Buying a property, How much can you afford?

Here’s The Salary You Need To Earn To Afford These Homes

How Much Do You Need To Earn To Afford A Private Property In Singapore?

The DOs and DON’Ts of buying your first home

What Can You Afford To Buy?

Buying a property: How much can you afford?

Is this a single or joint purchase?

Here’s The Salary You Need To Earn To Afford These Homes In Singapore

Here’s The Salary You Need To Earn To Afford These Homes In Singapore

5 Reasons for Not Buying an Old Resale Flat

https://www.linkedin.com/pulse/5-reasons-buying-old-resale-flat-mani-subramanian-veeramani/

HDB Vs. CONDO Is Essential For Your Success. Read This To Find Out Why https://www.linkedin.com/pulse/hdb-vs-condo-essential-your-success-read-find-out-why-mani-/

Why are Most FOREIGNERS BUYING A PROPERTY IN SINGAPORE Fail? https://www.linkedin.com/pulse/why-most-foreigners-buying-property-singapore-fail-mani-/

5 Problems Everyone Has With DIFFICULTY IN FINDING A SUITABLE PROPERTY – How To Solve Them

https://www.linkedin.com/pulse/5-problems-everyone-has-difficulty-finding-suitable-mani-/

Singapore Property – Latest Market News

Singapore Property Market News & Information – PropertyGuru.com.sg

Be the first to know the latest property news, articles, deals, etc.

Recently I posted some real estate related articles and opportunities.

Check it out. 900+ tips for property buyers and sellers

Click Here >> https://www.linkedin.com/in/askrealtormani/recent-activity/posts/

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Useful resources:

mySG Home

DOWNLOAD Condo Price.pdf

My listings http://mani.myweb.sg/agent-listings

My profile https://www.srx.com.sg/manis


6 TIPS TO MANAGE YOUR FINANCES IF YOU’VE JUST BEEN RETRENCHED

6 TIPS TO MANAGE YOUR FINANCES IF YOU’VE JUST BEEN RETRENCHED 6 tips to manage your finances if you’ve just been retrenched

What to Do About Your Mortgage if You Get Retrenched

What to Do About Your Mortgage if You Get Retrenched – 99.co

What to do about your mortgage if you get retrenched

What to do about your mortgage if you get retrenched

5 Things to Do Immediately if You Get Retrenched

5 Things to Do Immediately if You Get Retrenched

Mortgage Insurance in Singapore – How To Compare & Decide Which Is Best For You Mortgage Insurance in Singapore – How To Compare & Decide Which Is Best For You

What to Do About Your Mortgage if You Get Retrenched

What to Do About Your Mortgage if You Get Retrenched – Amy Lim Property

Help! I’ve been retrenched Help! I’ve been retrenched

Common Money Mistakes You Make Upon Retrenchment

Common Money Mistakes You Make Upon Retrenchment

Help! I’ve been retrenched Help! I’ve been retrenched

5 Reasons for Not Buying an Old Resale Flat

https://www.linkedin.com/pulse/5-reasons-buying-old-resale-flat-mani-subramanian-veeramani/

HDB Vs. CONDO Is Essential For Your Success. Read This To Find Out Why https://www.linkedin.com/pulse/hdb-vs-condo-essential-your-success-read-find-out-why-mani-/

Why are Most FOREIGNERS BUYING A PROPERTY IN SINGAPORE Fail? https://www.linkedin.com/pulse/why-most-foreigners-buying-property-singapore-fail-mani-/

5 Problems Everyone Has With DIFFICULTY IN FINDING A SUITABLE PROPERTY – How To Solve Them

https://www.linkedin.com/pulse/5-problems-everyone-has-difficulty-finding-suitable-mani-/

Singapore Property – Latest Market News

Singapore Property Market News & Information – PropertyGuru.com.sg

Be the first to know the latest property news, articles, deals, etc.

Recently I posted some real estate related articles and opportunities.

Check it out. 900+ tips for property buyers and sellers

Click Here >> https://www.linkedin.com/in/askrealtormani/recent-activity/posts/

Security Check Required

Please Like, Comment & Share http://askrealtor.sg 

New Launches https://www.linkedin.com/company/propnex-realty/  

Useful resources:

mySG Home

DOWNLOAD Condo Price.pdf

My listings http://mani.myweb.sg/agent-listings

My profile https://www.srx.com.sg/manis

=======================================

I’m Buyer:

Buyer – #AskRealtorMani @ 8300 4411   

I Have Questions: AskRealtorMani  

I want to Join Group: Tips for First Time Home Buyers Singapore (HDB, Condos & Landed) LinkedIn

I’m Seller:

http://askrealtor.sg/blog/category/general/seller/   

I Have Questions: AskRealtorMani 

I want to Join Group: Tips for First Time Home Sellers Singapore (HDB, Condos & Landed) LinkedIn 

I’m Landlord: 

http://askrealtor.sg/blog/category/general/landlord/ 

I Have Questions: https://www.facebook.com/pg/AskRealtorMani/services/?service_id=1352397144879793 

I want to Join Group: Tips for First Time Landlords Singapore (HDB, Condos & Landed) LinkedIn 

 

  

I’m Tenant: 

http://askrealtor.sg/blog/category/general/tenant/ 

I Have Questions: https://www.facebook.com/pg/AskRealtorMani/services/?service_id=1634372749946300 

I want to Join Group: Tips for First Time Tenants Singapore (HDB, Condos & Landed) LinkedIn 


Why Ignoring PROPERTIES SELLING BELOW VALUATION Will Cost You Time and Money?

689 Total Private Units selling for asking prices below X-Value

Properties Below Valuation

DOWNLOAD: Condo Price, How much, Can I afford?

Read all my articles

Properties Below Valuation

DOWNLOAD

Property Market Outlook 2019

http://bit.ly/DOWNLOADPropertyMarketOutlook2019

Properties Below Valuation

I will be glad to guide you personally “How to buy and/or sell your property like a Pro” One-to-One Online real-time web-based coaching anytime, anywhere on your PC or mobile.  Questions ? #AskRealtorMani 📞 💬 83004411 http://bit.ly/ClickToWhatsApp 

  

What you will get

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

 

Questions / Need Help? #AskRealtorMani

 

Get a notification for Below Market Value Property Deals Alert, Returned Units, Clearance Sale, Auction Properties, Indicative Valuation Reports, Property Insider News http://bit.ly/ClickToWhatsApp UPTOWN @ FARRER Send me the Brochure, Price List, Unit types & Availability

 

It’s FREE and easy, nothing to lose, just try, start now  http://bit.ly/ClickToWhatsApp 

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

Properties Below Valuation

Are you UNDER or OVER estimating what you could AFFORD for your New Home?

Consumer Empowerment Seminar 1 June

What’s My Home Value?

DOWNLOAD: Condo Price, How much, Can I afford?

Read all my articles

DOWNLOAD

Property Market Outlook 2019

http://bit.ly/DOWNLOADPropertyMarketOutlook2019

I will be glad to guide you personally “How to buy and/or sell your property like a Pro” One-to-One Online real-time web-based coaching anytime, anywhere on your PC or mobile.  Questions ? #AskRealtorMani 📞 💬 83004411 http://bit.ly/ClickToWhatsApp 

  

What you will get

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

 

Questions / Need Help? #AskRealtorMani

 

Get a notification for Below Market Value Property Deals Alert, Returned Units, Clearance Sale, Auction Properties, Indicative Valuation Reports, Property Insider News http://bit.ly/ClickToWhatsApp UPTOWN @ FARRER Send me the Brochure, Price List, Unit types & Availability

 

It’s FREE and easy, nothing to lose, just try, start now  http://bit.ly/ClickToWhatsApp 

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

Think like an Investor, NOT a Homeowner

Are you having a Financial Nightmare Do your Homework: Understand the TRENDS

to buy your DREAM home?

Have you ever envisioned your dream home? How will it look like and what should be equipped inside? As you scroll through social media or flip to the shopping channel on TV, have you come across beautifully designed home that added more ideas to your dream home?

Sadly, there IS really a difference between expectation and reality. No matter how we envision our home to be, our budget will always put a restraining order to our dream. After buying our home, there really isn’t much budget to work around with.

Are you UNDER or OVERestimating what you could

AFFORD for your New Home?

Here are the various costs to consider when getting your new home: 

– Stamp Duty, Home Insurance, Taxes, Inspection, Interior Design, Furnishing and the list goes on…

Improper planning will lead you into a financial nightmare where your savings and monthly income no longer sustain your monthly expense – Mortgage etc. On the other note, it is also possible that you underestimate what you can afford and not maximising the potential you can achieve from your property purchase. 

Think like an Investor, NOT a Homeowner

Owning a property does not make you an investor if you do not plan like one. Being an investor, you target to achieve a return from your investment. Your dream home probably will not be attained through your first property but the subsequent property which you never thought you can buy.

Do your Homework: Understand the TRENDS

Never Buy on Impulse! You need the statistics to back you on every purchase. Which type of property should you be looking into?

No alt text provided for this image

According to PropNex’s Research, a total of 1,838 Private New Homes (excluding ECs) were sold by the developers, reflecting a steady growth in demand. It was closely comparable with the previous quarter. On a yearly comparison, this was a 16.3% year-on-year (y-o-y) surge in the number of units sold as compared to the first quarter of 2018, whereby 1,581 units were sold.

On the other hand, there were a total of 1,858 Private Resale Transactions (Excluding ECs) in the first quarter of 2019. This was a 5.7% (Q-o-Q) decline as compared to the 4th quarter of 2018, which recorded 1,971 private resale transaction.

But what do these figures mean?

There is no need to worry if you do not understand these figures. What you probably need is an impartial voice to guide you through when you are doing your research. We welcome you to join us for our Consumer Empowerment Seminar!

PropNex Consumer Empowerment Seminar

No alt text provided for this image

Happening on 1 June 2019 (Sat), 10am

SMART Auditorium, PropNex Branch Office

190 Lorong 6 Toa Payoh #03-512 Singapore 310190

Find out how to Replicate My Success

What are the 5 ways to build your wealth with Property Investment?

_______

1. The Concept of Leveraging

2. Spot Value Buys and Crucial Market Entry Point

3. Hold or Sell? How to identify the cycle for maximum gain in your investment?

4. Is it really true that you can Profit from Multiple Properties?

5. Is the Grass Greener on the other side? Should you invest in Foreign Properties?

CEO of PropNex Realty

Mr. Ismail Gafoor

 

His passion as an outstanding entrepreneur prompted him to start PropNex and through sheer dynamism, has grown it into a property giant with thousands of salespersons under his stewardship.

He has spoken about property investments to various organisations and numerous events, both locally and abroad. He is currently the keynote speaker at the quarterly Consumer Empowerment Seminars, with close to 1,000 attendees each session, empowering home owners, savvy investors of property market trends for more informed decisions. His views and insights on the property scene are much sought after given his inspirational communication skills, ability to lead, motivate and influence people.


Buying Property In Singapore As A Foreigner

BUYING PROPERTY IN SINGAPORE AS A FOREIGNER Is Essential For Your Success. Read This To Find Out Why

What’s My Home Value?

DOWNLOAD: Condo Price, How much, Can I afford?

Read all my articles

DOWNLOAD

Property Market Outlook 2019

http://bit.ly/DOWNLOADPropertyMarketOutlook2019

I will be glad to guide you personally “How to buy and/or sell your property like a Pro” One-to-One Online real-time web-based coaching anytime, anywhere on your PC or mobile.  Questions ? #AskRealtorMani 📞 💬 83004411 http://bit.ly/ClickToWhatsApp 

  

What you will get

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

 

Questions / Need Help? #AskRealtorMani

 

Get a notification for Below Market Value Property Deals Alert, Returned Units, Clearance Sale, Auction Properties, Indicative Valuation Reports, Property Insider News http://bit.ly/ClickToWhatsApp UPTOWN @ FARRER Send me the Brochure, Price List, Unit types & Availability

 

It’s FREE and easy, nothing to lose, just try, start now  http://bit.ly/ClickToWhatsApp 

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

What You Can And Cannot Buy

Under the Residential Property Act, a foreigner can buy public housing or private property without approval from the Singapore Land Authority (SLA).

Public Housing

The public housing market falls under the Housing and Development Board (HDB) with certain restrictions.

Eligibility

Here are several property types that foreigners are eligible to buy:

  1. A single non-Singapore Permanent Resident (SPR):
  • A resale Executive Condominium (EC) that is more than 10 years old
  1. A single SPR
  • A resale EC that is more than five to nine years old
  1. A couple (both SPRs)
  • A resale HDB flat
  • A resale EC that is more than five to nine years old
  • A resale EC that is more than 10 years old
  1. A couple (one SPR and a non-SPR)
  • A resale EC that is more than five to nine years old
  • A resale EC that is more than 10 years old
  1. A couple (both non-SPRs)
  • A resale EC that is more than 10 years old

Private Property

The private property market covers the private residential sector. 

Eligibility

Here are the common property types that foreigners are eligible to buy:

  • An apartment or condominium unit
  • A strata landed house in an approved condominium development
  • A leasehold estate in a landed residential property for a term not exceeding seven years, including any further term which may be granted by way of an option for renewal
  • A landed property on Sentosa Cove

Restrictions

There are restrictions when buying a landed property on the main island of Singapore.

As such, you will need to write to the Land Dealings Approval Unit when looking to purchase the following:

  • Vacant residential land
  • Terrace house
  • Semi-detached house
  • Bungalow/detached house
  • Strata landed house which is not within an approved condominium development under the Planning Act (e.g. townhouse or cluster house)
  • Shophouse (for non-commercial use)

The approval is on a case-by-case basis.

Applicants stand a better chance if they can show proof that they have made an “exceptional economic contribution to Singapore”, as SLA puts it.

How To Apply

You can contact SLA at the following address:

Land Dealings Approval Unit

Singapore Land Authority

55 Newton Road

#12-01 Revenue House

Singapore 307987

Tel: 6478-3444

Alternatively, you apply online at SLA’s website.

Procedures For Buying Property In Singapore

Step 1: Use The PropertyGuru’s Affordability Calculator

Now that you have a general idea of where to buy, the next step is to see if you can afford it.

Here, you can use our PropertyGuru Affordability Calculator to check the maximum property affordability based on the current government regulations and property cooling measures. This will only take around five minutes.

Step 2: Check If You Need To Pay Taxes

Foreigners are required to pay Additional Buyer’s Stamp Duty (ABSD) when buying private property in Singapore.

SPRs buying their first residential property will need to pay an ABSD rate of five percent and 15 percent for their second and subsequent residential property.

Meanwhile, foreigners will need to pay an ABSD rate of 20 percent regardless of the number of residential properties purchased.

Calculate how much stamp duty you need to pay for your Singapore property

However, there is no need to pay ABSD for US nationals or nationals and Permanent Residents from Switzerland, Liechtenstein, Norway and Iceland.

You also need to pay a Buyer’s Stamp Duty (BSD) and Mortgage Duty whether you are buying from the public or private housing markets.

Do also note you need to factor in legal fees and other administration fees.

Step 3: Go Through PropertyGuru’s Listings

Our listings provide a comprehensive selection of resale HDB flats, ECs and private condos as well as new private property launches to suit your budget and desired location.

As a general guide, you should consider proximity to nearby amenities, MRT stations, parks, economic drivers and ease of commuting to work as part of your selection criteria.

Get more insights on the right locations for your new home at AreaInsider

Step 4: Hire An Agent

An agent can help you scout for the best deals, do your financial calculations, settle your paperwork and other nitty-gritty details. They will typically charge an agent fee of one percent.

Looking to buy a home in Singapore? Speak to one of PropertyGuru’s preferred property agents and get advice

Step 5: Apply For A Bank Loan

Foreigners are only eligible for a bank loan in Singapore.

You can get up to 80 percent financing on the property’s purchase price for the first property and 60 percent for the second and subsequent property.

Bank loans are subjected to floating rates meaning their interest rate can go higher or lower.

Banks are also very strict should you default on your repayments and will not hesitate to repossess your home.

Thus, you need to set aside at least 12 months of savings, just in case.

Step 6: Make An Offer And Seal The Deal

Now that you have found your dream property in the HDB or private property market, it is time to seal the deal.

For HDB resale flats, you will need to log into the HDB Resale Portal with your SingPass.

You may refer to the resale procedure on the HDB website.

For condominiums, you will need to put down an option fee of one percent of the purchase price, secure financing and pay the remaining option fee of four percent within a month.

After this, you will need to place a downpayment of 15 percent in cash and/or CPF for SPRs.

For foreigners, you will need to pay this in cash.

Subsequently, you need to pay the remaining five percent in cash while the rest will be loaned by the bank.

Read more…

Secrets To Getting TDSR LOAN APPLICATION APPROVED?

Wondering How To Make Your TDSR LOAN APPLICATION APPROVED? 4 TIPS TO MITIGATE THE IMPACT OF DEBT ON YOUR TOTAL DEBT SERVICING RATIO Rock? Read This!

What’s My Home Value?

DOWNLOAD: Condo Price, How much, Can I afford?

Read all my articles

DOWNLOAD

Property Market Outlook 2019

http://bit.ly/DOWNLOADPropertyMarketOutlook2019

I will be glad to guide you personally “How to buy and/or sell your property like a Pro” One-to-One Online real-time web-based coaching anytime, anywhere on your PC or mobile.  Questions ? #AskRealtorMani 📞 💬 83004411 http://bit.ly/ClickToWhatsApp 

  

What you will get

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert BelowValue.pdf

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

 

Questions / Need Help? #AskRealtorMani

 

Get a notification for Below Market Value Property Deals Alert, Returned Units, Clearance Sale, Auction Properties, Indicative Valuation Reports, Property Insider News http://bit.ly/ClickToWhatsApp UPTOWN @ FARRER Send me the Brochure, Price List, Unit types & Availability

 

It’s FREE and easy, nothing to lose, just try, start now  http://bit.ly/ClickToWhatsApp 

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

What to do if you can’t meet the TDSR

We’ve discussed the TDSR before on 99.co. But what can you do if you can’t meet this loan restriction? Experts at DollarBack Mortgage have some helpful tips:

What is this TDSR thing that’s getting my loan application denied?

You can find a quick description of the TDSR in our jargon section. But as a quick recap:

The TDSR limits your monthly loan repayments to 60 per cent of your monthly income. For example, say you earn$7,000 per month. Your total home loan repayment, plus any other debt repayments, cannot exceed $4,200.

The TDSR limits your monthly loan repayments to 60 per cent of your monthly income. 

But say you can’t meet the TDSR. You will often be given three simple solutions:

1) Make a bigger down payment

2) Stretch out the loan tenure (thus reducing the monthly repayments), or

3) Simply buy a cheaper house.

But there are other steps you can take

There are other ways to meet the TDSR, that you can try instead of the above. Thanks to the experts at DollarBack Mortgage, who pointed out the following:

  • Inform the bank of any bonuses or commissions you’ve earned
  • Use fixed deposits or share portfolios to raise your effective income level
  • Inform the bank of any rental income you earn
  • Exclude a co-borrower who holds too much debt.

1. Inform the bank of any bonuses or commissions you’ve earned

  • Many banks, when assessing your income, default to looking at three months of your payslips. However, this may not accurately reflect your financial situation.
  • Highlight to the bank any bonuses or commissions you earned recently.
  • If you have earned any bonuses or commissions prior to the three months being assessed, for
  • instance, the bank may be unaware of it.
  • You can highlight this to the bank, and provide 12 months of your payslips instead.

2. Use fixed deposits or share portfolios to raise your effective income level

  • If you have a fixed deposit with the bank, you can highlight this amount to the mortgage banker – the bank might consider you to effectively have a higher income level, if the deposit is sizeable enough.
  • The same can be done if you have a share portfolio in your Central Depository Account (CDA).
  • If you have a fixed deposit with the bank, you can highlight this amount to the mortgage banker.
  • The exact amount by which this impacts your TDSR varies between banks; it is best to consult a home loans broker, to
  • compare between banks (they can also help with the detailed paperwork this method requires).

3. Inform the bank of any rental income you earn

  • If you currently earn rental income on any of your properties, be sure to declare it to the banks. This can add to your income levels, for the purposes of determining your TDSR.
  • For your declared rental income to be valid, you must have an active Tenancy Agreement (TA), with at least six months’ tenancy from the date of your loan application. You must also have a valid stamp duty certificate from IRAS.
  • Declare your rental income to the bank!
  • Note that, as mentioned above, rental income counts as variable income. This means the bank will consider only around 70 per cent of the rental income, when working out your TDSR.

4. Exclude a co-borrower who holds too much debt

  • If there is a co-borrower for the property, such as your spouse or a parent, consider who among you has the biggest debt obligations. If most of the debt is on your co-borrowers, it may be better to exclude them and be the sole borrower.
  • Besides these methods, it’s important to manage your monthly obligations to improve your TDSR numbers.
  • If there’s a co-borrower for the property with big debt obligations, exclude him and be the sole borrower.
  • If you have substantial debts, it’s advisable to start aggressively paying them down, in the six to 12 months preceding your home loan application. The less you owe, the less likely you are to breach the TDSR limit.
  • Which leads us to…

Debt issues and your TDSR

  • The less you owe, the less likely you are to breach the TDSR limit.
  • Take note of the following, to mitigate the impact of debt on your TDSR:
  • 1) Avoid applying for new credit facilities, such as credit cards or personal loans, in the two months prior to a home loan application
  • 2) If you have an outstanding car loan, try to clear it at least one month before making a home loan application.
  • 3) Your credit report, which is what the banks use to check your debt obligations, is refreshed on a monthly basis. This means you always have at least a one-month head start, to clear any existing debts before your home loan application (you can obtain a copy of your credit report from the Credit Bureau of Singapore (CBS) website, for a fee of $6.42).
  • 4) Having never had debt before is not good either. This will cause your credit report to show a grade of “Cx”, which means the system cannot assess how reliable you are with loan repayments. If you’ve never used credit before, take a small loan from the bank ($1,000, or apply for a credit card and charge something to it), and then pay it back. You can do this in the month or two prior to your loan application.

Read more…

5 THINGS TO KNOW ABOUT THE NEW CPF RULES WHEN BUYING PROPERTY Shortcuts – The Easy Way

5 THINGS TO KNOW ABOUT THE NEW CPF RULES WHEN BUYING PROPERTY Shortcuts – The Easy Way

Why 5 THINGS TO KNOW ABOUT THE NEW CPF RULES WHEN BUYING PROPERTY Is The Only Thing You Really Need!

What’s My Home Value?

DOWNLOAD: Condo Price, How much, Can I afford?

Read all my articles

DOWNLOAD

Property Market Outlook 2019

http://bit.ly/DOWNLOADPropertyMarketOutlook2019

I will be glad to guide you personally “How to buy and/or sell your property like a Pro” One-to-One Online real-time web-based coaching anytime, anywhere on your PC or mobile.  Questions ? #AskRealtorMani 📞 💬 83004411 http://bit.ly/ClickToWhatsApp 

  

What you will get

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

 

Questions / Need Help? #AskRealtorMani

 

Get a notification for Below Market Value Property Deals Alert, Returned Units, Clearance Sale, Auction Properties, Indicative Valuation Reports, Property Insider News http://bit.ly/ClickToWhatsApp https://youtu.be/Qb6Rqp87yD8

 

It’s FREE and easy, nothing to lose, just try, start now  http://bit.ly/ClickToWhatsApp 

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

HDB Housing Loan Rules

Rules on CPF usage and HDB housing loans updated to ensure homes for life

New rules on CPF use, HDB loans to nudge buyers towards homes they will not outlive

New rules on CPF use, HDB loans to nudge buyers towards homes they will not outlive

CPF, HDB housing loan rules for buying older properties updated

CPF, HDB housing loan rules for buying older properties updated

5 Things to Know About the New CPF Rules When Buying Property

Starting on 10th May, the rules for using CPF to buy property have changed. Here are the essential things to know:

1. The property lease must cover the youngest buyer till the age of 95

For example, say you’re 40 years old, and your spouse is 37. You both buy a house with a remaining lease of 40 years. This is not sufficient to reach the age requirement of 95: your spouse, the youngest buyer, will only be 77 when the lease runs out.

The new rules dissuade younger buyers from purchasing older leasehold properties.

Under these circumstances, CPF usage will fall to 90 per cent of the valuation limit (the lower of the purchase price or valuation), rather than 100 per cent. Also, if an HDB loan is used for the property, then the LTV can be lower than the usual 90 per cent. The LTV will be prorated; it varies based on the extent to which the youngest buyer can be covered till the age of 95.

As such, the new rule dissuades younger buyers from purchasing older leasehold properties.

2. You can now use your CPF to buy a property as long as there’s at least 20 years on the lease

Via the old rules, this was a strict no-no. A property had to have 30 years on the lease, before you were allowed to use your CPF for it. Now, however, you can still use your CPF as long as at least 20 years are left (subject to the restrictions in point 1).

3. The old “60 year limit” on HDB housing loans is gone

If the flat’s lease can last till you’re 95, and there are at least 20 years left, you can get the full HDB housing loan. That means you can borrow up to 90 per cent of the flat’s value, and pay the remaining 10 per cent with CPF.

If the flat’s lease can last till you’re 95, and there are at least 20 years left, you can get the full HDB housing loan.

This does away with the old rule, which restricted your CPF use if the flat had 60 years or less on the lease. Under the old system, for example, your maximum CPF use for a flat with 60 years left on the lease would have been 80 per cent of the valuation limit (regardless of your age).

4. Your property lease needs to last till you’re 95, if you want to withdraw more than the Basic Retirement Sum

Under the old rules, when you’re 55, you can withdraw any CPF money above your Basic Retirement Sum (if you pledge a property with a lease of at least 30 years remaining)

Okay, don’t punch your screen, but…

If your lease can’t stretch till you’re 95, you can’t withdraw as much when you’re 55.

Now, you can only do that if you have a property with a lease that lasts till you’re 95 (barring the usual $5,000 minimum). In effect, this means you need to pledge a property with at least 40 years left on it.

And if you want to buy multiple properties, it gets worse. If your remaining lease doesn’t stretch till you’re 55, you need to set aside the full retirement sum (that’s twice your basic retirement sum) before you can use any remaining CPF money to buy another property.

5. This is a big pivot, from focusing on remaining lease to focusing on sufficient lease

Prior to this, most policies were designed around the concept of how many years are left on the lease. Under the new approach, it doesn’t matter so much how many years are left on the lease (so long as at least 20 years are left). What matters is whether your lease can last you for the maximum likely span of your existence (95 years).

What matters with this new policy is whether your lease can last you for the maximum likely span of your existence (95 years).

This could slightly push up the value of older properties, which started to see values plunge sharply once there was 30 years or less on the lease (now they have another 10 years of saleability).

The other effect is that it makes it harder for younger buyers to purchase older properties (because the age of the youngest buyer is used, to determine if the lease can last till 95). Conversely, it makes it easier for older buyers to purchase older properties; they face fewer loan restrictions simply due to the low remaining lease

Read more…

Rules on CPF usage and HDB housing loans updated to ensure homes for life

home buyers can draw more from their Central Provident Fund to buy ageing flats from Friday (May 10), provided the property’s remaining lease covers the youngest buyer till the age of 95.

What’s My Home Value?

DOWNLOAD: Condo Price, How much, Can I afford?

Read all my articles

DOWNLOAD

Property Market Outlook 2019

http://bit.ly/DOWNLOADPropertyMarketOutlook2019

I will be glad to guide you personally “How to buy and/or sell your property like a Pro” One-to-One Online real-time web-based coaching anytime, anywhere on your PC or mobile.  Questions ? #AskRealtorMani 📞 💬 83004411 http://bit.ly/ClickToWhatsApp 

  

What you will get

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

 

Questions / Need Help? #AskRealtorMani

 

Get a notification for Below Market Value Property Deals Alert, Returned Units, Clearance Sale, Auction Properties, Indicative Valuation Reports, Property Insider News http://bit.ly/ClickToWhatsApp https://youtu.be/Qb6Rqp87yD8

 

It’s FREE and easy, nothing to lose, just try, start now  http://bit.ly/ClickToWhatsApp 

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

HDB Housing Loan Rules

Rules on CPF usage and HDB housing loans updated to ensure homes for life

New rules on CPF use, HDB loans to nudge buyers towards homes they will not outlive

New rules on CPF use, HDB loans to nudge buyers towards homes they will not outlive

CPF, HDB housing loan rules for buying older properties updated

CPF, HDB housing loan rules for buying older properties updated


How much buyer’s stamp duty (BSD, ABSD) do I have to pay? (Residential & (Non-Residential)

Why Ignoring HOW MUCH BUYER’S STAMP DUTY DO I HAVE TO PAY? Will Cost You Time and Money

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What’s My Home Value?

DOWNLOAD: Condo Price, How much, Can I afford?

Read all my articles

DOWNLOAD

Property Market Outlook 2019

http://bit.ly/DOWNLOADPropertyMarketOutlook2019

I will be glad to guide you personally “How to buy and/or sell your property like a Pro” One-to-One Online real-time web-based coaching anytime, anywhere on your PC or mobile.  Questions ? #AskRealtorMani 📞 💬 83004411 http://bit.ly/ClickToWhatsApp 

  

What you will get

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

 

Questions / Need Help? #AskRealtorMani

 

Get notification for Below Market Value Property Deals Alert, Returned Units, Clearance Sale, Auction Properties, Indicative Valuation Reports, Property Insider News http://bit.ly/ClickToWhatsApp UPTOWN @ FARRER Send me the Brochure, Price List, Unit types & Availability

 

It’s FREE and easy, nothing to lose, just try, start now  http://bit.ly/ClickToWhatsApp 

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

http://get.edgeprop.sg/buyers-stamp-duty/

http://get.edgeprop.sg/buyers-stamp-duty-non-resi/

Find Out How These 5 Exit Strategies to Determine the Right Price to Sell Your Property Now!

Stop Wasting Time And Start 5 EXIT STRATEGIES TO DETERMINE THE RIGHT PRICE TO SELL

Over 50 new launches in the pipeline! Should I wait further? Will the Price to Drop?

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 Limited Seats. Register HERE!

RSVP now! 👉 >> http://bit.ly/ClickToWhatsApp << 📞 💬 +6583004411 

What’s My Home Value?

DOWNLOAD: Condo Price, How much, Can I afford?

Read all my articles

DOWNLOAD

Property Market Outlook 2019

http://bit.ly/DOWNLOADPropertyMarketOutlook2019

I will be glad to guide you personally “How to buy and/or sell your property like a Pro” One-to-One Online real-time web-based coaching anytime, anywhere on your PC or mobile.  Questions ? #AskRealtorMani 📞 💬 83004411 http://bit.ly/ClickToWhatsApp 

  

What you will get

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

 

Questions / Need Help? #AskRealtorMani

 

Get notification for Below Market Value Property Deals Alert, Returned Units, Clearance Sale, Auction Properties, Indicative Valuation Reports, Property Insider News http://bit.ly/ClickToWhatsApp UPTOWN @ FARRER Send me the Brochure, Price List, Unit types & Availability

 

It’s FREE and easy, nothing to lose, just try, start now  http://bit.ly/ClickToWhatsApp 

 

·      FREE Indicative Valuation & CMA Report for your property http://bit.ly/CMAHomeReport

·      Below Market Value Property Deals Alert http://bit.ly/BelowValue

·      Insider property news and resources that property investors use. http://bit.ly/CondoPrice

There is a high tendency for many people to hold on to their properties for a long period of time even though their properties have appreciated to double the amount of what they have purchased. Is this the best option for properties which have appreciated?

 

In fact, there is nothing wrong with holding on to the property, but I just felt that many money-making opportunities have been forgone when this option is being chosen. Ask yourself this Question, by working hard for the last 5 years, are you able to save $300,000? I am quite sure it is not possible as I have personally witnessed many couples facing difficulty to attain this feat. Do you know that you can increase your saving by learning the Right Exit Strategies that will help you to build your wealth systematically? 

 

Many of you might be skeptical and will question the RISK involved. Yes, if there is no proper guidance and feasible financial plan, the risk will be so much higher. Therefore, it is always good to learn and plan before taking any ACTION.

Important Chart to take note! What are your thoughts now?

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This is the real estate trend of a property, is your asset in this pulses? Is it good or bad? What should you do?

 Limited Seats. Register HERE!

RSVP now! 👉 >> http://bit.ly/ClickToWhatsApp << 📞 💬 +6583004411 

New Launches vs Resale?

Which is a Better Buy Today?

Why RESALE Prices are cheaper than New Launches? Does it mean that we should buy if it is CHEAP?

Have you ever wonder why the resale prices are much cheaper and yet many people still choose to pay more for New Launches?

Look at the below chart on one of the new launches, Martin Modern. Why is it that the price has shot up from $2,000psf to more than $3,000psf in less than 2 years? In some instances, the prices of Freehold projects did not even reach $3,000psf. Do you want to know WHY?

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So the Question now is:

 

Is it worth to buy New Launch or Resale?

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MAD RUSH TO SNATCH A UNIT…

IS THIS REALLY THE BEST DEAL???

This happened during a new launch where everyone is trying to get a unit. Will you buy when you see this situation in the showflat? Many times, we saw people interpret long queues as buying good deal and will rush to get a unit when they see such situation. When this happens, I always refer it as the “Kiasu” syndrome.

 

Is this the way to determine the RIGHT ENTRY PRICE? I have seen many people making such decision without differentiating right from wrong. Do you know that one mistake make by emotion may cost you more than hundreds of thousands of dollars? If any of these questions are in your mind, discover how you can easily determine the right entry price to enter the market. 

What you will learn from this seminar?

1. Find the sweet spot of how to determine the Right Pricing

2. 5 Exit Strategies that you MUST know before buying your next asset! 

3. Avoid Critical mistakes made by most Home Owners when it comes to selling! 

4. New Launch Vs Resale, 

which is the better option? 

5. TOP Secrets revealed on how many Wealthy home owners grow their wealth through asset-progression plan!

 Limited Seats. Register HERE!

RSVP now! 👉 >> http://bit.ly/ClickToWhatsApp << 📞 💬 +6583004411 

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Find out what is best for you with

PropNex Executive Director,

Kelvin Fong

With his career experience of more than 16 years, he has curated a set of asset progression which has benefited his clients greatly. For current and aspiring Singapore property investors, his role is to help them invest wisely. Not only that, he has consistently minimised many of his clients’ risks by leveraging on the most suitable loans available, while maximising the profit potential of their investments.

Being a property investor, he has never invest based on speculation and emotion buying. Using his experience and hard facts and figures, he determines the RIGHT property to invest.

To put his knowledge into writing, Kelvin also successfully launched the book – Property Wealth, in 2013. A big hit back then – the book coaches investors step-by-step guides on conducting researches before purchasing their properties.

Cited with real life case studies, Kelvin pens down realistic and detail methodology which ensures reader to grow their wealth in a predictable way.

  Limited Seats. Register HERE!

RSVP now! 👉 >> http://bit.ly/ClickToWhatsApp << 📞 💬 +6583004411 

CONSUMER SEMINAR

APRIL 30 TUESDAY

REGISTRATION TIME: 6:30PM

LOCATION

Amber Park Sales Gallery

Along Tanjong Rhu Road

(Next to Tanjong Rhu Substation)

Hurry! Grab Your Seat Now!

Kelvin is often featured in the news, publication and podcasts, sharing his valuable insights on the property market.