Thinking of upgrading from your HDB flat to a condo?
Wondering if it is possible?
Source: SpongeBob SquarePants | Giphy
Actually, it’s not as hard as you think…
I’m talking about the math part tho.
(Aside: the money part is highly subjective.)
You just need to figure out what are the estimated sale proceeds from selling your HDB flat.
And then do a little math to find out if you can afford the condo.
Don’t know where to start?
That’s why I’m here for you, bruv.
FYI: I’m aware that there is the possibility of keeping your HDB flat AND buying a condo, but that’s another article for another time…
TL;DR: Can I Afford To Sell My HDB Flat and Upgrade To a Condo?
To calculate Estimated Sale Proceeds:
Sales price of HDB flat – Outstanding mortgage loan – Mortgage loan prepayment penalty – Legal fees – Property agent commission