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BTO or resale flat? Whichever you choose, getting your dream home is easier now with HDB’s enhanced housing grants

Higher grants, more choices for first-time HDB flat buyers

You’re ready to buy your first home and while the journey ahead is exciting, it can also be daunting. It’s a big decision; you’re weighing your options and going over your finances. Maybe you’re undecided if a resale flat or a BTO flat will better suit your needs. Good news! Put those worries to rest. HDB’s recent announcement on enhanced housing grants will make housing more affordable, and raised income ceilings will benefit more first-timers, who now have more housing options.

Enhanced CPF Housing Grant (EHG): Restrictions lifted on flat type and location

On 10 September, the Government introduced a new Enhanced CPF Housing Grant (EHG) to replace the existing Additional CPF Housing Grant (AHG) and Special CPF Housing Grant (SHG). To benefit more first-timers, the EHG applies to all eligible buyers in the purchase of a new or resale flat. Furthermore, there are also no restrictions on choice of flat type and location.

Resale flat

On top of the $50,000 CPF Housing Grant for eligible first-timer families purchasing resale flats, the new EHG of up to $80,000 can be yours. The income ceiling for the EHG is $9,000, and the flat’s lease must cover you until you are 95 years old. If you buy a flat that does not meet this condition you will still benefit from the EHG, but the amount will be pro-rated. Together with the Proximity Housing Grant (PHG) of up to $30,000, you can enjoy up to $160,000 in grants.

New BTO flat

If you’re not in a hurry and would like to plan for your wedding or travel around the world first, a BTO flat may be more suited to your timeline. You will also benefit from the EHG as a first-timer family, regardless of flat type and location, and can enjoy up to $80,000 in grants, at an income ceiling of up to $9,000. Now, you have a wider range of BTO flats to choose in terms of size and location.

Plus, the EHG is applicable to first-timer singles too! If you are aged 35 and above, and earning not more than $4,500 a month, you can enjoy an EHG (singles) of up to $40,000, with the same conditions.

Find out more about the housing grants that you can benefit from at https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/first-timer-applicants.

Proximity Housing Grant: Having family close by

Apart from the numerous benefits and convenience of having loved ones close by, there are also other perks to living with, or near your family. Families or singles who buy a resale flat within 4km of their parents’ home will receive $20,000 and $10,000 respectively, under the Proximity Housing Grant (PHG) that is disbursed to promote family ties. If you buy a resale flat to live with your parents/child, families and singles get $30,000 and $15,000 respectively.

Widening the pool

There’s also more good news for flat buyers. The income ceiling has been raised so that more Singaporeans can qualify for public housing.

With the increased income ceiling of $14,000 (up from $12,000), more eligible families can:

  1. Buy a flat from HDB;
  2. Buy a resale flat on the open market with a CPF Housing Grant (and PHG, if eligible); and
  3. Get an HDB housing loan for the purchase of a new or resale flat.

Similarly, the income ceiling for eligible singles aged 35 and above has also been raised to $7,000 (up from $6,000).

What’s more, for those who have set their sights on an Executive Condominium (EC), the monthly household income has been raised to $16,000 (up from $14,000).

Need ideas on designing your apartment? Visit MyNiceHome Gallery at HDB Hub Biz Four, 3rd storey, or https://esales.hdb.gov.sg/bp25/MNHG/eamnhindex/index.html to check out the virtual showflats.

You can also visit MyNiceHome.sg, www.facebook.com/mynicehome, and www.instagram.com/mynicehome for more tips on building your dream home. Hop over now and be inspired by the many design ideas and interesting stories from other homeowners.

Brought to you by the Housing & Development Board.

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