Quick Answer: Should I Buy Condo Or HDB?

How can I buy a condo without selling HDB?

Hence, to buy a $1.2 million condo without selling your HDB flat, you would need at least 17% (5% down + 12% ABSD) in cash, which is $204,000.

And if you don’t have enough CPF to cover the other 20% plus $38,600 Buyer Stamp Duty (BSD), you would need another $278,600 of cash..

Can we buy condo with CPF?

The CPF OA is intended to be used to partly fund your home purchase, so there’s really nothing wrong in using CPF to buy a condo or an HDB flat.

Is it better to buy HDB or condo?

And when it comes down to it, HDBs can have far better rental yield compared to their condo counterparts, simply by virtue of how affordable they are. (Note: This depends on the rental income generated as well. Condos do tend to generate higher rental income than flats, which can sometimes offset their higher costs.)

Is condo a good investment?

Yes, condos generally appreciate in value. That’s true of any piece of property—as long as it doesn’t have wheels or come from a trailer park. But, if you’re trying to decide between a condo or a house, keep in mind that a single-family home is usually going to grow in value faster than a condo will.

What is the cheapest condo in Singapore?

Top 10 Cheapest Condos in Singapore 2019The Hillford. The Hillford is a condominium located at Jalan Jurong Kechil in District 21. … Le Regal. … Prestige Heights. … High Park Residences. … Peoples Park Complex. … Parc Rosewood. … Palm Isles. … Eastwood Regency.More items…•

Is it worth buying a 1 bedroom condo?

“The only reason one-bedroom condos may be harder to sell is you limit your buyer pool. You will unlikely have a three-person family buy that unit,” he says. The best place to buy and sell a one-bedroom unit is an urban area, Sheldon says, where there are more people looking at smaller spaces.

Is it better to buy or rent a condo?

Condo Ownership: Here are the most The most significant difference between condo and apartment living is ownership. … As opposed to apartments where your rent goes to your landlord, buying and paying off a condo is a form of investing in yourself. Ownership presents individuals with many benefits that renting doesn’t.

How much do I need to buy a condo in Singapore?

Total initial cost required3-Room HDB BTO flat2-Bedroom private condominiumSelling price$180,000$900,000Loan amount$162,000 (assuming HDB Concessionary Loan and 90% LTV)$675,000 (private bank loan at 75% LTV)Cash and CPF downpayment$18,000$225,000Legal fees$181.45$1,5007 more rows•Dec 2, 2020

How much is condo maintenance fee in Singapore?

In general, the service charge of a private condo can range from $300 to $700 per month.

Can condo owners buy HDB?

Only Singapore Citizens have the privilege of owning an HDB flat and private condo at the same time. … They also can’t do it the other way, which is buy a private housing first then an HDB flat, as they need to sell the private property after completing their purchase of an HDB unit.

Can I rent out my HDB and stay in condo?

If you own a HDB and a condo, you can rent out either one or stay in both properties.

Is it hard to sell condos?

Condos are a great choice for those who want to start building equity in a home that doesn’t require a lot of maintenance. Despite what many think, they do increase in value, and you’re not likely to have a hard time selling your condo when you decide it’s time to move on.

Is it worth to buy a condo in Singapore?

There’s no right or wrong to buying a condo in Singapore as long as you’re not taking on excessive debt to do so. The value is always in the eye of the beholder, but having a level-headed approach will definitely benefit you for the long term. After all, buying a property is no small matter.

Why buying a condo is a bad idea?

Owning a condo harbors more financial obligation than single family homes and gives you more uncertainty when it comes to estimating unexpected expenses that you might incur. The best rule is to always overestimate your expenses when buying a condo for investment.

What is the disadvantage of buying a condo?

Perhaps the biggest disadvantage, and the most common misconception, of condo ownership, are the monthly fees that you’re subjected to. Known as condo fees or maintenance fees, these costs are payable each and every month to the condo board.