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📣 COPY THIS SPREADSHEET INTO YOUR OWN GOOGLE DRIVE SO YOU CAN EDIT AND ENJOY 📣
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This Singapore Property Calculator [2023] is brought to you by Michael Duyvesteijn
Michael is a VC-backed founder turned solopreneur
Do reach out via LinkedIn if you have any comments or questions about this spreadsheet
https://www.linkedin.com/in/michael-duyvesteijn/
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Hey! 👋
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Good to have you here. Welcome to this Singapore Property Purchase Calculator [2023]. 😃
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Goal
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With this spreadsheet you can figure out if buying a property is a financially wise decision for you by comparing 3 scenarios.
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Assumptions used in calculator
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It is assumed that the following applies to you:
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- You are looking to buy a condominium or EC (that has met its Minimum Occupancy Period depending on your resident status). Not an HDB
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- You are a single buyer. For multiple buyers: Pretend as if you are a single buyer - While there's more to it, it should mostly affect income tax calculations (minor influence)
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- You are a Singapore tax resident
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- You are looking to get a mortgage
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How it works
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This spreadsheet has 4 tabs:
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- 1. Input (split in 2 parts, with an intermediate Eligibility Check)
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- 2. Results (containing both a Profit&Loss and Cash Flow Statement)
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- 3. Facts (this has all the background information, for reference)
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- 4. Calculations (this is where the magic happens 🪄, if you wanted to dive into the nitty-gritty)
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What you should do next
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You can get to your outcome, by tweaking the 1. Input tab. This is done in 2 steps:
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- The first input is to see your eligibility to purchase a property in Singapore, assuming you need a mortgage. You can quickly take stock of this in the "Eligibility Check"
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- The second input is to finetune the accuracy of the 3 scenarios
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How to read the results
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Three scenarios will be compared in the 2. Results tab:
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- Don't Buy: This is if you don't end up buying and would continue renting your current property
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- Buy To Occupy: This is if you buy the property to live in it yourself
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- Buy To Let: This is if you buy the property, but decide to let it out to a tenant and continue renting your current property
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For these 3 scenarios you can interpret the results both for Profit & Loss and for (monthly) Cash Flow:
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- Profit & Loss is handy to understand in which scenario you would lose the least money and - if you see it as an investment - what would be the best return
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- Cash Flow is handy to understand how on a monthly basis your money flow in/out would look like
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I hope this sheet is helpful! Please do reach out to me in case you found any mistakes or would like to see any improvements 🙏
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P.S. This is not financial advice and this calculator is for informational purposes only 🥸
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