In my previous posts Calculations on a HDB purchase versus rental Part I and Part II, I have covered what would be the absolute cost of renting versus buying with a hypothetical example, and also the unrecoverable costs consideration when buying a resale HDB flat instead of renting for singles. In this post, I will talk about pros and cons of BTO for singles.

BTO for singles

Upon reaching the definitive age of 35, eligible SINGLE Singaporeans can apply for BTO at last! Albeit only two-room flexi flats in non-mature estates. The average cost is assumed to be $100k for 45sqm space (prior to eligible grants). Available grants under Single Singapore Citizen Scheme are as illustrated on the HDB website here. Do note that Proximity Housing Grant in this case does not apply. Who should apply? Two-room flexi flat is for you if you are Eligible: Average gross monthly household income does not exceed $4,500 (You are earning more? Ok you can...