A Step-by-Step Guide on buying an HDB Resale Flat in Singapore

Here's is a step-by-step outline on the process of purchasing an HDB resale flat in Singapore.

More detailed information can be found in the links embedded in the presentation.

1. A Complete Guide to Buying an
HDB Resale Flat in Singapore
Your step-by-step guide to a smooth home-buying journey.

2. Why Choose a Resale
Flat?
•• Immediate availability (no 3-4 year wait)
•• Flexibility in location –close to MRTs, schools, parents
•• Significant housing grants available
•• Alternatives: ECs or private condos (higher cost)

3. Key Takeaways
•• Check eligibility under HDB
schemes
•• Plan your budget and financing
•• Shortlist suitable flats
•• Choose the right loan (HDB or
bank)
•• Follow the 11-step resale
process

4. Step 1 –
Check
Eligibility
• Schemes: Public, Single
Citizen, Joint Singles
• Citizenship: 1
Singaporean/SPR (2 SPRs =
3 years residency)
• Age: 21+ (married), 35+
(single)
• MOP: Sellers must fulfil
5-year MOP

5. Step 2 –
Understand
Restrictions
• 15-Month Wait-Out: For
private sellers under 55
• EIP: Maintains ethnic
balance
• SPR Quota: Limits non-
Malaysian SPR households
• No other property
ownership

6. Step 3 –
Budget
&
Housing
Grants
•Family Grant: Up to $80,000
•Enhanced Housing Grant: Up to
$80,000
•Proximity Grant: Up to $30,000
•Example: 5-room flat - $7,000
income + near parents = $95,000
total grants

7. Step 4 –
Decide
Where to
Buy
• Mature Estates: Central,
convenient
• Non-Mature Estates:
Affordable, newer
• PLH Flats: 10-year MOP,
resale restrictions
• 2024 onward: Standard,
Plus, Prime classification

8. Step 5 –
Choose
Financing
• HDB Loan: Up to
80% financing;
balance via
CPF/cash
• Bank Loan: Up
to 75% financing;
5% cash
downpayment

9. Step 6 –
Apply for
HFE
Letter
•Replaces old HLE (from
May 2023)
•States eligibility, grants,
and max loan
•Apply via My Flat
Dashboard using
Singpass/Myinfo

10. Step 7 –
The 11-Step
HDB Resale
Process
•1. Apply for HFE Letter
•2. Assess finances
•3. Secure Option to Purchase (OTP)
•4. Confirm financing
•5. Request for Value
•6. Convert IPA to LO
•7. Submit resale application
•8. Acknowledge & pay fees
•9. HDB review
•10. Final approval
•11. Completion & collect keys

11. Key
Tips
for
Buyers
• Confirm grant eligibility
before committing
• Compare interest rates
• Prepare documents early
• Seek agent guidance if
needed

12. Final
Thoughts
S G Home
I nv estment
Buying a resale HDB
flat is manageable
with proper
planning.
Know your eligibility,
plan finances, and
follow HDB’s process.
Visit SG Home
Investment for more
insights.