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Is 2023 The Worst Or The Best Time To Upgrade From Your HDB?

Updated: Jan 31

As Singaporeans, we are all familiar with the housing ladder, which begins with a HDB flat and progresses to a private condo. But when is the best time to take the plunge?

First and foremost, consider your financial situation. Upgrading to a private condo is a big financial step, and you must have enough savings and income to cover the down payment and monthly mortgage payments. If you are upgrading from a HDB flat to a private condo, you should also take into account the resale levy, which is an additional cost imposed on buyers who sell their public housing flat and purchase another subsidised flat within a certain time frame.

Another thing to think about is your way of life. Private condos have things like swimming pools, fitness centers, and concierge services that you can't get in an HDB flat. A private condo may be the best option for you if you want luxury amenities and the convenience of having everything at your fingertips.

Your family situation is also significant. A private condo may be a better option if you have a growing family and require more space. Many private condos have larger units with more bedrooms and bathrooms, as well as private outdoor spaces like balconies or gardens.

Finally, take into account the location. A private condo may be the way to go if you're looking for a property in a prime location. Private condos are usually in wealthier areas, close to shopping centers, restaurants, and other amenities.

As a hdb upgrader planning to sell your hdb to upgrade to a condo, it is important to understand what factors to consider when buying a private condo that most real estate agents may not mention.

There is no one-size-fits-all answer to the question of when is the best time to move up to a private condo. You should think about your finances, your lifestyle, your family, and where you live. Consider the benefits and drawbacks of various properties. If you're ready to take the plunge, upgrading from hdb to a private condo can be an excellent investment as well as a wonderful place to live.

It's important to note that upgrading to a private condo is a big decision that should not be taken lightly, and there are a lot of things to think about before making the leap. Before making a choice, it's important to do a lot of research, think about all of your options, and, if necessary, talk to a Singapore real estate agent.


Get in touch with JJ Wong an HDB upgrader agent who knows the market inside and out! HDB upgrader Agent that knows in and out of the market!

If you have a plan in mind but not sure if it works well – do share with me or let me know.

I will do my best to assist you to make sure you look at your plan from multiple angles and ensure you have a very clear picture on what’s going on.

Drop me a HI! in whatsapp and share with me your top most concern in the property upgrading journey.


JJ Wong is the founder of and has been a Property Wealth Planner in the real estate market for the past 6 years. He has helped many clients achieve their aspirations with the right financial planning and sound timeline planning. He is the man behind upgrading case studies of those who are holding on property under 10 years.

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