The time has arrived — BTO or resale. You’ve heard stories about both, pros and cons for each. You zip through HDB’s website for a table of comparison. There is none.
One netizen has taken the task upon himself and crafted such a table. And netizens, judging by the 2,000-plus shares, are glad.
Starting us off are some considerations which most of us may be familiar with.
The price range he gives for BTO and resale flats may make it appear as if resale flats are much more expensive. But according to data retrieved by MoneySmart, the prices are actually comparable, with resale being slightly more expensive of course.
Source
At the same time, you get more grants for resale flats than BTO ones, so it could very well work out to being cheaper.
Next, the netizen compares flexibility when it comes to choosing your unit as well as the ‘investment value’ of the flats.
You may have heard some people saying that BTO flats are a good investment. That’s because HDB flats usually appreciate in value during the first 15 years. 99.co made a graph that shows that clearly. And just as the netizen pointed out in the infographic, the value of the flat starts to plateau after the 10th year, with a gradual depreciation.
For those who want a house but are struggling to make ends meet, the government extends a helping hand. First-time buyers can receive up to S$80,000 in housing grants depending on monthly household income. For more information about the Additional CPF Housing Grant and the Special CPF Housing Grant, you can visit the website here.
If you’re buying a resale flat, you’ll get additional grants — Enhanced CPF Housing Grant and Proximity Housing Grant i.e. proximity to your parents’ place or your office. For more information about these grants, visit the link here.
Of course, the infographic can only tell so much. This is a limitation which the netizen acknowledges in his disclaimer.
So while it gives a very nice overview of the differences between BTO and resale flats, you should still take the effort to read the details on the official government websites. After all, buying a flat is a huge investment that could pay off well or badly depending on how you plan it.
Good luck!
Featured images adapted from Facebook.
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