The purchase of your first HDB flat is an important life decision. Not only does it determine where your family would be living in, it may also decide when you are able to retire.
Using the price found in the most recent HDB November launch, we see that at Punngol, the cheapest 4-room unit (93 sqm) is selling for $277,000. Within the same estate of Punngol, the most expensive 5-room unit (112 sqm) sells for $489,000.
If we assume that a couple earns $6,000 per month, they will qualify for the Special CPF Housing Grant (SHG) if they buy the 4-room unit. This grant is given to first-time homebuyers who are getting a 4-room flat or smaller in a non-mature estate.
The exact amount is dependent on the combined salary of the couple. At $6,000 per month, the couple would receive a $30,000 grant. This translates to being able to get the cheapest 4-room flat at a price of $247,000.