Who else wants to Swap your HDB for Private Condo

Sell One Buy Two, Swap Your HDB for Two Condo?

But Is it a Scam???

Today I’m going to share about a recent experience that I had with my clients.

I met up with them to discuss the sales procedures of their house and of course how much it can be sold for.

She brought up one interesting doubt that I am excited to share with you guys.

Many of you would have come across the recent hot topic on “Sell One Buy Two” strategy to:

1. Upgrade to a condominium with Little or No Cash.
2. Own 2 Properties with the Same monthly installment that you are currently paying.
3. Create Spare Fund of up to $100k.

Swap HDB for Condo

Well, I will share with you how this actually works and whether it is feasible for you!

Watch on my impromptu sharing.


The Concept & Essense of Sell One Buy Two

It is usually suited for husband and wife who are the owners of the HDB flat.

Singaporean Couple own HDB

As you are not allowed to do “de-coupling” anymore since April 2016, and with the recent increase in Additional Buyer Stamp Duty (ABSD) from 7% to 12% of the purchase price since 6 July 2018 , most Singaporeans couldn’t afford to get a second property anymore leaving you with these 3 common options :

(1) Pay for ABSD and go ahead to buy your second property.

You can keep your HDB flat but you are sacrificing 12% of the condo price, which is a lot of money.  For example, if you’re buying a $1million property, that is a WHOPPING $120k of ABSD. It’s going to take years to recover this amount!!

(2) Live in the same HDB flat and put your condo dream on hold.

You can have a simple and less stressful life. Accepting the fact that your HDB flat will depreciate as the years go by and miss out the chance to gain profit or move forward.

(3) Sell your HDB flat now to free up your name in property ownership and then get one private property each.

My client chose the 3rd option as they felt it’s the most ideal one. They will get to enjoy the 10 benefits if you did it correctly which I will come to that later.

Here’s how it works:

Mr. & Mrs. Lim sold their 5 room flat for $500K. They are both now in their 40s.

They don’t have any outstanding loan, and their Cash and CPF Proceed is $100K and $400K respectively.

(Most of You still have Outstanding Loan, so not to worry, we can do a Free Instant Financial Assessment for You!)

Mr. Lim can now buy a nice 3 bedroom resale condo for own stay, good enough for them with their 2 children.

The condo cost him $1mil.

Husband Buy Condo

Mr.Lim is drawing $6,000 salary, he is able to get $750K loan, with a monthly installment of $3,200 for 25 years.

The downpayment for the condo is $250K plus stamp duty will be all in all $275K.

Using the HDB sales proceeds of $500k, they would still have $225k balance from the $275k downpayment plus stamp duty for their lovely 3 bedroom condo home.

Wife Buy Condo

Mrs. Lim will buy a 1 bedroom private condo for investment purpose, which will cost her $600K.

Mrs. Lim is getting $3,600 salary, she is able to get $450K loan, with a monthly installment of $1,900 for 25 years.

Her downpayment for the one bedroom will be $135K.

With the balance of $225k from the HDB sales proceeds, they will still have spare funds of $90K.

Now you may be asking, no need to pay for the installment mehhh???

The total installment for both properties will work out to be $5,100 ($3,200+$1,900).

While they are making $9,600 monthly, they are only drawing $7,680 monthly cash after CPF contribution.

However, the monthly CPF OA contribution is approximately $2,200, which can be used to lighten their monthly installment burden to $2,900. And with the one bedroom rented out at $1,900, they will only have to fork out $1,000 cash monthly, which is about the same rental amount of a HDB Master Bedroom.

See, the difference is:

If you stay put at the fully paid HDB flat, your advantage is you got no debt, no stress. But, your CPF will get locked when you turn 55.

But if you choose to “Sell One Buy Two”, you could have to pay just the price of a Master Bedroom monthly rental but ACTUALLY OWNING 2 private condos!

Now I know why there is an increase of more than 14,000 Singaporean between the age of 35 to 54, has become the private property owners as compared to last year! And the number is still counting!

At the end of the day, financial calculation, careful planning with an exit strategy and wealth management are crucial steps to achieving your dream lifestyle.

Arrange for a Free Discussion:


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    What You can expect for this meet up?

    • Assess in-depth financial calculation for you with the creative strategy to ensure stress-free monthly installments.
    • Analyze the available options for you in the market and spot the most profitable choice for you.
    • Personalize your short-term, mid-term and long-term property roadmap that will eventually achieve financial freedom.
    6 February 2023
    Stephen is very professional and trustworthy agent, he's very responsive and treat all customers with respect. He has put in a lot of effort in making sure my transaction is handled properly, on time and on top of priority. I have already recommended him to my friends that's interested in buying property. Thanks Stephen.
    Elwin840808 Elwin
    Elwin840808 Elwin
    16 January 2023
    Stephen really a good agent. I was new to home selling and have heard many about terrible agents. Stephen was professional and he never made me felt uncomfortable. He is professional, experienced and helpful agent. Highly recommend.
    Marchelina Vincensia
    Marchelina Vincensia
    17 August 2022
    I’ve met so many property agents in my life but Stephen is really a rare find. If you are looking for someone unconventional, who gives advice based on data and answer all your easy and hard questions tirelessly, then I couldn’t recommend Stephen more. A very hardworking, humble and strategic agent, highly recommend!
    Sei Chia Lau
    Sei Chia Lau
    4 August 2022
    Stephen is efficient, responsive and informative. He is able to give us useful advise and guide us patiently. Overall, his service is great👍
    Stanley Tan
    Stanley Tan
    26 June 2022
    Stephen is experienced, analytical and views properties comprehensively. This is evident right from the beginning when we chanced upon his informative YouTube videos. He provided us invaluable advice throughout the process of our property purchase. His calm, humble and polite nature made him an approachable professional to discuss the many questions we had. He was patient with his technical explanations as well as his insightful suggestions. He placed our interests first, in the buyers' shoes, gave us space to consider and has never rushed us to make decisions without proper considerations. His attentiveness goes a long way. Stephen carefully planned out the timeline for us and gave us reminders to complete the various items ahead of the deadlines to avoid unwanted hiccups. It was entirely a worry-free process. Stephen even gone the extra mile to meet us at the law firm to show us the way and be in person with us to sign the S&P. He made our property purchase a great buy and an enjoyable experience. Thank you, Stephen.
    Leo Lim
    Leo Lim
    21 March 2022
    I would like to send a note of commendation to Stephen Chong for his dedication, professionalism, diligence and patience in handling of property transaction. I would absolutely recommend Stephen Chong to buyers and sellers who are considering to buy or sell their homes.
    Lim Ming Hwee
    Lim Ming Hwee
    26 February 2022
    Stephen is a very good agent who goes beyond his way to ensure that his clients are happy. He is very patient and helpful, and will always give good advice.
    Joseph Sze
    Joseph Sze
    24 December 2021
    Stephen is a professional & responsible person who has provided good quality customer services to our recent Condo housing purchase & related matters. I found he has put in great efforts and gone for extre miles to assist us in the whole process and related purchase issues. Excellent work, Stephen!👍🏼👍🏼👍🏼
    SZ Lim
    SZ Lim
    20 July 2021
    Was going thru Stephen's video when I noticed he had a google review panel up. Going to copy paste my review on his FB page from 2019. I still stand by my review. Stephen was very professional throughout our engagement process. I first engaged Stephen as his effort could be seen thru the videos he made. The videos were informative, detailed, yet easy to understand from a beginners point of view. Could also see the improvement of his videos as time passes, and that speaks volumes about one's character on his eagerness to improve and share. During my engagement with him, Stephen was very professional. Since I was very new in the scene, I required alot of guidance and honesty. Stephen was very upfront with me on many items and did not try to hide any facts from me. As a first time buyer, both good and bad prospects were laid out after his detailed analysis on my current financial condition and also on the projects we went to see. Comparing to other agents who will just blab anything that benefits their sales point, Stephen was straightforward and truthful on the issue. I have met quite a few agents but would highly recommend Stephen to people who are looking for properties, be it looking for a place to stay, or looking for a property to invest.

    Sell One Buy Two, Swap Your HDB for Two Condo?
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