Small 2 or 3 rm HDB resale without grant before applying for BTO - does it make sense?

I am finding myself in this same situation now, hence landing in this thread. I did some calculation... and concluded that I should go ahead and take the resale grants now because the grant amount is quite hefty. If I'm not wrong I could get around 100k, as compared to 30k EHG. This means I need to put back a looot of accrued interest later, but this will go towards my next BTO purchase.

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I will have to pay a 40k resale levy, but it still seems to make sense cos of the large grant amount. Either I pay a lot of accrued interest to my own CPF when I sell the resale, or end up paying more loan interest.

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I just need to make sure I have enough cash savings on hand.

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Am I right?

I think the timeline is ok but if you wait till years later to utilise your grant, do note that your income assessment will of course be affected (and hence grant value if any). If you exceed the income ceiling (9k combined) by then, you will not even qualify for the grant.

EHG is applicable to resale too so I think it might be better to use it for your 3 room resale first (especially if you're not at your expected salary peak yet, which I doubt since you're still 29/30). Either ways, the grant value (plus accrued interest) will be returned to your CPF-OA accounts upon sale of your resale flat, so it's not like you have to pay it back to the government.