get an agent

Buy with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Browse New Launch Condos

Find new units for sale

Browse Resale Listings

Connect with sellers through our app

RESOURCES

Calculate Buyer’s Stamp Duty

Find the amount payable when buying

Affordability Calculator

Find the amount payable when buying

How to Buy an HDB

A step-by-step guide to buying HDB

How to Buy a Private Property

A step-by-step guide to buying condo/landed

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Post a Listing for Free

Connect with buyers through our app

RESOURCES

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell my HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

A step-by-step guide to selling condo/landed

HOME E-VALUATION

For tenants

Rent with an Agent

Dedicated experts at your service

RESOURCES

How to Rent an HDB

A step-by-step guide to renting HDB

How to Rent a Private Property

A step-by-step guide to selling condo/landed

For landlords

Lease with an Agent

Dedicated experts at your service

Lease Documentation

Leave the paperwork to us

RESOURCES

How to Lease an HDB

A step-by-step guide to renting HDB

How to Lease a Private Property

A step-by-step guide to selling condo/landed

Do it yourself

ARTICLE CATEGORIES

HDB

All things about public housing

Private Property

All things about private property

Home Improvement

Guides for must-know reno tips

Financing

All about mortgage solutions

Towns

Singapore townships in focus

Client Stories

Success stories from customers

Founders’ Message

From the desks of Rhonda & Race Wong

Buyer Documentation Service from $1,688 + GST

Found your dream home?
Share on facebook
Share on twitter
Share on email
Share on whatsapp

CPF Housing Grant: How to Save When Buying Your First Home

Ohmyhome

Ohmyhome

Share on facebook
Share on email
Share on whatsapp

Just tied the knot and looking for a love nest to build your soon-to-be growing family? You don’t need a crystal ball to know that the next stage would normally involve financial planning. Looking for your first home that is near your parents not only gives you more help and additional care for your little bundle of joy, this also opens you up to another amazing perk – you get to be eligible for housing grants, score!

As of February this year, more than 20,000 households have benefited from the Proximity Housing Grant (PHG) since it was introduced in August 2015. What’s more, PHG is just one of the grants out there that make homeownership more accessible for Singaporeans. But as great as they are, they each come with different conditions for eligible applicants and the amount you can get is dependent on your income, nationality, etc. Let us help you navigate that maze! Here’s our quick take on the housing grants available for you and your spouse to soften the spending on your first abode.

cpf-housing-grant-how-save-when-buying-your-first-home-ohmyhome

What are the grants I am eligible for as a first-time home owner?

Family Grant

Perfect for couples who are dipping their toes in the exciting world of owning their very own property for the first time.

Ideal for: Married or engaged couples buying their first resale HDB flat that’s a 2-room or bigger. We can’t repeat this enough – only for first-timers without any existing property!

Amount you can receive: up to $50,000 for Singapore Citizen (SC) couples and $40,000 for SC and PR couples

Eligibility criteria: You and your spouse need to be Singapore citizens or with one of you being a Singapore Permanent Resident

Income ceiling: $12,000 or $18,000 if you’re planning to occupy the flat with extended family

Required documents: 3 months of payslips just prior to your application or 6 months of income documents prior to your application if you’re self-employed or on other types of employment

Additional Housing Grant (AHG)

To provide an even larger financial assistance to applicants from a wide variety of different employment types, this Grant is meant to aid a variety of lower- and middle-income households who are also Family Grant recipients to comfortably afford a home.

Ideal for: Married or engaged couples buying their first resale HDB flat that’s a 2-room or bigger. We can’t repeat this enough – only for first-timers without any existing property!

Amount you can receive: $5,000 to $40,000

Eligibility criteria: You and your spouse need to be Singapore citizens or with one of you being a Singapore Permanent Resident

Income ceiling: $12,000 or $18,000 if you’re planning to occupy the flat with extended family

Required documents: The income documents needed depends on the nature of your employment

  • Employed – payslips from the past 12 months, CPF Statement of Account for past 2 years and CPF statements that show contributions for the past 12 months’ prior to application
  • Self-employed – most recent Notice of Assessment (NOA) from IRAS and valid license or valid ACRA business profile
  • Commission-based or part-time – payslips / commission statements from the past 12 months or a letter from your employer
  • Odd job-based – current and the previous year’s NOA from IRAS

Proximity Housing Grant (PHG)

Not just for families with kids, PHG is a wide-ranging grant that many Singaporean households are eligible for if they are buying a resale flat to be near their parents or child.

Ideal for: Married or engaged couples buying a resale HDB flat that’s a 2-room or bigger. Take note that this is only applicable for the purchase of a resale flat!

Amount you can receive: up to $30,000 if you’re living with your parent/child and $20,000 to live within 4km of your parent/child

Eligibility criteria: You need to be at least 21 years old and a Singapore citizen or at least one other member in your family unit is an SC or SPR

Income ceiling: $12,000 or $18,000 if you’re planning to occupy the flat with extended family

Not sure if the home you’ve got your eye on is squarely within 4km of your parent’s property? Clear your doubts instantly with HDB’s distance enquiry check!

It’s important to note that once you’re approved for the housing grant, you don’t actually get to see the grant amount in cold hard cash. Instead, the amount is credited to your CPF ordinary account.

Grants ease some of the pressure off when buying your first flat and make it a lot more cost-friendly. As you set off to embark on your maiden journey towards HDB ownership, it’s definitely worth the effort to check out the grants available to you and your family. Bon voyage!

Sources: HDB- PHG, HDB- First-timers, Straits Times


Related posts:


While the Information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the Information. The Information may change without notice and Ohmyhome is not in any way liable for the accuracy of any information printed and stored or in any way interpreted and used by a user.

Subscribe Now

Get a notification every time we upload a new blog post.

Buyer Documentation Service from $1,688 + GST

Found your dream home?

Featured Blogs

Your one-stop guide for must-know HDB tips

get an agent

Buy with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

Do it yourself

Browse New Launch Condos

Find new units for sale

Browse Resale Properties

Download the app and speak directly to sellers

RESOURCES

Affordability Calculator

Calculate required tax for selling

Calculate Buyer’s Stamp Duty

Find the amount payable when buying

How to Buy an HDB

A step-by-step guide to buying HDB

How to Buy a Private Property

A step-by-step guide to buying condo/landed

bUY OVERSEAS

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Post a Listing for Free

Download the app and connect with buyers

RESOURCES

Free Home E-Valuation

Know the value of your property in seconds!

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell an HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

A step-by-step guide to selling condo/landed

get an agent

Rent with an Agent

Dedicated experts at your service

do it yourself

Browse Rental Listings

Download the app and connect with landlords

RESOURCES

How to Rent an HDB

A step-by-step guide to renting HDB

How to Rent a Private Property

A step-by-step guide to renting condo/landed

get an agent

Lease with an Agent

Dedicated experts at your service

Lease Documentation

Leave the paperwork to us

do it yourself

Post a Listing for Free

Download the app and connect with tenants

RESOURCES

How to Lease my HDB

A step-by-step guide to renting out an HDB

How to Lease my Private Property

A step-by-step guide to renting out condo/landed

FEATURED ARTICLES

Condo Renting 101: Where to Look, Sizes and Cost

Looking for a condominium to rent ...

Ohmyhome Raises US$5M in Series A+ Funding

Ohmyhome, the leading Property 
One-Stop Shop Platform

ARTICLE CATEGORIES

HDB

All things about public housing

Private Property

All things about private property

Home Improvement

Guides for must-know reno tips

Financing

All about mortgage solutions

Towns

Singapore townships in focus

Client Stories

Success stories from customers

Founders’ Message

From the desks of Rhonda & Race Wong

Social media

Other