Prelocation Arrangement You Should Know

4 Pre-relocation Arrangements You Should Know And never COI your car at cost

Often, what makes us headache the most is the arrangement of home matters. Things like your Housing arrangement, Pets arrangement, your bills, your education etc. They are a few options to the arrangement. Pick the one that suits you best.

House

If you own a house or HDB in Singapore, these are some options that you can arrange.

  • SELL
    Selling your house will depends on alot of factors. And if you are relocating for a long term or short term.
    - Your Financial
    - The market value of your house
    - Timeline, If you are in a hurry to sell your house, you may lower bargaining power as time is your constraints.
    - MOP (Minimum occupation Period) - if you are a HDB owner, have you fulfilled your MOP, 5 Years for HDB. (READ)
    - Guide to Selling your House (READ)
  • RENT
    If you will be relocating for a short term, this is a viable option. As the rent may be able to cover your loan installment. Take note of the repair fees to set aside when you return. 
    - Is the rent enough to cover the loan & repair cost?
    - Renting out the house also increases your property tax. (READ)
    - Are you eligible to rent our your HDB (READ)
    - Will renting your rooms instead of the whole unit be more viable?
    - A Tenancy Agreement Template (Download)

    What if you want to rent out but you have not fulfilled your MOP?
    Well, you can email to HDB and request for approval to rent out your premises. What you usually need is a letter from your company notifying of your relocation. However, your MOP will be delayed. (READ)
  • FAMILY / RELATIVES / FRIENDS
    You may also opt for this option if you have no plans to sell your house or rent. Families or relatives will and can help you to take care of the house, only if you are comfortable.
  • Leaving it Empty
    You sure anot? Your loan who pay? Your Property Tax?

Vehicle

It is not cheap to own or drive a car in Singapore. It is even more expensive to own and not drive your car. (Parking Charges, Road Tax etc)

  • SELL
    A car is a liability, the moment you own one. Selling will minimize your expense. And also it depends on these few factors for your decision.
    - Your financials
    - The market value of your car vs your loan
    - Whether if you are relocating long term
    - How to sell your car (READ)
    - Different ways to sell your car (READ)
  • RENT OUT
    In Singapore, renting out your car has been increasingly popular due to Uber and Grab. But private car owners in Singapore cannot rent out their cars through car rental companies. And there are companies that will "take in" your car. Some consideration before you decide.
    - Does the revenue covers your loan?
    - Are you okay with Grab/Uber drivers hooting your car 200km a day?
    - Guide to Renting out your cars (READ)
  • CARRY ON INSTALLMENT (COI)

Similar to the earlier rent out, COI is to individuals instead of companies.

There is much more considerations to COI your car to individuals as you will have lesser control considering you are still the owner of the car.
- How much to charge?
- Does your charges include the maintenance and servicing?
- How about insurance?
- What if there is an accident?
- What if in the event of total loss?

Never COI your Car at Cost. You will need the excess amount to repair/service your car.

Pets

It is not cheap to own or drive a car in Singapore. It is even more expensive to own and not drive your car. (Parking Charges, Road Tax etc)

  • RELOCATE
    Ideally, this will be the best solution.
    - How to relocate your pets (READ)
  • FAMILIES / RELATIVES / FRIENDS
    If your family or relatives are open to this idea. They can help you take care of your pets.
  • PUT UP FOR ADOPTION
    If none of the options work out above, no choice but to put up for adoption. 

Utilities / Subscriptions / Memberships

When you are away, there could be existing bills and subscriptions that you have enrolled. If possible, terminate the accounts so that you not forget to pay and incur unnecessary charges.

  • Telecom / Internet Service Provider
    If you are on a contract and unable to terminate, check with the provider if they can suspend your account and how much does it cost?
  • Banking / Credit Cards
    If possible, terminate your credit card except for those that you intend to use overseas. If not, opt for E- statement so that you have access to your statements.
  • Credit Cards
    If possible, terminate your credit card except for those that you intend to use overseas. If not, opt for E- statement so that you have access to your statements.
  • SingPass
    For Singaporeans or PR, you will have a SingPass account. Remember to set up your 2FA before you leave. (READ)
  • NS Matters
    For Male Singaporeans or PR, when you need to relocate for 6 months of longer, you will need to apply for an EXIT PERMIT (READ)

If your trip is less than 1 year and you have been scheduled for NS training during the period of overseas trip, you are required to obtain approval from your NS unit before applying for an exit permit.

You are also required to first obtain approval from your NS unit if the trip is 1 year or longer and your NS training scheduled within 6 months from the date of application for exit permit. Otherwise, you may apply for you are exit permit directly through the Internet.

No documentary proof is required for application of exit permit by NSman except for randomly selected applications that are prompted through the system.

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