Probable Completion Date for BTO

[startallover]

Hi all,

I booked a Tengah 2-rm BTO under singles scheme in Nov 2018. The HDB portal tells me my Probable Completion Date is 2nd quarter 2023. It used to be 2022 but they moved it after COVID.

However many friends and family used to tell me (before COVID) that you will always receive your keys earlier. So they said if my PCD were to say 2nd Quarter 2023, I can expect to take keys by late 2022 maybe. But now that COVID is here, I dunno if this is true anymore?

I need the flat urgently cos one of my very good friends is divorcing from his wife and has nowhere to stay, and he can't afford to rent. He can't stay with me either cos I'm still staying with parents. I had originally intended to stay the 2-rm BTO by myself, but now that he's in this situation, I'd rather give him to stay. I can still continue to stay with parents cos the relationship is still good.

Please advise, thank you! If it's likely I have to wait until 2023, I might as well cancel, wait one year and buy resale next year.

 

[hacktic]

why has the responsibility of housing your good friend shifted to you?
you bought the BTO for yourself. not him.

Anyway, dates are not fixed. but judging from the current situation, yes, dates would most probably be shifted backwards unless there are more significant advancements in PPVCs.

 

[dilphinus]

Hi all,

I booked a Tengah 2-rm BTO under singles scheme in Nov 2018. The HDB portal tells me my Probable Completion Date is 2nd quarter 2023. It used to be 2022 but they moved it after COVID.

However many friends and family used to tell me (before COVID) that you will always receive your keys earlier. So they said if my PCD were to say 2nd Quarter 2023, I can expect to take keys by late 2022 maybe. But now that COVID is here, I dunno if this is true anymore?

I need the flat urgently cos one of my very good friends is divorcing from his wife and has nowhere to stay, and he can't afford to rent. He can't stay with me either cos I'm still staying with parents. I had originally intended to stay the 2-rm BTO by myself, but now that he's in this situation, I'd rather give him to stay. I can still continue to stay with parents cos the relationship is still good.

Please advise, thank you! If it's likely I have to wait until 2023, I might as well cancel, wait one year and buy resale next year.

What's your rationale for cancelling and buying a resale? Just for your friend? If that's the case, it's a dumb move. You got subsidized housing and is in no rush to move. Yet you want to go get resale housing. Too much money? Have you any idea how much the resale flats are asking now?

Also, have you checked the penalties for cancelling the BTO? The govt initiative for those to cancel without penalties are for young couples, not for singles. It is not by default without penalties. If you want to cancel, the HDB will consider each case depending on the individual circumstances

Why don't you just give money to your friend to rent? It's a probable better financial deal than to give up the BTO and getting the resale.

 

[halfnode]

Hi all,

I booked a Tengah 2-rm BTO under singles scheme in Nov 2018. The HDB portal tells me my Probable Completion Date is 2nd quarter 2023. It used to be 2022 but they moved it after COVID.

However many friends and family used to tell me (before COVID) that you will always receive your keys earlier. So they said if my PCD were to say 2nd Quarter 2023, I can expect to take keys by late 2022 maybe. But now that COVID is here, I dunno if this is true anymore?

I need the flat urgently cos one of my very good friends is divorcing from his wife and has nowhere to stay, and he can't afford to rent. He can't stay with me either cos I'm still staying with parents. I had originally intended to stay the 2-rm BTO by myself, but now that he's in this situation, I'd rather give him to stay. I can still continue to stay with parents cos the relationship is still good.

Please advise, thank you! If it's likely I have to wait until 2023, I might as well cancel, wait one year and buy resale next year.

The worst move you can do is this. Don't do it.

 

[startallover]

Honestly I've known this guy for like 25 years, he's like my own brother. When I was fired from my job, kicked out from my parent's house and almost went to jail, he was there for me. Gave me food and money and a place to stay. Now I want to repay the favour.

I realise my initial post was misleading. I already was thinking of getting resale before my friend had problems cos I wanted a bigger flat, and I didn't want to wait so long. But you guys are right, it's a stupid move. I'll just wait and suck thumb

 

[hacktic]

time-lines seem to be going 6-7 years for newer BTO launches.
you already waited 3 years and just need to wait out another 2years.
Are you OK to forfeit around 5k? If it's not your "1st few choice" select unit, by all means. HDB will just go ka-ching! Thank You and open it to NEXT SBF!

And you gotta wait out another year before you get to buy subsidized resale. GL!