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The first thing to do is check HDB for all upcoming Build-to-Order (BTO) exercises. HDB will announce this in the newspapers, on their InfoWEB and through other media sites.
Interested parties will be provided with information pertaining to the BTO such as;
1. Location
2. Indicative prices
3. Preliminary designs
4. Number of units of flats offered
5. Race quota
Before applying, remember to check your eligibility for buying a flat and taking a loan.
If you are eligible on both fronts, you then need to review your finances and ensure you have enough money to pay for option fees, down payments, legal fees, resale levy, renovation costs, home protection insurance and other related costs.
Once everything is in order, fill in the application and submit it online to HDB at www.hdb.gov.sg. Alternatively, you can visit HDB hub or any of the HDB branches and submit your application in person if you do not have access to the internet.
At this point, you will be expected to pay a non-refundable fee of $10.
HDB will release the queue position to applicants at the end of the application period.
If there is sufficient demand, a computer ballot will be conducted by HDB to determine the queue position of each applicant. Those that are not shortlisted will be notified of this.
If you are shortlisted, you will be required to pay the Option Fee. The Option fees are as follows;
1. 4/5- room and Executive flats: $2,000
2. 3-room: $1,000
3. 2-room: $500
4. Studio apartment: $250
There are also documents you are required to bring with you during payment of the Option Fee. Ensure that all persons listed in the application present their respective documents;
1. Identity Cards
2. Birth Certificates of children for proof of relationship
3. Passport for non-citizens to confirm residential status in Singapore
4. Income documents for assessment of income ceiling to buy a flat
5. Income documents for assessment of income ceiling if Additional CPF Housing Grant (AHG) or Special Housing Grant (SHG) are taken.
If all the documents are in order, HDB will call you to sign the lease. This can range from three to six months.
You will be required to submit loan documents when you sign the lease. If you are applying for a housing loan with HDB, this will be the HDB Loan Eligibility (HLE). If you are applying with the banks, then this is the Letter of Offer.
There will also be a down payment of 1-3% of legal and stamp fees either by cash or CPF money. The costs involved differ and information regarding it can be found here.
Once all documents have been submitted and processes completed, the application is now finalized and you can collect your keys to your BTO in about 3 years.