Hi,
1) There is no wrong when you are buying for your own stay.
2) First you have to find out your financial status to decide which flat types and area that is most suitable.
3) Apply for HLE (HDB loan - valid for 6 months) if you are an SC. Apply for bank IPA if you are SPR. Following is the instruction for the HLE application:
https://www.hdb.gov.sg/cs/infoweb/-/media/doc/EAPG-COS/retrieve-draft-hle-application.pdf
4) Once you received the loan amount, look into both your CPF OA to confirm your budget.
5) Do remember there is stamp duty and legal fee involved in the purchase.
6) You may check on this web to know the various costs and fees:
https://www.hdb.gov.sg/residential/buying-a-flat/resale/financing/costs-and-fees
7) Check on the grants available and whether you are eligible for them. You can use these grants for your down payment or reduce your loan.
The grant will deposit into your CPF OA for flat purchase once approved:
https://www.hdb.gov.sg/residential/buying-a-flat/resale/financing/cpf-housing-grants
8) Once all the above are done, you should be in a good position to understand very well are you ready for this purchase.
9) Register "Intent to buy" (Valid for 12 months), after doing the above:
https://services2.hdb.gov.sg/webapp/BB31AWDashboardWeb/BB31PLogin.jsp
10) You are good to set off for your home searching journey. All the best!
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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