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Upgrading Scenario 

Selling HDB, buying a Private Condominium

Thinking of upgrading to a private condominium? Take a look at the example below, you may find this case study very similar to your situation!

Jason and Jenny is 43 years old.

They have stayed in their BTO 4 Room flat at Commonwealth for 10 years.

They wish to upgrade to a 3 Bedroom condominium around Hillview area which will cost approximately $1.5mil.


Their finances are:

Monthly Salary of $5k a month each

$200k Cash Savings

$100k CPF in both OA Account


Their HDB

Market Value: $750k 

Outstanding HDB Loan: $300k

CPF with accrued interest: $350k

Selling HDB 

Selling HDB.PNG


  • CPF with Accrued Interest goes back to CPF OA Account (which can be used to buy the next property)

  • Misc fees are fees such as moving fees.

  • Agent fees is 2%, which can be deducted  under Sales proceeds

Buying Private Property 

For buying their Private Property, Jason and Jenny plans to MAX out their CPF OA usage and use as little cash as possible 

Buying example.PNG

Things to take note!

  • Jason and Jenny have $450,000 for their CPF OA. $400,000 have been used for the down payment for their property. The other $50,000 have been use to offset the Stamp Fees and Legal Fees. (Only applicable to selling of property)

  • Interest of 2% is the average interest rate of 2019.

  • No agent fee is charge for buying private property. 

  • Maximum loan age is till 65 years old. As Jason and Jenny is 43 years old, they are only eligible to take a loan up to 22 years old. ( Ask me how to get a longer loan tenure)

For this case, Jason and Jenny do not require to dig into their savings when buying their next property as their HDB cash profits is enough to offset their next house down payment. This is one of the many secrets of how to upgrade with little to no down payment!

Timeline Management 


Feel free to call me if you have any questions. Every cases is different, a tailor made report will be given to assist you to make the best informed decision.

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