I'm in a similar situation! For me I don't want to wait another 5 years for a BTO so going for resale flats. However they are really not cheap and usually those within my budget (500k) are in ulu locations like Punggol, Sengkang, Bkt Panjang etc... If I were you I would get a resale flat cause I want a kid and also some time to live alone with my future husband.
Maybe you can start looking at resale flats while still applying for BTO? Always good to keep your options open.
BTO flats are usually highly sought after as a first home. They are also generally more affordable in comparison to HDB resale flats. Another factor is that they tend to appreciate in price after they hit the Minimum Occupation Period.
However, resale flats are also not the end of the world.
Resale flats aren’t ALWAYS more expensive than BTO flats.
The government is also providing the CPF Family Grant of $50,000 (if household incomes do not exceed $14,000) to cushion any potential price differences for resale flats.
Besides that, buyers of resale flats get to enjoy a further $30,000 under Proximity Housing Grant (PHG) if they live with or near their parents.
That is quite a bit of savings!
Also, since the Enhanced CPF Housing Grant has been introduced, couples get to enjoy higher housing grants, regardless of estate type (mature or non-mature estate).
This makes mature estates – a common estate type for resale flats – more accessible for home buyers.
With these grants and also the increase in income ceilings, it is also safe to say that there are steps to ensure that HDB housing is kept affordable and accessible.
So I would think that it'll be good for you to sit down and do the math with your partner and have a discussion about what both of you really want and can live with for the next few years.