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Property

A roof above your head or more?

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Property

Junus Eu
Junus Eu
Level 8. Wizard
Answered 14h ago
The main difference is that singles can only buy BTOs at 35. On a side note: Ideally the flat buying should not be one of the key reasons to getting married. Have seen couples marry for the flat, and they divorced before they even moved in. Needless to say, it was not pretty.

99.co Event

Property

Condominium

Junus Eu
Junus Eu
Level 8. Wizard
Answered 14h ago
Do you mean predicting BEYOND what is already shared as future plans? https://www.sgtrains.com/network.html Future Lines "New rail lines have been planned to be built in the next 15 years. These pages will provide a brief overview of the line history and its proposed alignment. The actual alignment of these lines have not been finalised yet." The Cross Island Line will be the eighth line to be introduced into the MRT system. Designed to be a fully underground and automated high capacity rapid transit line, it will be Singapore's longest underground MRT line and will span about 50km with around 30 stations across the island. The line will be opening in three stages from 2029, and will enhance east-west travel from Changi to Jurong Industrial Estate; serving as an alternative route for the East West and Downtown Lines. The eastern leg of the line will also extend outwards from Pasir Ris to Punggol.

Property

Jessica Chuah
Jessica Chuah
Level 3. Wonderkid
Updated 17h ago
Hi! I am in the exact situation as you and in fact, had 8 unsuccessful BTO/SBF attempts so my fiance and I gave up. What we did was to go into the resale market to find my flat with my fiance instead of renting, as I would rather own a property and pay off the mortgage instead of renting a flat, but that is my personal preference. From what I see, the $40k could actually go into the downpayment of a resale flat. Going for a resale does have its merits as you will be able to enjoy grants ($50k for 4 room or smaller flats, $40k for 5 room and larger flats, $20k if you choose a flat near one of your parents, $30k if one of your parents move in with you). This will subsidise your flat purchase quite a lot. Resale flats might be older but I would say I have no regrets purchasing mine, just do your homework to research on the recent transacted prices of your shortlisted regions and do check out various blogs or property websites (eg. 99.co) to find out what to look out for when purchasing a resale flat. After a couple of viewings you and your bf will be able to find out your preferences which will help in the process of shortlisting and later offering the seller a price. That being said, do ensure that you are ready to commit to pay monthly mortgage loans and also for the downpayment of the flat before going into it. Otherwise, you can still consider waiting till you get a BTO and still rent meanwhile if you prefer a newer unit. All the best!

Property

Family

Leo Kwek
Leo Kwek
Level 2. Rookie
Answered 5d ago
Hi you can only apply for a new BTO after the 5 years MOP of your Resale Flat. Once you have completed the 5 years MOP, you can then proceed to apply for BTO Balloting. If you manage to successfully ballot for a new BTO, upon receiving keys to it, you will have 6 months to sell away your Resale Flat. All of the above is assuming that the Resale Flat is your first subsidized housing.

Condominium

Investments

Property

Junus Eu
Junus Eu
Level 8. Wizard
Answered 1w ago
I've had a tenant (my first) who either didn't pay on time (he usually paid 1 month late), and in general was not contactable. That was a nightmare tenant. Thankfully, my second tenant(s) are a really nice couple! With regards to ease of getting tenants, it really depends on the area you are in. The key is in ensuring a high occupancy rate ie. don't leave the unit empty for too long.

Investments

Property

Lifestyle

If you want to buy books, buy from book depository or amazon. They are cheaper as compared to kino. Only buy books from kino if they are locally published. If you are new to investing, best to pick up the basics first instead of diving into topics like value investing or options. As Gabriel suggested, millionaire teacher is a great book. I'll also suggest rich by retirement which can be found only on amazon but is written in our local context. If you want to go into options, I'll suggest you pay for a mentor to guide you and not rely on books. 1. You shortcut the entire learning process and have someone correct your mistakes immediately. No waste of time. 2. You gain immediate access to a proven system that works. 3. You will usually get access to discounted comm structure with a broker. Personally I learned options from my mentor a few years ago and supplemented with a few books I bought. Most of what is found in those books can be found online. And most won't teach you a system you can immediately use to generate returns. Hope this helps.

Property

Investments

Jacob Chong
Jacob Chong, Executive Financial Advisor at PIAS
Level 3. Wonderkid
Answered on 30 Jan 2019
Hmm.... Honestly I am very intrigue by their so call 0 downpayment and owning all the 34 properties without any cash down payment. I have been in the Banking industry long enough to know where they are going on with the scheme of theirs. Lets take things into prespective: Legally, if you are to own another property (investment) you will be subjected to ABSD of 12%, Legal Fee, and what have you, of about 15% in total... That's to the Government. Now after securing your so call investment property, you have mortgage to take note, Maintence fee, rental, Property Tax, insurance etc.... I have seen people doing de-coupling of properties so as to escape the ABSD, then what about the legal fee and the rest.... (In the end, its the lawyer, the bank and the Agent most of all the earns the most) not you. Think about it, when you have no financial means to pay the mortgages who is being sued? Bank takes back the property (no lost) Lawyer wash their hands off, because they are only doing the conveyance (money already collected) Agents earned their comm and now long gone (again money collected) You? Charged for bankrupcy because you should have known better about your finances. The funny thing about all these that I have mentioned there are still people in Singapore wanting to buy up property for retirement, for captial gain. When these ads comes up in FB or any social media many rushes in to see and roped into it. A 1million property (which is very rare now) would cost you to lose 15% to the Government. Thats a Whooping 150k. How then can you make back this 15% initial Loss in a matter of 2 years, 3 years or even 5 years.... Foreigner you say? Foreginers will make up for that 15% lost you made. Statistically, you will know you are just trying to comfort yourself. Government has already limited the number of Foreigners into Singapore, and looking that the tax that they are paying i doubt so. What they are trying to make up is a Private investment scheme to properties under many co-owners pulling funds and resources together and since you have a miserable 5% share of the subject property you are considered as OWNED A PROPERTY. I don't know about you but i will Definetly GIVE this A BIG MISS. When Sh s hits the Fence, you know those gurus that say they are just teaching Singaporean how to own 34 properties for free(trust me they get kick backs from lawyers, agents, developers there is no such thing as free) are already long gone and there isn't a think you could do to them because they are not regulated.

Property

Investments

CPF

There are several options to park your cash, amongst which Singapore Savings Bonds (SSB)is one of them. However do note that there is a individual limit of $200K for SSB, and you'll need to open a CDP account first, and then ballot for the SSB tranche. Even so, you might not get the full allocation, so you will likely have to spread it over two or three tranches. Rates vary from month to month, but any early surrender will still result in the interest being paid. High deposit FDs are another option, but as you have pointed out, the returns are around less than 2% and any early termination results in the accumulated interest forfeited. Regarding CPF: Any contributions made to CPF will be spread across the 3 accounts: CPF OA, SA, MA, which earn 2.5%, 4%, 4% interest annually, respectively. Do note that the maximum you can contribute to CPF every year is the annual limit which is $37740, and seperately, you may top up CPF SA to the prevailing Full Retirement Sum (will confer tax reliefs for you up to $7000) CPF monies cannot be withdrawn at will, till at least age 55, but you can use CPF OA money for property. So don't treat CPF as a deposit account.

EC Condominium

CPF

Savings

Salary

Property

Dith Woo
Dith Woo
Level 3. Wonderkid
Updated 3w ago
There are a lot of other factors that would help other Seedly members answer your question. For example, what are your ages, your marital status with your partner, are you a first-timer or second-timer, do you own other properties, what are your motivations for buying an EC (amenities, investment, bragging rights, etc), are you eligible for a bank loan, what is the size of the unit you are looking at, how long do you intend to stay in the EC before selling, are both of you Singapore Citizens, what’s the status of your Total Debt Servicing Ratio (TDSR) / Mortgage Servicing Ratio (MSR), and so on… I’m going to base my answer on the recent EC that was launched in Punggol, Piermont Grand, which has an average price of $1,080 psf (pricier than the usual, but seems to be the only EC launch this year). This means that a three-bedroom unit starts from $888,000. Unlike that of a HDB flat (just 10% down payment), you need to make a down payment of at least 25% for the EC. This works up to $222,000, which almost nearly wipes out your $250k combined cash and cpf savings. Don’t forget other costs like stamp duty, legal fees, etc. You could be eligible for some grants, which may help a bit. Those who opt for an EC are also not eligible for the HDB loan, so you will need to find a bank loan and likely refinance it every few years for the best interest rate. Say you get one at 2% interest – for your remaining $666,000 over 30 years, you will need to repay $2,462 every month. That slightly exceeds 30% of your combined income, so you might not be eligible for the MSR… uh oh. But I took the liberty to reverse engineer the loan repayments… so if you take a loan of $649,125 (means more cash outlay for the down payment), the repayment amount is $2.4k exactly, or 30% of your combined gross monthly income, which is the MSR cap. If you can tough this out for 10 years, you could gain from selling your now private property in the open market… but you might need the savings for setting up your family, renovation, children’s education, etc. A lot can happen in a decade. If possible, perhaps consider getting a HDB flat first as your income is well within the income ceiling. Then after the 5-year MOP, sell the flat and use the money to upgrade? Or you can wait for cheaper EC launches. Either way, all the best!
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