Public housing blocks in HDB estate

Thinking of buying a resale flat, but not sure what to look out for? Here are the 3Ls to consider when looking at potential resale flats – location, lease and layout.

1. Location

One of the advantages of purchasing a resale flat is the variety of HDB flats available on the open market. How then do you choose the location that suits you best?

For a start, it might be useful to think about what is important to you and your lifestyle. If you love being close to nature, you might want to look for a flat located near a park, for instance. If you have school-going kids, you may need to check out nearby schools. If living near your parents or in-laws is important, consider looking at resale flats near them. For this, you may also want to check if your potential home would qualify you for a Proximity Housing Grant.

Transport options are also important to consider. While living near an interchange, main road or major transport node would bring convenience, fringe neighbourhoods provide respite from the hustle and bustle.

2. Lease Length

Unlike BTO flats, resale flats sold on the open market come with varied leases. This is important to consider since the length of lease remaining on the flat would impact the amount of CPF money you can tap on to finance your flat purchase. It can also impact the Enhanced Housing Grant amount you can enjoy (if eligible). Both the CPF usage limit and the grant amount will be pro-rated based on the extent the remaining lease of the flat can cover the youngest buyer up to the age of 95.

Don’t worry if that sounds like too much math for you – the budget calculator on the HDB Flat Portal is a great resource to consider when purchasing a resale flat.

3. Layout

Finally, resale flats come in a variety of layouts, so it can be daunting to evaluate all the options. Again, ask yourself – what fits your lifestyle? If you’re a family with kids, you may prefer a bigger flat, but if you’re a senior looking for a comfortable place to retire,  consider cosy spaces that are easier to maintain.

For more details, refer to our guide on purchasing a resale flat here.

  • Wong Li Ying

    Social media nerd who dabbles in writing, design, and photography. Spends an embarrassing amount of time on the internet, thinking too much about pop culture.

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