Single Parent in Singapore – Guide to Grants, Subsidies And Financial Assistance

By Joanne Poh, via moneysmart.sg

Singapore’s laws remain depressingly old-fashioned when it comes to certain things. And nowhere is this clearer than in the way single parents are penalised. It’s almost as if it’s your fault for being a single parent.

While a lot has been done to make parenthood less financially taxing such as the Baby Bonus and HDB subsidies, single parents are often left out in the cold and denied the same degree of support.

This despite the fact that it is often precisely single parents who need help most in the absence of a spouse to share the physical, emotional and financial burden of raising a child.

If you or someone you know is on the brink of single parenthood, this guide will help you to see at a glance which grants, subsidies and financial assistance you qualify for.

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When to Refinance Your Home Loan in Singapore

By Joanne Poh (via moneysmart.sg)

Singapore — Your home loan is probably the single biggest financial commitment you’ll ever take on, and one you could spend the next few decades paying for. Given the magnitude, you obviously want to ensure you lighten the load as much as possible. That’s why it’s so important to be aware of when it’s time to refinance your home loan.

It can save you thousands of dollars over the years, raise your capital gains on resale and basically make your expensive home purchase a bit less expensive.

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99-year HDB Flats – 5 Things Singaporeans Should Recognise About Them

By Joanne Poh, via moneysmart.sg

SINGAPORE — Pool together all your resources, buy a home, and become an overnight millionaire by selling it off years later—that is, in a nutshell, the Singaporean dream.

The promise of your flat funding your retirement is no doubt a key motivator to those who empty their CPF accounts and sign up for massive loans to buy a home.

That all sounds reasonable enough, until you realise that most residential property in Singapore is on a 99-year lease.

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What is the Cost of Refinancing in Singapore and is it Worth It?

By Lynette Goh, via moneysmart.sg

SINGAPORE — So you’ve just seen how much you’re paying this month on your home loan, and you’re seriously considering switching to another bank with the lower interest rates… Except you don’t know if refinancing is a good choice. Will it really be able to save you money in the long-term? Is the cost of refinancing really worth it? Here are some costs you will encounter when refinancing your home loan:

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En Bloc Sales: How Much Do Private Property Home Owners Stand to Gain?

By Joanne Poh, via moneysmart.sg

SINGAPORE — Many Singaporean property owners think of en bloc sales as 4D or Toto, but with better odds.

But the reality is a little different, if you understand how en bloc sales work. Basically, you are getting paid to vacate your property. That means that, unless you have somewhere else to live, you will have to use that cash to buy another home.

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4 Things You Didn’t Know About Property Valuations in Singapore

By Lynette Goh, via moneysmart.sg

In a perfect world, I’d be buying homes for a dollar and selling them off at a million each. But hey, this isn’t the land of make believe. We have property valuations to prevent people from overpricing their homes, and to prevent us from becoming the schmucks that buy those. Here’s 4 things you didn’t know about property valuations (or at least, I didn’t):

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Home Loans: All the Crazy Jargon Bankers Like to Use, Explained in Simple English

By Lynnette Goh, via moneysmart.sg

Sometimes adulting can be really difficult. Especially when we’re trying to get a home in Singapore and we know zilch about the terms used in home loans. All these home loan terms and jargon bankers are using… What if we accidentally sign our life away to slavery?

In the event of a dispute, our chances of wriggling free are probably about the same as a sick snail in a Sumo wrestler’s armpit. In court, we can’t tell the judge we didn’t know what this or that term meant, ignorance just isn’t a legit excuse in the court of law. Here’re a few basic terms that you’ll encounter in your home-buying process and what they mean:

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