leverage. With these in mind, it is just about picking the right project with the best potential and wait for it to appreciate.
Please feel free to contact me so that I can understand your objectives better and provide you with more informed recommendations!
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 (2016/2017)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited 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.”
Susana (Buyer)
“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.”
Mr & Mrs Wong (Property Seller)
“Nick 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
