Is it worth it to take the govt grants and pay back compounded interests on these grants when selling away the flat (be it bto or resale) ? I don't have a background in investing so likely no passive income via investing so I doubt I can make money from the stock market.
HDB grants
- Thread starter babyrobo
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Compounded interests payable so am wondering what is the breakeven point
Due to affordability and job is unstable at the moment, am thinking of getting a smaller place first. Might or might not move in the near future. Bto is only in non-matured estate plus have to topup $15K extra in purchase price for singles. If buying resales, have to pay a premium for reno and location. Am quite unsure which I shld go for
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dont have to worry about that. you need a place to stay. as long as you can afford the monthly installment, the home will be yours one day.
Due to affordability and job is unstable at the moment, am thinking of getting a smaller place first. Might or might not move in the near future. Bto is only in non-matured estate plus $15K extra for singles. If buying resales, have to pay a premium for reno and location. Am quite unsure which I shld go for
it does not matter what you get, you must get the govt grants.
you have stated main advantages for both resale and bto. only you can decide which one you is best for you.
antonpoh
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Depend on how much you can loan. First home usually won't be your last so better don't take any grants.
If can afford and have to choose between BTO in non mature estate or resale in mature estate, I would choose hdb in mature estate. But if you work near non mature estate, then go buy a EC near it also can.
Btw, investing don't need background.
Compounded interest that you pay back can be use for next flat so it's still your money.
antonpoh
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If you take the 15k grant, it don't come back to you when you sell. When you sell ur hdb, you need to pay back 30k to hdb as resale levy. It doesn't go to your cpf.
http://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat/additional-information
computers70
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True. All these are done as the gov do not want people to buy and sell their HDB
If you take half the grant (for singles) you also pay half the resale levy.
Resale levy is only applicable under certain conditions e.g. if you want to buy another BTO.
no need pay resale levy if you buy condo or resale for you second home. only need to pay if you buy bto again.
read carefully.
garmen is ok if you buy or sell, they just do not want to subsidize you multiple times.
he concerned about paying back the 15k when selling the home.
I am not eligible for grant as I don't have continuous 12mths employment. Was retrenched.
The 15K is extra topup money that singles need to pay when purchasing a bto
Resale levy is a penalty if you buy another BTO not for you to pay when you sell your BTO.
Hi can anyone pls answer my burning question.
My bro grant is in the midst of approval.
If say I get the grant, it goes into my cpf account. Does it earn interest in the 4 years that my house is being built?
Also my grant has been taking very long to be approved. 5 months soon. Anybody faces the same issue?
My bro grant is in the midst of approval.
If say I get the grant, it goes into my cpf account. Does it earn interest in the 4 years that my house is being built?
Also my grant has been taking very long to be approved. 5 months soon. Anybody faces the same issue?
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