Purchased a 2nd property? We’d love to hear about your experiences (good or bad) and any tips that you’d like to share 😀 Store - stackedhomes.com/store/?.com&Brwt8wpYs Website - www.stackedhomes.com/?.com&Brwt8wpYs Instagram- instagram.com/stackedhomes Facebook - facebook.com/stackedhomes TikTok - www.tiktok.com/@stacked.homes
Hi Sir , Me and my wife owned a HDB (fully paid) ; and currently we had bought a new private property for investment purpose . Can I upgrade to EC if I sell my HDB ? If I manage to fully pay for the EC unit with cash & CPF after sell my HDB ?
Very prudent advise unlike some channels which shows that everything is hunky dory. I invested with a group of friends in a commercial property, and it was difficult to rent out initially and although the four of us were getting salaries, the monthly outlay was still quite a worry for a property that was 1.2m. Thanks for presenting 2 sides of the coin in your discussions
This is a very honest and real program. It really is a huge concern when I see videos of the so called "property gurus" who advise/guide people (mostly in their 30s or 40s, shall I call them middle age folks ?) who have "average" incomes to buy 2 properties or even multiple properties for rental income. Sometimes I wonder how these people are managing their portfolio after a couple of years or maybe even just after 1 year. Your video would certainly be a good sounding board for them.
Thanks for your kind words Hazel. We strive to be as real and objective as possible - especially given the noise in the market. While the "property gurus" seem to have a slant, a lot of it is marketing to lure buyers in. It's just a marketing practice to get the largest number of leads at the smallest cost, but in the end, it's down to the buyer's risk appetite, and in a lot of cases where this isn't possible, many drop out of the "lead funnel" because there are strict regulations in place to prevent over-leveraging. We do hope that our video creates a strong awareness that nothing is so straightforward, and along the way, there are complications - so this video aims to iron out what should be done right to prevent such complications. One of the more serious ones is the 99/1 split. No one thinks they would get a divorce later on, but in the unfortunate even it happens, this can really lead to complications and completely derail both their financial and personal quality of life. Every thing that has its gains has its risks 👀
If 99-1 and then sell 1 percent share to the other person, will the bank do a reevaluation to make sure that person can finance the loan alone or they won't?
Hey! Yes they can, but the occupier's income cannot be counted towards the loan, nor can they use their CPF to pay for the mortgage. These are the limitations behind this.
if I already bought a condo, 1. can i buy resale hdb immediately after selling the condo or is there a 30-month waiting period? 2. can i decouple the condo, such that my wife is able to buy hdb under her name without paying absd?
Hey Daniel! Thank you for sharing your question! 1) There's no 30-month waiting period if it's a resale HDB. Only for BTOs. If you or any person listed in your resale flat application owns a private property either locally or overseas, you must dispose of all private properties before or within 6 months of the resale flat purchase. (Source: www.hdb.gov.sg/residential/buying-a-flat/resale/eligibility) 2) Your wife cannot buy an HDB after decoupling. This is because she will need to form a family nucleus, and you have to be inside. A married person cannot apply for a flat separately from their spouse. And if that spouse has a private property, then this would not work. Otherwise it would be open to abuse, and everyone would be doing it e.g. decouple condo, buy 1 HDB under 1 name then own 2 property which completely goes against the idea of HDB as a primary form of home ownership vs an investment asset.
We are living in new ec since 2 years so still got 3 more years for MOP. How to find whether we are joint tenancy or tenancy in common. Secondly is there a way to change from joint tenancy to tenancy in common now even before the MOP finishes. I understand that we have to pay bsd on 49 percent share transfer.
i think it is quite hard for ppl to buy the 2nd property as investment unit for the first time as the tendency is still to look at it as something for own stay. we are looking to buy an integrated as our second but the view still ends up as it will be something for us when we are older.
Thanks for sharing your thoughts! Yes the objectives needs to be clear. Deciding on the primary place of residence is important, the next purchase should then fulfill the investment objective 😀
Hi! The tax is based on the higher of valuation or purchase price. In the event that the purchase price is far from valuation, IRAS will do their own valuation.
Hey there! With regards to things like taxes (ABSD), properties outside Singapore are excluded 👌 The overseas properties rule really only affects one's eligibility to purchase HDBs.
Would like to transfer my 50% share of my private property to my wife's name. Can you advise how much stamp duty will my wife need to pay if she already owned another property and how to determine the selling price for the stamp duty?
Hi. Can you elaborate 99/1 more? Would like to know more about this. Example now my partner owns 100% of the property, if we decide to go for 99/1, can i also use my cpf to finance that property too?
Hey Ah Lim! Yes sure we'll feedback this to the editorial team. As to your question, yes it can be used, but when sold, the CPF money has to be returned 👌
Hey! You can decouple both for private property (whether Tenancy In Common or Joint Tenancy). However, in the case of Joint Tenancy, it is more complicated. For HDB, you can only transfer ownership based on specific cases, so for most people, decoupling for HDB is not possible.
Purchased a 2nd property? We’d love to hear about your experiences (good or bad) and any tips that you’d like to share 😀
Store - stackedhomes.com/store/?.com&Brwt8wpYs
Website - www.stackedhomes.com/?.com&Brwt8wpYs
Instagram- instagram.com/stackedhomes
Facebook - facebook.com/stackedhomes
TikTok - www.tiktok.com/@stacked.homes
we went directly to buy two private properties (one each)without buying a hdb to avoid the absd.
Hi Sir ,
Me and my wife owned a HDB (fully paid) ; and currently we had bought a new private property for investment purpose . Can I upgrade to EC if I sell my HDB ? If I manage to fully pay for the EC unit with cash & CPF after sell my HDB ?
Very prudent advise unlike some channels which shows that everything is hunky dory. I invested with a group of friends in a commercial property, and it was difficult to rent out initially and although the four of us were getting salaries, the monthly outlay was still quite a worry for a property that was 1.2m. Thanks for presenting 2 sides of the coin in your discussions
Hi DG, you're welcome! We're glad that you find our video informative. :)
Could you speak more on your experiences?
This is a very honest and real program. It really is a huge concern when I see videos of the so called "property gurus" who advise/guide people (mostly in their 30s or 40s, shall I call them middle age folks ?) who have "average" incomes to buy 2 properties or even multiple properties for rental income. Sometimes I wonder how these people are managing their portfolio after a couple of years or maybe even just after 1 year. Your video would certainly be a good sounding board for them.
Thanks for your kind words Hazel. We strive to be as real and objective as possible - especially given the noise in the market. While the "property gurus" seem to have a slant, a lot of it is marketing to lure buyers in. It's just a marketing practice to get the largest number of leads at the smallest cost, but in the end, it's down to the buyer's risk appetite, and in a lot of cases where this isn't possible, many drop out of the "lead funnel" because there are strict regulations in place to prevent over-leveraging. We do hope that our video creates a strong awareness that nothing is so straightforward, and along the way, there are complications - so this video aims to iron out what should be done right to prevent such complications. One of the more serious ones is the 99/1 split. No one thinks they would get a divorce later on, but in the unfortunate even it happens, this can really lead to complications and completely derail both their financial and personal quality of life. Every thing that has its gains has its risks 👀
Great video. Love the way you guys explain things, even on your other videos and webpage
Thanks Bryan! We try our best!
Very honest sharing. Wonderful
Glad you liked it
If 99-1 and then sell 1 percent share to the other person, will the bank do a reevaluation to make sure that person can finance the loan alone or they won't?
Would like to see more of Ryan's sharing in the Outro segment!
😂 You actually made it to the end! We'll share that segment next time!
How about essential occupier and owner scheme for hdb? The essential occupier can purchase a private after the 5 yrs MOP right?
Shhhh..😂
Hey! Yes they can, but the occupier's income cannot be counted towards the loan, nor can they use their CPF to pay for the mortgage. These are the limitations behind this.
Why do people do a 99/1 then transfer the 1% over instead of outright purchase under 1 person? Is it because they want a larger mortgage amount
Doing a 99/1 first allows both parties to be owners and also to take on the mortgage and draw down CPF to be used.
Can divorced/widowed spouse buy hdb (BTO or resales) if there is no child in the marriage?
If the intention is to buy a 2nd property, prob wouldnt even need to go down the tenancy in common option since there is still absd involved
Thanks for sharing your thoughts!
if I already bought a condo,
1. can i buy resale hdb immediately after selling the condo or is there a 30-month waiting period?
2. can i decouple the condo, such that my wife is able to buy hdb under her name without paying absd?
Hey Daniel! Thank you for sharing your question!
1) There's no 30-month waiting period if it's a resale HDB. Only for BTOs. If you or any person listed in your resale flat application owns a private property either locally or overseas, you must dispose of all private properties before or within 6 months of the resale flat purchase. (Source: www.hdb.gov.sg/residential/buying-a-flat/resale/eligibility)
2) Your wife cannot buy an HDB after decoupling. This is because she will need to form a family nucleus, and you have to be inside. A married person cannot apply for a flat separately from their spouse. And if that spouse has a private property, then this would not work. Otherwise it would be open to abuse, and everyone would be doing it e.g. decouple condo, buy 1 HDB under 1 name then own 2 property which completely goes against the idea of HDB as a primary form of home ownership vs an investment asset.
Is joint-tenancy or tenancy-in-common applicable for private homes too?
Yes it is!
We are living in new ec since 2 years so still got 3 more years for MOP. How to find whether we are joint tenancy or tenancy in common. Secondly is there a way to change from joint tenancy to tenancy in common now even before the MOP finishes. I understand that we have to pay bsd on 49 percent share transfer.
Hey there! You should actually check this with your law firm directly, the firm that did your paperwork since they would have all the details 😀
i think it is quite hard for ppl to buy the 2nd property as investment unit for the first time as the tendency is still to look at it as something for own stay. we are looking to buy an integrated as our second but the view still ends up as it will be something for us when we are older.
Thanks for sharing your thoughts! Yes the objectives needs to be clear. Deciding on the primary place of residence is important, the next purchase should then fulfill the investment objective 😀
Subscribed, because of this channel's honesty
For the 1%, can I say that the price sold/bought is S$1to/by the spouse or any amount lower than the property price or initial purchase price?
Hi! The tax is based on the higher of valuation or purchase price. In the event that the purchase price is far from valuation, IRAS will do their own valuation.
Can explain how these rules apply when it’s an overseas property , like say in Canada?
Hey there! With regards to things like taxes (ABSD), properties outside Singapore are excluded 👌 The overseas properties rule really only affects one's eligibility to purchase HDBs.
Would like to transfer my 50% share of my private property to my wife's name. Can you advise how much stamp duty will my wife need to pay if she already owned another property and how to determine the selling price for the stamp duty?
Props to the editor for adding in an imposter sound effect at 11:04 😂
Haha yeah almost as if you're getting a haircut 😆
Hi. Can you elaborate 99/1 more? Would like to know more about this. Example now my partner owns 100% of the property, if we decide to go for 99/1, can i also use my cpf to finance that property too?
Hey Ah Lim! Yes sure we'll feedback this to the editorial team. As to your question, yes it can be used, but when sold, the CPF money has to be returned 👌
Hi. How do i go about this 99/1?
Does it mean Tenancy in common cannot decouple?
Or both joint tenancy and tenancy in common is able to do decoupling?
Hey! You can decouple both for private property (whether Tenancy In Common or Joint Tenancy). However, in the case of Joint Tenancy, it is more complicated. For HDB, you can only transfer ownership based on specific cases, so for most people, decoupling for HDB is not possible.