Determining Your Financial Status After Selling and Before Buying

What most first-time buyers and first-time sellers are not prepared for; the Buyers and Sellers Taxes.

Buy with Prudence

The most common mistake which buyers make with this is to get emotionally attached to the idea of owning their dream property before considering the various taxes for that property. Once the taxes are included, and they are found to be just out of budget, they tend to overinvest with loans or borrowing.

Your financial status after selling a property and/or before buying a property has to be calculated with the various Stamp Duties in Singapore, and knowing your Total Debt Servicing Ratio (TDSR).

Stamp Duties: Taxes for your Property

Depending on your citizenship status, and current property ownership status, you are eligible to pay for different percentages of Stamp Duties. Do consult your property agent for more information.

BSD – Buyer’s Stamp Duty

ABSD – Additional Buyer’s Stamp Duty

SSD - Seller’s Stamp Duty

TDSR – Total Debt Servicing Ratio

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The process of calculating and planning for a move can be confusing. You may choose to consult an experienced property advisor before you make major moves.

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