Hi anonymous,
For the HDB Sale of Balance (SBF) exercise, it's usually conducted twice a year. Once in May and another time in November. And it's usually in tandem with an HDB BTO exercise.
The SBF exercise and application also works like a BTO exercise and application. Meaning you have to ballot for the available flats and you can only choose to either apply for SBF or BTO — you can't apply for both.
So why are there balance flats?
After every BTO exercise, there will be some BTO flats left which nobody picked. And there will also be some BTO flats where the applicants gave up the flat along the way eg. BTO break up, changed their mind and decided to go for a resale flat instead because they can't wait that long and etc.
Sometimes, this includes BTO flats which are already being built!
Source: TODAYonline
Which means that SBF is another chance for you to get a BTO flat during a BTO exercise which you missed!
And it might also mean that you'll get your flat even faster since some of these SBF flats are already being constructed or near TOP.
That sounds great and all, but you also have to consider the fact that there will be:
Lower chances of getting a flat
Since the supply is much lower than a BTO exercise, it really depends on your luck. Plus, you also have to contend with the ethnic quota restrictions. So some flats may not be available for certain races.
Lesser choices
With the SBF, you're going to have to take whatever is left. So it's kind of like a bargain bin. Sometimes you'll find a gem, sometimes all that's left are the ones on the low floors or weird corners which nobody wants. So if you're damn picky, then the SBF is not the way to go.
Oh, and since we're on that bargain bin analogy...
Unfortunately, Sale of Balance flats aren't priced to clear. You're paying full price as though it is for a brand new BTO flat, because it technically is a brand new flat. It's just a BTO flat that was abandoned by its previous owners, or nobody wanted it in the first place...
Okay, thinking of abandoned pets and feeling sad now. But that's besides the point.
If you'd like to find out more... there's no need to go elsewhere. We've got a pretty awesome article that details the eligibility and process of an SBF application (step-by-step) which you can refer to, so check it out!
Hi anonymous,
For the HDB Sale of Balance (SBF) exercise, it's usually conducted twice a year. Once in May and another time in November. And it's usually in tandem with an HDB BTO exercise.
The SBF exercise and application also works like a BTO exercise and application. Meaning you have to ballot for the available flats and you can only choose to either apply for SBF or BTO — you can't apply for both.
So why are there balance flats?
After every BTO exercise, there will be some BTO flats left which nobody picked. And there will also be some BTO flats where the applicants gave up the flat along the way eg. BTO break up, changed their mind and decided to go for a resale flat instead because they can't wait that long and etc.
Sometimes, this includes BTO flats which are already being built!
Source: TODAYonline
Which means that SBF is another chance for you to get a BTO flat during a BTO exercise which you missed!
And it might also mean that you'll get your flat even faster since some of these SBF flats are already being constructed or near TOP.
That sounds great and all, but you also have to consider the fact that there will be:
Lower chances of getting a flat
Since the supply is much lower than a BTO exercise, it really depends on your luck. Plus, you also have to contend with the ethnic quota restrictions. So some flats may not be available for certain races.
Lesser choices
With the SBF, you're going to have to take whatever is left. So it's kind of like a bargain bin. Sometimes you'll find a gem, sometimes all that's left are the ones on the low floors or weird corners which nobody wants. So if you're damn picky, then the SBF is not the way to go.
Oh, and since we're on that bargain bin analogy...
Unfortunately, Sale of Balance flats aren't priced to clear. You're paying full price as though it is for a brand new BTO flat, because it technically is a brand new flat. It's just a BTO flat that was abandoned by its previous owners, or nobody wanted it in the first place...
Okay, thinking of abandoned pets and feeling sad now. But that's besides the point.
If you'd like to find out more... there's no need to go elsewhere. We've got a pretty awesome article that details the eligibility and process of an SBF application (step-by-step) which you can refer to, so check it out!