Many young Singaporeans view home ownership as a status symbol. For one, it’s a clear sign of financial independence, which is one of the major milestones of becoming an adult.
The surging demand for BTOs has left many applicants waiting years for their dream homes. To help you get ahead of the curve, we’ve outlined 4 BTO hacks that will help you get your HDB keys ASAP.
Understanding the BTO application process
Before we jump into the specifics, let’s start with an overview of the BTO application process. The first step of the process is to obtain an HDB flat eligibility letter (HFE). The HFE assesses your eligibility to buy an HDB flat, receive CPF grants, and obtain a housing loan—all of which are crucial to the BTO application process.
Image credit: TheSmartLocal
Once you’ve assessed your eligibility to purchase an HDB, the next step is to conduct research on the BTO project you want to apply for. There are about 3 BTO launches each year, with each upcoming launch being announced on the HDB website.
Upon deciding on the flat type and specific project you want, you can ballot for a queue number under 2 options: the public scheme for singles, or the fiance/fiancee scheme. Additionally, you don’t need to actually be engaged at the time of applying for the fiance/fiancee scheme.
Assessing the likelihood of a successful application
Once you’ve submitted your application, all that’s left is to wait for the outcome. Look out for an email notification within 3 weeks of the application closing. This email will allow you to log in to the HDB Flat Portal and view your ballot results.
To assess the likelihood of getting a queue number, you can check the HDB site to see how many people applied for your project.
Image Credit: kpo & czm
A smaller queue number exponentially improves your chance of landing the flat, as applicants are called on to select their flat in order of their queue number. If your number is within the maximum number of flats available, your chance of securing the flat will skyrocket.
Strategies to maximise your odds of success
While luck will always be a factor in securing a queue number, there are ways to maximise your odds. Here are some approaches to improve your chances of getting that coveted queue number email notification.
1. Choose non-mature estates
Image credit: ST file
The first and most foolproof way to improve your BTO chances is to apply for a flat in a non-mature estate. As they’re typically further away from shopping malls and other hotspots, many buyers view them as less desirable properties.
As a result, fewer people apply for these properties, which would increase your odds of success should you decide to apply for them.
2. Consider smaller flat types
Bigger homes are generally seen as more practical due to their relatively higher square footage, which fuels their higher demand. As a result, smaller flat types like 3-room flats tend to have lower application rates in comparison to 4-room or 5-room flats. This translates to a higher success rate when balloting for these smaller BTO flats.
3. Leverage priority schemes
If you’re dead set on applying for a competitive BTO project, you can still increase your chances by leveraging one of the various priority schemes available. HDB sets aside a percentage of flats for those applicable, though the exact percentage differs for each scheme.
Among these, popular options include the Family and Parenthood Priority Scheme (FPPS), as well as the Married Child Priority Scheme (MCPS). You can take a look at which scheme best fits your needs here.
4. First-timer advantages
Similar to the priority schemes, up to 95% of the units in BTO projects are set aside for first-time applicants. This means that HDB will prioritise those who have not previously been successful in obtaining a flat before.
Additionally, first-time applicants also get additional ballot chances after 2 unsuccessful attempts for flats in non-mature areas. Just don’t forget to select a flat when you eventually do get invited to do so—if you fail to select your flat, your first-time applicant status will be revoked and you’ll lose your first-timer advantages.
Hacks to get a BTO faster
It’s important to remember that while you can maximise your chances of landing a BTO with these methods, luck also needs to be on your side. The most important thing in the BTO application process is to manage your expectations, and remain persistent so you can finally get your dream home.
Read our other articles here:
- HDB’s voluntary early redevelopment scheme (VERS) explained
- What DBSS flats are and where you can find them
- The housing you can buy with S$500K overseas
Cover image adapted from: HDB, @annclarissa
Drop us your email so you won't miss the latest news.
