A whole bunch of changes in rules were made during the National Day Rally 2010. It affects both HDB and private property owners.
Here is a summary of the changes:
1. If you buy a HDB resale flat now with no HDB loan or grant, you now have to occupy it for 5 years before you can [...]
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1. Seller’s Stamp Duty (SSD) is now applicable to any seller who sell their property within the 1st 3 years. (HDB sales are not affected due to MOP of 3 or 5 years).
2. SSD is calculated as:
- 1% for first $180,000
- 2% for next $180,000
- 3% for balance.
3. If property sold within:
- 1st year = [...]
1. Private property owners who buy resale HDB flats must now dispose of their private property within six months of purchase. This is to prevent private property owners from buying HDB resale flats for investment purposes.
2. All buyers of HDB flats now have to meet 5 year minimum occupation period (MOP) before reselling the flat [...]
The 5room flats for SkyVille @ Dawson and SkyTerrace @ Dawson and ranges between $532,000-$643,000.
According to HDB estimates, taking a midpoint pricing for the 5room flats, with a median salary of $6,500, the monthly installment over 30 years would be $2,108.
Gross pay: $6,500
Nett pay (after CPF): 0.8*6500 = $5,200
Mortgage payble via CPF = approx [...]
Kiyosaki believes that everyone belongs in one of the above quadrants. The main difference between the left and right side is, when people on the left stop working, their income stops as well (active income), whereas, when the people on the right stop, income still flows in (passive income).
This is better illustrated by the story [...]
Continue reading about Are you hauling buckets or building pipes?
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