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