CLEO Singapore
Retail House BTO flats Image Credit: CLEO Singapore
Retail House BTO flats Image Credit: CLEO Singapore

Can You Afford One Of These When You're 35?

Buying a house all by yourself might seem impossible now, but with some planning, you can get there. Here’s what you need to know.

If you didn’t already know, Singaporeans who have never been married before can buy a HDB flat once they turn 35. While you may not be eligible for another decade or so, it’s a good idea to know how much you’ll need to buy DOrder (BTO) flats or resale flats from the open market.

If you’re earning $6,000 or less a month, you can apply for either. But if you’re earning more than that, you can only apply for a resale flat.

IF YOU GO FOR A BTO FLAT…

BTO flats have 99-year leases and are generally much cheaper than resale flats. According to Amy, a two-room BTO flat in Punggol goes for about $130,000. Assuming you pay for 20% of it in the beginning (whether using cash or your CPF), and pay the remainder over 20 years, you’ll have to fork out less than $500 a month for your flat (which can be paid with your CPF).

However, there are a few catches if you take the BTO route. Firstly, they take three to four years to build, so it’ll be a long wait before you can move in. And no, you can’t apply for a BTO before turning 35, so by the time you get yours, you’ll be at least 38.

Secondly, you can only apply for a two-room BTO flat in non-mature estates like Punggol, Sengkang and Hougang. This is because the bigger BTO flats are reserved for families.

You can also forget about getting additional income by subletting or renting out your flat. “The government felt that s


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