When it comes to home buying, the ideal situation would be to close both concurrently and move into your new home a few days prior to selling your previous. This does happen but anyone looking to buy a new home needs to consider all the possible scenarios. Should you buy or sell first? There are many variables involved; there is no universal correct answer. It basically comes down to your specific...
General
For the discerning few who appreciate the finer things in life, we would like to present One Jervois. Cloistered within lush greenery on the city’s edge, this neighbourhood of distinction affords a home of a different league, reserved only for those with the most exacting of standards. Steeped in a history rich in exclusivity, the Jervois district is, till today, home to the embassies of the world....
Here are some points that you can consider in deciding whether to buy or rent a property. Sufficient initial capital. When one makes a property purchase, the initial capital outlay is 10% (5% can be from CPF, 5% is to be cash). In renting, one will typically be looking at between 1-3 months rental sum for the security deposit. Tax and depreciation shelter. Property buyers enjoy tax and depreciation...
Mistake #1 :: Pricing Your Property Too High Every seller obviously wants to get the most money for their product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high price will cause prospective buyers to lose interest before even seeing your property. Also, other buyers will expect more than what you have to offer. As a result, overpriced properties tend...
THE ICON - GET READY FOR CHIC METROPOLITAN LIVING Wake up to the magnificent views of the business district and South China Sea from your full-height bedroom windows. Pop up to the gym on the 31st floor and work up a sweat, followed by a few laps in the 50M lap pool on the 7th to cool down. Grab a latte from the cafes before taking a short walk to work. Without any traffic jams and the hassle of...
What is Stamp Duty? Stamp Duty is a tax levied on documents which record transactions, such as disposition or transfer of interest from one party to another. Therefore, stamp duty is payable by the person who purchases both residential and non-residential properties in Singapore. How Much Stamp Duty? Sales Stamp Duty Payable = First S$180,000 of purchase price x 1% + Next S$180,000 of purchase price...
Tenant finds a unit and makes an offer to rent it. Tenant gives a Letter-of-Intent with a cheque for 1 month rental as Goodfaith Deposit. In the Letter-of-Intent, all requests such as level of furnishing, date of handover of keys, etc are spelled out. If offer is less than what the owner originally asked for, it will then be subjected to acceptance. Further negotiation may result. If owner accepts the...
What is Enbloc Sale? Enbloc = in a lump; as a whole Thus, an Enbloc Sale basically means: all owners of separate units in an apartment, condominium or even an office building, coming together to collectively sell their properties to a developer for comprehensive redevelopment. Why Enbloc Sale? allows owners to sell their properties for at a higher price than they could fetch by selling individually...
The key to a sophisticated lifestyle, Proximo @ Robin Road is a single block, 15-storey, 3+1 bedrooms apartment that is situated along Robin Road (off Steven's Road) which boasts of its proximity to the heart of Singapore. Pamper yourself with the bright and unblocked view while enjoying urban living. With only 49 apartment units in a 15-storey building, you get to experience a taste of exclusivity,...
Tenancy Agreement. The legal contract that lists out the terms of the lease between the landlord and tenant. These include the duration of the lease, the option to renew, and the rental rates among others. Security Deposit. A security deposit is usually required upon signing of the Tenancy Agreement, and refunded without interest when the lease ends. The landlord reserves the right to deduct from the...