Congrats! Many people are doing the same thing. Cheap BTO flats allow many families to upgrade to condos. Some even use part of the cash profit from selling their flat for 50% downpayment to buy a new car. Most families staying in condos own cars.
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Originally Posted by Unregistered
40/41, HH income $11,500 pm. Sold our HDB flat for $500k (bought at $200k many years ago and fully paid up). We used the $500k sales proceeds to buy a $860k condo in the OCR. Took a mortgage loan of $380k. Spent about $70k (from our cash savings) to renovate the resale condo.
You don't need a HH income of $19,000 pm to live in a condo. As long as you bought a cheap BTO flat, you can flip it and upgrade to a condo. We enjoy the peace, security, facilities and prestige that a condo offers. We are happy with our upgrade. |