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Old 13-04-2019, 11:25 PM   #613
NiShiZhu
Senior Member
 
Join Date: Jan 2005
Posts: 1,154
Yup understand that cooling measure damn hard to be lifted. Hence I decided to just keep saving lo. No worries, age is on my side. Once got enough funds, will jump in again. As a single buyer, tackling ABSD damn susah lo. So LL pay lo.
Coz even if I buy a second prop at age 30 or 35, still can take max number of years to loan. Starting young isn’t that bad just that buying as single susah abit.
If u have plans to own multiple properties, your first property should include one of your parents name (example your Father if he still working and got income) plus your name. U can give 99% ownership to your Father and u put yourself 1% ownership.

When u want buy 2nd property, u need to decouple with your Father, ur Father only need to pay stamp duty based on 1% of the value of your property. Plus legal fee of $5600 roughly.
Of cos, your Father will need bank’s new loan approval as this is treated as a new sale.
But normally your Father age is a crucial factor due to the short loan tenure. Since u r only 25 year old, I’m assuming your Father age is 50 years old and he can still probably still can get 15 years loan.
Not forgetting your 1 bedder is Low quantum also, so should be ok.

Then when u buy 2nd property, u total free from ABSD.
Because of your age advantage, you are able to buy your second property at a higher quantum since I assume your earning power will also increase over time plus your age allows u to go for longer loan tenure.
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Last edited by NiShiZhu; 13-04-2019 at 11:43 PM..
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