Sell HDB Buy Condo? Upgrading to Resale Condo | New Condo?

Financial planning and budgeting for the upgrade :

Before Sell HDB Buy Condo, it’s crucial to have a solid financial plan in place. This includes assessing your current financial health, understanding the full cost of purchasing a condo (including hidden costs like maintenance fees, renovation expenses, and property taxes), and planning for ongoing mortgage payments. It’s also important to consider how this upgrade aligns with your long-term financial goals, such as retirement planning or education funds for children.

A comprehensive budget plan will help ensure that your dream condo is a wise financial decision, not just an emotional one. Consulting with a financial advisor or using online financial planning tools can provide valuable guidance in this process.

Reasons for upgrading to executive condominium upgrading to resale condo :

Better location. Upgrading might move you or your spouse closer to your workplaces, reducing the travelling distance and time.

Schools, and Educational Institutions :  Suppose you’re eyeing a specific primary school. Moving lets you choose properties within a 1km radius of your choice school for your child. 

Free from HDB’s rules. Some set HDB rules include having to wait out your Minimum Occupation Period (MOP). You’re also free to keep as many pets as you want, unlike HDB’s ‘one-approved-dog’ per household rule. 

Ethnic Integration Policy (EIP) isn’t imposed on private properties. Should you choose to sell your condo in future, your pool of buyers won’t be limited to buyers of a specific race.

Condo amenities. Maybe you’re a gym buff who likes swimming laps or hitting the weights multiple times a day. With both the pool and the gym just a stone’s throw from your doorstep, you can do just that.

Condos are stepping up their amenity game, with some featuring swanky facilities such as karaoke rooms, a bowling alley and even an ice therapy room. 

Asset progression. If you’re upgrading to an executive condo (EC) with a freshly completed MOP of five years, you can find yourself in an immediately advantageous position. 

This is because the EC is already halfway to privatisation. In another five years, you’ll be able to sell it to foreigners or companies. Being able to do so opens up a whole pool of prospective buyers, and with condo demand and prices rising over the years, you’re almost always guaranteed a profit. 

Have plans to buy a new condo in Singapore? Look no further than our website for information on all new condo launches. Call us today! 

https://singproperty.sg/category/new-projects/