Dual-key units: An alternative method to owning a second property

By EdgeProp Singapore / Redbrick.sg | June 5, 2018 6:17 PM SGT
While every Singaporean talks and dreams about owning multiple properties across the sunny island, and then retiring comfortably on the stable stream of rental income – how many actually achieve it?
And why is it tough for those who are struggling to achieve it?
As for majority of the population, after saving the bulk of your salary for years to finally be able to put the down payment on your first property, congratulations! You have now successfully landed yourself in the biggest debt of your life! It makes it so much harder to save up for the down payment for subsequent properties-to-come as you will now be tied up with your first mortgage.
Also, with the cooling measures in place, the above mentioned dream is shattered for most. Today, I’ll share a little more on what I find is an alternative way to kick-start this journey. For a start, the entry to this highly sought after way of life is to first get a dual-key unit.
What is a Dual-key unit?
First introduced in 2009 to the private property market, dual-key units are two homes sharing a common main door and foyer under a single title.
Source: mysingaporecondo
Most commonly seen is a studio attached to a 3- or 4-bedroom unit, and there are various ways in which this feature is beneficial to the owner. Let’s take a look at some examples.
Scenario 1: Newly-wed couple and their parents can stay together without compromising on privacy.
There are many perks to having your parents staying with you, especially for newly-weds whom are planning for kids. There are no better nannies than your own parents who had brought you up, they will know what is good for your precious little one(s), not forgetting the joy your parents get from looking after their grandchildren.
There are also other perks such as having warm and hearty home-cooked food every day after a long day at work; it also puts aside other worries such as the perils of aged parents living alone in their own homes.
Now comes the monetary benefits – your parents can then...