BTO at 21!
hello! im back :) this time with a bto update. my partner and i applied for this around May 2025. we managed to get it on our first try!!! we got a decent number too! (6x out of 188) SUPER LUCKY 🍀
we just completed our flat selection recently (jan 2026) and we got the unit we wanted (sadly couldnt get a higher floor but itsok)
so our flat cost ~ $590,000 in total
just a little breakdown of how we are going to finance this.
(assuming no grant)
$120,000 ~ downpayment
$70,000 ~ extra cash topup
$400,000 ~ hdb loan
thankfully we have already saved enough for our downpayment. since our hdb will only be ready in 2029, everything we save from now on (3 yrs) will be for reno and additional savings! we are also under DIA so our loan will only be assessed closer to key collection date :)
anyways, we applied as owner and occupier but we are planning to change it to joined tenancy instead. after careful consideration, decoupling is not the best option. we wanted to decouple so we can invest in private properties in the future. however i dont think private properties is that good of an investment now as housing prices are very high and price will never jump as much as it did before. we will have to pay debts for most of our life and we definitely do not want that! furthermore, we will be paying lots of interest for both the hdb and condo. its also not guaranteed that we can afford a condo in the futre. if anyone have any advice, feel free to dm me or comment!
Applying for a BTO flat at such a young age—21—has been quite an adventure for us. From the moment we submitted our application in May 2025, the excitement was real, especially after receiving a lucky queue number (6x out of 188). That initial thrill motivated us to prepare early, both financially and mentally. One key piece of advice I've learned is to start saving for the downpayment and other costs as soon as possible. Having $120,000 ready for the downpayment alleviated much of the early financial stress. We decided to skip any government grants to make our calculations simpler and more conservative. We also learned about the importance of timing. Although the flat is only expected to be ready in 2029, this gave us a good three-year window to save for renovation and extra expenses. Since we're under the Deferred Income Assessment (DIA), our HDB loan eligibility and assessment will only be finalized closer to the key collection date, which means we have some breathing room. Regarding tenancy, initially applying as owner and occupier made sense because it met the eligibility criteria and HDB policies. However, after researching and reflecting on our long-term plans, we opted for joint tenancy instead of decoupling. The reasoning behind not choosing decoupling was mostly financial—I realized the burden of paying off multiple property loans like HDB and private condos could be overwhelming and risky, especially considering the current high real estate prices. From personal experience and discussions with others, private properties can be a less attractive investment now due to inflated prices and uncertain future returns. Instead, focusing on managing and enjoying our BTO flat seems more achievable and practical for us at this stage in life. If I were to give advice to other young couples or singles applying for BTO, I’d say: be realistic about your finances, plan for the long term, and keep an open mind about tenancy options. Also, engage with the community by sharing your experience or asking questions because sometimes peer advice can highlight things we might overlook. Lastly, the journey doesn't end with securing the flat—it's just the beginning. Renovations, moving in, and settling down require patience and planning, but it’s incredibly rewarding to finally have a home that’s yours. We’re excited about this new chapter and the memories we’ll create here.
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