All you need to know about buying an HDB flat, from the differences between BTO and resale flats to applying for a flat.
By Wong Li Ying
Note: The information in this article has been updated on 27 August 2024.
Not sure if you should buy an HDB BTO or resale flat? Here’s an overview of the differences.
| Flat from HDB (BTO, SBF, Open Booking) | Resale flat |
| Waiting time | BTO flats Median waiting time is currently 4-4.5 years, HDB aims to bring waiting times down to 3-4 years by 2024. 💡 Some projects have shorter waiting times of less than 3 years. |
SBF flats
Apply during SBF sales exercise
The HDB Flat Eligibility (HFE) letter informs you of your eligibility to buy an HDB flat, receive CPF housing grants, and take up an HDB housing loan. If you are interested in taking up a loan from a financial institution (FI), you can also concurrently apply for an In-Principle Approval from participating FIs when applying for an HFE etter.
You will need to have an HFE letter before you can:
The HFE letter is valid for 9 months, so bear in mind its validity and consider applying early!
Learn more in our guide to applying for an HFE letter.
Here’s how you can calculate your flat budget, by summing up your:
You can also use HDB’s budget calculator to help you with the math. The calculator pulls information from your approved HFE letter, so you don’t have to enter the information again!
💡 Not sure whether to take up a loan from HDB or an FI? Here are some considerations to think about.
Your next steps will depend on whether you intend to buy a BTO or a resale flat. Check out our respective guides to learn more.
| Buying a BTO Flat | Buying a Resale Flat |
| Step 3: Look out for sales launches Step 4: Submit application Step 5: Receive application outcome Step 6: Book flat Step 7: Sign Agreement for Lease Step 8: Collect keys to flat |
Check out these other useful guides for first-timers:
