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Hi Guru,
My wife and 2 kids are staying in a 4 rm (MOP) flat. Our first flat bought under BTO.

A couple of questions:

1. We intend to get a bigger BTO if we are lucky enough. I read that there are options to buy the new BTO where I am the buyer/owner and my wife to be listed as occupier? Can this be done? What are the advantages of doing so?

2. Wrt to 3Gen flats, Instead of Parent, Me and children... can it be Grand-parent, Me and children?

Thank you.
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3 Answers

YT Tan (陈永达)
Good evening,

You are able to purchase under public scheme and opt to have your wife as occupier. But do take note if you do so, loan will be based on your single income and only you as an owner is able to use your CPF OA funds to finance the loan, your wife as an occupier cant.

Some people did that so wife can purchase a private without being subject to ABSD after MOP is fulfilled.

As for 3Gen flats, you have to apply it with your parents. If you wish to apply with your grandparents, perhaps you have to check or appeal with HDB.

Do take note that resale levy of $40k is applicable if you purchase a BTO or new EC as your current flat is a subsidised flat.

By the way, care to share why you are thinking of getting another BTO?

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Dear Sir,

It is a good idea to upgrade to a bigger unit as your family grow. To address your question:

1. You can purchase as the sole owner with your wife being the essential occupier. People who adopt this approach want to leave the name of one party free of property so that he or she will be able to purchase a private property after 5 years without incurring the MOP. However, you may also want to take note that if there is only one owner, you may not be able to secure a loan amount as compared to two owners buying together!

2. It is possible to apply the 3G flat with your grand parents but you will need to write in to HDB to get the permission and approval. HDB approve the request on a case by case basis.

Please feel free to contact me so that I can understand your situation and requirements better so that I can provide you with further assistance!

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Nick Tan
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Dear sir/madam,

I believe both your questions have been adequately addressed by my fellow professionals.

Take note that resale levy applicable in your scenario described. We are running a new program called BREW (Building Real Estate Wealth), where we look into the finances of our clients with assistance of bankers and explore all different options available for our clients such that our clients can benefit from this information to make the most informed and applicable decision for the benefits of themselves and leave a good legacy for the future generations, where it is a well known fact of a rising price trend in real estate over the years and for the years to come.

It is important to plan carefully and with proper knowledge and support from our partners, this can be done with relative ease and no obligations.

Get in touch with me in private for further discussion if you wish to look into this aspect as we are not alerted to any responses here.

I look forward to hear from you soon!

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