Good evening buyers,
Do take note that you will face these restrictions in your second property purchase:
1) set aside basic retirement sum of $83k in your CPF OA + SA before you can utilise the excess CPF OA funds in this purchase
2) you will be subject to 7% additional buyer's stamp duty for owning second residential property if both of you are Singaporeans.
Good thing that you dont have outstanding housing loan thus you will be eligible for max 80% bank loan (still subject to TDSR).
Your TDSR should be 60% unless you have many credit cards, car loan etc.
By the way, care to share whether will this property purchase be for own stay or investment?
Just to share, I just helped a single income punggol owner with 3 kids to purchase a private condo with huge tax savings. He is not even hit by the restrictions and still have at least 3 years worth of reserved funds to pay the mortgage even in the event, he doesnt need to work.
May I know when will be a good time for me to share more with you and wife?
- One of well-earned Star Performers under the category of Top Private Property Transactors in Jan 2017-
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480
(M):
+65 9111 5171
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yt.tan91115171/
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