Dear and I received a letter dated 09/04/2010 to purchase the flat that we selected. The AHG given to us were good enough for the 5% downpayment. We selected our flat on 3 May 2010. : )
Info
1) First timer are eligible for staggered downpayment scheme, which means you need to pay 5% when signing the agreement of lease and 5% at the time when you collect the keys.
2) The price reflected in HDB excludes lease stamp fees and conveyancing fee. Thus, young couples must have slightly more than 5% in their CPF when signing the lease or else you will have to pay up with cash.
3) All young couples like me thought that there will be grant for first timer or stay near parents. This is only 50% true if you are buying re-sale flat. BTO flats as claim by HDB are heavily subsidized, thus are not eligible for any grant except AHG. Thus, my recommendations are apply for flat early, especially for fresh graduates and get married early, have kids to boost Singapore falling population.
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