Have you gotten your BTO before the SEPT Launch?
Are you going to exercise your option for your resale flat?
What are the differences if you exercise your option after 24 AUG 15?
What are the differences if you decide to forfeit the current BTO, and await the SEPT Launch?
Let us try to understand what are the significant changes to the Grants available after the National Day Rally 15′ and see how it will affect you and I!
FIRST of all,
you have to understand the types of grants you are eligible for when you buy a
RESALE FLAT and when you buy a BTO FLAT.
FOR RESALE FLAT:
you are eligible for CPF HOUSING GRANT + ADDITIONAL HOUSING GRANT
+ PROXIMITY HOUSING GRANT (AFTER 24 AUG 15)
FOR A BTO FLAT:
you are eligible for SPECIAL HOUSING GRANT + ADDITIONAL HOUSING GRANT
AFTER knowing this, then it is applicable to know what are the NEW UPDATES to the grants.
1. CPF HOUSING GRANTS (FOR RESALE FLATS)
CHANGES YOU NEED TO KNOW:
a. ADDITIONAL PROXIMITY HOUSING GRANT/
REMOVAL OF CPF HOUSING GRANT FOR FAMILY LIVING NEAR PARENTS
Before 24 Aug 15,
a first-timer family is eligible for Housing Grant for Family at $30k assuming SC/SC Household + additional $10k if living nearing parents.
After 24 Aug 15,
the additional $10k is removed,
and added with the new PROXIMITY HOUSING GRANT (click here for more info), where a family is eligible is eligible for up to $20k worth of subsidies if they have never received PHG Grants before.
b. INCREASED INCOME CEILING
FOR EC BUYERS, income ceiling has also increased from $12k-$14k!
2. SPECIAL HOUSING GRANTS (FOR BTO FLATS)
CHANGES YOU NEED TO KNOW:
a. SEPT LAUNCHES WILL SEE AN INCREASE IN GRANTS FROM 20K TO 40K
From July 13 to May 15, the SHG Grants are capped at 20k.
However, from SEPT launches onwards, SHG Grants are increased to 40k.
With the Additional Housing Grants (unchanged), you are able to receive up to 80k worth of grants, from the SEPT Launches onwards, assuming you’re eligible.
THESE ARE THE TWO CHANGES IN THE HOUSING GRANTS AVAILABLE.
Essential questions to ask yourself:
1. How can I benefit from the PHG, if I am a second-timer and I can apply again?
Does it mean that I can shift again?
2. Should I forfeit my current BTO and apply for during the SEPT Launch so I can apply for more SHG Grants?
Will it mean that more people are doing that and my chances are further diminished because a further 20k grant?
Furthermore, I will have less chances during my next ballot.
3. With an increase in Income Ceiling, I am eligible for more grants,
is it a good time to buy a property since property prices are lower?
4. With these grants, is a BTO or Resale Flat better now?
IF YOU HAVE ANY OF SUCH QUESTIONS OR WOULD LIKE MORE ASSISTANCE IN ANSWERING YOUR QUESTIONS, FEEL FREE TO CALL/WHATSAPP ME AT 9277 4372, OR EMAIL ME AT KENSEAH@HSR.COM.SG
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