Paying ABSD for 2nd property

Wld you get a second property- condo at 700k if you already have a hdb 3room mature estate fully paid and rented out?

the hdb was bought in 2010 at 315k.

so if buy the private property need to pay 140k tax.

of course it is hefty.

thinking that the 140k is used to pay the hdb so hdb becomes 455k while the condo still stays at 700k.

in this way one won't feel painful paying the absd.

Any views?

both property will be rented out and the private property will incur 500k loan for next 20 years.

Discussion (19)

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Robin Lim

31 Oct 2023

Yes, I will if I am cash rich.

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Ngooi Zhi Cheng

05 Oct 2023

Student Ambassador 2020/21 at Seedly

Navigating the complexities of property investments, especially concerning Additional Buyer's Stamp Duty (ABSD), can be overwhelming. Let's explore this scenario together, unraveling the financial intricacies and paving a path towards informed decision-making.

I recently assisted a client facing a similar dilemma. With a fully paid HDB property, he contemplated a second investment in a condo. By analyzing his financial portfolio and weighing the ABSD implications, we tailored a strategy. This approach not only mitigated the upfront costs but also optimized his overall returns in the long run.

A common misconception is that paying hefty ABSD hampers your overall investment potential. While the initial payment might seem substantial, a strategic approach can ensure it becomes an integral part of your property portfolio, enhancing your wealth trajectory over time.

Consider viewing the ABSD as an investment in your HDB property. By channeling the additional costs toward the HDB, you're enhancing its value, making it a strategic financial move. To delve deeper into personalized strategies that align with your financial goals, connect with me on Instagram (@ngooooied). I specialize in optimizing property investments and can guide you toward a tailored solution that maximizes your ROI, even in the face of ABSD challenges.

Remember, strategic planning can turn apparent challenges into long-term financial advantages. Let's craft a roadmap that ensures your property investments align with your aspirations. Reach out to me for personalized guidance.

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