Afternoon Judy,
I will suggest both of you to sell the HDB first before purchasing a private apartment.
If you had heard about the recent cooling measures, ABSD rates has increased. Both of you will be subject to 7% (your husband's second property) even though its your first property (5% ABSD as PR), govt will take it as 7%.
Thus you have to bear this cost first before getting an ABSD relief provided you sell off your HDB flat within 6 months from purchase completion.
This is to prevent both of you being cash tight and as a married couple buying first matrimonial house in Singapore, there will not be any ABSD if one party is a Singaporean citizen (which applies for your case).
Normally costs for purchasing a private property will be:
1) legal fees $3000
2) valuation fee
3) stamp duty for mortgage
4) Additional buyer's stamp duty (ABSD) if applicable
Whether is it a good time to buy now?
Its up to your desired lifestyle and family needs (expansion of family members).
As long as the unit is bought at a reasonable price, its a good buy.
Many buyers have waited over so many years and missed so many boats. The things they can share is they dont dare to take the risk and miss out on alot of opportunities.
And i sincerely hope that both of you wont be one of them.
Hope my explanations and opinions help!
If you need any assistance in your property needs, I am just a call away.
Hope to hear from you soon!
Cheers!
Warmest Regards,
YT TAN
Senior District Manager
R043025D
(M):
9111 5171
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd
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