HomeYoung Adults5 types of housing grant available for couples

5 types of housing grant available for couples

Header picture source: Pexel

This article was not reviewed by the Monetary Authority of Singapore (MAS) or any other relevant authorities.

Buying a house in Singapore is certainly not an easy feat. Besides going through its lengthy (albeit necessary) application process, you would also need to ensure you and your partner are financially ready to purchase it! 

As we all know, houses in Singapore are not cheap and we would certainly want to ensure we apply as many housing grants as possible so as to lighten our financial load! 

Calculator GIFs - Get the best GIF on GIPHY
Source: GIPHY

As this would also require an extra bit of work in reading up and applying, this article is meant to give you an overview of the 5 main housing grants in Singapore that you could explore! 

1. Enhanced CPF Housing Grant 

Nickelodeon Reaction GIF by SpongeBob SquarePants
Source: GIPHY

Who is Eligible? 

  • First-timer applicants

Which Flat Type? 

  • Built-To-Order (BTO), Resale, and SBF (Sale of Balance) flats

Grant Amount?

  • $5,000 to $80,000 depending on your average monthly household income. 

Income Ceiling

  • You and your partner’s gross monthly household income (for the past 12 working months) cannot exceed $9,000

2. Step-Up CPF Housing Grant

Another One Mtv Emas GIF by 2020 MTV EMA
Source: GIPHY

Who is Eligible? 

  • Second-timer applicants 

Which Flat Type? 

  • BTO flats that are 2-room Flexi or 3-room in non-mature estates

Grant Amount?

  • $15,000 

Income Ceiling

  • You and your partner’s gross monthly household income (for the past 12 working months) cannot exceed $7,000

3. Family Grant 

family GIF
Source: GIPHY

Who is Eligible? 

  • First-timer applicants who are married or engaged

Which Flat Type? 

  • Resale flats

Grant Amount?

CitizenshipBuying 2- to 4-room Resale FlatBuying 5-room or Bigger Resale Flat 
Singaporean-Singaporean Couple$50,000$40,000
Singaporean-Singapore Permanent Resident Couple$40,000$30,000

Income Ceiling

  • You and your partner’s gross monthly household income (for the past 12 working months) cannot exceed $14,000.

4. Proximity Housing Grant 

Source: GIPHY

Who is Eligible? 

  • Married or engaged couples who are buying Resale flats and want to live with or within 4km of their parents or child. 

Which Flat Type? 

  • Resale flats (2-room and bigger) 

Grant Amount?

Living with parents/ childLiving within 4km of their parents or child 
Couple$30,000$20,000

Income Ceiling

  • No income ceiling.

5. Half-Housing Grant

Couple Dancing GIF by RETROFUNK
Source: GIPHY

Who is Eligible? 

  • First-timer applicant with a second-timer applicant partner (married or engaged)

Which Flat Type? 

  • Resale Flat (2-room and bigger)

Grant Amount?

Buying 2- to 4-room Resale FlatBuying 5-room or Bigger Resale Flat 
Couple$25,000$20,000

Income Ceiling

  • You and your partner’s gross monthly household income (for the past 12 working months) cannot exceed $14,000.

Summary…

As you can see, these grants are pretty great right? But…  of course, never enough! You would most definitely need your savings as well. Hence, click here if you are interested in engaging a financial adviser to help you work out your finances so as to purchase your dream home!

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Get investment options compared

Most Popular

Recent Comments