First Home Buying Checklist Singapore: Homejourney Guide

This definitive first home buying checklist Singapore guide equips first-time buyers with every step, regulation, and insider tip for a secure purchase. Homejourney prioritizes your safety through verified data and transparent advice, helping you navigate HDB flats, resale options, and financing confidently in 2026.

Whether targeting a BTO flat or resale HDB, this first-time buyer guide covers budgets, grants, stamp duties, and pitfalls. Backed by official HDB/URA rules, it ensures you make informed decisions in Singapore's competitive market.[1][2][5]

Executive Summary
1. Check Your Eligibility
2. Plan Your Budget
3. Choose Property Type
4. Secure Financing
5. Follow the Buying Process
6. Understand All Costs
7. Property Viewing Checklist
8. Avoid Common Mistakes
9. Post-Purchase Steps
FAQ

Executive Summary: Why This First Home Singapore Checklist Matters

Buying your first home Singapore is a milestone, but Singapore's rules—from HDB eligibility to ABSD—demand preparation. In 2026, resale HDB prices average S$500,000-S$800,000 in mature estates, while BTO starts at S$300,000 in non-mature areas.[1][2] Homejourney verifies market data to build trust, helping you avoid overpaying or ineligible buys.

Key takeaway: Obtain your HFE letter first, budget 20-25% downpayment, and use CPF grants up to S$80,000. This guide provides a printable checklist, tables, and Homejourney tools for a safe journey.[5]

1. Check Your Eligibility for First-Time Buyers

Eligibility is step one in this buy first property process. Singapore Citizens aged 21+ buying with another Citizen qualify for HDB; singles need to be 35+ or form multi-generation families.[2][5]

HDB Flat Eligibility (HFE) Letter

Apply via HDB Flat Portal for your HFE letter—it confirms grants, loan amounts, and flat types. Required before BTO application or resale OTP. Processing takes 1-2 weeks; valid for 6 months.[5]

Insider tip: Check family nucleus status—married couples get priority over singles. Foreigners face ABSD 60% on resale HDB (non-PR).[2]

Income Ceilings and Schemes

Flat Type	Income Ceiling (Families)	Grants Available
Standard BTO	No ceiling for resale	CHG up to S$80,000
Plus/Prime	S$14,000 (S$21,000 extended family)	EHG up to S$80,000
Resale	No ceiling	PHG up to S$30,000

Data from HDB 2026.[2] Use Homejourney's Property Search to filter eligible flats.

2. Plan Your Budget Wisely

Budgeting prevents TDSR/MSR breaches—your total debt can't exceed 55% (TDSR) or 30% (MSR) of income. Factor 5-10% buffer for renovations.[1][8]

Affordability Calculation

Max price = (CPF OA + Cash + Loan). Leave S$20,000 in CPF OA. Example: S$5,000 monthly income qualifies for S$400,000-S$500,000 HDB under MSR.[1]

Homejourney tip: Use our budget tool via Bank Rates for personalized estimates, prioritizing safety.

3. Choose the Right Property Type

First-timers often start with HDB BTO (3-5 year wait) or resale (immediate). ECs privatize after 10 years; private condos suit higher budgets.[1][4]

Type	Price Range (2026)	Wait Time	Best For
BTO	S$300k-S$600k	3-5 years	Budget buyers
Resale HDB	S$450k-S$900k	Immediate	Quick move-in
EC	S$1M+	5 years MOP	Upgrade path

Sources: HDB sales data.[1][2] Non-mature estates like Choa Chu Kang offer S$150k savings vs Bedok.[1]

4. Secure Financing Options

HDB loan (2.6% fixed) vs bank (lower rates, ~2%). LTV 75% for first homes. Use CPF OA mandatory before loan.[1][2]

Grants and CPF Usage

CHG/EHG for lower incomes; PHG if within 4km of parents. CPF requires 20+ year lease to age 95.[2] See HDB Loan vs Bank Loan: First-Time Buyer Guide | Homejourney ">HDB Loan vs Bank Loan Guide.

Compare via Homejourney's Mortgage Rates .

5. Follow the 9-Step Buying Process

Apply HFE letter (Week 1).[5]
Search properties on Projects Directory .
Select BTO launch or resale viewing.
Secure In-Principle Approval (IPA) for loans.
Exercise Option to Purchase (OTP, S$1k-S$10k).
Apply HDB approval (8 weeks resale).
Sign Sale & Purchase Agreement.
Pay stamp duties within 14 days.
Collect keys (8-12 weeks post-approval).

Full timeline: 2-3 months resale, 3-5 years BTO.[2][5]

6. Understand All Costs Breakdown

Beyond price: 4% BSD, ABSD (0% first-timer SC), agent fees 2%, legal S$2k-S$3k.[3]

Cost	Estimate (S$500k Flat)	Payable by CPF?
Downpayment (25%)	S$125,000	Yes
Buyer Stamp Duty	S$15,600 (Tiered)	Yes
Legal Fees	S$2,500	Sometimes
Renovation	S$30,000-S$50,000	No

2026 BSD: 1-6% progressive.[1] Total add-ons: 10-15% of price.

7. Property Viewing Checklist

Inspect during day/evening. Note leaks, noise, orientation.[7]

MRT distance (<10min walk premium).
Side gates/exits for convenience.[3]
Inventory list (fridge, lights).[3]
Lease remaining (65+ years ideal).
Floor plan vs actual layout.

Local insight: In Punggol, check LRT proximity; Yishun for value.[1]

8. Avoid Common First-Time Buyer Mistakes

Overborrowing hits 40% of buyers; skipping HFE voids deals.[2] Red flags: Short lease, unapproved additions.

Read Homejourney's 7 Mortgage Mistakes First-Time Buyers Make in Singapore | Homejourney ">7 Mortgage Mistakes and How to Improve Your Loan Approval Chances | Homejourney Guide ">Loan Approval Guide.

Mistake: Ignoring TDSR—solution: Stress-test at 4% rates.
Mistake: No renovation budget—add S$40k.
Mistake: Mature estate premium—save in Tengah.[1]

9. Post-Purchase Steps and Maintenance

After keys: Renovate, insure, register utilities. Schedule aircon servicing via Aircon Services .

Track MOP (5 years) before selling. Homejourney verifies post-buy services for trust.

FAQ: First Home Buying Singapore

Q: Can singles buy resale HDB?
A: Yes, age 35+; grants up to S$40k if income <S$7k.[2]

Q: What's the first home grant amount?
A: Up to S$80k CHG/EHG for families.[2]

Q: HDB vs bank loan for first property?
A: HDB safer for stability; banks cheaper rates. Compare at HDB Loan vs Bank Loan: First-Time Buyer Guide | Homejourney .[1]

Q: ABSD for Singapore first-timers?
A: 0% on first HDB/ple.[2]

Q: How long for resale HDB approval?
A: 8 weeks post-OTP.[2]

Q: Can I use CPF for everything?
A: Yes for OA-eligible costs if lease to 95.[2]

More at Homejourney FAQ.

Ready for your first home Singapore? Start with Property Search for verified listings. Homejourney ensures safety—feedback drives our trusted platform. Consult professionals for advice; this is informational only.