By : Britina Tan
27 February 2017
Thinking of making an offer for that dream resale flat, but not sure about your finances? Now you can! The increase in housing grants for resale flats announced at the Budget 2017 will help first-timer home buyers, families and singles included, to buy a resale flat.
Higher grants for 1st-timer families
With immediate effect, the CPF Housing Grant for resale flats will now be $50,000 for families buying 4-room or smaller flats, and $40,000 for families buying 5-room or larger flats.
Together with existing grants such as the Proximity Housing Grant as well as the Additional CPF Housing Grant, a family could potentially receive $100,000 in grants when buying a resale flat!
Benefits extended for 1st-timer singles
First-timer singles buying resale flats will similarly benefit from the enhancements to the CPF Housing Grant. The grant quantum, which is half that for families, will be increased to S$25,000 for those buying a 4-room or smaller resale flat; and to S$20,000 for those buying a 5-room.
With the enhanced housing grants for resale flat buyers, first-timer families and singles have more affordable options when it comes to home hunting.
More housing choices? Yes!
For a quick recap on the grants enhancement, head over here. Follow us on Facebook for more updates on buying/ selling your HDB flat.