Early 50s couple, living in a paid up 20 year old 5 room HDB flat, worth $700k. We earn $140k pa salaries combined. Planning to sell our flat and buy a brand new (just TOP, fresh 99 year lease) 2 bedroom condo in the West region, next to a MRT station. One room for us and another for our daughter. Budget $1m. Will use the proceeds from sale of flat ($700k) plus our CPF and cash savings ($300k) to pay in full. We look forward to a more luxurious lifestyle. We will also stop owning a car as we can travel easily with the MRT. We will save $2k pm by not having a car. This will help us with our retirement savings.