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[Article] 2 Ways You Can Buy Your Dream House Despite The Recent Cooling Measures


2 Ways You Can Buy Your Dream House Despite The Recent Cooling Measures

When MAS released on January 12 new measures to cool down Singapore’s property market, you ask yourself if the dream of having a house of your own will just remain a dream.

The Additional Buyer’s Stamp Duty that was implemented has changed your budget and no matter how you put it, you think that there’s just no way you can come up with that additional expense.

Be as it may, I’m here to tell you not to be discouraged. This is not where you stop with your dream home. Consider this as a speed bump.

Times are changing. The economy is changing. Which suggests that you should change how you view this situation.

It’s not a problem. This is a challenge.

With this mindset, I’d like to offer you two ways how you can still buy your own home NOW.

1. Adjust your expectations.

Your main goal in buying a home is to save money. If you are renting a house now, then your target is to have that rental expense pay for your monthly mortgage loan soon.

So you need to adjust both your budget and your home requirements. What does that mean? Here’s an example.

If you have set your heart to buy an HDB flat with 3 bedrooms,  find a house that has been improved with an additional room, or a provision to make for another room.

These kind of HDB flats are 3-room flats with additional utility rooms due to a Space-Adding Item from a Main Upgrading Programme.

HDB 3-Room Standard upgraded with utility room

HDB 3-Room Standard upgraded with utility room

With a little imagination, you can convert this utility room into a bedroom just cozy enough for a person or two. So now you have a 3-bedroom flat for the price of a 2-bedroom flat.

This will greatly lower your ABSD especially if you don’t have enough CPF Ordinary Account.

On top of that, find a simple flat that is of move-in condition. If you don’t mind having the house at a lower level, then that would be better for the whole of your budget.


2.  Look beyond Singapore

Singapore is not the only place you can have a dream house. With its current property outlook, there are plenty of overseas properties you can invest in.

Let’s just take a look at the Philippines’ emerging property market. With the advent of designer-rich and value-for-money properties in the country, you can choose great locations such as Makati City, Bonifacio Global City, and Quezon City to buy a dream house or two thatis very light on the pocket.

Just have a look at the Eton First Homes located at Pasong Tamo.

Eton First Homes, Makati (Philippines)

Eton First Homes, Makati (Philippines)

A residential condominium in the financial capital of the Philippines that will only set you back a little around SG$500.

The catch, a 2-bedroom unit is only at 18sqm. The super-catch, it comes with full condo facilities, 24/7 security, fully-furnished and move-in ready. And did I mention that it comes with a coveted Makati lifestyle?

Now that’s a whole lot of upside.


If you have set your heart into owning a home that you can truly call yours, then don’t let a little setback discourage you.

Be well-informed.
Be money-smart.
And be happy 🙂


One comment on “[Article] 2 Ways You Can Buy Your Dream House Despite The Recent Cooling Measures

  1. Singapore Jobs
    March 10, 2013

    Great tips to get your dream house! Will share this to my friends 🙂

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