So I'd receive a question of any other ways to procure a BTO flat even if we missed the BTO chances; and the answer is yes!
Even though we won't have the flexibility and the freedom of choices, I'm still pleased to share that we currently have 2 options as listed below. However, do note that they would be alittle costlier than the BTO as they are already building underway and some sort of appreciation being priced in overtime. But still it is a great buy if you're comparing the economica-bility of things.
1) Sale of Balance Flat
2) HDB Opening Booking
Sale of Balance Flat (SBF)the SBF launches usually happen twice a year, usually in May and November.
The flats here are unsold units from previous BTO launches, or if there's anyone withdrawing or if the sale simply just didn't go through in any way.
so for context, the current and latest SBF application window is from 27th May to 2nd June (11:59pm).
There are a pretty decent amount of flats available across the different areas of Singapore, alittle less than 2000. So if you're interested, feel free to search them up over @ the HDB website. I'll leave the link here for convenience.
Don't be alarmed as the SBF is always as oversubscribed as the BTOs around in Singapore. There is also a website for you to check out the application rate with live updates over here
Do remember that the Sales of Balance Flat consist of a collective of the previous launches but not just the recent BTO launches. In some cases, the project is already underway or is being constructed currently.
Open Booking Flatscompared to the Sales of Balance Flats, the HDB Open Booking of Flats happened all the time, and applications are generally open throughout the year.
For this year, they would only reopen in Sep. However, for this, they are very limited in size and quantity. So for Open Booking, it would be a "leftover" for the leftovers (from the Sale of Balance Flat). Imagine a funnel from the generic BTO, where after which what's left goes into the Sale of Balance Flats and after which it would transit to Open Booking Flats.
The open booking flats would definitely appeal more to homebuyers who are more pressing and less picky when they're looking for a place as they wanted to prioritize getting a roof over their head.
However, do note that because there is less waiting time, we do have to get our paperwork and things down altogether, from the eligibility to the application, and also the bank loan which is more crucial for Open Booking Flats.
So to help sorted out finances, HDB does have a lot of different schemes from Temporary Loans to Deferred downpayment schemes to aid home buyers. So feel free to reach out to HDB for more information.
Even though to each their own, I feel that these 2 options are still very viable and great alternatives should one miss the BTO and wanted to get a brand new HDB.
However, do take note that these are considered ALTERNATIVES as you're not able to simultaneously apply for both BTO and SBF at the same launch/period.