Most expatriates nowadays decide to make Singapore as their permanent home rather than leaving from their workplace for good after their assignment or returning after their retirement back to their hometown. With these reason why here are more and more individuals who are investing their money just to acquire a property in Singapore and decide to live here for good. And one of the key advantage of applying for Singapore as equivalent to U.S green card has something to do with the accessible PR (permanent residency)—mainly relating to the taxes or the so called ‘Singapore Central Provident Fund’, which gives you the eligibility to use your CPF savings for financing a home.
But even if you do not hold a PR, you can still have the chance to own a property in Singapore through purchasing a developer’s unit that is relative to your preference, financial capability, and lifestyle that you’re intending to lead as you stay in Singapore. Buying developer’s unit in Singapore doesn’t only provides you the satisfaction of living here, but it also gives you the advantage of owning a property without any worries regarding the past proprietorship of the home. However, not all buyers are willing to take the opportunity of purchasing a new property, rather, they still go for a resale option, which on the other hand can cause numerous downside on their side. Hence, as a buyer, you need to be aware about the advantages of purchasing a developer’s unit instead of suffering from the cons of resale option.
Advantages of Buying From Developers:
Brand New Property - When you become the first owner of the property, investors doesn’t need to worry about the previous documents and proprietorship of the unit. Whilst, if you properly maintained your property’s value, growing the equity of your unit will not be a hassle on your end as equity can be later used for securing your future loans or securing your retirement.
Progressive Payments - Investors will have the advantage of managing their finances. The loan drawdown is stages and installment will also start in low rate, thus allowing you to build up the ‘nest egg’ during its construction. And if invested wisely, in purchasing the property may run you 100 percent profit just within the year. If one’s investment time horizon is within a limited period, say 2 years, you can sell your property into a risking market and even make profit out of it before the substantial drawdown on the bank load issues a TOP (Temporary Occupation Permit). Developers may also negotiate with the bank to offer more attractive financing packages for the prospective home buyers.
Defects Liability Period - Developers can guarantee buyers against any defects for the first 12 months from TOP.
Early Bird Discounts - Some developers can offer investors with special prices, especially for those who are willing to commit even before the showflats are ready. Developers can also reduce discount levels or setup prices especially when the sales is strong. Thus, early buyers stand to make paper gains immediately.
Choice Units - If you’re first on the list, all units released at hand is available for your selection.
Configurable - In most cases, many developers provides room for several or minor adjustments. These can include the selection of materials, tiles, finishes, or other modification that you want for your property.
But even if you do not hold a PR, you can still have the chance to own a property in Singapore through purchasing a developer’s unit that is relative to your preference, financial capability, and lifestyle that you’re intending to lead as you stay in Singapore. Buying developer’s unit in Singapore doesn’t only provides you the satisfaction of living here, but it also gives you the advantage of owning a property without any worries regarding the past proprietorship of the home. However, not all buyers are willing to take the opportunity of purchasing a new property, rather, they still go for a resale option, which on the other hand can cause numerous downside on their side. Hence, as a buyer, you need to be aware about the advantages of purchasing a developer’s unit instead of suffering from the cons of resale option.
Advantages of Buying From Developers:
Brand New Property - When you become the first owner of the property, investors doesn’t need to worry about the previous documents and proprietorship of the unit. Whilst, if you properly maintained your property’s value, growing the equity of your unit will not be a hassle on your end as equity can be later used for securing your future loans or securing your retirement.
Progressive Payments - Investors will have the advantage of managing their finances. The loan drawdown is stages and installment will also start in low rate, thus allowing you to build up the ‘nest egg’ during its construction. And if invested wisely, in purchasing the property may run you 100 percent profit just within the year. If one’s investment time horizon is within a limited period, say 2 years, you can sell your property into a risking market and even make profit out of it before the substantial drawdown on the bank load issues a TOP (Temporary Occupation Permit). Developers may also negotiate with the bank to offer more attractive financing packages for the prospective home buyers.
Defects Liability Period - Developers can guarantee buyers against any defects for the first 12 months from TOP.
Early Bird Discounts - Some developers can offer investors with special prices, especially for those who are willing to commit even before the showflats are ready. Developers can also reduce discount levels or setup prices especially when the sales is strong. Thus, early buyers stand to make paper gains immediately.
Choice Units - If you’re first on the list, all units released at hand is available for your selection.
Configurable - In most cases, many developers provides room for several or minor adjustments. These can include the selection of materials, tiles, finishes, or other modification that you want for your property.