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Hi guru,
I am doing research to get a 3 room HDB resale unit as a 1st timer but still unclear as below

- I (above 35, SG) have married to my SPR spouse. I am looking to get a flat & understand the remaining lease must be able to cover the youngest age in the household. I opt to be the owner & SPR spouse to be occupier, is it mean the youngest age counting will be in me as owner, Singaporean?

- I also went thru the HDB site & did my own calculations (OA $92k+ HLE $183k+ Grant), i can apply grant of $40K & 20K (PHG). Can I add these grant in it as my total budget when looking out for a 3 room unit that ranging $300-$310K?

- In the event if I have shortlisted this unit & paid the before/after (booking + option fee) sums & proceed exercise the unit. Will it happen the approval grant show a lot lesses what it was & I have insufficient fund on hand. Do we have a choice to cancel the deal? Or if need to inform seller first & be agreed before proceed further? Thank you
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1 Answer

Taufik Hussein
Replied
Hi sir
Yes if you only include your spouse as an occupier the yougest age for remaining lease requirement purpose only covers you as the owner. As for first timer grant, besides the family grant and PHG grant, you might also be eligible for EHG grant provided your household income is less than $9. The amount varies between $5k to $80k based on your household income. The grant will be deducted to the final price of your hosue. However do note that stamp duty do apply. Do be careful not to overpay for a flat beyond it's valuation as you will have to top up the difference in cash as CPF usage and loan is restricted up to valuation. You have to place an offer after studying the trends recent transaction price as valuation report will only be out agter you place an option. You are not allowed to cancel the deal once you exercised the option and the consequence of doing so depends on whether the seller wanted to take any legal action against you. Normally you won't have any problem with insufficient fund if you do your calculations right. I do provide free and non obligatory service in regards property transactions. Do contact me at 93375051  for a discussion on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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