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My wife and i have 20k combined cpf. HLE roughly 370k. We r 1st timer n will be taking Hdb loan.. What is the minimum cash we need to buy a 5 room flat in woodlands area? N what is the difft between 5 roo n 4 room flat? Bcos i c the new 5 room flat is smaller than the old 4 room flat..
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1 Answer

Mike Lim
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Afternoon,

Let me assume that you are looking at 5 room flat around Woodlands MRT, the estimated valuation is around $500k and COV asking of around $35k. Since both of you are first timer SC applicant, you will be eligible for $30k grant. As I do not know your income status, I would assume that you will be eligible for $15k Additional Housing Grant (combined income of less than $4k), you will need around $118k cash. However, there are cheaper 5 room flat within Woodlands area, which might fit into your budget.
Older 5 room flat have an area of 122 to 127sqm while BTO have an area of around 108 to 112sqm which is nearly the size of older 4A flat.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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