Are you lucky to have found the perfect partner to spend your life with? Now, the next big question is “Do you want to apply BTO together?”. But before you jump the gun with the application for a BTO or resale flat, ensure that both parties are ready to commit to the marriage.
Many young couples ponder over the question due to the average wait of up to 4 years for the completion of BTO. Hence, the more pragmatic approach is to plan ahead and apply for their first matrimonial home before walking down the wedding aisle.
The Fiancé or Fiancée Eligibility Scheme is to help courting couples plan in advance and get the keys to their first home even before getting their marriage certificate.
Here are some special conditions that apply to the scheme:
- You and your fiancé or fiancée must solemnise your marriage with the Registry of Civil Marriages or Registry of Muslim Marriages within 3 months from your completion date.
- However, if your official marriage is held overseas, you are required to present a photocopy of the marriage certificate to HDB within 3 months.
- Parental consent is needed if you or your partner is above 18 but below 21 years old.
- Upon your flat application, if you or your fiancé or fiancée is below 18 years old, you are required to apply for Special Marriage License for confirmation.
- Furthermore, divorcees must submit important documents like Interim Judgment (also known as Decree Nisi) or Order of Court for verification.
Now that you are one step closer to getting your dream house, it is a good chance to snag a bigger amount from the CPF Housing Grants especially when you and your fiancé or fiancée combined income is low.
Possible housing grants that you can qualify for under the Fiancé / Fiancée Scheme:
- Assists engaged/ married couples that are purchasing an HDB resale flat for the first time.
- Grants received can be up to $50,000 for SC/SC and up to $40,000 for SC/SPR depending on the flat type
Enhanced CPF Housing Grant (EHG)
- Eligible first-timer home seekers will be able to enjoy a grant of up to $80,000 which is sufficient to cover them until the age of 95.
- Either you or your spouse must be employed for a year prior to the flat application and still be working at the point of application.
- For first-timer applicants whose spouse/ spouse-to-be had previously received a housing subsidy.
- Applicants must not exceed the monthly income ceiling of $14,000 to be eligible to receive a grant of up to $25,000.
Proximity Housing Grant (PHG)
- PHG is suitable for Singaporean singles or married couples/ families that are looking to buy a resale flat to live within a 4km radius to their parents.
- Applicants can receive a grant of up to $20,000 depending on your family nucleus.
All things considered, you are now ready to apply for your first home and the next thing on your to-do list is finding the right home!
Check out more articles relating to tips and tricks regarding your home on https://blog.truuue.com/
ohmyhome (2019). Buying My Dream Home: Fiancé or Fiancée Scheme Eligibility Conditions. Retrieved 21 November 2019, from https://omh.sg/blog/post/buying-my-dream-home-fiance-or-fiancee-scheme-eligibility-conditions