Page 12 - Annual Value News Today : Breaking News, Live Updates & Top Stories | Vimarsana

December 30, 2020 Stackedhomes So you’ve owned a home, or perhaps even a second property, for quite some time. In the eyes of many, this leaves you set for life; but you probably know the truth by now: it’s not as simple as sitting back and letting the money roll in. Every year, Singapore’s dynamic property market changes. Back in the 1990’s, your rent could have more than paid your mortgage. In the early 2000’s, practically every HDB flat was a golden ticket to condo ownership in five years. In 2020 however, things have gotten more complicated – from Coronavirus to new housing po...

Additional Buyers Stamp Duty (ABSD) Can buy a second property without incurring ABSD. No ABSD if you sell your previous home first, but you only end up with one property. Property tax Almost always higher, as you pay property tax on two condo units, and one is at the higher (non-owner occupied) rate The usual owner-occupied property tax on your condo Maintenance fees Depends on the size of your unit, but almost always lower Rental income Zero unless you’re willing to rent out rooms Income requirements Less demanding, as both co-borrowers are splitting the mortgage Initial cash outlay Minimu...