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38 replies to this topic | 140 praises

#1

Posted 04 January 2018 - 02:45 PM

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Guys, I cant seem to get a definite answer on this. I'm planning to sell my existing place n move nearer to my kids' school. A friend is saying I should take the opportunity to get a HDB resale; as in my wife buy a resale HDB and I buy the condo but each of us has to finance each property individually.

 

Is this allowed?



#2

Posted 04 January 2018 - 04:07 PM

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Guys, I cant seem to get a definite answer on this. I'm planning to sell my existing place n move nearer to my kids' school. A friend is saying I should take the opportunity to get a HDB resale; as in my wife buy a resale HDB and I buy the condo but each of us has to finance each property individually.

 

Is this allowed?

 

What you are refering to is decoupling. But to even qualify to buy a resale HDB, you got to form a family nucleus or qualify under some other schemes that I am not so sure (you can check hdb website). So, it means your name will probably be used as an occupier, hence may not have vested interest in private properties if you did not meet MOP (correct me if I am wrong).

 

I have friends who did decoupling, and usually they bought 2 private properties under their own names. 


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#3

Posted 04 January 2018 - 04:48 PM

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Guys, I cant seem to get a definite answer on this. I'm planning to sell my existing place n move nearer to my kids' school. A friend is saying I should take the opportunity to get a HDB resale; as in my wife buy a resale HDB and I buy the condo but each of us has to finance each property individually.

 

Is this allowed?

 

Bro, what you actually want...? You want to siam ABSD?

 

Your case; If you sell you existing HDB, the resale HDB you going to buy, must buy together with your wife. This is HDB rule. 

Buying HDB resale, you need to fulfilled one of the conditions... citizenship, age, family nucleus, special condition...

 

It is obvious that you are under family nucleus scheme. So you have to buy with your wife.

 

So, if, after you bought the resale HDB with your wife and fulfilling the MOP, you two can buy private properties.

 

Previously, in order to siam ABSD, many couple decouple. But this decouple rule had changed since 2016 April. So, under normal condition decoupling is not allow. 

 

My 2 cents worth.


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#4

Posted 04 January 2018 - 04:59 PM

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as the other forummers have pointed out. U need to be part of a family nucleus to buy a resale HDB.

 

If u buy under a single name, u have to be single essentially.

 

https://services2.hd...strSystem=CHECK


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#5

Posted 04 January 2018 - 05:13 PM

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I see, so the rules have changed

 

Im staying in a condo now. original intention is just to sell current and buy another condo. But a friend said y not buy a HDB & a condo at the same time so that's y I search around if possible. Some ppl say can some cannot.

 

So for my case, if I want to buy 2 properties and avoid any additional fees/taxes, is to buy 2 private properties?

 

and if I buy HDB, I need to stay for 5 years before buying a condo even if I pay full for the HDB?

 

 


Edited by KiaCeratoHB, 04 January 2018 - 05:16 PM.


#6

Posted 04 January 2018 - 05:14 PM

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Guys, I cant seem to get a definite answer on this. I'm planning to sell my existing place n move nearer to my kids' school. A friend is saying I should take the opportunity to get a HDB resale; as in my wife buy a resale HDB and I buy the condo but each of us has to finance each property individually.

Is this allowed?

Can.















把老婆休了......
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#7

Posted 04 January 2018 - 05:22 PM

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I see, so the rules have changed

 

Im staying in a condo now. original intention is just to sell current and buy another condo. But a friend said y not buy a HDB & a condo at the same time so that's y I search around if possible. Some ppl say can some cannot.

 

So for my case, if I want to buy 2 properties and avoid any additional fees/taxes, is to buy 2 private properties?

 

and if I buy HDB, I need to stay for 5 years before buying a condo even if I pay full for the HDB?

 

yeah 5 years MOP for resale which is quite bo hua. considering u can no longer decouple.



#8

Posted 04 January 2018 - 05:25 PM

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yeah 5 years MOP for resale which is quite bo hua. considering u can no longer decouple.

 

y bo hua?

 

I wasn't thinking about it previously but now thinking its a possible option. can rent out after 5 years.

but not sure if family is ok to move to HDB for 5 years.



#9

Posted 04 January 2018 - 05:38 PM

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y bo hua?

 

I wasn't thinking about it previously but now thinking its a possible option. can rent out after 5 years.

but not sure if family is ok to move to HDB for 5 years.

 

you can't remove your name after that 5 years.

u still will incur 7% ABSD for any PC purchase subsequently (based on current rules). Why would u want to pay 7% to govt for no reason?

Might as well choose 2 PC within your means and save that 7% right.

 

Basically if u want to have 2 properties, an HDB is not the best option to be 1 of these 2 properties right now.


Edited by Lala81, 04 January 2018 - 05:38 PM.

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#10

Posted 05 January 2018 - 09:02 AM

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I see, so the rules have changed

 

Im staying in a condo now. original intention is just to sell current and buy another condo. But a friend said y not buy a HDB & a condo at the same time so that's y I search around if possible. Some ppl say can some cannot.

 

So for my case, if I want to buy 2 properties and avoid any additional fees/taxes, is to buy 2 private properties?

 

and if I buy HDB, I need to stay for 5 years before buying a condo even if I pay full for the HDB?

OK.. if private property will be very much easier...

 

in order to have 2 properties and without paying ABSD... there are ways...

 

first... your current condo under whose name... under your name or your wife name (in another word, only one name in the property) then it easy, the other parties name not in the property, go buy another one... no ABSD involve. This is very straight forward.

 

If the current condo under both name... the question will ask is, is the condo fully paid already?

If it is fully paid, then either party can give the private property as gift to the other party. (normal stamp duty and gift deed tax need to paid). So the party without name, can go buy properties without paying ABSD. 

 

If the current condo under both name and it is not fully paid:

2 of you can do part-purchase for de-coupling the property. Meaning either one party buy over the other party property share. So the property become only having one name. (normal stamp duty still apply, but this method pay lesser)

So after removing the party name, he or she can buy property without paying ABSD.

 

Do remember, the normal tax is based on the current property market value. Banker needs to do valuation. For part-purchase, the tax paid is based on the portion, not the full amount. Do remember, if the property payment (down-payment, progressive payment, installation and etc,) involve the CPF, then it is require to return the amount back to the CPF.

 

If you are serious, find a law firm and check it out. we can only given general advice.

 

my 2 cents worth. 


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#11

Posted 05 January 2018 - 09:48 PM

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Even if you buy HDB first, you still have to wait 5 years MOP and also pay 7% ABSD on PC.

 

You cannot buy a condo and HDB at the same time.



#12

Posted 05 January 2018 - 09:56 PM

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I see, so the rules have changed

Im staying in a condo now. original intention is just to sell current and buy another condo. But a friend said y not buy a HDB & a condo at the same time so that's y I search around if possible. Some ppl say can some cannot.

So for my case, if I want to buy 2 properties and avoid any additional fees/taxes, is to buy 2 private properties?

and if I buy HDB, I need to stay for 5 years before buying a condo even if I pay full for the HDB?

did your agent suggest to you to get “divorce”
sure can buy 1 hdb and 1 condo and siam absd ... lol
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#13

Posted 05 January 2018 - 10:47 PM

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Guys, I cant seem to get a definite answer on this. I'm planning to sell my existing place n move nearer to my kids' school. A friend is saying I should take the opportunity to get a HDB resale; as in my wife buy a resale HDB and I buy the condo but each of us has to finance each property individually.

 

Is this allowed?

 

A short answer is NO.

 

HDB Resale must have both names. So if you buy HDB, you certainly have to wait for MOP to be over before you can buy another private (and pay ABSD). Now this route is only possible if you or your wife is a Singaporean. If both PR, then sorry, you cannot own a HDB resale and private property at the same time.

 

For decoupling, not every couple also can decouple. It has conditions so this have to be check first. 

 

PM me if you are serious about Portfolio restructuring. 


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#14

Posted 06 January 2018 - 10:19 AM

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A short answer is NO.

 

HDB Resale must have both names. So if you buy HDB, you certainly have to wait for MOP to be over before you can buy another private (and pay ABSD). Now this route is only possible if you or your wife is a Singaporean. If both PR, then sorry, you cannot own a HDB resale and private property at the same time.

 

For decoupling, not every couple also can decouple. It has conditions so this have to be check first. 

 

PM me if you are serious about Portfolio restructuring. 

 

I still confuse on the different level of sale levy.

 

If you sold much earlier in 1995 and now wants to buy a HDB vs you sold in 2010 and now wants to buy resale to payback HDB ...

 

One has a capped amount, one has a compounded amount.



#15

Posted 06 January 2018 - 12:06 PM

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There is another method to reduce the ABSD.
Hint. Buy with a parent who does not have a property. You have to have loads of moolah to do it though cos more complicated. Any agent worth his salt should know.....
😜

#16

Posted 12 January 2018 - 10:48 AM

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I see, so the rules have changed

Im staying in a condo now. original intention is just to sell current and buy another condo. But a friend said y not buy a HDB & a condo at the same time so that's y I search around if possible. Some ppl say can some cannot.

So for my case, if I want to buy 2 properties and avoid any additional fees/taxes, is to buy 2 private properties?

and if I buy HDB, I need to stay for 5 years before buying a condo even if I pay full for the HDB?

I would advise buying an hdb n wait out the mop if you wish to earn rental income in future coz hdb rental is hard to beat unless you are talking about overseas pty. If you are scared that you will miss out in the pty mkt, can always buy a commercial pty (industrial space, not retail).

#17

Posted 12 January 2018 - 11:28 AM

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I would advise buying an hdb n wait out the mop if you wish to earn rental income in future coz hdb rental is hard to beat unless you are talking about overseas pty. If you are scared that you will miss out in the pty mkt, can always buy a commercial pty (industrial space, not retail).

 

If you buy a HDB for rental after MOP then how are you going to buy a PP in the future?

 

With ABSD, I don't see it being worth it at all.


That is all.

#18

Posted 12 January 2018 - 01:45 PM

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If you buy a HDB for rental after MOP then how are you going to buy a PP in the future?

With ABSD, I don't see it being worth it at all.

The pty mkt has not truly corrected, what makes you think that someone entering 5 years later will get priced out? Agents say that?

#19

Posted 03 February 2018 - 10:11 AM

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The pty mkt has not truly corrected, what makes you think that someone entering 5 years later will get priced out? Agents say that?


I agree...the market has not fully corrected UPWARDS...its only just started moving up in terms of number of transactions and prices (resale, new sale, land price that Developers are paying to govt).So do listen to bears and wait some more. Pls don’t listen to agents, analysts as ONLY they are vested. Bears have no secret agenda for prices to be low.
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#20

Posted 03 February 2018 - 10:47 PM

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I agree...the market has not fully corrected UPWARDS...its only just started moving up in terms of number of transactions and prices (resale, new sale, land price that Developers are paying to govt).So do listen to bears and wait some more. Pls donât listen to agents, analysts as ONLY they are vested. Bears have no secret agenda for prices to be low.

What kind of rental yield you expect from your property? 0.1%? Lol


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