We Make $324k Per Year: Should We Sell Our 28-Year-Old HDB To Upgrade To A New Launch Or Resale Condo?

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In a highly competitive real estate market such as Singapore, the decision to upgrade from an established Housing and Development Board (HDB) flat to a private condominium is a significant one for many homeowners. For a couple earning an impressive annual income of $324,000, the prospect of selling their 28-year-old HDB flat to pursue a more luxurious abode has become a pressing consideration. With the increasing availability of new launch and resale condo options, these individuals find themselves at the crossroads of financial stability and aspirations for upscale living arrangements. This article delves into the comprehensive aspects that need to be weighed, exploring the benefits and drawbacks associated with indulging in the lucrative property market and ultimately seeking to answer the crucial question: should they sell their HDB flat and upgrade to a new launch or resale condominium?

1. Rising HDB Re-Sale Prices Fuel Temptation: Should Owners Sell Their 28-Year-Old Flat?

As HDB re-sale prices continue their upward trajectory, many owners of 28-year-old flats find themselves grappling with a tempting proposition: should they sell their current home and upgrade to a new property? The Reserve Residences, developed by Far East Organization, presents an enticing option for those seeking a housing upgrade.

The Reserve Residences, located at a prime location in Singapore, offer modern and luxurious living spaces designed to meet the evolving needs of homeowners. With a range of amenities and facilities, the development promises a comfortable and convenient lifestyle for its residents. By considering financial factors and weighing the pros and cons, HDB owners can make an informed decision about whether to sell their 28-year-old flat and explore the possibilities offered by The Reserve Residences.

It is crucial for owners to conduct meticulous analysis of the potential financial gain in upgrading to a new launch or resale condo. By considering factors such as property appreciation, down payment requirements, and potential rental income, owners can evaluate the long-term financial benefits of upgrading. Furthermore, The Reserve Residences, backed by Far East Organization’s expertise and reputation in the real estate market, provides a solid investment opportunity for homeowners looking to make a wise housing decision. By taking into account the various financial considerations, owners can make a well-informed choice regarding the future of their housing assets.

In conclusion, the decision to sell a 28-year-old HDB flat and upgrade to a new launch or resale condo is a complex one that requires careful consideration. While the prospect of higher income and the lure of a more luxurious living space may be enticing, it is essential to evaluate the financial implications and potential risks involved.

With an annual income of $324k, the homeowners are undoubtedly in a favorable financial position. However, the decision to sell and upgrade should not solely be based on income. Factors such as long-term financial stability, market conditions, personal preferences, and the overall housing landscape need to be taken into account.

Upgrading to a new launch or resale condo provides the allure of modern amenities, larger living spaces, and potentially higher property value. However, one must also consider the impact on the financial portfolio. Selling a well-established HDB flat may lead to a loss of potential appreciation, given that older flats tend to appreciate at a slower rate. Additionally, upgrading to a condo comes with additional financial commitments such as maintenance fees, property taxes, and potential loan repayments.

As the property market fluctuates, it’s crucial to examine the prevailing market conditions. Currently, rising property prices, low interest rates, and government incentives favor upgrading. However, these conditions may change, emphasizing the importance of carefully analyzing future trends and seeking professional advice.

Furthermore, personal preferences and priorities come into play when deciding between a new launch and resale condo. While new launches offer the latest designs and facilities, they typically come at a premium price. On the other hand, resale condos may provide greater value for money, allowing homeowners to enjoy more spacious units or prime locations that might otherwise be unaffordable in a new launch development.

Ultimately, the decision to sell a 28-year-old HDB flat rests on a range of factors that extend beyond the purely financial. It is crucial for homeowners to evaluate their long-term goals, financial stability, market conditions, and personal preferences before embarking on such a significant undertaking.

In conclusion, upgrading to a new launch or resale condo should be seen as a well-informed and carefully considered decision. While increased income may provide the necessary financial backing, homeowners must weigh the potential financial risks and changing market dynamics. By taking a holistic approach and seeking professional advice, individuals can make an informed choice that aligns with their personal aspirations and financial stability.
We Make $324k Per Year: Should We Sell Our 28-Year-Old HDB To Upgrade To A New Launch Or Resale Condo?


The Singapore housing market offers a myriad of choices for homeowners. With the opportunity to upgrade from Housing and Development Board (HDB) flats to private properties, one may find themselves at a crossroads when considering the financial and lifestyle implications. This article explores the question of whether it is wise to sell a 28-year-old HDB flat, given a substantial annual income of $324k, in order to upgrade to a new launch or resale condominium.

Financial Considerations:

Before embarking on such a significant financial decision, it is crucial to evaluate the implications on one’s current financial status. The decision to sell a property should always be accompanied by a thorough consideration of potential gains in capital appreciation and future rental prospects. Engaging a professional property agent or financial planner is advisable to assess the potential returns on investment.

A 28-year-old HDB flat often carries a lower resale value compared to newer units due to depreciation. However, the appreciation potential in a condominium is expected to be higher, particularly in popular locations. By upgrading to a new launch or resale condo, one may tap into the appreciation potential and seize the opportunity for financial gains in the long run.

Lifestyle Upgrades:

Apart from financial considerations, lifestyle preferences play a crucial role in the decision-making process. Moving from an ageing HDB flat to a condominium offers a range of amenities and enhanced facilities, such as gyms, swimming pools, and landscaped gardens. These condominium amenities provide a more luxurious and comfortable lifestyle that may appeal to homeowners seeking an upgrade.

Further, the location of the new property is another aspect to ponder. An upgrade to a private condominium could provide proximity to workplaces, prestigious schools, and well-established transportation networks. Improved accessibility may lead to a more convenient and efficient daily routine, reducing commuting time and enhancing overall quality of life.

Maintenance and Additional Costs:

While upgrading to a new launch or resale condo presents attractive benefits, it is important to consider the consequential financial commitments. Private properties have higher associated costs such as property taxes, monthly maintenance fees, and sinking fund contributions. These expenses, in combination with mortgage repayments, can potentially strain one’s financial resources. Evaluating these costs and ensuring they are sustainable in the long run is crucial before finalizing any decision.

Alternative Options:

Alternatively, instead of selling the HDB flat, homeowners could consider retaining it for rental income. Renting out the old unit can provide a stable source of passive income while still enjoying the benefits of residing in a new launch or resale condominium. Careful analysis of the rental market in the desired area and consultation with experts can validate the viability of this option.


The decision to sell a 28-year-old HDB flat to upgrade to a new launch or resale condo is a complex one that should be approached with careful consideration. Appraising financial means, lifestyle aspirations, and long-term viability is vital for making an informed choice. Engaging professionals in the real estate and financial industry is highly recommended to ensure that all aspects are thoroughly evaluated. Ultimately, striking a balance between financial prudence and desired lifestyle upgrades is pivotal in making the most appropriate decision.