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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Renting A Home In Singapore – Here’s What Tenants Should And Should Not Expect To Pay For

Best to understand what you should pay for rather than lose out. (via dollarsandsense.sg)

By Ching Sue Mae via dollarsandsense.sg

SINGAPORE — Renting housing units in Singapore is common, especially with Singapore being one of the most attractive countries for expats to live and work in. Very often, these rental units are leased by expats who are often unsure of how long they will be staying in the country or permanent residents.

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What Happens To Your Money After You Sell Your Flat In Singapore

Know exactly where your money will be going. (via dollarsandsense.sg)

By Dinesh Dayani (via dollarsandsense.sg)

Everyone in Singapore should fully understand what really happens to our money once we have sold our HDB flat, private condominium or landed property in Singapore. This is so we can prudently use the money we have for financial planning purposes – investing, buying another property, even starting a business or promising to pay for your children’s education.

Often, people receive less in cash than they had expected for various reasons. If they commit to using the bulk of that money for other purchases or investments, they may be in for a rude shock after seeing the cash balance in their bank accounts.

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Seller’s stamp duties cut as Government eases some property cooling measures

SINGAPORE — Home owners will only have to wait three years before selling their properties to avoid paying seller’s stamp duties (SSD), down from four years currently, under several adjustments made to property cooling measures.

With effect from Saturday (Mar 11), those who sell their properties within three years will also pay less in SSD, according to a joint press release by the Ministry of Finance, Ministry of National Development and Monetary Authority of Singapore on Friday.

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Govt eases property cooling measures: sellers’ stamp duty holding period now 3 years, rates cut; TDSR relaxed for retirees needing cash

SINGAPORE – The Government has relaxed some property cooling measures on the sellers’ stamp duty (SSD) front as well as the total debt servicing ratio framework (TDSR). The new rules take effect from March 11.

The SSD is currently payable by those who sell a residential property within 4 years of purchase, at rates of between 4 per cent and 16 per cent of the property’s value

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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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