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It can be quite jittery for brand spanking new home buyers in Singapore, especially partners applying for BTO flats. Here is a set of things you can do before you make you.

1. Look at the income eligibility. Find out if you’re eligible to make an application for BTO based on your combined monthly revenues. BTO applications possess a current income ceiling of $8,000, nevertheless the Government is studying the chance for increasing it to $10,000. This means there’s more people vying to get a limited supply of flats.

2. Sign up to HDB alerts. HDB will state you via email and/or SMS (according to your preference) for the upcoming BTO launches along with the application period.

3. Read the launches, not just to the month, but in addition in the subsequent months where available, to help you produce a more informed choice. Within the month of April, there were launches in Sengkang, Punggol, Hougang and Woodlands. Then in May, there’s Pasir Ris, Tampines, Punggol and Woodlands springing up.

4. Browse the location from the site, best is if that you can do a recce of the place personally. Make sure you look into the nearest amenities and trains and available. Most BTO sites can be found far from the city, so accessibility becomes a key concern.

5. Go through the quantity of flats supplied for every launch. We all know that BTO flats are highly popular and quite often oversubscribed. How many flats offered may be one of your considerations to help increase out of having the flat.

6. Determine the size of of flats you would like. According to your future needs, you could possibly elect to make an application for SA (studio apartment), 2R, 3R, 4R or 5R flats. Only a few BTO launch can accommodate all the sizes.

7. Look into the cost range of the flats. This can be located on the HDB website. To the flats at Sengkang, the price ranges between $280,000 and $370,000 for the 4-room flat.

8. Take a virtual tour with the flats. Through the video, apparently the modern flats are very less space-consuming than current resale flats.

9. Different BTO sites offer either standard or premium flats. Standard flats include minimal fittings in kitchen and bathrooms. In other areas, flooring are excluded. Premium flats are fitted with quality finishes and that means you don’t have to spend much on renovations. Obviously, you need to pay more for premium flats, about $20,000 more roughly.

10. Go through the financing schemes/loans/grants applicable for your requirements. It’s cheaper to secure a HDB loan in a much lower interest than finding a financial loan. Having a HDB loan, you should pay 10% downpayment with your CPF and/or cash.

11. Look at your CPF account to find out simply how much you’ve with your CPF that can be used for downpayment.

12. Utilize the loan calculator function to see what amount of the remaining amount you should pay by instalments.

13. You can examine the need for the flats once the application period begins. Based the April launches, the flats in Punggol were 6-7x oversubscribed the ones in Sengkang/Hougang were about 2-3x oversubscribed.

When you’re finally willing to apply, you need to

1. Visit HDB web site to apply.

2. Within the application form, check ‘co-applicant’ if the SO (lover) is co-paying to the flat. ‘Occupier’ means your SO will be living in the identical flat, but not necessary to co-pay because of it.

3. Should you as well as your SO are not married yet, find the fiance/fiancee option underneath the decrease. Don’t write anything inside ‘spouse’ box.

4. After you’re carried out with the applying, check out pay $10 admin fee. This admin fee relates to almost every time you create a whole new application.

5. Finally, wait and we imagine you are successful within the balloting exercise. Typically it takes about 3 weeks approximately for your brings about be announced. You can check the approval results here.

Good luck!