BTO advice

Hi everyone, sincerely looking for some advice which can help us with our decision.

Our budget is around $400k to 500k (no CPF grants), and we’re hoping to stay in a more central area (i.e, AMK, Bishan, Toa Payoh). We are considered second-timers and are aware that there is a 20% ‘resale levy’ to be paid on top of our flat price.

We are currently deciding between:

• buying a resale flat with say, around 50 years remaining lease or
• applying for a BTO.

Our dilemma being, with a resale flat, we are concerned about property value depreciation due to the shorter remaining lease, whereas with a BTO, although the purchase price is higher, it seems more likely that the flat will appreciate or at least retain its value in the long run.

Given our budget and situation as second-timers, which option would make more sense financially and practically? Would appreciate any insights or personal experiences. Thanks!