- Take note of the eligibility conditions and you will affordability prior to getting an effective next possessions.
- Brand new recent escalation in Extra Customer’s Stamp Obligation (ABSD) form you would you prefer much more dollars when purchasing the next domestic.
- To acquire another property has far more monetary duty; it is advised to get clear about your goal for choosing next assets
That have inflation controling statements in previous days, rates are ready to rise then on upcoming days. For those who have come planning and get an extra assets, this could be an enjoyable experience to start lookin since a beneficial rise in interest might just mean stabilisation out-of possessions cost.
Aside from the expense of the home, there are a few things you’d need to be aware of whenever to find a moment home, such as for instance qualifications, affordability and you may purpose.
Eligibility
For many who own a personal property, you will then be absolve to pick another private assets without having any judge implications. Yet not, in case the first home is a general public construction, whether it is a set-up-to-Order (BTO) flat, selling HDB flat, executive condominium (EC), or Design, Create and sell Strategy (DBSS) flats, then you’ll definitely need to fulfil specific requirements prior to you buy.
HDB apartments feature a 5-year Lowest Field Months (MOP) specifications, and thus you’ll need to inhabit one to possessions to possess good the least 5 years before you can offer otherwise book your own apartment.
