Hi,
1) The grants received for your resale flat are subsidize from the government.
2) This is a type of financial assistance to encourage 1st timer couples to select resale flats instead of only waiting for BTO.
3) There are many reasons behind this subsidiary:
(a) The HDB worries about building too many BTO and crashes the whole HDB market.
(b) The cost of building many HDB flats at one go could inflate the materials cost.
4) Thus you won't need to pay back even after selling your flat. Unless the information provided is untrue that causes your eligibility for the grant to be invalid.
5) The grant provided will form part of your CPF.
6) But if you apply for BTO or new EC in the future, you will be subject to a resale levy. Thus you have to consider whether you really need this grant for the purchase.
7) For example if you are only eligible for a grant of $25k but your resale levy is $45k. You will have to think twice about whether this is worth applying.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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