IS YOUR MONEY WORKING HARD FOR YOU?

property wealth planning

A couple in their mid-30s is on their way to build up their property portfolioย through Property Wealth Planning.

Until last year they were staying comfortably in their EA flat with huge savings in their bank accounts. But the money wasn’t working hard for them, earning paltry interest.

They also recognised the downward trend of HDB prices and that their flat was not meant to be kept long term. For quite sometime now they had wanted to invest in a private property but were deterred by the Additional Buyer Stamp Duty (ABSD)ย which isย an additional 12% for their second property.ย 

We discussed and did ๐—ฃ๐—ฅ๐—ข๐—ฃ๐—˜๐—ฅ๐—ง๐—ฌ ๐—ช๐—˜๐—”๐—Ÿ๐—ง๐—› ๐—ฃ๐—Ÿ๐—”๐—ก๐—ก๐—œ๐—ก๐—š.

ย 

THE PROCESS OF PROPERTY WEALTH PLANNING

First, they sold their EA flat last year and bought a condo near their parents’ home. It was bought under the sole name of the husband.

Now they just purchased their 2nd condo with a rental yield of more than 3%. This time it was under the wife’s name.

By selling their HDB flat which was under joint-ownership, they had purchased two condos under separate names. In this way they have made a substantial saving on Additional Buyer Stamp Duty (ABSD).

And they still have enough resources to buy another small brand new condo in their daughter’s name who is only 3 year old.

All these purchases were and will be made without incurring any ABSD. It would not be possible if they had decided to keep their HDB flat.

๐™‰๐™ค๐™ฌ ๐™ฉ๐™๐™š๐™ž๐™ง ๐™ข๐™ค๐™ฃ๐™š๐™ฎ ๐™ž๐™จ ๐™ฌ๐™ค๐™ง๐™ ๐™ž๐™ฃ๐™œ ๐™๐™–๐™ง๐™™ ๐™›๐™ค๐™ง ๐™ฉ๐™๐™š๐™ข!

Interested to know how they do it? Give me a call for a no-obligatory discussion on Property Wealth Planning!

Danny Han

Danny Han

Associate Deputy Group Director
OrangeTee & Tie Pte Ltd

Danny has been a licensed real estate agent since 2005 and has helped many in Property Wealth Planning.

Do drop him a Whatsapp message or send him an email for a discussion if you are planning to grow your property wealth.

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