So, we are a young couple in our early 30s looking to get our first home. Currently, we're considering a 4-room layout (we manage to get a great que number of sales of balance) and are torn between a resale flat and a newer Built-To-Order (BTO) home, especially since we plan to undertake a complete renovation.
We've heard that older resale HDB flats often offer more space and typically don't have a household shelter, which appeals to us. We dream of having a kitchen island and a play area for our future children.
Any advice or insights would be greatly appreciated!
I’d prefer older resales for that extra sqm of space. The absence of a household shelter in older flats can offer more flexibility in layout design. its better for storage to be custom made and tailored to our needs in the form of built-in carpentry than a structural shelter that cant be moved.
Need to ensure your renovation budget can accommodate the extra works like hacking and dismantling needed in a resale unit, hacking easily costs from 4.5K onwards for a full-makeover.
Considering your desire for space and a specific layout, I’d lean towards suggesting a resale flat. They offer more room for customization due to their more squarish layout and lack of structural walls in the middle of the floor plan. Also, resale flats allow for immediate renovation start, unlike BTOs, where you have to wait for the building to be completed. Even sales of balance flat like yours have a pretty extensive admin time of 3 to 6 months before you can collect your keys.
Budget-wise, you'll need to factor in not just the purchase cost but also the renovation expenses. BTOs are cheaper upfront, as some of the components are provided and some works are already done, e.g. your flooring would have already been cement screeded, even if you didnt choose the HDB optional component scheme. HDB also provides WC and good quality windows for new homes.
Like mentioned by Chris, resale flats can come with potential renovation issues that might hike up your budget unexpectedly. For instance, dealing with wear and tear, pipe leaks or outdated electrical wiring. Rewiring starts around 2k, and plumbing probably another 2K too depending on the age of the unit. So you be prepared to fork out at least $10-20k more for resale renovations.
These guys above all talk about cost but didn't mention your interior design requirements 🤣
Newer BTOs are designed with modern living in mind, possibly making it easier to incorporate that kitchen island and kids' play area without needing extensive structural changes. Only down side is the waiting time and when you want to have kids!
Benefits of resale HDB is due to their bigger sqm, you can get almost any size of kitchen island lol