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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Should You Buy or Rent Your Next Home in Singapore?

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By Joanne Poh (via moneysmart.sg)

There is a reason the overwhelming majority of Singaporeans continue to live with their parents until they’re married—the right to walk around naked at home isn’t worth dying of starvation for.

While married couples and over-35s can take advantage of government grants to buy HDB flats, the rental market is another story. The cost of renting the cheapest possible one bedroom condo unit in Singapore in an area as far flung as Bukit Panjang can cost around $1,500 a month, and when you get closer to the city fringe you can end up paying 50% to 100% more.

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5 Things You Should Bear in Mind Before Listing Your Place on Airbnb in Singapore

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SINGAPORE — It’s a modern day horror story–the tragic tale of how two HDB flat owners got their homes confiscated by the authorities after renting out their flats on Airbnb has struck fear into the hearts of indignant Singaporeans. Welcome to Singapore, where the biggest thing threatening your home isn’t a natural disaster or fire but the heavy hand of the HDB.

Still, judging by the number of listings on Airbnb, scores of people are still renting out their properties. If you own a condo unit or a house, you might think you can rent your property out to tourists with impunity, since URA has not clamped down on private property owners after all these years. But make sure you bear in mind these five things first.

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