Hi,
To start with your concern, you are eligible for Public Scheme. You as the owner and your mother as occupier only.
There ar 2 options available:
(1) Buy BTO/SBF/ROF, as buying direct from HDB need minimum cash, most of the payment can be done with CPF.
I hereby assumed that you have started work since left school, your CPF OA should be able to assist you to own a home.
Detail has to check with HDB staff with all financial info.
(2) Buy resale HDB, although most of it also can be pay by CPF, there are still minimum cash of up to $10k, +/- 10% only.
Grant:
Grant amount is also limited to single grant amount ($25k for 2~4-rm, $20k for 5-rm and bigger) only. Even though you are applying with public scheme
Do note that this grant only applicable to resale flat.
Grant available for new flats are: AHG & SHG, both can be up to $20k each dependent on your current salary.
Suggestion:
Option (1) takes time to solve your immediate problem. It might be up to at least 2 yrs if you are unable to get ready flats.
Option (2) takes 8~12 weeks to solve your immediate problem, if you able to find the house you want.
Dependent on the yield receive from overseas assert, to determine whether it is still worth keeping it.
If the return is too low, the obvious is to dispose it off rather than to keeping it. Especially, the lease is reducing yr on yr, the property might be too old to claim back good ROI.
Do note once your father is listed as an occupier, he will has to dispose off the overseas property within 6 months upon key collection.
Hope the above answer to your main concerns, but if there are more queries, 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
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