In 2019, my fiancé and I have decided that our new year resolution would be to start exploring our options for our future home in Singapore. That would have been much easier if we had done our homework a few years earlier. Unfortunately, we were not one of those far sighted couples that applied for a BTO even before the proposal, or in some cases, even before you truly know that you are in the relationship for the long haul.
Which means now if we were to do it, it would take another 3 to 4 years before we get the keys to our flat. And this is discounting the time it takes to ballot for one in a good location. Not surprisingly, it did not take long for us to rule that out as an option.
So what about a resale HDB?
Well, as both of us are doctors, the location is super important to us as we do not want to spend valuable time travelling to work. Most days we have to be in by 7am so if we have to travel for an hour to get to work it is totally a no go. That requirement narrowed it down to resale HDBs in the central area.
Property AdviceDownpayment for condo in 2020: How much do you have to save exactly?
by StanleyAt this point I would like to throw out a disclaimer that I am in no way an expert on property in Singapore. And I was still shocked when I learnt that some HDBs in Singapore have crossed the million dollar mark. Which, to us, is absolutely mind boggling. Nothing against HDBs of course, perhaps it was just a barrier in our mind that we weren’t willing to cross. So that went out of the window as well.
More from Stacked
How Can War Affect The Price Of Your Home
Like the pandemic, no one could have predicted the onset of war in 2022. Just as things seemingly were getting…
Which leaves us with the private market.
We have spent the past month or so looking into our finances, budgeting and researching on places and we have come to one common conclusion.
As a first time home buyer in Singapore, yes, it is really that expensive.
The cooling measures are unforgiving, the taxes can really add up and there are just so many things to learn about the process. Buying a home as a first time home buyer can be overwhelming and very stressful. We have been saving for a few years now, and even so, the large amount you have to put down in cash as a downpayment, plus the thought that you are locked into a very long loan and future monthly payments is a very scary thought indeed.
Which is why we want to share our journey as a first time home buyer as we feel that everything that we have learnt along the way so far would have been so much easier if there was a guide. The stress and excitement of the process is real, and we hope that by documenting the home buying process this can help others that are in a similar situation. This is the first post on this journey, so watch this space as we start to view different condominiums and new launches!
Read more on Jared’s journey:
Part 1: First time home buyer in Singapore: Our personal home buying experience
Part 2:Why we chose to look for a central resale condo
Part 3: Our first viewing at Regency Suites
Jared
Jared is a medical doctor by training but enjoys writing on the side as a hobby.Read next from Homeowner Stories
Homeowner Stories “I Didn’t Think Property Prices Could Go Up So Fast Anymore With ABSD” Why One Buyer’s Regret Still Feels Familiar Today
Homeowner Stories I Waited for Property Prices to Drop — and Ended Up Paying More
Homeowner Stories I Transformed My Two-Bedroom Unit Into A Dual-Key Layout – Here’s Why I Would Not Do It Again
Homeowner Stories We Could’ve Sold Our Home for More, But We Didn’t — Here’s Why We Let It Go in Just 24 Hours
Latest Posts
Property Market Commentary Which HDB Towns Are Getting Close To Condo Prices In 2025?
Editor's Pick This New Upper Bukit Timah Condo Starts From $993K: But Would You Trade MRT Convenience for Greenery?
Pro We Compared Old vs New Condos in One of Singapore’s Fastest-Changing Neighbourhoods — Here’s What We Found Out
On The Market We Found 5 Freehold 1-Bedroom Condos Under $1 Million With The Most Efficient Layouts
Editor's Pick I Toured A Rare Quiet Yet Central Freehold Landed Enclave Where Houses Sell For $12 Million
Singapore Property News The Hidden Price of Upgrading To A Condo In Singapore: What Most Buyers Don’t Budget For
Editor's Pick W Residences Marina View – Singapore Condo Review: A Luxury Condo Above A 5-Star Hotel From $1.77m
On The Market We Found 5 Spacious HDB Flats Above 1,300 Sqft You Can Still Buy Under $600K
Pro We Compared Old vs New Condos in One of Singapore’s Priciest Family Neighbourhoods: Here’s What We Found For Family-Sized Units in District 21
Property Market Commentary Why Singapore Homes Feel So Unaffordable (Even If Incomes Have Risen)
Property Investment Insights Which Condos Made the Biggest Profits in 2025? One Owner Earned $3.8M in Just 5 Years
Editor's Pick Why Older Freehold Condos Are Struggling to Go En-Bloc in 2025
Pro Are Older One- and Two-Bedders in District 21 Holding Up Against the New Launches? We Break It Down
Property Advice Most New Condo Buyers in Singapore Forget to Check This Before Buying (Until It’s Too Late)
Singapore Property News Why This Rare New Queenstown Condo Nearly Sold Out Even At $2,800 Psf