Re: Dirvorce proceedings.
your portion of the matrimonial home will be credited back into your CPF account with interest (for the amount paid using your CPF). Amounts above this will be paid in cash to you.
But, after deducting all the outstanding property loan first.
Example:
Sales proceeds = 1.5m
Outstanding balance of property loan = 300k
Say 50/50 share of proceeds, your proceeds = (1.5m - 300k) / 2 = 600k
Amount used to pay for property from CPF account, with interest = 350k
Cash proceeds available to you = 600k - 350k = 250k
For purchase of another property, you can use your CPF balances also.
42 yrs old can purchase HDB flat. But probably a resale.
If you want BTO you will have to find someone to form a family cluster with to apply (children, parents). Then join ballot. Then wait for it to be completed.
Take note that BTO projects now have an expected completion time of 5 - 7 years after applied for the BTO.
So your best bet is still resale. If too expensive, then just adjust your expectations downwards and you can surely afford it without any loans.
There are housing grants available too, even for singles. But not a lot.
If you are not working, dont expect to get any housing loans approved for you.
And be prepared to have a few thousand dollars to pay for fees, Option to purchase, etc.
My advice for you, is to get a fulltime job meanwhile. Even if you dont plan to do that job for many years.
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