I know times has changed, people's thinking also changed but just to share my experience with the youngsters. Buy within your means and if you want the flat fast, don't be choosy.
I got my 1st HDB flat after 4 years of waiting and that was a rejected flat (surprisingly it was Bishan, no MRT, no market and only 1 or 2 bus services at that time). While waiting for the flat, I rented a small bedroom from my sister's 3 room HDB flat. Then about 5 yrs later, I applied for an Executive flat but no news till about another 5 yrs later, I was invited to choose the EC which the govt had just started to launch. Mine was on the 3rd or 4th batch. At that time, I had to pay 25% levy on the sale price of my HDB flat because that was considered as a 2nd timer purchase. No choice, because I couldn't afford the pte condo. Currently, I manage to purchase another apartment for investment and that was 12 yrs later of staying in my current EC. I know some of them might say that by then, they are too old already but at least you don't get yourself into unnecessary debt, so the same advise, buy within your means.