Asked by korny
my dad (mom passed on couple years ago) & i recently sold our hdb, and we are now looking at our options..
1) downgrade to a smaller hdb, and pay for the resale flat in full (lets say 500k). with me getting married later on and applying for bto.
2) apply together with him for an EC (dad a second-timer, me a first), with me as an essential occupier so that we can be eligible for a larger, longer loan. (put downpayment of 500k and loan say 400k over 25-30years)
which would be the better option?
the hdb site says this:
"If you previously own an EC which is bought with the CPF Housing Grant, you will have to pay a resale levy of $55,000."
dad bought his first hdb using CPF housing grant, when i purchase an EC together with him, are we eligible for another grant? if yes, then i guess i will have to pay a resale levy if i were to sell the EC later on and apply for bto right? if no, then i don't need to pay the levy and will still be eligible for the CPF Housing Grant right?
1) downgrade to a smaller hdb, and pay for the resale flat in full (lets say 500k). with me getting married later on and applying for bto.
2) apply together with him for an EC (dad a second-timer, me a first), with me as an essential occupier so that we can be eligible for a larger, longer loan. (put downpayment of 500k and loan say 400k over 25-30years)
which would be the better option?
the hdb site says this:
"If you previously own an EC which is bought with the CPF Housing Grant, you will have to pay a resale levy of $55,000."
dad bought his first hdb using CPF housing grant, when i purchase an EC together with him, are we eligible for another grant? if yes, then i guess i will have to pay a resale levy if i were to sell the EC later on and apply for bto right? if no, then i don't need to pay the levy and will still be eligible for the CPF Housing Grant right?
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