You cant be serious or did you just answer yourself? You relied on the advise of a total stranger (faceless and anonymous at that) and made your decision. A decision that will cost you >$1m and tie you and spouse down for what, 25 years?

If you had asked more generic questions like the trend for property prices in Singapore over the long term, the trend of loan interest rates, and property demand and supply etc. It would be understandable.

Questions on regarding affordability is best answered by yourself. The amount you can afford, and your current and future needs, job security, emergency funds are all things only you and your spouse would know best.

Having said that, moving onto a condo is a natural progression and manifestation of upward mobility. 40s is not old, not young. For us, we moved into a condo when we were 50, a little late, but it was one of the best decisions we made. We were not after the status of living in a condo, but what impressed us and helped make up our minds was the landscaping, the quiet and exclusive ambiance, the ample car park space, the security and convenience of having a myriad of facilities at our door step. We are certainly more physically active now, and contented.

Being able to fully pay up for the condo clinched it for us. No need to ask anybody.