Hi Sir,
1. To buy a condo, it is recommended that you do an In Principal Approval (IPA) with a bank first to determine your eligible loan amount. I can link you up with my banker to do an IPA for you so that you will have an idea what is your eligible loan amount.
2. If you were to buy a condo with your wife (SPR) now, you will need to pay the Additional Buyer Stamp Duty (ABSD) of 15% on top of the normal stamp duty of about 3%.
3. If your wife is a SC, you will be able to purchase a HDB under the Non-Citizen Spouse Scheme, but do note that under such a scheme, only your wife's income will be assessed for the loan. She will be the legal owner of the house, while you will be the essential occupier.
4. If your wife is a SC, you will be eligible for ABSD remission and do NOT have to pay the 15% ABSD as it will be purchased as your matrimonial home. Please refer to this link for more info:
https://www.iras.gov.sg/irashome/uploadedFiles/IRASHome/Other_Taxes/Stamp_Duty_for_Property/Claiming_Refunds_Remissions_Reliefs/Remissions/ABSD%20Rates%20and%20Refund%20for%20Married%20Couples.pdf
5. There are a lot of new projects in the market currently. May I know what is the area you are looking at so that I can make some recommendations.
Please feel free to contact me so that I can assist you with the loan application and also to help you draft up a comprehensive financial plan so that you can plan better!
Regards,
Nick Tan
(M)
+65 9644 4854
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg / nick96444854@gmail.com
(W) www.nick-tan.com / www.propertyavenue.com.sg
Testimonial from Satisfied Clients (2015/2016)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer of HDB)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer of HDB)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)
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