Can I Afford to Upgrade From HDB to Condo?

Upgrading is a maths exercise before it is a property search.

Step one: estimated sale proceeds Sale price, less outstanding loan, less CPF principal and accrued interest that must be refunded, less selling costs. What remains is your working capital.

Step two: your loan capacity Your loan is limited by both TDSR and the loan-to-value ratio for your situation. Income, age, tenure and existing commitments all matter.

Step three: the cash you actually need Condominium purchases require a minimum cash component plus stamp duty, legal fees and, depending on your sequencing, possible ABSD that may be remissible.

Step four: the ongoing cost Monthly instalment, maintenance fees and property tax should sit comfortably within your household budget — not at its edge.

Use the affordability calculator to sketch the range, then have the numbers checked properly.