House buying experience (II)

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Any useful information for HDB eligible scheme and market price?

Of course, HDB website is the most useful information source, that really exceed my expectation.

First, Eligibility Conditions to Buy a flat from HDB, you can buy before marriage, but there is time limit to provide the certificate after you buy the house, 3~12 months, depends on appeal result. The new flats are only for citizens with house gross income less than 8K. This criterion is very crucial, because it's the same ceiling for grants, HDB loans. If more than 8K, the only option is to buy resell with pure bank loan.

Second, if you are eligible to buy the new flats, you can wait for new projects, normally may need 2~4 years to complete a new construction project. If you want to buy resell house, normally go to find a agent. But for price, there is valuable information on HDB website. You can go to check the market trend, the quarterly index, median purchase price by town and room type, and most wonderful, the individual transaction. With the individual transaction history, you can compare even certain block.

So, if you are preparing to buy a resell HDB flat, check the statistics frequently.

Another wonderful post: The Almost Complete Goondu’s Guide to Buying a HDB Flat in Singapore


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