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Home Lifestyle

Here’s A Guide To Purchase A BTO Flat In Singapore

Must Share Good Things by Must Share Good Things
January 16, 2025
in Lifestyle
Reading Time: 3 mins read
Here’s A Guide To Purchase A BTO Flat In Singapore

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With the launch of new Built-To-Order (BTO) flats, many couples might be considering applying for one. The process can seem confusing, so here’s a simple guide to help you through it. Here’s a simple guide to help you and your other half start the journey of purchasing a BTO in Singapore:

Image from Income Insurance
  1. What are BTO Flats?

BTO flats are apartments offered by the Housing and Development Board (HDB) in Singapore. They come in various options, including 2-room Flexi, 3-room, 4-room, 5-room, and 3Gen flats.

HDB announces new BTO launches quarterly. You can check the HDB website for information on locations, flat types, and application periods.

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  1. Who is Eligible to Apply for BTO?

To apply for a BTO flat, you must meet these criteria:

  • Citizenship: At least one applicant must be a Singapore Citizen.
  • Age: Both applicants must be at least 21 years old.
  • Income Ceiling: Your combined household income must not exceed the prescribed income ceiling for the flat type you are applying for.
  1. Do You Have Enough Money to Apply for BTO?

Image from Wema Bank

Buying a house requires significant financial planning. Ensure you have sufficient savings and consider your financing options:

  • HDB Loan: Offers lower interest rates and requires a 10% downpayment.
  • Bank Loan: Higher interest rates but offers flexibility; requires a 20% downpayment.
  1. What are the Steps to Apply for BTO?

Step 1: HFE Letter

  • Apply for the HDB Flat Eligibility (HFE) letter that provides flat buyers with a holistic understanding and assessment of their housing and financing options before they commence their home buying journey.

Step 2: Submit Application

  • Online Application: Apply online during the application period.
  • Administrative Fee: Pay a non-refundable administrative fee of $10.

Step 3: Balloting

  • Computer Ballot System: HDB uses a computer ballot system to allocate queue numbers. Check your results once announced.

Step 4: Flat Selection

  • Appointment: If your queue number is called, attend the flat selection appointment.
  • Option Fee: Choose your desired flat and pay the option fee ($500 to $2,000, depending on the flat type).
  1. What Happens After I Apply for BTO?

Image from Blog | BTO HQ

Step 1: Signing Agreement for Lease

  • Downpayment: Pay the downpayment (5% if using CPF, 10% with an HDB loan, or 20% with a bank loan).
  • Legal Documents: Sign the Agreement for Lease and other legal documents.

Step 2: Completion and Collection

  • Notification: HDB will notify you when your flat is ready.
  • Final Payment: Settle the remaining purchase price.
  • Keys: Collect your keys and take possession of your new home.

By following these steps and tips, you can navigate the BTO process smoothly and increase your chances of securing a flat that meets your needs.

For more information or the latest updates and changes to the flat buying process, visit https://www.hdb.gov.sg/

 

 

 

 

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