Singapore has excellent places where buying a property is not risky. If you are looking for a property for your residential and commercial purposes, you will have a great investment in this country. If you are considering transportation, there is nothing to worry because bus services and other kinds of transportation are being developed and enhanced, which is also available in the whole country; so, you are not taking any risk. In addition, you will be exposed to a lot of opportunities that you cannot afford to miss. Aside from these considerations, you also need to think about other important things like your budget. To guide you with the process, here are the following budgeting tips that you can use.
- Ascertain your type. The first thing that you need to do is to know the house you prefer and your status as a buyer. Are you searching for a HDB flat, landed home or a condominium? Are you married, single, a Singapore citizen, a permanent resident or a foreigner? You can be able to buy a landed home or a condominium regardless of your nationality and marital status as long as you are 21 years old. If you are single, you can purchase HDB flat. However, you should be 35 years old. If you are a foreigner, you cannot buy HDB flats. Once you are already aware of your type, you will be guided all throughout the process. You are assured that you will have a great investment as well.
- A buyer’s responsibility. As a buyer of a property, you will pay taxes. If you are a permanent resident, you will pay the Additional Buyer’s Stamp Duty (ABSD) for about five percent. And if you are a foreigner, you will also pay ABSD for about 15 percent. The tax that will be charged to you will depend on the market value of the property. If you decide to buy a very expensive residential or commercial establishment, it requires higher tax. But the percent to be imposed is the same as given above. The taxes that you will pay is just part of selling a property. Since, Singapore has a lot of places that are great to visit, your commercial building will be productive. You will never know, a few years from now, you will be successful in the industry. And if you will buy a condominium for your residential purpose, you will experience a holistic experience when it comes to historical places of the country and other places of interest.
Do you know that you have more chances of being successful in buying a property for your small commercial business? It is because the budget for 2018 in the country will be more focused on helping your business to be competitive despite of the challenges of the economy. So, take advantage of it! Knowing the budgeting tips and the anticipated budget for 2018 in Singapore, you will be helped a lot especially if you are planning to purchase a commercial building for your small business. Thus, you have to grab the opportunity now so that you will never miss it.