Advice needed for property
- Thread starter snacks
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Property agents confirm would tell you sell 2 and buy 1, that's equivalent to 3 transactions - they earn commission 3 times,
If they know the 3rd one under your wife's name, confirm tell u sell that and buy the new one.
Property agents confirm would tell you sell 2 and buy 1, that's equivalent to 3 transactions - they earn commission 3 times,
If they know the 3rd one under your wife's name, confirm tell u sell that and buy the new one.
Yes you are spot on! But the other one SSD not over yet and we planning to stay there for quite some time.
Yes you are spot on! But the other one SSD not over yet and we planning to stay there for quite some time.
Expected for the agents
Actually depending on your age profile (and wife as well), then you know if you should buy the 4th one.
If you're in the late 40's onwards, then you can only borrow for 15+ years only. If your wife condo has you as one of the borrowers, then the max you can loan is 45% only.
Then your monthly mortgage would be normally higher than your rental of that 4th condo you rented out. Then probably not a good one since you need to topup the difference with your cash (or CPF).
Expected for the agents
Actually depending on your age profile (and wife as well), then you know if you should buy the 4th one.
If you're in the late 40's onwards, then you can only borrow for 15+ years only. If your wife condo has you as one of the borrowers, then the max you can loan is 45% only.
Then your monthly mortgage would be normally higher than your rental of that 4th condo you rented out. Then probably not a good one since you need to topup the difference with your cash (or CPF).
wife's name condo under her single name. 4th property we have to pay absd of 12%, not sure if its worth it.
Under Trust it seems that are some hidden clause when i read some pages of the forum and next time may affect our children when they want to buy their homes next time?
12% ABSD plus 3-4% stamp duty probably makes it not so worth it, as even if your 4th condo appreciates by 15% in 5 years, basically just to cover the ABSD+Stamp duty.
These days, not all new launches appreciate by 15% in 5 years. Some barely 5-6% and some worse, drop by 15-25%.
Trust not so straightforward as firstly you need to pay all in cash. Quite a few can do that, but I think you still need to pay some fee to legal (or someone) for managing the trust
All rental income and selling of the condo, all money belongs to the trust (your kid).
And when come to their legal age, you cannot stop them from doing certain things, such as they reverse mortgage that condo since it belongs to them.
And of course, if they want to apply for BTO with their girlfriends, yeah they have to sell the condo first, even say you do not wish to.
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Property agents confirm would tell you sell 2 and buy 1, that's equivalent to 3 transactions - they earn commission 3 times,
If they know the 3rd one under your wife's name, confirm tell u sell that and buy the new one.
Yap, they are the worse person to get advice from.
u made entry years ahead with good yield. i wouldnt sell the 2, or either unless there is offer with substantial cash over valuation. will be more align to explore opportunities with your existing live in property (assumed under another name with single property). i.e look to sell at market value if there is distress resale opportunity for entry
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