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Must-know for first time HDB Buyer! (Laymeh guide)

13 June 2017

Okay! First time HDB buyers, young couples I presume? Chances you are reading this post is probably you have not propose to your wife-to-be or your husband-to-be has not proposed to you. Not to worry, you are not alone. It takes more than 3 years or sometimes even 5 years, before you can collect your keys for the BTO (build-to-order flats). So, we fully understand the planning for a roof above your head, definitely takes much longer than a precious stone protruding out from your/her fourth finger.

In this particular post, we will be sharing with you just the top level view. But before you continue, it is important to know that there is an income cap of $12,000 for the purchase of resale and BTO flats ($14,000 for EC & $18,000 for Multi-Gen Flats). In other words, if you and your spouse combined gross income per month is more than $12,000, don’t bother reading on. You cannot buy any of subsidized flat listed in this post. Read here instead (You still may have the option to buy an EC).

If your combined income is less than $12,000, congratulations! Below are a few important things you need to know before you start Googling or reading up forums. Trust us, you will definitely see them again and again throughout your journey of purchasing a flat. 

  • entitlement
  • Types
  • grants
  • Loans

Loans (HDB & Bank Loans)

Obviously, you will not be able to pay the entire sum at a go for your house. Thus, you will need a loan. The question to ask yourself, HDB loan or Bank loan? And what is the difference?

Below are the income ceiling based on types of flat. 

BTOs, Resale & DBSS: $12,000
EC (Executive Condominium): $14,000
Multi-gen HDB flats (flats with 2 master bedroom): $18,000

It is wise to purchase your HDB flat early, before your income hits the ceiling. If your combined income really hits more than $14,000, bo bian (no choice), you have to purchase a private property. It can be a private condominium, terrace house or even a bungalow. 

For more information on HDB eligibility and income ceiling cap for different flat type, please go to the HDB official website here:

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