While you’re waiting for the next batch of BTO 2024 projects to be launched, you can start preparing for how you’re actually going to get a successful ballot. Here are 5 tips to enhance your chance when balloting for a BTO 2024 project.
#1: Select a BTO 2024 project that’s within 4km of your parents’ house
I know you’re excited to leave the nest and start your new life with your partner in your new home, but you don’t have to go too far.
HDB reserves up to 30% of BTO flats for those who apply under the Married Child Priority Scheme (MCPS). This is when you apply for a BTO project within 4km of your parents’ home, regardless of whether it’s a HDB flat or a landed property.
However, the only downside to this is your MOP will also apply for your parents’ property. This means they will have to continue living within the same radius of your home until your 5-year, or 10-year, MOP is up.
#2: Apply to the same BTO 2024 project as your parents
You may not see this as a blessing now, but trust me, when your parents are just a few floors down from your block and you need someone to look after your child or help you get your laundry going while you’re stuck at work, it’s going to be a godsend.
Under the Multi Generation Priority Scheme (MGPS), both you and your parents can apply to the same BTO project to increase your chances of winning a ballot. You can make a joint application for two separate flats. Do take note though that your parents can only apply for up to 15% of the 2-room flexi or 3-room flats, so the BTO project you pick must have this unit mix.
#3: Ballot for a BTO 2024 project in a non-mature estate
It’s no secret that BTO flats in mature estates are the popular picks of every BTO sales launch. More so now that there’s the PLH model in place. They’re in more central locations with more amenities nearby and are closer to the city. However, this means higher competition.
The more people apply for a BTO project, and a lot of people select mature BTO projects, the less chances you may have at winning a ballot to select a unit. In comparison, BTO flats in non-mature estates usually have less competitive application rates, so you may have a higher chance of getting the BTO flat of your choice.
While these up-and-coming neighborhoods may not be as developed as those in mature estates, they still offer a good amount of amenities, from food outlets and entertainment spaces, to parks, gyms, and healthcare facilities.
Take Choa Chu Kang for example. I’ve lived there for the better part of my childhood and never once complained about the lack of amenities nearby. There were malls both big and small within walking distance or two bus stops away to dine at restaurants, shop, watch the cinema, and get my weekly groceries. And now, there’s an MRT station being built within a two-minute walk away from my previous flat as part of the Jurong Region Line. (Fun fact: Choa Chu Kang is soon to be the “Jurong East” of Northwest Singapore. So, you may want to consider BTO projects in this town.)
Aside from being more affordable, HDB BTO sites located in non-mature estates can also be ideal for you if you prefer a slower pace of living in a quieter area. (Though the same can be said for neighbourhoods in mature estates, especially flats deeper in the area and further from the MRT station.) Sometimes, non-mature BTO projects are also closer to greenery and can even offer unblocked waterfront views.
Read this to know which BTO 2024 projects are in mature and non-mature estates.
#3: Select less popular flat types
Similar to choosing a BTO flat in a non-mature estate, there are less competitive application rates for less-popular flat types.
Typically, most families or newlyweds opt for a 3-room flat as they form a smaller family nucleus and need less space. However, if you know your family will be growing in the years to come, it’s good to choose a bigger-sized flat in anticipation of your future plans.
In recent years, 4-room and 5-room flats have been less popular compared to 3 room flats, so you may want to consider these flat types instead.
#5: Don’t apply for a BTO 2024 project straight after the sales launch
Look, balloting for a BTO can often seem like a rat race. Everyone has this notion that it operates on a “first come, first serve” basis. While that may be true in some regard, if you want to successfully get a BTO flat, you should check the application rates first and monitor the results for a few days so you can apply for the BTO project and flat type with the least competition.
For instance, during the May 2021 BTO exercise, the 4-room flats launched for sale in the Bukit Merah project were already oversubscribed by 30.3 times within three days of launch. At the end of the application, the application rate reached nearly 50 per unit.
That said, if you still want to apply to the Feb 2024 BTO projects early, make sure to have your HFE letter ready and submit all the required documents to HDB by 15 January 2024.
We may be skimming the top here, but these are some action plans you can consider before you apply for a BTO in 2024.
You can also consider applying for SBF or Open Booking flats
If you’re not fond of waiting but still want a BTO, you can choose a Sales of Balance Flat or flats under the Open Booking system. Though these flats have a reputation for being “leftover” units, I know of friends who’ve gotten really good units under SBF or Open Booking, so don’t dismiss them entirely.
However, while the waiting period for SBF and Open Booking flats are significantly shorter than BTO flats, you’ll still have to wait.
If you’re not fond of waiting, consider buying a HDB resale flat instead
There are newly-MOP flats in the market that are often newly renovated and in good condition. Though their asking price tend to be higher, they’re a good choice for you if you’re looking for a newer flat.
Let Ohmyhome Super Agents find the best home for you in the resale market. With decades of experience under their belt and thousands of happy customers served, you can trust that they will do right by you. Simply drop us a message on WhatsApp or our Live Chat at the bottom, right-hand of the screen to reach any of our agents.
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