First-Timer or Second-Timer?

If you fulfill the EC Eligibility Checklist criteria to purchase an Executive Condo directly from developer, then you are either a First-Timer or a Second-Timer.

First-Timer basically denotes a scheme which has not purchased any flats directly from HDB; or a scheme which has purchased a resale HDB flat without CPF Housing Grant. First-Timers can apply for CPF Housing Grant when buying the EC under the Public Scheme or the Fiancé/Fiancée Scheme.

Excerpt from HDB Website:

You will be considered a first-timer applicant if you have not received any housing subsidy from HDB, which means that you must not:

• Be the owner of a flat bought from HDB
• Have sold a flat bought from HDB
• Have taken the CPF Housing Grant to buy an EC, Design, Build and Sell Scheme (DBSS) flat or an HDB resale flat, or taken over ownership of such a flat or EC
• Have transferred the ownership of a flat bought directly from HDB, or an HDB resale flat bought with a CPF Housing Grant
• Have ever taken other forms of housing subsidy, such as Selective En bloc Redevelopment Scheme benefits or privatisation of HUDC estate

Second-Timer basically denotes a scheme which has been a First-Timer before and now wishes to purchase the EC directly from developer. If you fall under the 30% quota of the Second-Timers, then your Ballot chances are as high as a First-Timer. Second-Timers are also liable to pay a Resale Levy when they buy a new EC directly from developer. A few ECs are exempted of the Resale Levy though. But ECs that are launched from 2015 onwards will have the Resale Levy rule imposed on Second Timers.

Next Read: EC Payment Schedule