{"id":1015,"date":"2023-08-02T11:23:41","date_gmt":"2023-08-02T03:23:41","guid":{"rendered":"https:\/\/www.99.co\/singapore\/glossary\/?p=1015"},"modified":"2023-08-02T11:23:42","modified_gmt":"2023-08-02T03:23:42","slug":"variance-definition-understanding-and-importance","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/glossary\/variance-definition-understanding-and-importance\/","title":{"rendered":"Variance"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-what-is-variance\">What is variance?<\/h2>\n\n\n\n<p>A variance is a request to deviate from current zoning requirements. In Singapore&#8217;s real estate market, variances can be used to allow for unique property developments or renovations.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Understanding variance<\/h2>\n\n\n\n<p>A variance is a request made to a governing body to deviate from set rules of development. It is often granted when the application of a zoning ordinance deprives a property of privileges enjoyed by similar properties because of special circumstances unique to the property.<\/p>\n\n\n\n<p><strong><em>Read more: <\/em><\/strong><em><span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.99.co\/singapore\/insider\/buying-old-properties\/\" target=\"_blank\" rel=\"noreferrer noopener\">7 things you can&#8217;t ignore when buying old properties in Singapore<\/a><\/span><\/em><\/p>\n\n\n\n<p>Variance requests are often reviewed by a zoning board or similar body, which considers factors such as the impact on the neighbourhood, the hardship to the property owner, and the public interest.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Importance of variance in real estate and property<\/h2>\n\n\n\n<p>In the context of real estate, variances can be used to allow for unique property developments or renovations that would otherwise be prohibited by zoning laws. For instance, a property owner might request a variance to build an extension on their home that would encroach on a setback requirement.<\/p>\n\n\n\n<p>Variances can also be used to allow for non-standard uses of a property, such as operating a home-based business in a residentially zoned area. In Singapore, <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.99.co\/singapore\/insider\/ura-master-plan\/\" target=\"_blank\" rel=\"noreferrer noopener\">the Urban Redevelopment Authority is responsible for reviewing variance requests and making decisions based on the Planning Act.<\/a><\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Conclusion<\/h3>\n\n\n\n<p>Variances can play a significant role in real estate, allowing for unique property developments or renovations. Understanding how variances work can help property owners and developers navigate zoning regulations more effectively.<\/p>\n\n\n\n<p>Obtaining a variance can be a complex and time-consuming process, and it&#8217;s often advisable to seek professional advice.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is variance? A variance is a request to deviate from current zoning requirements. In Singapore&#8217;s real estate market, variances can be used to allow for unique property developments or renovations. Understanding variance A variance is a request made to a governing body to deviate from set rules of development. It is often granted when&hellip;<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[92],"tags":[148],"class_list":{"2":"type-post","8":"entry"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.7 (Yoast SEO v25.3) - 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