Buying a HDB or Condominium?

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VJK_SG
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Buying a HDB or Condominium?

Post by VJK_SG » Thu, 22 Jul 2021 9:29 am

Hello Everyone,

I would like to know your suggestions on buying a HDB flat or a condominium.. which is better?

I don't have any idea about real-estate in Singapore. Please let know if you have better suggestions.

Thanks

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Lisafuller
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Re: Buying a HDB or Condominium?

Post by Lisafuller » Thu, 22 Jul 2021 10:37 am

You’d have to be more specific with your questions. The two are not apples to apples, its impossible to compare. It all depends on what you value, whether thats price or privacy or facilities. If you prefer a more private estate with facilities and amenities, condos are a much better option. Of course, this comes at a price- they are often nearly twice the price of HDBs.

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Re: Buying a HDB or Condominium?

Post by CoconutTrees » Thu, 22 Jul 2021 10:42 am

It really depends what kind of person you are, what you want and the specific HDB or condo you have in mind as there is a lot of variety between them all.

If the price of a condo and the price of an HDB were the same with similar location and access to amenities, I might well be tempted by the Condo, but on balance I suspect I would recommend an HDB.

My immediate thoughts (assuming you are buying to live in it rather than as an investment):
  • Ownership
Remember for an HDB, you are buying the lease, not the property.
For a condo, that might be the case too, but there are a few that are freehold.
  • On-Going Costs
I say this, not as an owner, but as a renter - the impression I get is that Condo's come with on-going libilities in the form of maintanence charges for things that you will not have ultimate control over and might not even require, as well as the burden of one-off charges when the management run low on funds (e.g. repainting, structural repairs etc). This might also depend on the nature of the management committee but from reading the minutes at my place, decisions seem to drag out for a few months - often because they want multiple quotes and requotes (and eventually settle for the lowest quote which gets the poorest quality and a botched job). As decisions get made at the management committee you will be only one voice out of many.

For HDB properties you are at the mercy of the HDB, so you could say you don't have any voice. However, for everyday maintenace you rely on the town council. I do not yet have experience of how easy they are to deal with, but I have reported various issues over the years via the OneService app and things do get rectified - the Town Councils have a budget and reputations to keep, as well as their own contractors, so I think they have less deliberation and more action.
  • Atmosphere
Lifestyle-wise, Condo's can be nicer environments during the off-peak times but I have found that things like Swimming Pools are inundated with screaming children (and sometime adults) in the evening and weekends. Even when there is a separate kids pool the adults still bring their kids to the spa pool to play games...however if you can avail of the facilities during the off-peak hours then it can be a more peaceful environment. That said, if you have your own children, then the closed environment of the condo provides some peaceofmind to let your kids run a muck knowing they won't go too far.

Some HDB estates can been quite reasonable places with their own garden areas, albeit without the tennis courts and swimming pools; yet some estates really need a spruce up...so it's hard to argue on this point without knowing the specifics.
  • Misc.
If you have a car, then Condo's often include a parking space, whereas HDB's you will need to pay for a parking permit.

Living in a condo can bring a lot of paperwork - moving-in/out requires a form to be submitted, deposits paid and timeslots to be granted. Some require this for deliveries of large items too. Use of the lifts and padding fees also add to the hassle.

If you buy an HDB Lease, you are unable to rent it out nor buy a second property (even overseas) for 5-years. HDB's can't be owned by foreigner's either - so if you buy it with a local partner and they pass away you will be forced to sell it.

Not an issue with condos, so at least from the perspective of financial-risk in theory you could rent out your condo if you needed to leave.

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abbby
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Re: Buying a HDB or Condominium?

Post by abbby » Thu, 22 Jul 2021 10:50 am

If you buy direct from hdb..you may qualify for housing grant, depending on what scheme you qualify for..
HDB prices are more affordable so ppl buy it for affordability and chance of profiting is also good when you meet you MOP (minimum occupation period).
HDBs are in demand if you're in a good location, near sch, amenities.

Condos
You get gated community, better security
Facilities you can enjoy..but you do pay about $300+ /- every month for it
Great if you use facilities, swim, gym, no need club membership
Prices can also go up if you time the market and buy the right project/ may lose money if you buy the wrong one..
The secret of life is honesty and fair dealing. If you can fake that, you've got it made. - Groucho Marx (1890-1977)

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Re: Buying a HDB or Condominium?

Post by therat » Thu, 22 Jul 2021 12:53 pm

VJK_SG wrote:Hello Everyone,

I would like to know your suggestions on buying a HDB flat or a condominium.. which is better?

I don't have any idea about real-estate in Singapore. Please let know if you have better suggestions.

Thanks
May be you should let us know what is ur residents status now.

2019, you mention your spouse is PR. REP renew 1 yrs
2020, you mention you are in OZ. Come in as EP

Sent from my LM-V405 using Tapatalk


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