Friday, November 6, 2009

CPF Housing Grant

There are two types of  housing grants available for getting an existing HDB for sale: Family and Singles


Family type of grant

You would be able to obtain a housing grant to buy the HDB flat if you and your spouse are getting a HDB for sale for the very 1st time, and did not previouly obtained a housing subsidy before.

This housing grant comes in the form of cash that would be deposited into the couple's CPF account. This is provided by the goverment so that Singaporeans can afford to purchase a resale flat from the open market for the very first time.

Please note:
All the persons who are listed as occuping the flat must meet the prevailing eligibility conditions for the CPF Housing Grant, such as:
* You must be a first-timer household
* Must meet the income ceiling requirement
* Must be a citizen
* Do not own private property

In addition to the family type of grant, a person can also apply for Additional CPF Housing Grant (AHG). This is valued between $5,000 and $40,000 on top of the family type of grant. However, they do need to meet the eligibility conditions.

For persons who obtain HDB for sale directly from the Housing Development Board, only the AHG is available. This too depends on certain conditions being met. In addition, there is no other grant to be obtained. as these HDB for sale are already sold at a subsidised price.


Singles type of grant

If you are a unmarried singaporean getting a HDB for sale for the very first time, and have not obtained any subsidy for housing previously, you can apply for the CPF housing grant in your purchase of HDB for sale.

This grant is a subsidy provided by the government to help eligible first time buyers to purchase a resale flat from the open market. These are the conditions to be met:
* You should be single and aged 35 (or above). Those who are buying a resale HDB flat to live on their own, under the Single Singapore Citizen Scheme (SSC) can apply for a Singles Grant of $11,000
* 2-4 singles (singaporeans) aged 35 (or above) can jointly obtain a HDB for sale under the Joint Singles Scheme & apply for a maximum of a pair of Singles Grants (worth $22,000)
* A singaporean aged 21 (or above) who marries a non-citizen spouse (he/she must have a social visit pass with at least six months of validity) can purchase a resale HDB under the Non-Citizen Spouse Scheme and apply for a Singles Grant (worth $11,000)
* Single citizens aged 35 (or above) can purchase a resale flat to stay with their parents, under the Public Scheme. He or she can then apply for a higher-tier Singles Grant (worth $20,000)
* Singles purchasing a HDB for sale under the JSS can also apply for the higher-tier singles grant. Each of them can apply to obtain a $11,000 to $20,000. The amount will depend on whether his/her parents are going to stay together with them in the apartment that they have intended to purchase. For siblings buying a resale flat under JSS, the grant amount is $20,000 for one sibling and $11,000 for the other.

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