If have the money to downpay the house, but cashflow is tight due to the mortgage loan. Should we still upgrade from HDB to condo? Currently in late 30s with 2 kids.

55% TDSR for home loan purpose.
if u include CPF OA (23% of your income), its gonna be lower from your take-home pay.

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Always try to aim for

i) 12- 24months of mortgage repayment as emergency.

• In case u need to exit and avoid the SSD.

ii) 6-12mths of expenses emergency fund

• I will say this in 100% required since u have 2 kids.
• There is always a time for upgrade

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Realtor here. Hard to advise without knowing more. Also need to look at how much you have left after downpayment. Ideally you need to cater enough buffer just in case anything happens. Furthermore you have kids, the buffer is even more important in this situation.

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The fundamental is to never over stretch yourself. Make sure you have good exit plans in case of emergencies.

I heard some condo maintenance fees can be expensive.

Ok