So your five year Minimum Occupation Period (MOP) is up, and you know what the whole internet screams at you to do: upgrade! Sell one, buy two! Buy a prime district condo, it’s more affordable than you think! Etc.

Except at this point, you’ve already felt the weight of a home loan for five years; switching to a private property means taking on an even bigger mortgage, with issues like maintenance fees to boot. So for most people, the thought that creeps into their mind is: why not just buy a bigger resale flat? 

Why not upgrade from, say, a three or four-room flat to just a five-room resale flat? You’ll still get more space, and it’s a lot better for your pocket. The right answer varies between individuals, but here’s a clearer breakdown of the costs and advantages (as well as drawbacks):

What to consider when choosing between a

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