Things to look out for as a first-time homeowner of a BTO flat.

Here are some important considerations for a first-time homeowner of a BTO flat:

• Check eligibility criteria:
– You must be at least 21 years old.
– You cannot own or have sold any private residential property in the last 30 months.
– You can only have enjoyed up to 1 housing subsidy previously.

• Ensure your household income is within the relevant ceiling:
– Up to S$14,000 (or S$21,000 if purchasing with extended or multi-generation family) for 4-room flats or larger.
– Up to S$7,000 (or S$14,000, depending on the project) for 3-room flats.
– Up to S$7,000 or S$14,000 for 2-room Flexi flats, depending on lease length.

• Explore grants for first-time applicants:
– Enhanced CPF Housing Grant (EHG) for couples, up to S$120,000 if both applicants are first-timers.
– Household income must be within S$9,000 (assessed over 12 months), with at least one applicant working at the time of HFE letter application.

• Confirm your marital or family status:
– Fiance/Fiancee scheme requires submission of marriage certificate within 3 months after collecting your flat keys.
– Married couples/parents with children must meet the requirement of having at least one applicant who is a Singapore Citizen.

• Look into priority schemes:
– First-timer families may get more ballot chances and higher flat supply allocation.
– Parenthood Priority Scheme (PPS) is available for first-timer married couples expecting or with children aged 16 and below.

• Apply for the HDB Flat Eligibility (HFE) letter:
– This determines your grant amount and overall eligibility.
– Your average household income is assessed up to two months before the HFE application.

By confirming these details early on, you can streamline your BTO application and ensure you meet all necessary criteria.