Housing FAQs

Flats on a monthly income of $4k

The "right" flat may be one that suits one's personal budget and needs, instead of the biggest flat or one in the most central locations.
The "right" flat may be one that suits one's personal budget and needs, instead of the biggest flat or one in the most central locations.PHOTO: HDB

Brought to you by MND Singapore. This is the final of a three-part series in which MND answers questions about housing.

Q What flat can I afford with a combined monthly household income of $4,000?

A The Housing Board offers a range of Build-To-Order (BTO) flats, from two-room flexi to three-generation flats, in various towns across Singapore.

These provide many options to buyers, and help them find a home that meets their budget and needs.

For a couple earning a combined monthly household income of $4,000, we have illustrated three possible housing budgets and monthly instalment options.

 
 

The budgets include housing grants that eligible first-timer households can enjoy, comprising the Additional CPF Housing Grant (AHG) for those earning up to $5,000, and the Special CPF Housing Grant (SHG) for those buying a four-room or smaller flat in a non-mature estate (see table).

Buying a home is a long-term financial commitment.

Making a prudent choice now, where you pay less in monthly instalments and are able to save more, will allow you to have peace of mind.

Keeping an open mind on the flat size and location will generally mean more choices and affordable options.

For example, you can receive up to $40,000 more in grants when you buy a smaller flat or one in a non-mature estate.

A version of this article appeared in the print edition of The Straits Times on November 05, 2016, with the headline 'Flats on a monthly income of $4k'. Print Edition | Subscribe