For many 1st time property buyers, the biggest obstacle is saving enough for the down payment. If the target of your 1st property is a $500K unit, by saving $3,333 per month, you’ll have your 20% deposit in 2 ½ years’ time. In fact, you can achieve that even earlier --- with money from your CPF ordinary account or your year-end bonus. Of course, you need to set aside extra … [Read more...]
Ten good reasons of starting young
Are you in your 20s and want to invest in properties? Looking back, I am grateful that I started early. There are at least 10 reasons why you should do so: 1. You build a habit of saving, and a nest egg for the future. The formula is: start early, invest right and retire early. 2. You have more drive and energy for property-related activities, including house hunting, … [Read more...]
Impact of government measures to cool property market
The Singapore Government just announced today 'measures to maintain a stable and sustainable property market', with effect on the same day: 1. Increase the holding period for imposition of Seller’s Stamp Duty (SSD) from the current one year to three years. 2. For property buyers who already have one or more outstanding housing loans at the time of the new housing … [Read more...]