{"id":14368,"date":"2018-04-03T10:21:12","date_gmt":"2018-04-03T02:21:12","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=14368"},"modified":"2022-07-01T04:50:10","modified_gmt":"2022-06-30T20:50:10","slug":"young-couples-hdb-flat-more-quickly","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/young-couples-hdb-flat-more-quickly\/","title":{"rendered":"Young couples: you can now get your first HDB flat more quickly!"},"content":{"rendered":"
<\/div>

Let\u2019s say you and your significant other are thinking of applying for an HDB flat. If you\u2019re fresh out of school, you\u2019ll need to delay your application while you build up your finances. (Don\u2019t forget that you can only qualify for a grant if one person has fulfilled a minimum period of 12 months of continuous employment!) <\/span><\/p>\n

After one or two years, you might decide that you\u2019re ready\u2026 but then you\u2019ll have to wait for another four years for your flat to be built. What a hassle, right?<\/span><\/p>\n

New HDB scheme allows couples to defer income assessments <\/b><\/h3>\n

Here’s some good news: come May 2018, this will no longer be the case. According to a new ruling, HDB is now allowing young couples (aged 21 and above) to apply for grants to buy an HDB flat earlier. <\/span><\/p>\n

Under this scheme, which applies to students, NSFs or recent graduates, couples can apply for their HDB flats first, and defer the assessment of their income for housing grants and loans until right before the key collection date. According to estimations, this would shave off \u201cat least a year\u201d from these young couples\u2019 home-buying journey.<\/span><\/p>\n

\"young<\/p>\n

Other perks for young couples<\/b><\/h3>\n

On top of being able to defer their income assessment, young couples might also be eligible to enjoy additional grants (up to $80,000 on top of what is currently being offered) come May 2018. That’s not all: according to National Development Minister Lawrence Wong, HDB will double the number of HDB flats with shorter waiting times in 2019; approximately 2,000 of these flats with a waiting time of two to three years will be launched next year.<\/span><\/p>\n

Want to apply for a HDB flat with your boyfriend or girlfriend?<\/b><\/h3>\n

Before you do the deed, be sure to ask yourselves the following questions:<\/span><\/p>\n