HDB or Condo? — Here's why 25-year-old financial advisor & undergraduate chose condo over HDB

SINGAPORE: Many first-time homebuyers choose between Housing and Development Board flats and condominiums in Singapore. However, Daniel Heng, 25, a financial advisor and undergraduate, chose a condo over HDB.“I only spend what I need to, and invest the rest of my money as discipline savings,” Daniel shared. He recently committed to purchasing a $1.27 million condominium unit, a significant departure from the traditional choice of HDB flats.

Daniel’s financial prudence extended to his investments, which included equities, fixed-income assets, and cryptocurrency.Initially, Daniel considered buying an HDB flat, a common choice for first-time buyers in Singapore. However, his monthly income exceeded the eligibility limits for BTO flats and Executive Condominium units.

He recognized that opting for an HDB flat in the central region or a Prime Location Public Housing project would mean a more extended Minimum Occupation Period of 10 years, five years more than a regular HDB flat.One unique aspect of Daniel’s decision was his desire to inspire his team members through his purchase. He wanted them to see the potential rewards of hard work and ambition by witnessing his achievements firsthand.

The perception that condos are inherently more pet-friendly is not entirely accurate, as some HDB restrictions do not apply within condo premises, allowing residents more flexibility when owning a pet.

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