Are you and your partner ready to settle into a place of your own but don’t quite understand the types of grants you can receive for a HDB flat? Don’t worry, you’re not alone! Finding and understanding different HDB grants available takes time and research. Many in this same position realize the HDB website can be hard to navigate, especially if you’re trying to skim and decide the best options.
Let us guide you through what housing grants are, which are available, and some actionable advice to determine which is best for you.
What are HDB housing grants?
CPF (otherwise known as HDB) housing grants are often given to both lower and middle-income families to make housing available and affordable. These grants are fully credited to an individual’s CPF Ordinary Account after they book their flat and are used to offset the price of the flat. Keep in mind that these grants will be applied only to the flat and you will not receive the amounts as cash or cheque.
While there are several options, there are three main housing grants which are determined by income, number of residents, and size of the flat.
Enhanced Housing Grant (EHG)
This grant is for Singaporean couples and families who are earning $9,000 or less per month with at least one applicant working for twelve months before they apply.
Quick FAQs about EHG
- The grant amount is between $5,000-$80,000 and is inversely proportional to your income. Meaning the less money you earn, the more of the grant you receive.
- If you’re single, ages thirty-five and older are eligible for EHG if they’re applying for a resale HDB flat. The income per month will be halved (earning $4,500) and you’ll receive up to $40,000.
- New and resale flats are eligible for this grant.
Family Grant (FG)
A Family Grant is for first-time couples or families purchasing a resale flat. You have the choice of using the FG in tandem with the EHG for affordability. This grant applies to any resale flat with two rooms or more.
Quick FAQs about FG
- For couples or families who are all Singaporean citizens, this grant is determined by the size of the flat. You’ll receive either $50,000 for a 2-4 room flat or $40,000 for 5 or more rooms.
- The combined income for couples applying for FG is $14,000, but if you’re applying with family members, the household income should be $21,000.
- There is a version for singles known as the Singles Grant where the grant amounts are halved.
Proximity Housing Grant (PHG)
Staying near your family is a big incentive for saving money. Not only can they look after children, but depending on how close they are, you can qualify for the PHG. They calculate this grant based on the distance between your parents’ place or planning to co-live. This grant is available as long as you live within 4km of your parents.
Quick FAQs about PHG
- You can use the PHG with the EHG and the FG.
- You need to be living within 4km of your parents and it also applies to couples who want to move closer to their adult married children.
- Unlike the EHG and the FG, there are no income qualifications and no need to be a first-time applicant.
- The grant amount is $20,000 within 4km of parents/married children or you could receive $30,000 if you apply to co-live with extended family members.
- As with both the EHG and FG, singles can apply and receive half the grant amount.
Summary
Feeling like you have a decent grasp on which HDB housing grants are available for you? Great! If you’re wanting more information about your eligibility, applications, and which flats are available, visit the HDB website and check your eligibility.
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Resources used
https://blog.seedly.sg/hdb-cpf-grants-bto-vs-resale-flats/
https://www.singsaver.com.sg/blog/hdb-grants-complete-guide
https://blog.moneysmart.sg/property/hdb-cpf-housing-grant-guide/