View Full Version : Advice anyone?
Here's my situation.
Looking to either get an EC or a FH mm
EC
PRO
Bigger area
Deferred payment
Better rental yield?
higher potential for increase in value?
Con
Must wait 5 years before renting
LH
less ideal location
FH mm
Pro
FH
Can rent out ASAP
better location
con
smaller
lower rental yield
Here's my situation.
Looking to either get an EC or a FH mm
EC
PRO
Bigger area
Deferred payment
Better rental yield?
higher potential for increase in value?
Con
Must wait 5 years before renting
LH
less ideal location
FH mm
Pro
FH
Can rent out ASAP
better location
con
smaller
lower rental yield
Close one eye n whack e EC if e locations r comparable.
ikan bilis
06-04-12, 21:38
my choice...
if for own stay, whack dual-key EC....
if for investment, whack 2x LH99 MMs...
:rolleyes: ;)
If you qualify for EC, you should buy EC. If you calculate the rent you can get over 95 years, it will still work out to be a better buy.
Do you know why gov build EC?
rymccondo77
07-04-12, 00:38
Do you know why gov build EC?
My view - Cater to HDB upgraders who want private condo facilities but find private condo prices too high (these upgraders generally need bigger spaces because of family size so MM units which are of lower quantum are not for them).
rymccondo77
07-04-12, 00:56
Here's my situation.
Looking to either get an EC or a FH mm
EC
PRO
Bigger area
Deferred payment
Better rental yield?
higher potential for increase in value?
Con
Must wait 5 years before renting
LH
less ideal location
FH mm
Pro
FH
Can rent out ASAP
better location
con
smaller
lower rental yield
If you are looking for rentals as an investor, then ECs are not for you.
There are 3 / 4 Bedroom dual key units in EC which you can rent out the studio apartment unit (seen as one room) - you will have to comply with HDB's subletting conditions (one of which you have to be staying in the unit during the lease period). Many would be buying such units because of family reasons (e.g. will be staying with parents, in-laws, siblings).
Here's my situation.
Looking to either get an EC or a FH mm
EC
PRO
Bigger area
Deferred payment
Better rental yield?
higher potential for increase in value?
Con
Must wait 5 years before renting
LH
less ideal location
FH mm
Pro
FH
Can rent out ASAP
better location
con
smaller
lower rental yield
Pointless question. How can EC be compared to FH MM? both are bought for different reasons. Not everyone can buy EC. If you are able to then what are u thinking of renting it out? Pure nonsense.
My view - Cater to HDB upgraders who want private condo facilities but find private condo prices too high (these upgraders generally need bigger spaces because of family size so MM units which are of lower quantum are not for them).
Gov build EC only when property is at the peak.
When I buy my 2 Bedroom @ Southbank, the property market at the bottom, gov don't build EC at the bottom. My friend brought a resale EC and have to sell his HDB and feel very happy. I told him I just brought a private condo and keeping my HDB.
Tharman: Govt working to cool property market.
Pointless question. How can EC be compared to FH MM? both are bought for different reasons. Not everyone can buy EC. If you are able to then what are u thinking of renting it out? Pure nonsense.
Why nonsense? I'm one of those people who can't really afford a big private condo but wanna stay with my parent after marriage.
Thus I was thinking either buying a mm and rent out while I stay with my parents. Or an ec to stay with them and rent out their hdb.
phantom_opera
07-04-12, 07:28
Tharman: Govt working to cool property market.
It could mean flat market ...not necessary translates to correction
At the end inflation / income growth matters most
Allthepies
07-04-12, 09:44
Do you know why gov build EC?
To satisfy the desire of a group of middle class using tax money from the other group of middle class? Basically it's a popular decision, so it may not be beneficial to the whole nation.
EC is gap filler and neither here nor there when it comes to investment class as too many restrictions and policy risks. Who knows tomorrow govt suddenly say only can rent out after 10yrs then you caught with pants down. As it is, hdb already pending new rental restrictions... Just you watch.
EC
PRO
Bigger area
Deferred payment
Better rental yield?
higher potential for increase in value?
Con
Must wait 5 years before renting
Why nonsense? I'm one of those people who can't really afford a big private condo but wanna stay with my parent after marriage.
Thus I was thinking either buying a mm and rent out while I stay with my parents. Or an ec to stay with them and rent out their hdb.
if ur parents are going to stay with u in ur new EC, why did u mention about renting out ur EC?:beats-me-man:
This is gonna be your own domestic issue.
If your parents stay with you in your EC, who's collecting the HDB rent?
If you stay with your parents in their HDB, who's collecting the rent of the MM?
Hence i think it's a nonsensical question.
:2cents:
To satisfy the desire of a group of middle class using tax money from the other group of middle class? Basically it's a popular decision, so it may not be beneficial to the whole nation.
To maximize profit during a property boom. Does it make sense to release land sites during a downturn?
EC is gap filler and neither here nor there when it comes to investment class as too many restrictions and policy risks. Who knows tomorrow govt suddenly say only can rent out after 10yrs then you caught with pants down. As it is, hdb already pending new rental restrictions... Just you watch.
It is really a joke how newly weds can consider their new BTO/EC purchase as property investments.
if ur parents are going to stay with u in ur new EC, why did u mention about renting out ur EC?:beats-me-man:
This is gonna be your own domestic issue.
If your parents stay with you in your EC, who's collecting the HDB rent?
If you stay with your parents in their HDB, who's collecting the rent of the MM?
Hence i think it's a nonsensical question.
:2cents:
Grown ups should give their parents a break.... Pls. After they take care of you now you want them to take care of you some more after marriage - than after that take care of your xyz kids...??? However if you continue staying with your parents is to earn extra income and use it to pay for their medical etc and look after them coz they too old cant look after themselves properly than I take back all my words and salute you with great respects...
Not saying anyone here does it. But seriously, govt encourage newly weds to stay with or near parents for a reason. To take care of them - but in reality, its 99% the other way round. Conveniently drops off the kids for them to take care during work hours and even weekends when they go out enjoy themselves... Or use parents car on weekends without decentcy of paying road tax and ensuring full tank back.... some are even worse - so that can go back parents place for home cooked meal and/or collect done laundry..... I know people actually do that!?!!! To these people I ask - whats the point of getting married if you are going to still trouble your poor parents so much... But some parents also asking for it - they willingly spoil market do all these for their precious married child - what for? Just to see smiling faces on their grandchildren... In the end all worth it. To me, I dunno to laugh or cry for this state of affairs. But maybe thats uniquely Singapore...
shauntanzs
07-04-12, 12:29
Dun be so harsh on newbie lah. He is just lost n need some advice.
Not saying anyone here does it. But seriously, govt encourage newly weds to stay with or near parents for a reason. To take care of them - but in reality, its 99% the other way round. Conveniently drops off the kids for them to take care during work hours and even weekends when they go out enjoy themselves... Or use parents car on weekends without decentcy of paying road tax and ensuring full tank back.... some are even worse - so that can go back parents place for home cooked meal and/or collect done laundry..... I know people actually do that!?!!! To these people I ask - whats the point of getting married if you are going to still trouble your poor parents so much... But some parents also asking for it - they willingly spoil market do all these for their precious married child - what for? Just to see smiling faces on their grandchildren... In the end all worth it. To me, I dunno to laugh or cry for this state of affairs. But maybe thats uniquely Singapore...
Precisely my point of this TS is a joke. :doh: EC vs FH MM. lol :banghead: :banghead: :banghead:
Dun be so harsh on newbie lah. He is just lost n need some advice.
I also newbie la... Heehee. But hope we give him or her serious food for thought.... No offense ok?
Precisely my point of this TS is a joke. :doh: EC vs FH MM. lol :banghead: :banghead: :banghead:
I just wanna take care of my parents and stay with them. But I don't wanna be property-less. It may sound stupid but to me if i have no property but still staying with them, it just seem like im living off them . Although the extra money from rental is useful but not a necessity. I ever consider leaving the ec un-rented for 5 years but my wife say its stupid. She advice that we move in EC and rent out HDB of my parents. The money from the rental was meant for extra allowance for them and may be to help in household needs if there is a lot.
Not saying anyone here does it. But seriously, govt encourage newly weds to stay with or near parents for a reason. To take care of them - but in reality, its 99% the other way round. Conveniently drops off the kids for them to take care during work hours and even weekends when they go out enjoy themselves... Or use parents car on weekends without decentcy of paying road tax and ensuring full tank back.... some are even worse - so that can go back parents place for home cooked meal and/or collect done laundry..... I know people actually do that!?!!! To these people I ask - whats the point of getting married if you are going to still trouble your poor parents so much... But some parents also asking for it - they willingly spoil market do all these for their precious married child - what for? Just to see smiling faces on their grandchildren... In the end all worth it. To me, I dunno to laugh or cry for this state of affairs. But maybe thats uniquely Singapore...
My parents take care of their parents, I take care of them, my children take care of me. That's the way I was brought up.
I just wanna take care of my parents and stay with them. But I don't wanna be property-less. It may sound stupid but to me if i have no property but still staying with them, it just seem like im living off them . Although the extra money from rental is useful but not a necessity. I ever consider leaving the ec un-rented for 5 years but my wife say its stupid. She advice that we move in EC and rent out HDB of my parents. The money from the rental was meant for extra allowance for them and may be to help in household needs if there is a lot.
Alright, my bad then.
Anyway, if u can afford an EC and still qualify for it, go for it. :D :cheers5:
My parents take care of their parents, I take care of them, my children take care of me. That's the way I was brought up.
First, dun make the assumption that ur children will take care of u. In fact, u have to make provision to take care of them.
For your question as to EC or MM FH, I find these are not related choices.
If own stay with family, is EC. From time of application to TOP is 3 years, then 5 years MOP before u can rent out.
I suggest to look into what is your real needs first.
First, dun make the assumption that ur children will take care of u. In fact, u have to make provision to take care of them.
For your question as to EC or MM FH, I find these are not related choices.
If own stay with family, is EC. From time of application to TOP is 3 years, then 5 years MOP before u can rent out.
I suggest to look into what is your real needs first.
I fully agree. When agents ask you (99% when they first meet you they will) whether you are buying for own stay or investment there is a reason and not asking for fun. The recommendations and options may be starkly different depending on your choice.
First, dun make the assumption that ur children will take care of u. In fact, u have to make provision to take care of them.
For your question as to EC or MM FH, I find these are not related choices.
If own stay with family, is EC. From time of application to TOP is 3 years, then 5 years MOP before u can rent out.
I suggest to look into what is your real needs first.
heheh that was my point but too lazy to argue further.
I just wanna take care of my parents and stay with them. But I don't wanna be property-less. It may sound stupid but to me if i have no property but still staying with them, it just seem like im living off them . Although the extra money from rental is useful but not a necessity. I ever consider leaving the ec un-rented for 5 years but my wife say its stupid. She advice that we move in EC and rent out HDB of my parents. The money from the rental was meant for extra allowance for them and may be to help in household needs if there is a lot.
So confusing. So you already have an EC? How to buy another? And now you staying in hdb, or what?
I just wanna take care of my parents and stay with them. But I don't wanna be property-less. It may sound stupid but to me if i have no property but still staying with them, it just seem like im living off them . Although the extra money from rental is useful but not a necessity. I ever consider leaving the ec un-rented for 5 years but my wife say its stupid. She advice that we move in EC and rent out HDB of my parents. The money from the rental was meant for extra allowance for them and may be to help in household needs if there is a lot.
ehhh....if this is the case then how did that FH mm come into the picture? :confused:
Allthepies
07-04-12, 22:22
As it is, hdb already pending new rental restrictions... Just you watch.
Is this based on some inside information or just plain speculation? Thks.
Is this based on some inside information or just plain speculation? Thks.
Gut feel heehee.... See. Reporter2 just posted article about likely cm6
First, dun make the assumption that ur children will take care of u. In fact, u have to make provision to take care of them.
For your question as to EC or MM FH, I find these are not related choices.
If own stay with family, is EC. From time of application to TOP is 3 years, then 5 years MOP before u can rent out.
I suggest to look into what is your real needs first.
Sigh
Here's my situation.
1. Want to stay with my parents
2. Want to own a property
My options
1. Stay with them while I buy a mm. Rent out mm
2. Stay with them while I buy ec. Leave vacant or use as weekend home for 5 years then rent out.
3. All move to ec. Rent out hdb (if my parents are agreeable to move in as they have many friends in the neighbourhood and quite attached if not its option 2)
Money from rental.
1. Allowance for parents
2. Help out in house hod need e.g utility if I'm staying in their hdb
buttercarp
08-04-12, 10:13
Sigh
Here's my situation.
1. Want to stay with my parents
2. Want to own a property
My options
1. Stay with them while I buy a mm. Rent out mm
2. Stay with them while I buy ec. Leave vacant or use as weekend home for 5 years then rent out.
3. All move to ec. Rent out hdb (if my parents are agreeable to move in as they have many friends in the neighbourhood and quite attached if not its option 2)
Money from rental.
1. Allowance for parents
2. Help out in house hod need e.g utility if I'm staying in their hdb
If i have to choose one, I will choose option 3.
Buy an EC while you can.
MM can buy in future.
Why stay in parent's HDB and leave EC vacant for 5 years?
Might as well enjoy the new EC (assuming it is the same size as your parents HDB).
My view
1. stay in HDB with parents, as this is the easiest way to save money especially when ur in the late 20-30s
2. dun buy MM, but save to buy a proper unit in private property
3. buying EC and use as weekend home is too costly and negative return, also so many EC
OR
buy EC and rent out HDB
well, does ur spouse agrees to stay with inlaw?
My view
1. stay in HDB with parents, as this is the easiest way to save money especially when ur in the late 20-30s
2. dun buy MM, but save to buy a proper unit in private property
3. buying EC and use as weekend home is too costly and negative return, also so many EC
OR
buy EC and rent out HDB
well, does ur spouse agrees to stay with inlaw?
I'm lucky they gets along well. Yup she's agreeable.
Yup I think I should also consider your option 2. I'm not in a hurry to buy a property. Hopefully the price will become a little more affordable for decent size pc.
Thanks
ikan bilis
08-04-12, 11:46
you sound like got budget issues, that could be why pte condo not in your planning....
may be you can try step-by-step, don;t be too greedy...
- now buy a resale 5rm hdb very near to your parent...
- all (you and parent) move to resale hdb
- rent out your parent's hdb, should be able to fetch 30K/year...
5yr later
- with enough saving, you can upgrade your hdb to pte condo (or big dual-key EC),
- your parents rental collection also close to $150K, can be use to top up for your pte condo downpayment, make sure you put your parent name in your condo, (and dun kick your parent out.... umm, just kidding)
- your parent's hdb could continue to be rented out and pays for your condo.
- you are "hedged", with a resale hdb on hand, not too worry about property price inflation everyday...
if you buy an MM now...
- you will have problem to buy an EC later (2.5yr wait + 2.5yr construction + 5yr MOP)...
- risky, price is at all time high, also too many MMs...
- stuck with 4yr SSD, not easy to upgrade to 3bdr pte condo...
- hdb rental yield is higher...
if you get an EC now...
- might be too small size...
boy... still young... be patient... go slowly and steady... :rolleyes: ;)
you sound like got budget issues, that could be why pte condo not in your planning....
may be you can try step-by-step, don;t be too greedy...
- now buy a resale 5rm hdb very near to your parent...
- all (you and parent) move to resale hdb
- rent out your parent's hdb, should be able to fetch 30K/year...
5yr later
- with enough saving, you can upgrade your hdb to pte condo (or big dual-key EC),
- your parents rental collection also close to $150K, can be use to top up for your pte condo downpayment, make sure you put your parent name in your condo, (and dun kick your parent out.... umm, just kidding)
- your parent's hdb could continue to be rented out and pays for your condo.
- you are "hedged", with a resale hdb on hand, not too worry about property price inflation everyday...
if you buy an MM now...
- you will have problem to buy an EC later (2.5yr wait + 2.5yr construction + 5yr MOP)...
- risky, price is at all time high, also too many MMs...
- stuck with 4yr SSD, not easy to upgrade to 3bdr pte condo...
- hdb rental yield is higher...
if you get an EC now...
- might be too small size...
boy... still young... be patient... go slowly and steady... :rolleyes: ;)
Thanks for the advice
you sound like got budget issues, that could be why pte condo not in your planning....
may be you can try step-by-step, don;t be too greedy...
- now buy a resale 5rm hdb very near to your parent...
- all (you and parent) move to resale hdb
- rent out your parent's hdb, should be able to fetch 30K/year...
5yr later
- with enough saving, you can upgrade your hdb to pte condo (or big dual-key EC),
- your parents rental collection also close to $150K, can be use to top up for your pte condo downpayment, make sure you put your parent name in your condo, (and dun kick your parent out.... umm, just kidding)
- your parent's hdb could continue to be rented out and pays for your condo.
- you are "hedged", with a resale hdb on hand, not too worry about property price inflation everyday...
if you buy an MM now...
- you will have problem to buy an EC later (2.5yr wait + 2.5yr construction + 5yr MOP)...
- risky, price is at all time high, also too many MMs...
- stuck with 4yr SSD, not easy to upgrade to 3bdr pte condo...
- hdb rental yield is higher...
if you get an EC now...
- might be too small size...
boy... still young... be patient... go slowly and steady... :rolleyes: ;)
Thanks for the advice
Sigh
Here's my situation.
1. Want to stay with my parents
2. Want to own a property
My options
1. Stay with them while I buy a mm. Rent out mm
2. Stay with them while I buy ec. Leave vacant or use as weekend home for 5 years then rent out.
3. All move to ec. Rent out hdb (if my parents are agreeable to move in as they have many friends in the neighbourhood and quite attached if not its option 2)
Money from rental.
1. Allowance for parents
2. Help out in house hod need e.g utility if I'm staying in their hdb
OH! U don't have your own hdb yet??? Then the choice is obvious. Buy your own HDB first. Once you get PC you will not be able to buy hdb ever............
and ever..........................
.............................................
if u r eligible to buy HDB, have u considered buying HDB? It's a good asset which many forumers want to buy but cannot buy
if u r eligible to buy HDB, have u considered buying HDB? It's a good asset which many forumers want to buy but cannot buy
Need some advice from bros here
I currently own a PC for home stay, newly starting up family
Given the HDBs have a good yield, am thinking of selling my PC and buying and staying in a resale HDB in the same area. Once 5 years MOP is up, I can buy a PC again, stay in a PC and rent out HDB
The cons of this are the transaction fees involved e.g. stamp duties incurred in buying HDB now and PC 5 years later and commission. Easily can sum up to $80k all-in.
For me, its not so much of timing the relative pricing of condo vs HDB, but more of exercising my right /dream as a Singaporean to own a HDB flat. Reason why I did not buy a HDB in the first place was because Im not entitiled to any govt grant and I saw value in my current PC unit and so did not fully appreciate the asset value of a HDB then
Any advice if I should embark on this? Anyone has prior experience?
phantom_opera
28-04-12, 17:46
Downgrade in high inflationary period is a big No
Downgrade in high inflationary period is a big No
Free-up cash can always be used for non-real estate investments =)
MY concern is more of whether the $80k transaction fees is worth it in the long term
phantom_opera
28-04-12, 17:54
Spanish want to come sg u want to downgrade? Free up cash play stock? What if sti next 5 y still 3000? Your cash loses 30pc vAlue?
Spanish want to come sg u want to downgrade? Free up cash play stock? What if sti next 5 y still 3000? Your cash loses 30pc vAlue?
What if assuming I can invest the cash in similar instruments which gives me the kind of return which is similar to any price increase of my current PC?
phantom_opera
28-04-12, 18:21
Moral of the story, your home is liability, additional one is investment, playing with only home us just too risky not to mention about high txn cost
Need some advice from bros here
I currently own a PC for home stay, newly starting up family
Given the HDBs have a good yield, am thinking of selling my PC and buying and staying in a resale HDB in the same area. Once 5 years MOP is up, I can buy a PC again, stay in a PC and rent out HDB
The cons of this are the transaction fees involved e.g. stamp duties incurred in buying HDB now and PC 5 years later and commission. Easily can sum up to $80k all-in.
For me, its not so much of timing the relative pricing of condo vs HDB, but more of exercising my right /dream as a Singaporean to own a HDB flat. Reason why I did not buy a HDB in the first place was because Im not entitiled to any govt grant and I saw value in my current PC unit and so did not fully appreciate the asset value of a HDB then
Any advice if I should embark on this? Anyone has prior experience?
What if by the time you did that, govt announce that pc owner can buy hdb also?? The policy risk is way too high with the current policy makers.
phantom_opera
28-04-12, 19:55
what if after u sold your PC, bought your HDB, when it is almost 5y, garmen suddenly say buy PC must dispose HDB :eek:
what if after u sold your PC, bought your HDB, when it is almost 5y, garmen suddenly say buy PC must dispose HDB :eek:
Any chance they will revert to pre 2010 where private property owners can buy HDb provided they stay in them?
danieltangtc
28-04-12, 20:41
Simple, just transfer your pc to your parents's name for a song. that way minimal transfer fee. Make them write in their will that the pc actually belongs to you. that way no need to pay stamp when your parents pass on.
then u carry on stay in your pc and wait 5 years to buy your flat. Good eye dear :cheers1:
buttercarp
28-04-12, 20:45
Simple, just transfer your pc to your parents's name for a song. that way minimal transfer fee. Make them write in their will that the pc actually belongs to you. that way no need to pay stamp when your parents pass on.
then u carry on stay in your pc and wait 5 years to buy your flat. Good eye dear :cheers1:
Your parents can change the will at any time:scared-3: .
Simple, just transfer your pc to your parents's name for a song. that way minimal transfer fee. Make them write in their will that the pc actually belongs to you. that way no need to pay stamp when your parents pass on.
then u carry on stay in your pc and wait 5 years to buy your flat. Good eye dear :cheers1:
This is not allowed. Transfer has to be at market value otherwise taxman will come after u and make u pay double or triple.
Need some advice from bros here
I currently own a PC for home stay, newly starting up family
Given the HDBs have a good yield, am thinking of selling my PC and buying and staying in a resale HDB in the same area. Once 5 years MOP is up, I can buy a PC again, stay in a PC and rent out HDB
The cons of this are the transaction fees involved e.g. stamp duties incurred in buying HDB now and PC 5 years later and commission. Easily can sum up to $80k all-in.
For me, its not so much of timing the relative pricing of condo vs HDB, but more of exercising my right /dream as a Singaporean to own a HDB flat. Reason why I did not buy a HDB in the first place was because Im not entitiled to any govt grant and I saw value in my current PC unit and so did not fully appreciate the asset value of a HDB then
Any advice if I should embark on this? Anyone has prior experience?How did you get $80k all in? What price of PC are u looking at in 5 years? $2mil?
With the current efforts by our MIW to stabalize the public housing market, the value of HDB has probably reached its peak in the near future. It might take many more years to see any significant increase in HDB values. Therefore buying now means you're probably buying at the high. It may go up even more over the next 5 years but probably not much. COV is coming down too.
However, if you persist in getting the govt subsidy, then go ahead. Its $80k additional payment in exchange for that $30k govt subsidy plus 5 years hooked onto that unit. In terms of maintenance fee, you pay about $2xx/mth for condo vs $$170/mth for HDB so its not really a lot of difference.
I actually prefer the idea of putting your current PC under your parent's name or something and getting them to write a will. However, 2 things are in the way and until you can resolve them, you must consider carefully. First, the writing of the will might be a bizzare topic to raise up to your parents and your spouse might also be uncomfortable that the house is not in her name. Second, you may need to cash from selling your condo to buy a HDB flat therefore selling might be the only option if you insist on moving into a HDB unit.
Simple, just transfer your pc to your parents's name for a song. that way minimal transfer fee. Make them write in their will that the pc actually belongs to you. that way no need to pay stamp when your parents pass on.
then u carry on stay in your pc and wait 5 years to buy your flat. Good eye dear :cheers1:
Thought of it.. Sell to parents and then buy HDb and stay there..
Any idea what is "too low" for Taxman? 20% below last transacted should be ok? As long as not like 40 50%??
But stamp duties can add up a lot
How did you get $80k all in? What price of PC are u looking at in 5 years? $2mil?
With the current efforts by our MIW to stabalize the public housing market, the value of HDB has probably reached its peak in the near future. It might take many more years to see any significant increase in HDB values. Therefore buying now means you're probably buying at the high. It may go up even more over the next 5 years but probably not much. COV is coming down too.
However, if you persist in getting the govt subsidy, then go ahead. Its $80k additional payment in exchange for that $30k govt subsidy plus 5 years hooked onto that unit. In terms of maintenance fee, you pay about $2xx/mth for condo vs $$170/mth for HDB so its not really a lot of difference.
I actually prefer the idea of putting your current PC under your parent's name or something and getting them to write a will. However, 2 things are in the way and until you can resolve them, you must consider carefully. First, the writing of the will might be a bizzare topic to raise up to your parents and your spouse might also be uncomfortable that the house is not in her name. Second, you may need to cash from selling your condo to buy a HDB flat therefore selling might be the only option if you insist on moving into a HDB unit.
Can private property simply transfer name(s)? What are the cost(s) involved and most importantly, if the property is still under loan the restriction still falls on the person who pay for the loan. Right? If yes, how can he/she simply transfer?
This is not allowed. Transfer has to be at market value otherwise taxman will come after u and make u pay double or triple.Well you can save up to $5k in stamp duty and still pass off as market value... :spliff: That translates to about $160k difference in absolute price. A $1.5mil property going for $1.34 mil. Hmmm... :D
Can private property simply transfer name(s)? What are the cost(s) involved and most importantly, if the property is still under loan the restriction still falls on the person who pay for the loan. Right? If yes, how can he/she simply transfer?Cannot simply transfer unless you are removing one name from the property ownership and leaving that property to the other co-owner (if you call that transfer). Any other case, the authorities view it as a new purchase in which stamp duty is imposed. Also, you cannot suka suka say sell to your mother at $10 so save on the stamp duty fee. It must be according to current market value. ;) Our lovely govt is v smart one. Won't allow for such loop holes! :(
Cannot simply transfer unless you are removing one name from the property ownership and leaving that property to the other co-owner (if you call that transfer). Any other case, the authorities view it as a new purchase in which stamp duty is imposed. Also, you cannot suka suka say sell to your mother at $10 so save on the stamp duty fee. It must be according to current market value. ;) Our lovely govt is v smart one. Won't allow for such loop holes! :(
Let's assume a couple bought a Private property, and husband transfer his name to his wife ONLY, and his wife continues with the loan. Then, he proceed to get his FIRST property with 80% loan from bank?
Is this a loop hole?
Let's assume a couple bought a Private property, and husband transfer his name to his wife ONLY, and his wife continues with the loan. Then, he proceed to get his FIRST property with 80% loan from bank?
Is this a loop hole?As far as I know, loop hole not mended yet or it might be deliberately left unmended? :p I've asked my banker just last month and its still a viable option! :rolleyes: Well things may change soon. Who knows! Or I may not be updated on this matter!
As far as I know, loop hole not mended yet or it might be deliberately left unmended? :p I've asked my banker just last month and its still a viable option! :rolleyes: Well things may change soon. Who knows! Or I may not be updated on this matter!
Another scenario for analyzing purpose.
Assuming a couple bought a private property, Husband transfer his share(s) to his parent(dad/mum) and wife, followed by (few months later) wife transfering to parent(mum/dad), both performing transfering gradually and progressivly.
Then both of them will able to get resales flat near their parent(s) of both choice(s)?
Another loop hole?
Another scenario for analyzing purpose.
Assuming a couple bought a private property, Husband transfer his share(s) to his parent(dad/mum) and wife, followed by (few months later) wife transfering to parent(mum/dad), both performing transfering gradually and progressivly.
Then both of them will able to get resales flat near their parent(s) of both choice(s)?
Another loop hole?Catch no ball... transferring house to parents means one time of stamp duty. 2nd transfer means another time of stamp duty payment... Isn't that like easily $100k loss there? V ridiculous move! As long as new names are added, a transaction is deemed to have taken place! Do it once and do it swift. Why must do it twice??? :beats-me-man:
Catch no ball... transferring house to parents means one time of stamp duty. 2nd transfer means another time of stamp duty payment... Isn't that like easily $100k loss there? V ridiculous move! As long as new names are added, a transaction is deemed to have taken place! Do it once and do it swift. Why must do it twice??? :beats-me-man:
Okay, so it means each transfer will warrant stamp duty then.
Catch no ball... transferring house to parents means one time of stamp duty. 2nd transfer means another time of stamp duty payment... Isn't that like easily $100k loss there? V ridiculous move! As long as new names are added, a transaction is deemed to have taken place! Do it once and do it swift. Why must do it twice??? :beats-me-man:
doesnt matter do it once or twice.
stamp duty based on portion.
person A has 60% share of a condo
person B has 40% share.
if Person A sells to Person C, stamp duty is based on his 60% share.
if Person B sells to Person D, stamp duty is based on his 40% share.
edited: sorry read wrongly.
if person A sell to C who then sell to D, then stamp duty is twice of the 60% share.
Let's assume a couple bought a Private property, and husband transfer his name to his wife ONLY, and his wife continues with the loan. Then, he proceed to get his FIRST property with 80% loan from bank?
Is this a loop hole?
You assume that the wife/husband alone can tahan the WHOLE loan on their own. By including either on in either property as co-borrows will trigger the same effect.
Hey! Hopefully this forum not ending up like some tax evasion forum.
There is not much legitimate ways to circumvent taxman one. The idea of transferring at way below market value is even more ridiculous! You think IRAS stoooopid ? The people there will sniff this out and get the person into v deep trouble one.
Worse, they deem you as property trader and tax every cent u make in selling your property. Imagine you bought for $1 mil, market price now $1.3 mil. You pretend sell to parents at $800K. Taxman will come and rectify the $800K to $1.3 mil. THEN THEN THEN! Tax you on the $300K profit you made!
So, dear friends, dont anyhow teach people here, AND dont anyhow listen to people here!
DKSG
PS : Except listen to me la! I am a righteous office boy!
You assume that the wife/husband alone can tahan the WHOLE loan on their own. By including either on in either property as co-borrows will trigger the same effect.
Hey! Hopefully this forum not ending up like some tax evasion forum.
There is not much legitimate ways to circumvent taxman one. The idea of transferring at way below market value is even more ridiculous! You think IRAS stoooopid ? The people there will sniff this out and get the person into v deep trouble one.
Worse, they deem you as property trader and tax every cent u make in selling your property. Imagine you bought for $1 mil, market price now $1.3 mil. You pretend sell to parents at $800K. Taxman will come and rectify the $800K to $1.3 mil. THEN THEN THEN! Tax you on the $300K profit you made!
So, dear friends, dont anyhow teach people here, AND dont anyhow listen to people here!
DKSG
PS : Except listen to me la! I am a righteous office boy!Master pls teach... :not-worthy: ... Don't sell $800k if current value is $1.3mil lah... sell $1.1mil maybe can pull through! :spliff: Btw this is not evading tax... just paying less. Actually to give a unit to my parents without the notion of bypassing laws, etc, also must ask govt permission... that is already v pathetic leh! :rolleyes:
Master pls teach... :not-worthy: ... Don't sell $800k if current value is $1.3mil lah... sell $1.1mil maybe can pull through! :spliff: Btw this is not evading tax... just paying less. Actually to give a unit to my parents without the notion of bypassing laws, etc, also must ask govt permission... that is already v pathetic leh! :rolleyes:
Ok ok! Dont say people here merciless!
Use the last 5 transactions less 3-5%, I think Ah Gong will take it!
Assuming average of last 5 similar transaction gives you $1.3 mil.
Use $1.235 mil.
But this is just an Office Boy's suggestion hor, dont quote me when you talk to IRAS, I not qualified to give such advice. Wait they hantam me!
The rest, we have to talk in private liao. Too much details here no good.
DKSG
doesnt matter do it once or twice.
stamp duty based on portion.
person A has 60% share of a condo
person B has 40% share.
if Person A sells to Person C, stamp duty is based on his 60% share.
if Person B sells to Person D, stamp duty is based on his 40% share.
edited: sorry read wrongly.
if person A sell to C who then sell to D, then stamp duty is twice of the 60% share.
And dont think you can outsmart Ah Gong ok ?
If you think u transfer 5% by 5% can keep using the First $100K tax rate, then you are wrong! Ah Gong uses CUMMULATIVE transferred interest.
DKSG
Master pls teach... :not-worthy: ... Don't sell $800k if current value is $1.3mil lah... sell $1.1mil maybe can pull through! :spliff: Btw this is not evading tax... just paying less. Actually to give a unit to my parents without the notion of bypassing laws, etc, also must ask govt permission... that is already v pathetic leh! :rolleyes:
Selling at 10 or 20 percent below last transaction should not be evasion? Imagine if you need to fire sale your property for a quick deal.. Very possible u need to take this kind of cut?
Your parents can change the will at any time:scared-3: .
This is the biggest risk?? Hahaha
Selling at 10 or 20 percent below last transaction should not be evasion? Imagine if you need to fire sale your property for a quick deal.. Very possible u need to take this kind of cut?Yup... 10% below market value should still be ok for firesale therefore I suggested selling at $1.34mil for a $1.5mil property... about 10% below market value... :spliff:
buttercarp
28-04-12, 22:36
doesnt matter do it once or twice.
stamp duty based on portion.
person A has 60% share of a condo
person B has 40% share.
if Person A sells to Person C, stamp duty is based on his 60% share.
if Person B sells to Person D, stamp duty is based on his 40% share.
edited: sorry read wrongly.
if person A sell to C who then sell to D, then stamp duty is twice of the 60% share.
This applies only to tenants in common.
So if joint tenancy then apply to change to tenants in common (which won't incur stamp duty).
http://webcache.googleusercontent.com/search?q=cache:Z1q74d2fFB8J:www.iras.gov.sg/irasHome/page.aspx%3Fid%3D1808+tenants+in+common+sell+share&cd=3&hl=en&ct=clnk&gl=sg
Actually the loophole has been plugged.:ashamed1:
Declaration to change from Joint Tenancy to Tenancy in Common of equal shares.
Selling at 10 or 20 percent below last transaction should not be evasion? Imagine if you need to fire sale your property for a quick deal.. Very possible u need to take this kind of cut?
Hello! We are talking about selling to your parents leh!
Unless you get your parents to disown you first la!
Anyway, Ah Gong wont care they disowned you or not, they still tax u one!
So, selling to strangers 20% below valuation, maybe no harm. Selling to parents, I think, got some harm.
Just my 1.235 cents worth of opinion.
DKSG
i think our office boy more n more yandao every day. soon i may send fan mail to his inbox...
Need some advice from bros here
I currently own a PC for home stay, newly starting up family
Given the HDBs have a good yield, am thinking of selling my PC and buying and staying in a resale HDB in the same area. Once 5 years MOP is up, I can buy a PC again, stay in a PC and rent out HDB
The cons of this are the transaction fees involved e.g. stamp duties incurred in buying HDB now and PC 5 years later and commission. Easily can sum up to $80k all-in.
For me, its not so much of timing the relative pricing of condo vs HDB, but more of exercising my right /dream as a Singaporean to own a HDB flat. Reason why I did not buy a HDB in the first place was because Im not entitiled to any govt grant and I saw value in my current PC unit and so did not fully appreciate the asset value of a HDB then
Any advice if I should embark on this? Anyone has prior experience?
agree with the rest. not a good time to sell private now.
i think our office boy more n more yandao every day. soon i may send fan mail to his inbox...
O...ohh. Bro DKSG quickly take cover (cover your bs) unless you don't mind of course. :D
Another view the resales are gradually picking up, so you can sell when the resale market is hotter, especially if yours is a 99LH and time matters.
This applies only to tenants in common.
So if joint tenancy then apply to change to tenants in common (which won't incur stamp duty).
http://webcache.googleusercontent.com/search?q=cache:Z1q74d2fFB8J:www.iras.gov.sg/irasHome/page.aspx%3Fid%3D1808+tenants+in+common+sell+share&cd=3&hl=en&ct=clnk&gl=sg
Actually the loophole has been plugged.:ashamed1:
Declaration to change from Joint Tenancy to Tenancy in Common of equal shares.
Lately, I just applied for change of joint tenancy to tenants in common, thre is no stamp duty incurred if the % is 50-50.
How did you get $80k all in? What price of PC are u looking at in 5 years? $2mil?
With the current efforts by our MIW to stabalize the public housing market, the value of HDB has probably reached its peak in the near future. It might take many more years to see any significant increase in HDB values. Therefore buying now means you're probably buying at the high. It may go up even more over the next 5 years but probably not much. COV is coming down too.
However, if you persist in getting the govt subsidy, then go ahead. Its $80k additional payment in exchange for that $30k govt subsidy plus 5 years hooked onto that unit. In terms of maintenance fee, you pay about $2xx/mth for condo vs $$170/mth for HDB so its not really a lot of difference.
I actually prefer the idea of putting your current PC under your parent's name or something and getting them to write a will. However, 2 things are in the way and until you can resolve them, you must consider carefully. First, the writing of the will might be a bizzare topic to raise up to your parents and your spouse might also be uncomfortable that the house is not in her name. Second, you may need to cash from selling your condo to buy a HDB flat therefore selling might be the only option if you insist on moving into a HDB unit.
Yea, looks like the only way for a PC owner like me to enter the HDB resale is to gift the current PC to parents, pay stamp duty and then I and wife can go buy HDB. 5 years later then re-enter PC market
Understand the reason why you are saying HDB property has probably reached the peak in the near future. What about HDB in the more mature estates i.e Bishan, AMK, TPY, Clementi etc? The new glut of supply are mostly in the OCR region etc Sengkang, Punggol so downside risk much higher for HDB there?
O...ohh. Bro DKSG quickly take cover (cover your bs) unless you don't mind of course. :D
Wakaka. Dont worry. Mine not prickly cactus. Its just a prick. ;-p
advice = do wht u think right now
now dunno if CMs will hold.
2 yrs maybe all scrap or more CMs introduced
think 2 fkg long will insane one mind
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