Should I buy a resale HDB or Condo?

should i buy a resale hdb or condo

“Should I buy a resale HDB or Condo?”

If this is a question that you have been pondering on, well, you have come to the right place.

Singapore’s real estate market offers many options for individuals seeking to purchase a property. Among the most popular choices are resale Housing and Development Board (HDB) flats and condos, both of which come with their own set of advantages and considerations. Whether you’re a first-time homebuyer or a seasoned investor, deciding between a resale HDB and a condo can be a daunting task. The decision you make will not only impact your lifestyle but also your financial future.

In this article, we will delve into the intricacies of choosing between a resale HDB and condo in Singapore. We’ll carefully evaluate the pros and cons of each option, taking into account factors such as affordability, amenities, investment potential, and long-term value.

By the end of this comprehensive analysis, you will have a clearer understanding of which property type aligns with your goals and aspirations. While both resale HDBs and condominiums have their merits, we will ultimately recommend why, in many cases, investing in a condo may be the more advantageous choice for individuals seeking a secure and rewarding real estate investment journey in Singapore.

Pros and cons of Resale HDB and Condo

FactorResale HDBCondo
AffordabilityPros: Lower purchase price and monthly costs.Pros: Potential for higher appreciation and resale value.
Cons: Limited financing options for HDBs.Cons: Generally higher upfront costs and monthly maintenance fees.
AmenitiesPros: Some HDB estates offer basic amenities.Pros: Extensive facilities (pools, gyms, security, etc.) often available.
Cons: Limited in-unit amenities.Cons: Monthly maintenance fees to cover amenities.
SpacePros: Larger living spaces in some cases.Pros: Generally smaller living spaces but well-designed layouts.
Cons: Limited customizability.Cons: Limited customizability.
Investment PotentialPros: Potential government upgrading plans.Pros: Higher potential for capital appreciation.
Pros: Lower initial investment.Cons: Market volatility can affect returns.
Cons: Limited rental and subletting options.Cons: Higher property taxes.
Ownership DurationCons: Limited ownership duration of up to 99 years.Pros: Often freehold or longer leasehold.
Cons: Higher purchase price for freehold condos.
Resale RestrictionsPros: Restrictions on resale price to ensure affordability.Pros: No resale restrictions.
Cons: Seller may face limitations on resale.Cons: Subject to market conditions.

Cheap Condos with high investment potential that you can consider over a resale HDB

If budget is your main limitation when it comes to your decision between a condo or a resale HDB, here are some new condo launches that is not only affordable but also has great investment potential. While they may be slightly more pricey than a resale HDB, the return on investment are expected to be larger. You can also consider an EC instead, which would be a good inbetween of a condo and resale HDB.

[reblex id=’21344′]

Read: Can I buy EC after selling private property?

Conclusion: Should I buy A Resale HDB or Condo?

Condos in Singapore emerge as the favourable choice when considering the array of pros and cons compared to resale Housing and Development Board (HDB) flats. While both options have their merits, condos stand out as the superior choice for several compelling reasons:

Investment Potential: Condos offer a more promising investment opportunity. They tend to have higher potential for capital appreciation compared to HDBs, making them a preferred choice for investors looking to build wealth through real estate. With condos, the potential for long-term financial growth often outweighs the initial higher upfront costs and monthly maintenance fees.

Amenities: Condos provide residents with an unparalleled level of luxury and convenience. From swimming pools and fitness centers to round-the-clock security, condos offer an extensive range of amenities that contribute to a superior quality of life. While some HDB estates do offer basic amenities, condos take it to the next level, enhancing your overall living experience.

Ownership Duration: For home-owners who want to have a longer period of ownership over their property, they can choose to purchase freehold condos that grants owners more extended periods of ownership compared to HDB flats, which only have 99-year leaseholds. This longer ownership duration can provide peace of mind and potentially increase the property’s long-term value.

Resale Flexibility: Condos have no restrictions on resale prices, providing owners with the freedom to capitalise on market conditions. In contrast, HDB resale prices are subject to government regulations, which can limit potential gains. This flexibility can be especially advantageous when you decide to sell or upgrade your property.

Customisation: Condos, although generally smaller than HDB flats, often come with well-designed layouts that maximize space usage. Plus, owners have more freedom to customise their units, allowing them to create their dream living spaces.

In conclusion, while resale HDB flats have their own set of advantages, condos in Singapore outshine them in several critical aspects. From investment potential and luxurious amenities to longer ownership duration and resale flexibility, condos offer a more promising and rewarding real estate investment journey.

If you’re looking for a property that not only meets your immediate needs but also secures your financial future, opting for a condo is the choice that aligns most closely with your goals and aspirations in the dynamic Singaporean property market.

Compare listings