Author of Yearning For Justice: A Mother's Musings To Her Future Child  
ISBN10: 0901931217  
ISBN13: 9780901931214  
 
Fund Contribution: POSB savings 279-12328-0

How much to pay for a HDB BTO 3 room flat?

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First, HDB in Singapore means Housing Development Board.

Second, BTO in Singapore means Build To Order.

Payment Number 1: HDB BTO application fee

This is not our first HDB BTO application, each application costs a non-refundable $10 application fee.
Imagine the amount collected when there is always more people applying than the number of flats available?

Total: $10.00

Payment Number 2: HDB BTO option fee during booking of flat

$500 for a 2 room flat
$1,000 for a 3 room flat
$2,000 for a 4 room flat

Total: $1,010.00

Payment Number 3: HDB BTO down-payment when signing of Agreement for Lease

Category 1: Not taking bank loan
5% via CPF or cash during signing
5% via CPF or cash during collection

Category 2: Bank loan ceiling of 80%
5% cash during signing
5% via CPF or cash during signing
10% via CPF or cash during collection

Category 3: Bank loan ceiling of 60%
10% cash during signing
30% via CPF or cash during collection

My money is in my CPF.
For a $200,000 HDB BTO 3 room flat, 5% down-payment is $10,000.

Total: $11,010.00

Payment Number 4: HDB BTO stamp duty when signing of Agreement for Lease

First $180,000 is 1%
Next $180,000 is 2%
Next $640,000 is 3%
Remaining is 4%

For a $200,000 HDB BTO 3 room flat, it will be $180,000 x 0.01 + $20,000 x 0.02 = $2,200.00.

Total: $13,210.00

Payment Number 5: HDB BTO conveyancing fee when signing of Agreement for Lease

First $30,000 is  $0.90 per $1,000
Next $30,000 is $0.72 per $1,000
Remaining is $0.60 per $1,000
Rounded up to nearest dollar, and subjected to 7% GST.

For a $200,000 HDB BTO 3 room flat, it will be $30,000 x 0.90/1000 + $30,000 x 0.72/1000 + $140,000 x 0.60/1000 = $132.60

Rounded up to $133, adding GST to $142.31.

Total: $13,352.31

We're supposed to collect our keys last year, but 85% of BTO projects face delays and we're one of the 43,000 households affected ):

During the collection of keys, we will have to pay a survey fee, registration fee on the deed, stamp duty on the deed, home protection, fire insurance etc... 

How much will the grand total be?
Does it matter or does it not matter?
Since at the end of the 99 year lease it will be $0?

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