Property
Should you buy a second home as an investment?? (Part 2 – Revenue)
By FinancialVeracity  •  September 21, 2016

Everything so expensive

Now after knowing all the Cost/Other factors in Part 1, let’s move on to the only way to get a Second Home.

Utilising CPF – If only you never wipe out your CPF after your 1st house

  • You can only utilise it if your CPF(OA/SA/CPIS-SA) have more than Half of the prevailing CPF minimum Sum currently at $80,500 [$161,00/2].
  • If your CPF surpass the $80,500 mark ( You can only use the excess – the amount above $80,500)
    • How much can you use?
      • Valuation LimitPurchase Price or The Value of the property (Which ever is lower)
      • Withdrawal Limit (Maximum amount use on private property) – 120% of Valuation Limit
    • Which can you use?
      • You are first entitled to use the valuation limit which is 100%
      • In order to use the Withdrawal Limit your CPF have to set aside the Basic Retirement Sum (BRS) in your ...
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By FinancialVeracity
24 and on a constant lookout to improve my financial literacy in order to achieve “Financial Independence”. The sole purpose of writing this blog is to give whatever little financial knowledge I have to everyone.
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