Buying HDB Resale Flat

Thinking of buying an HDB resale flat?

The purchase of an HDB resale flat is the most expensive investment of a lifetime for most people and would need a long-term financial commitment. To help you obtain an ideal HDB resale flat within your affordability and budget, following are the few key points to take note before committing to buying your home.

Eligibility To Buy Resale HDB

There are various eligibility schemes under which you can buy an HDB resale flat:

  • HDB Public Scheme
  • HDB Fiance Fiancee Scheme
  • Single Singapore Citizen Scheme
  • Joint Singles Scheme
  • Non-Citizen Spouse Scheme
  • Non-Citizen Family Scheme
  • HDB Orphan Scheme
  • HDB Conversion Scheme

You need to check if you are eligible for an HDB resale flat.

HDB Resale Financial Plan for Buyer

You will need to carefully manage your cash and CPF savings, as well as secure financing through either HDB housing loan or housing loan from bank, if necessary. Following are some of the financial considerations for buying an HDB resale flat:

  • Costs and Fees for Buying HDB Resale Flat
  • Cash Payment for Buying HDB Resale Flat
  • HDB Resale Flat Down Payment
  • Using CPF Savings
  • Housing Loan
  • CPF Housing Grant Scheme
  • Enhanced Contra Facility
  • Silver Housing Bonus

Find out the useful information here to help you plan your finances before your HDB resale flat purchase.

HDB Buying Process for HDB Resale Flat

How to go about buying your HDB resale flat? To buy an HDB resale flat, you can either engage a salesperson to assist you, or manage the transaction on your own.

During the whole HDB resale flat buying process, there are many unexpected factors will impact your buying decision. Therefore, it is very important to understand the whole process.  We will go through the following:

  • HDB Resale Timeline for Buying HDB Resale Flat
  • HDB Resale Application for Buying HDB Resale Flat
  • Checklists for Buying HDB Resale Flat

Before you commit to buying an HDB resale flat, make sure that you have enough time to make necessary preparations.

HDB Housing Loan

When it comes to buying an HDB resale flat, you will need to carefully plan for your housing loan. Following are some of the considerations you need to take note:

  • HDB Loan for Resale Flat
  • HDB Loan Eligibility
  • Bank Loan for HDB Resale Flat
  • HDB Loan Vs Bank Loan
  • Mortgage Servicing Ratio

You must have a valid HLE letter or a Letter of Offer from bank, before you exercise the Option to Purchase for buying an HDB resale flat.

CPF Housing Grant Scheme

There are different CPF Housing Grant Schemes that can help you with your cash flow, to reduce your cash outlay:

  • CPF Housing Grant for Family
  • CPF Housing Grant for Singles
  • Half-Housing Grant
  • Proximity Housing Grant (PHG)
  • Additional CPF Housing Grant (AHG)
  • Citizen Top-up
  • Top-up Grant

You need to check if you are eligible to receive a housing subsidy to help with the purchase of your HDB resale flat.

HDB Silver Housing Bonus

Do you own a bigger HDB flat that is more than what you need? You may consider to right-size your HDB flat by buying a smaller HDB flat type. Not only the cash proceeds from your HDB flat sale, the Silver Housing Bonus will also enhance your retirement income greatly.

Find out how you can buy a smaller HDB flat and use your net sale proceeds to top up your CPF Retirement Account and join CPF Life.

Call Joanne Ng at
+65 9151 1871
for A Non-Obligation Discussion Today!

No Matter Of Which HDB Resale Flat You Are Interested In …

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