This is a follow-up article from our previous article on the Silver Housing Bonus (SHB): $20,000 Silver Housing Bonus: Should You Apply For It?.
Today's topic is on the 2 schemes that the Government has introduced to help elderly Singaporeans monetise their homes.
While it might not apply to you now, it might apply to your parents, grandparents, or older colleagues, in which case, you can share with them this article to let them know of these schemes.
Can I Join LBS after I got my SHB?
Source: Flickr
You are basically downsizing first, then selling the remaining lease of the downsized flat back to HDB.
You can apply for SHB after 55 years old and then apply for LBS after 65 years old.
But, you will only be eligible to apply for either the SHB bonus or the LBS bonus, and not both.
Meaning if you had gotten the SHB bonus, you will not be able to...