Our Ultimate Property Guide to Selling, Buying, Renting, Renovating a Home would not be complete without a guide for buying a Build-To-Order (BTO) flat, but because it’s already covered so widely, we thought we’d make it simpler for you. We’ve compiled the top 3 things you need to know before you book a BTO flat — a sort of checklist that you can refer to at any time.
#1: Option fee
| Flat Type | Option Fee |
| 4-room and bigger | $2,000 |
| 3-room | $1,000 |
| 2-room flexi | $500 |
The Option Fee ranges from S$500-S$2,000, depending on the flat type you would like to book. This fee will count into your down payment. This option fee is paid before HDB grants you the Option to Purchase.
#2: Documents needed
If you are booking as a single applicant, the process will be much simpler, as you would only need to submit one set of documents. If you’re co-signing, however, you’ll need documents for all parties. You may submit these documents via the MyDoc@HDB portal. If you’re unable to submit your documents online, bring them along to your flat booking appointment. Here are the documents you’ll need:
For identification purposes
- Identity cards (ICs) of all listed applicants and occupants.
- Verify your digital IC via the Singpass app if you’re employed or serving National Service.
- Passport for non-citizens
- Your children’s birth certificates
Relationship verification
If you’re buying a flat under the Multi-Generation Priority Scheme or Married Child Priority Scheme, you will need:
- Your birth certificate
- Parents’ marriage certificate
- Your marriage certificate if you’re married OR divorce certificate if you’re divorced
- Your spouse’s death certificate if your spouse is deceased
- If you applied for a flat under the Parenthood Priority Scheme, you’ll need either a doctor’s certificate verifying your pregnancy or your child’s birth certificate.
Note: ICs, birth or death certificates can be physical or digital copies.
Proof of income
Depending on your type of employment, there are different documents to submit.
| Type of employment | Documents to submit | Notes |
| Employed | 3 months of payslips preceding the month of flat application. OR Letter from employer verifying salaries for 3 months preceding the month of flat application. The letter needs to have: – Company stamp OR letterhead – Verifying officer’s name, signature, and designation | If your income includes allowances, you’ll need to submit 6 months of payslips preceding the month of flat application. – Exclude bonuses and income from overtime work – Include regularly received allowances (fixed/variable for food, transport etc.)If you’re employed full-time but on unpaid leave for less than 6 months, you are counted as employed and your last drawn salary can be used for assessment. If you’re on unpaid leave for more than 6 months, your income will not be considered in the assessment. Notice of Assessment (NOA) from the Inland Revenue Authority of Singapore (IRAS) will not be accepted. |
| Self-employed (includes private hire drivers, stallholders and more) | Latest NOA from IRAS OR Statement of Annual Accounts certified by an audit firm. AND Valid Accounting and Corporate Authority (ACRA) Computer Information (Business Profile) or valid licence of trade. AND Undertaking affirming the average gross monthly income for 6 months preceding the month of application. | Assessment will be based on average gross monthly income. Undertaking for applicants/occupiers can be found in the invitation package for flat booking. Complete the undertaking and submit it at the flat booking appointment. If you’re not in Singapore, you may complete the undertaking and appoint a proxy to submit it at the flat booking appointment. |
| Part-time/commission-based employment | 6 months of commission statements/payslips preceding the month of flat application. OR Letter from employer verifying your salary for 6 months preceding the month of flat application. The letter needs to have: – Company stamp OR letterhead – Verifying officer’s name, signature, and designation | Assessment will be based on average gross monthly income. |
| Odd-job (includes freelancers) employment | Latest NOA from IRAS OR Letter from employer verifying your salary for 6 months preceding the month of flat application. The letter needs: – Company stamp OR letterhead – Verifying officer’s name, signature, and designation | Assessment will be based on average gross monthly income. |
| Unemployed (from 18-62 years old) | Undertaking confirming unemployment OR Valid student pass or letter from institute of learning confirming full-time student status. If you’ve been unemployed for less than 3 months, you need: – Income proof for preceding months from your previous employer stating gross monthly income and last day of service. – Latest 15 months’ history of CPF contribution. | Undertaking for applicants/occupiers can be found in the invitation package for flat booking. Complete the undertaking and submit it at the flat booking appointment. If you’re not in Singapore, you may complete the undertaking and appoint a proxy to submit it at the flat booking appointment. |
Income/allowance that will not be considered for income assessment include:
- Alimony payments
- Bonuses
- Director’s fee
- Income from overtime work
- Interest from deposit accounts
- National Service allowance
- Rental income
- Overseas scholarship allowance
- Overseas cost of living allowance
- Pension
Read More: The Differences Between BTO, SBF, Open-Booking, and Resale HDB
If you’re also in the market for a resale HDB flat, we’re here for you!
You can browse hundreds of HDB listings for sale on Ohmyhome here. Or you can let our smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match.
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This article was originally published on Planner Bee, your handy financial planning app! Learn more about managing your money, investments and insurance on Planner Bee’s blog.
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