So… 
 You want to find out more about the HDB Resale flat buying process. 
 And how to buy your very own flat. 
 Source: SpongeBob SquarePants | Giphy 
 Welcome to  adulthood , my friend. 
 And as scary as buying such a big-ticket item might sound… 
 It won’t be, as long as you know how it all goes down. 
 When it comes to property, I  gotchu bruv . 
 
 Your Personal Guide to Purchasing an HDB Resale Flat 
 
 
 
 
 
 
 Need more help or have a specific property-related question? 
 You can always ask the friendly  Seedly Community  for advice! 
 Paiseh  or shy? 
 You can even  ask anonymously  too… #justsaying 
 
 HDB Resale vs HDB BTO: Which Should You Choose? 
 Since you’re reading this, I’m gonna assume that you’re not considering a  BTO flat  anymore. 
 Location 
 Firstly, one of the biggest pluses of going with an HDB Resale Flat, is that you get to  choose the location  of your flat. 
 Since you’re not limited by wherever the next BTO project is being launched, you can choose from all over the island. 
 Accessibility 
 Standard BTO projects have a wait time of about 3 to 5 years before you get your keys. 
 An HDB Resale Flat is an HDB flat that is currently owned by someone else — which means that it’s  technically  available almost immediately. 
 Depending on how fast the owner can move out and hand over the keys, of course. 
 Oh, and in order to buy it from them, the  Minimum Occupation Period (MOP)  of the flat has to be met before the current owner can sell it to you. 
 The MOP is typically  at least 5 years , as long as it’s not in a  Prime Location . 
 So if you pick the right flat and meet an owner who’s ready to vacate his or her own asap, you’ll most likely  get your flat faster  than your friends who BTO-ed. 
 Lease 
 Unlike a brand new HDB BTO which comes with a 99-year lease, the lease on an HDB Resale Flat will  depend on how old it is . 
 The older an HDB flat, the fewer years will be left on the lease. 
 This is important to take note of because it affects the  value  of the property. 
 The  amount of HDB grants or loans  you can get might also be  pro-rated  as well. 
 How Much Does an HDB Resale Flat Cost? 
 Well… that depends on a variety of factors. 
 Is it in a non-mature or mature estate? Units in mature estates usually cost more. 
 What direction does the unit face? Because some people don’t want the sun in their eyes when they step out the door,  feng shui  and etc. 
 Which level is the unit on? Units on higher floors usually cost more. 
 What kind of amenities are nearby? 
 For example, is the HDB Resale Flat you’re looking at  within 1km of a popular primary school ? 
 
 Yep. 
 Some parents or parents-to-be will want to  live near a popular primary school  to make sure that their kids have a higher chance of getting into the school of their choice. 
 And many are  willing to pay a premium  for that kind of accessibility. 
 The same applies to whether the flat is near an MRT station or near major shopping malls and facilities like nursing homes and hospitals. 
 On top of all of this, you’ll also have to think about the extent of the renovations which your Resale Flat will need. 
 An older flat will  probably need more work  so you’ll need to factor that into your  renovation costs  before moving in. 
 Things To Consider Before Beginning Your HDB Resale Flat Purchase 
 Before you even think about whether you would like to live in a mature or non-mature estate. 
 Or how high you would like your flat to be. 
 You’ll first want to  check your eligibility  to buy an HDB Resale Flat by registering your  Intent to Buy  through the  HDB Resale Portal . 
 FYI: there is no fee for registering, and you’ll get an instant assessment on your eligibility to buy a flat, the grants you can get, as well as whether you qualify for an HDB housing loan 
 Eligibility Criteria for HDB Resale Flat 
 To be eligible for an HDB Resale flat: 
 
 At least 1 Singapore Citizen or 2 Singapore Permanent Residents must be listed in the flat application 
 The Resale Flat applied must be within the Ethnic Integration Policy and Singapore Permanent Resident quota 
 Not own any residential properties or any houses/buildings/land whether locally or overseas, or have disposed of them in 6 months before the Resale Flat application 
 
 Your  age  will also determine what type of HDB flat you can buy. 
 If you’re buying with an approved family nucleus, you’ll have to be at least 21 years and above. 
 Buying a flat as a single? 
 You’ll have to be at least  35 years and above . 
 
 On top of all of these considerations, you’ll have to buy a Resale Flat under a specific HDB scheme. 
 Eligibility Criteria for HDB Resale Schemes 
 The following eligibility criteria apply to all schemes: 
 
 Income ceiling: there are NO income ceilings but this will matter when it comes to CPF Housing Grants and HDB housing loans 
 Ownership of other properties (HDB or Private, Local or Overseas): if you or anyone else in your resale flat application owns any kind of property (whether HDB or private, local or overseas), you will need to dispose of it before or within 6 months of your resale flat purchase 
 
 Here’s a look at the various schemes you can apply under as well as the types of CPF Housing Grant which you might be able to qualify for: 
 
 
 
 HDB Resale Flat Eligibility Schemes If You're... CPF Housing Grants You Might Be Eligible For 
 
 
 
 
 Fiancé/Fiancée Scheme Buying an HDB Resale flat with your fiancé or fiancée Enhanced CPF Housing Grant (EHG) 
 
Family Grant (FG) 
 
Half-Housing Grant 
 
Proximity Housing Grant (PHG) 
 
 
 Public Scheme Buying an HDB Resale flat with your family for eg. with wife and children, parents and siblings, or children Enhanced CPF Housing Grant (EHG) 
 
EHG (Singles) 
 
Family Grant (FG) 
 
Half-Housing Grant 
 
Proximity Housing Grant (PHG) 
 
Singles Grant 
 
 
 Conversion Scheme Buying adjoining flats that are 3-room or smaller and convert them into 1 unit 
 
 
 Single Singapore Citizen Scheme Buying an HDB Resale flat as a single; at least 35 years if unmarried or divorced, or 21 years if widowed or orphaned EHG (Singles) 
 
Proximity Housing Grant (PHG) 
 
Singles Grant 
 
Top-Up Grant 
(at later stage) 
 
 
 Non-Citizen Spouse Scheme Buying an HDB Resale flat with a spouse who is not an SC or SPR 
 
 
 Non-Citizen Family Scheme A single Singapore Citizen and your family members (eg parents( are not SCs or SPRs 
 
 
 Joint Singles Scheme 2 to 4 singles jointly buying an HDB Resale Flat Enhanced CPF Housing Grant (EHG) 
 
Proximity Housing Grant (PHG) 
 
Singles Grant 
 
 
 Orphans Scheme Buying an HDB Resale flat with siblings who are orphans and single (unmarried, divorced, or widowed) Enhanced CPF Housing Grant (EHG) 
 
Singles Grant 
 
 
 

 What Type of HDB Flat Can I REALLY Afford? 
 Next, you’ll also need to  consider your finances  and figure out  what type of HDB flat can you afford ? 
 
 I mean, you wouldn’t want to overstretch yourself and have problems servicing the mortgage when you can’t even put food on the table, right? 
 How To Choose The Perfect HDB Resale Flat to Buy? 
 Once you have all of the above sorted, here comes the fun (or tiring, for some) part. 
 Figuring out  how to choose the perfect HDB Resale flat ! 
 
 FYI: I’ve included a checklist to follow as well as a list of things (and people) that you should bring along during property viewing in the article 
 How Much Is an HDB Flat Really Worth? 
 Figuring out how much a flat is worth  can be really tricky. 
 Whether you’re a buyer or a seller, you’ll need to settle on a selling price. 
 And one of your best guides is to use the HDB Resale Median Price as a gauge. 
 
 Once that’s done, you’ll need to get an official HDB valuation in order to determine how much Cash-Over-Valuation (COV) will you get (if you’re a seller). 
 Or how much COV you’ll need to pay (if you’re a buyer). 
 How To Buy An HDB Resale Flat 
 The entire process is really straightforward and can all be done via the  HDB Resale Portal . 
 Yep, you don’t even need to involve a property agent in the process if you don’t want to. 
 Just follow this  step-by-step guide  to find out how you can handle the deal yourself! 
 
 It’ll take a bit more work (and time) but you can save quite a bit on commission fees if you cut out the middleman! 
 Source: SpongeBob SquarePants | Giphy 
 That’s more money for reno or furniture! 
 What Is the Maximum HDB Grant That I Can Get? 
 There’s a myth amongst first-time property buyers that an HDB Resale flat is usually  more expensive  than an HDB BTO flat. 
 
 Well… it might not always be true… 
 That’s because there are various  HDB housing grants  like the  Enhanced Housing Grant  (EHG) that are meant to help keep HDB Resale flats affordable. 
 
 FYI: if you’re a first-timer applying for an HDB Resale flat you can get  up to $160,000  in HDB grants (depending on your eligibility). 
 That’s way more than what a first-timer would get when buying an HDB BTO flat. 
 How Do I Pay For My HDB Resale Flat? 
 Found an HDB Resale flat that you really like and are ready to commit? 
 Bank Loan Vs HDB Loan: Which Is Better? 
 Besides the interest rates, there are plenty of other things to consider when deciding whether you want to finance your HDB flat with  a bank loan or an HDB loan . 
 
 If you’re going with an HDB loan, you’ll need to get an  HDB Loan Eligibility (HLE) Letter  as well. 
 
 And if you decide to go with a bank loan, you’ll want to check with the banks for the latest fixed and floating rate for housing and mortgage loans. 
 Now that you understand the entire process and know what to look out for. 
 Good luck with your house-hunting! 
 Source: SpongeBob SquarePants | Giphy 

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