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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5 Advantages to Buying an HDB Flat As Early On In Life As Possible

By Joanne Poh, via moneysmart.sg

Buying a home in Singapore is a complicated procedure. Unless you’ve got the dough for private property, you’re pretty much stuck playing by the HDB’s rules: get married or be over 35. For most people, that means when you can buy a home is something that has to be left up to fate.

But buying a home as early as you can does have its advantages, assuming you can find somebody who is willing to do so with you. Here’s why:

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5 Reasons Renting a Home Instead of Buying Might Not be Such a Terrible Idea

By Joanne Poh, via moneysmart.sg

Owning a home is one of the most important items on Singaporeans’ checklist of life goals. And based on how horribly expensive it is to rent here, it’s easy to see why.

Renting a home or even just a room, even if it’s the only way for a 40-year-old virgin to get out from under his parent’s thumb, is usually frowned upon as a waste of money that could otherwise go towards saving for a downpayment.

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