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Hi there,

congrats on your upcoming marriage.

“If two parties each own an HDB flat prior to their marriage, they are required to relinquish ownership of one of the flats upon marriage," said the HDB. This is in line with the public housing policy of allowing a family to own only one HDB flat at any one time. “

below are my points of view, no right or wrong, just for your reference only.

When you buy HDB flat, you need to fulfil 5 years MOP (Minimum Occupation Period). If given approval by HDB to sell before MOP, you might still subject to Seller Stamp Duty when you sell within 3 years after purchase of the flat. Please refer to IRAS website, it’s quite hefty.

Since you both are getting married, you can buy HDB flat under fiancé fiancee scheme and apply for Family Grant which single not able to enjoy. With combine income also help you unlock higher loan quantum, better eligibility to apply maximum loan, especially loan subject to 30% MSR and 60% TDSR.

Let’s say within both of your affordability and eligibility, you both have another options to buy EC.

After MOP, when you buy your next home as matrimonial home, you sell your current matrimonial house within stipulated period, you will get to enjoy ABSD Remission.

Feel free to contact me via whatsapp or call.

Mei Foong
(CEA Reg No: R063413E) Read More

Hi

The best person to answer your need is yourself. Having said, talking to someone will help to open up your thought.

It would seem pre-mature to make recommendation without an understanding of what you want.

You may text 9620 0827  for a casual chat.

Regards

Gavin Read More

Hi there,

I feel the immediate/short-term main differences would be 1)the amount of loan you guys would be able to secure from HDB/banks and 2)the housing grants which will be available to you guys.

Purchasing under the fiance/fiancee scheme will allow HDB/banks to assess on the combined income of both spouses as compared to only just 1 income when purchased under the singles scheme, which will greatly reduce the amount required in CPF/cash to finance the flat

Also, the grant amount for purchasing as a couple would definitely be much more as compared to purchasing it as a single(based on the assumption that both fulfils the eligibility for the grants)

Not to forget, there are also long-term considerations. An example could be when you decide to own a second property, how will the different arrangement of ownership affects the amount of stamp duty(taxes) payable and the leverage you would be able to get from the financial instituitions.

Do drop me message, I will see if i can contribute some pointers which you guys can take into consideration before taking the next move.

Hope this helps to clarify some of the questions you had and I'll look forward to hearing from you soon!

CK Seow
Senior Marketing Director
ERA Scholarship(2016) Awardee
NUS Bsc Real Estate(Honours)
HP: 92226403 
Email: ckseow.era@gmail.com Read More

Hi,

1) Advantage to buy under couple:
(a) get higher loan quantum,
(b) split the mortgage load,
(c) paid-up earlier => lower interest spent for earlier redemption => lower cost of owning own home.

2) Disadvantage to buy under couple:
(a) Lower loan quantum
(b) Unable to fully utilize other party CPF OA
(c) Spend more on interest
(d) Lost of opportunity cost if both parties earning high income.
(e) Due to earlier redemption of mortgage, emotional feel relax at a younger age and spend more on personal enjoyment.
(f) Not able to plan for retirement.

Personal point of view is it is common if a person without pressure to press for higher-income will tend to relax and move on without target rather will focus more on personal enjoyment.

3) If buy under a single scheme, then proceed to register marriage later. The occupier will become a normal occupier rather than an essential occupier.
4) If married first, then proceed to buy. The occupier will automatically become an essential occupier. Thus will have to observe MOP.

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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Hi,

In my opinion, the Scheme you choose to purchase a resale HDB now is largely dependent on your profile, income level and plans in the future.

If you're monthly combined income is more than $14k, then I will suggest one of you purchase under Single Scheme. And the other party could explore the option of purchasing a private property before marriage.

If your combined income is less than $14k, you may wish to consider purchasing under Fiance/Fiancee Scheme. Of course, you will have to commit to marriage in the near term should you choose this Scheme.

Do take note, purchasing under Fiance/Fiancee Scheme need not necessarily mean that you are joint-owners of the flat. You can still purchase under Sole Lessee while enjoying the various Housing Grants if you're eligible! This also means that the other party will be able to purchase a private condo in the future without having to incur ABSD!

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More