For the love of BTO
Should young couples buy a HDB flat before getting engaged?
It seems applications for built-to order (BTO) flats have replaced engagement rings. In a trend unique to Singapore, it has become increasingly common for couples to apply for a flat, long before getting engaged.
What’s going on?
“In addition, because of the subsidies given, less cash is needed for the transaction. This cash can go towards wedding preparations or renovations instead. Most importantly, BTO flats are newer in condition and nothing beats being the first owner of the unit.”
However, others expressed concern of the possibly of couples going their separate ways after the first flushes of romance fade. When that happens, there are consequences to face.
Depending on the size of the flat, couples can lose anything between $10,000 and $25,000 if they break up, leading some to feel pressured to marry for the sake of the flat.
Some also feel that the romance of a marriage proposal and planning for marriage is lost when a couple chooses to apply for a flat first.
Nicky Yong, a 23-year-old student in NUS, explained: “How exciting and romantic can a relationship be when all the couple can think about is earning money and saving up for a BTO? Maybe it would be better to think of BTO after marriage when the ‘honeymoon period’ of dating is over and the couple is more committed to building a life together.”
What’s your take?
1. Would you apply for a BTO flat with your significant other before marriage? Why?