facebookWould you get a resale over a private condo as a first home? What are some factors that you will look at in order to decide on your first home? - Seedly



09 Mar 2020


Would you get a resale over a private condo as a first home? What are some factors that you will look at in order to decide on your first home?

I happen to be someone who has been failing to obtain a queue number (most of the time no queue number) for all my past bto and sbf attempts with my fiancé. We are considering resale at a mature estate to live near family members for both sides, however the resale prices are crazy expensive. what would you do if you were us? What are the factors you would consider in getting your first home if you were in our situation?


Discussion (3)

What are your thoughts?

Zuhdy Farhan

Zuhdy Farhan

02 Mar 2019

Level 4·Real Estate at National University of Singapore


Generally, mature estate resale HDB flats are more expensive, that's why those who manage to get a BTO in these areas enjoy high capital appreciation.

Which mature estate in particular - Tampines/Toa Payoh/Ang Mo Kio? This is an important question to ask as there are new towns that are springing up and BTOs are coming fast, i.e. Bidadari, Whampoa and you should consider trying out at these areas if you have not done so.

If you plan to stay in the resale flat until the end then the only worry you should look at are your finances:

  1. If you are able to afford the downpayment + stamp duties

  2. If you would be able to offset the mortgage loan with your CPF and income

  3. See if the resale flat is close enough for a Proximity Housing Grant

The reason this is so is because resale HDB flats trends generally depreciate a lot, especially after 20 years. If you are not planning to move out until the end, then this does not matter at all.

However, for those who are not certain on where their final homes would be, buying a resale flat can be a huge mistake as they have already bought it at a high price and are forced to sell it lower because of the depreciation.

It is unlikely that condo prices will be lower than HDB resale prices in the same area. Although depreciation is less for condos in the long term and there is a potential for en bloc, the upfront payments and mortgage may take a bigger toll on your wallet.

There's a lot of questions to ask here - family size, TDSR, future plans but if I may provide you with general advice based on your question, its this:

Keep trying for BTO, especially in New Towns (that are close to where your parents live)


Keep track of resale prices, if you don't plan to move out and plan to retire in that flat and get one close enough to qualify for a proximity housing grant.

If you need any clarification on the above information, feel free to contact me. Will be more than happy to help you out.



It depends on your affordability. As we do not know about your affordability, that’s quite difficult to answer. Me and my wife go for private as we want to buy 2nd property for investment, hence only private can provide us this option. If go for hdb resale, basically you will need to pay 12% ABSD for 2nd property. So it depends on you affordability and long term plan.



Pascal S

Pascal S

03 Mar 2020

Level 7·MBA Graduate at Singapore Management University

Hi Anon,

I wouldn't and I think it is not rational to buy resale as well as a private condo.


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