Singaporean’s Step-by-step Guide: Applying For Your First HDB BTO (November 2018 Launch)
How to apply for a HDB BTO?
Buying your first BTO(Built-To-Order flat) can be very daunting. Many couples spend hours on end researching and trying to understand the whole hoo-ha of how exactly to apply for a BTO.
These are the new November launches and their respective starting price:
| November 2018 BTO Prices | ||||
|---|---|---|---|---|
| Town | Contract | Flat Type | Selling Price (Excluding Grants) | Selling Price (Including Grants) |
| Non-Mature Towns | ||||
| Tengah | Plantation Grove | 2-room Flexi | From $101,000 | From $21,000 |
| 3-room | From $193,000 | From $118,000 | ||
| 4-room | From $290,000 | From $230,000 | ||
| 5-room | From $397,000 | From $392,000 | ||
| 3Gen | From $423,000 | From $418,000 | ||
| Sembawang | EastGlen @ Canberra | 3-room | From $165,000 | From $90,000 |
| 4-room | From $251,000 | From $191,000 | ||
| 5-room | From $327,000 | From $322,000 | ||
| Yishun | Melody Spring @ Yishun | 3-room | From $170,000 | From $95,000 |
| 4-room | From $259,000 | From $199,000 | ||
| 5-room | From $346,000 | From $341,000 | ||
| Sengkang | Fernvale Acres | 4-room | From $270,000 | From $210,000 |
| 5-room | From $366,000 | From $361,000 | ||
| Mature Town | ||||
| Tampines | Tampines GreenGem | 2-room Flexi | From $134,000 | From $94,000 |
| 3-room | From $240,000 | From $220,000 | ||
| 4-room | From $352,000 | From $347,000 | ||
| 5-room | From $472,000 | From $472,000 | ||
Table adapted from: HDB
Purchasing your house should be a very easy process. Here are the steps required to applying for your first BTO.
1) Check if you are eligible for HDB BTO
Complete this survey to check your eligibility.
A quick mental checklist before the survey will be that:
- At least one of the applicants is a Singaporean
- The other applicant is either a Singaporean or a Singapore Permanent Resident.
- Either or both the applicants are 21 years or older
- Your combined income does not exceed $12,000 ( Special cases will be mentioned in the description of launch)
- You do not own other local or overseas property
- You have not sold any property within the last 30 months
- You have not bought more than one new HDB/DBSS flat or EC before.
- You have not received more than one CPF Housing grant thus far.
2) Financing your HDB BTO
Ensure that you have enough to pay the initial cost.
If you are purchasing your flat from HDB:
| Stage | Payment Due | Mode of Payment |
|---|---|---|
| Submitting your application | $10 | Credit Card |
| Booking a flat | Option fee | NETS |
| Signing of agreement for lease | • Stamp duty • Downpayment | • Cashier's order • CPF |
| Collection of keys | • Stamp duty and legal fees • Home Protection Scheme • Fire Insurance • Balance of the purchase price | • Cashier's order • CPF |
If you are purchasing a DBSS flat or EC from a developer:
| Stage | Payment Due | Mode of Payment |
|---|---|---|
| Submitting your application | Determined by developer | Determined by developer |
| Booking a flat and signing the Option to Purchase (OTP) | Option fee - 5% of purchase price (goes to the cash portion of the downpayment) | • Cash • Cashier's orde • Cheque |
| Signing Sale and Purchase Agreement | • Balance downpayment • 1% to 3% legal fee and stamp duty | • Cash • Cashier's orde • Cheque • CPF |
| Collection of keys | If paying installments using CPF savings: • Home Protection Scheme* • Fire Insurance* The developer will inform you of any other payments to make | • Cash • Cashier's orde • Cheque • CPF |
| *Not applicable for ECs | ||
Tables adapted from: HDB
Apply for the HDB loan eligibility (HLE) letter if you are looking to take a loan from HDB. You will need this HLE letter when selecting your flat.
You can also approach your preferred bank for a loan. You will need a valid Letter Of Offer from the banks before signing the agreement for lease.
3) Lookout for BTO launch and apply!
Keep yourself updated for BTO launches and apply here.
- $10 application fee is required for the application.
This will be the tip of the iceberg in the slew of payments for your new home.
Read also: Brief: Is This A Good Time To Buy Your BTO?
4) The result of your application for your HDB BTO
- When application period ends, your queue position will be balloted. Application result will be sent to you via email or post.
You can also check the status of it online.
Applicants will be invited to select a flat according to the balloted queue number. Whether or not you get your chance to select a flat depends on the flats available when it reaches your queue number.
5) Paying option fee
- If you’re lucky enough to be able to select the flat you want, an option fee is required when you select a flat.
A valid HLE letter is required when selecting a flat if you are taking a loan from HDB.
6) Agreement for lease and keys
- Sign the agreement for lease or to collect the keys for the flat, few months after selecting a flat.
The signing of an agreement for lease are for flats that are still under construction, and keys for flats that are already completed.
This is the stage where you pay for the downpayment, legal fees, and stamp fees. A valid HLE or Letter of Offer from the bank is required at this stage too.
Read also: EC vs BTO, Which One Should You Get?
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