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Good morning Niky,

You have to be at least 35 years old to be eligible under Single Singapore citizen scheme to purchase a resale HDB. As your income has exceeded income ceiling of $5k, you are only eligible to take bank loan.

As for private property purchase, there wont be any restriction. You can purchase one as of now.

If you need any assistance or advice in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.tan@propertyavenue.com.sg
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More

Hi Niky
How many more months before you turn 35? You need to be 35 to buy a resales HDB. However, if you are keen on Condo, you can buy anytime if you have the initial downpayment. Write to me at silviac@singnet.com.sg or all me so that I can send you a spreadsheet on the payment for HDB and Condo.
Silvia Chua ERA 9750 8318  Read More

Hi,

You need to be 35 years old and above to purchase resale HDB. As your income exceeds 5K, you are only eligible for bank loan.

As for private condo, there are no issues, you are eligible to purchase one now and you can only take a bank loan for it.

Thanks and may I understand your requirements and value-add to your housing plans further?

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Morning Niky,

You will only be eligible for purchase of HDB unit upon reaching 35 years old. With your income, you will have obtain loan from bank. As for private property, you will be immediately eligible for the purchase without the need to wait till age 35.

Do contact me further for detail discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi Ms Niky,

Thanks for your post on Propertyguru.

Yes you are right that you are eligible to purchase HDB resale flats and there are no restrictions to the type of HDB flats that you can purchase. You also asked about Ex condo which I presume you are referring to Executive Condominiums (EC). For ECs, you cannot qualify to purchase this yourself but you can purchase with another single under the Joint Singles Scheme. The co-applicant will also have to 35 years old and above. The issue is, for ECs, there is an income ceiling of $12,000 which you are already earning $10,000.

Judging from the facts provided above, I think ECs may be a little tough so you may wish to consider purchasing a condominium. Of course I personally feel that HDB is quite a good choice too.

Maybe I can suggest that we can meet up for a chat and we can talk a little more on your buying requirements. No worries as there are no obligations and we can just take it as a chat. Some of my clients have written testimonials for me and you may read some of them on my website, www.jeffreyheng.com. I believe I will be able to provide some sound advice to you.

Looking forward to hear from you soon!

Best Regards,

Jeffrey Heng
Branch Division Director
ERA Realty Network Pte Ltd
SAEA Real Estate Excellence Silver Award - Best Client Service
(2014)
SAEA Real Estate Excellence Award Nominee - Best Client Service
(2012/2013)

Mobile : +65 9858 1322 
Email : hengjeffrey@gmail.com
Web : www.jeffreyheng.com Read More

Hi there,

You will wait till you turn 35 to purchase a resale HDB.
You could alternatively also consider private property without any restriction at any moment. With the market downside and sliding private residential prices, you may wish to leverage and opt for a private Property. HDB are no longer seen as appreciation factors compared to condos which have a high scope of appreciating factor. There are high level of discounts and firesales as high as 30% ongoing which you may wish to have a look.
Do contact me at 96659926  to understand your requirements and expectations to asses which residence type is best suited.

Visit my website to view all my recent accolades - esteemed awards and testimonials to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com

#1 team of ERA in Singapore, Asia Pacific International for 2014.

About Me-
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2015 February ERA Top Achievers
2014 Aug/Sept/3rd quarter/Dec/ overall 2014 ERA Top Achievers Read More

Hi Niky,

I'm sure you understand that you have to be 35 years old to purchase a HDB. As for executive condo, you have to purchase with another single also 35 years and above and the combined income cannot exceed $12k per month.

Before you make your decision, I would like to share more with you. Many of us tend to think about what to buy first. But the more important question to ask should be Why am I buying and How to analyse a property. You want to ensure that your money is working hard for you. If you are using your CPF OA for the property purchase, there are also several important points you must know.

Do give me a call for a non-obligatory sharing. I will address most concerns that home buyers have and also share with you on the property outlook especially for HDBs.

Vera Wang
H/P No.: 8777 7907  Read More

Good evening Niky,

Let me share my answer to your queries.

You are not eligible to purchase BTO, new DBSS or new EC because you don't have a family nucleus to purchase with. Kindly refer to the link taken from HDB website.

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatEC?OpenDocument

As a single singaporean, you are eligible to purchase a resale HDB (Mansionette) or resale DBSS under single singaporean scheme only on/ after you turn 35 in 6 months' time. But you can start house hunting but only ink the OTP when you turn 35.

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatSingleScheme?OpenDocument

You are not eligible to take CPF housing grant or HDB loan due to your income. Income ceiling is $5k under single scheme.

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantSingles?OpenDocument

Lastly, downpayment for purchase a resale HDB or private condo will be the same provided you are able to obtain a 80% loan. Not entirely by cash, most of it is by CPF OA funds.

1) 5% cash downpayment
2) 15% CPF downpayment

If you still have any doubts in mind, feel free to contact me as I am just one call/ text away. If you need a draft financial plan or flowcharts of resale HDB/ private condo purchase, I am more than willing to share them with you.

Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.tan@propertyavenue.com.sg
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More