Author: Singapore Real Estate Insider

Transforming Ordinary Home Owners to Real Estate Winners and Grow, Accumulate, Preserve Wealth through the Home you Own in 90 Days with our Proven 3-Step Process, The R.E.I Method™

Decisions You Need To Make Before Buying A BTO Flat

Getting a BTO flat is a significant decision. Yet, a successful BTO application is just step one and there are even more decisions that require your careful consideration in the long run. Here are some decisions you need to make before buying a BTO flat.Since August 2018, you are allowed to retain up to $20,000 in your CPF Ordinary Account (OA). Before, it is a requirement to fully utilize your CPF OA funds to pay for the flat before taking up a HDB loan. Clearing your CPF OA can help to reduce the housing loan amount that you take up.

What is a safe asset to you?

Safe assets are assets, which do not carry a high risk of loss, across all types of market cycles. Some of the most common types of safe assets historically include real estate property, cash, Treasury bills, money market funds.

HDB BTO – What You Should Know Before Buying Your First BTO Flat

Build-To-Order (BTO) flats are HDB flats that are built based on the percentage of bookings of apartments. If more than 60% of the apartments in the BTO flats have been booked, then construction will begin right away. Otherwise, construction won’t push through. Because there needs to be a demand first prior to this type of real estate property being constructed, there is a particular wait time for BTO flats. Once HDB receives the sufficient number of qualified applicants, they will then have to wait another three to four years before the building is even constructed.

Something i have to admit (Part 1 of 3)

Let me share with you potentially is the Biggest Blunder because I did not have enough data and information to help me make an informed decision. And most importantly, my knowledge about property was still limited.

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