Bidding for a BTO flat can feel as difficult as winning TOTO. Most of us would have heard of or known of a friend (or friend of friend) that has been bidding for a BTO flat for multiple times. This number can range easily from 4 to more than 10 depending on who you ask. Given that BTO launches are 4 times a year, that means spending more than a year just bidding for a BTO flat.
Yet, about 9 in 10 BTO applicants successfully bid for their BTO flats within 2 tries and almost all will be able to do so within 3 tries. This success rate has a few caveats: it is for first-timer households and for BTO flats in non-mature estates.
So, what’s the secret to bidding successfully for your BTO flat within two or three tries?
Read Also: [2022 BTO Application Edition] Step-By-Step Guide To Buying A HDB BTO Flat
Bid For Non-Mature Estates
The first (and likely most frequently ignored strategy) is to bid for non-mature estates. As a general rule of thumb, non-mature estates are less sought after which means that your ballot has a better chance of succeeding.
If you are a first-timer household, you are likely to succeed in your ballot within 2 or 3 tries if you bid for non-mature estates. Your chances actually increase after 2 rounds of application for BTO projects in non-mature estates as you will receive an additional ballot chance starting from your third application for every non-mature estate BTO application. Not only will you increase your chances of a successful bid, but you will also enjoy the more affordable BTO flat prices in non-mature estates.
Unfortunately, many BTO applicants choose to apply for mature estates for various reasons including hoping to live near parents or to try for a chance at winning at the BTO lottery by scoring a subsidised BTO flat in a mature estate to resell at a handsome profit after MOP.
To counter such a BTO lottery mindset, HDB has introduced the Prime Location Public Housing Model, which imposes additional restrictions (and subsidies) for centrally-located BTO flats. Based on the applications on the August 2022 BTO, this may have curbed the overwhelming demand for BTO flats in mature estates as the PLH launch at Bukit Merah (Alexandra Vale and Havelock Hillside) received application rates of 1.0 to 3.7 for first-timers, compared to the non-PLH launches at Ang Mo Kio (Central Weave@AMK) and Tampines (Sun Plaza Spring) which received application rates of 8.2 to 8.7 and 17.2 to 18.5 respectively.
Read Also: Non-Mature VS Mature HDB Estates: What’s Really The Difference?
However, if non-mature estates are not your choice, there are still some more tips to improve your chances of BTO bidding success.
Maximise Your Ballot Chances With Priority Schemes
If you are a first-timer applicant, you naturally enjoy an additional ballot chance (for a total of 2 ballot chances) compared to second-timers. Additionally, a larger proportion of BTO flats at each launch is also set aside for first-timers
BTO applicants can also maximise our chances with the various priority schemes. For young couples who don’t mind living with or living near parents, you can use the Married Child Priority Scheme (MCPS) and Multi-Generation Priority Scheme (MGPS) to increase your BTO ballot chances. If you have children or expecting a child, you can receive another ballot chance to help them get their flat more easily under the Parenthood Priority Scheme (PPS). If you have more than 2 children, you can ballot under Third Child Priority Scheme (TCPS).
By maximising your ballot chances with the relevant priority scheme for your household, you can increase your chances of a successful BTO ballot.
Read Also: Complete Guide To Priority Schemes For HDB BTO Flats
Optimise Your Bidding By Checking The Application Rates
During the open application period which usually lasts for a few days, you can also optimise your bidding. HDB publishes and updates the application rates for each launch daily during the open application period.
As a strategic BTO bidder, you can wait to apply later during the application period. This allows you to bid for projects that receive fewer applications, thus increasing your chance of success. Some launches have multiple projects within the same launch which means that you can bid for the least popular project within the same estate.
Even within the same project, you can also have a choice of flat types. If you are not fixed on the flat sizes, you can also opt to bid for the less popular flat type to increase your chances of success.
Be A First Timer
However, it does appear that BTO applicants are getting choosier. For those who succeed in BTO application, about four in ten applicants who were invited to book a BTO flat did not do so. Reasons cited include their preferred units not being available, wanting to apply for flats in other sales exercises, or having decided to purchase a resale flat instead.
Implicit in the successful statistics of bidding for your BTO flat within two tries, is the fact that these applicants are first-timers. HDB prioritises providing affordable public housing, especially for first timers. Unfortunately, while second-timers can apply some of the strategies listed here, be prepared for a lower rate of success. It will likely take you more than 3 tries to get a BTO flat even if you bid for a BTO flat in a non-mature estate.
Read Also: Second-Timer HDB Buyers: What Are The Grants and Subsidies Available For Your Second HDB Flat?
The post How To Successfully Bid For A BTO Flat Within Three Tries appeared first on DollarsAndSense.sg.
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