Hi
Assuming you are a first timer Singaporean, you are eligible for singles grant of $25k (4 room or below) and EHG grant (based on your pay) of $12,500. You may be eligible for PHG grant of $10k should you purchase a house within 4km from your parent address. From your profile you provided, you may also be eligible for maximum HDB loan quantum in a range of $218k. Together with your CPF OA and cash savings, you might be able to afford a flat in $440k range (4 room or below). As you are already 40 this year, it is very crucial for you to plan your housing needs now. This is the last year HDB may grant you a maximum loan tenure of 25 years as HDB have a policy of reducing the maximum loan tenure if the loan tenure could not last you till 65 years of age. If you decide to wait further, your maximum loan tenure will be reduced by 1 year every year affecting your maximum loan quantum too (your maximum loan quantum will also be reduced every year). As HDB prices is on an increasing trend, a reduced loan quantum might limit your choices in the future. For your statement of ;'overstretching yourself financially', this is quite subjective depending on each individual comfort level. I will explain more in details of your financial commitment for different price range if we get a chance to meet up. I am specialized in HDB transactions and have assisted many single buyers like yourself in securing their first house purchase. In addition, the vast majority of my buyers managed to secure a house without any COV despite the current market situation. I would be glad to assist you further if given a chance. Do contact me at
93375051
for a free and non obligatory discussion on this.
Regards
Taufik Hussein
Marketing Director
ERA Realty Network Pte Ltd
CEA Reg No: R061697B
Contact No:
93375051
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