Answer
HDB to Condo Upgrade — 8 Steps
Upgrading from HDB to condo is the most common property move in Singapore. Here's the complete checklist — what to do, in what order, and what most people get wrong.
Answer: The HDB to condo upgrade takes 8 key steps and about 9–12 months: (1) Check MOP, (2) Calculate CPF refund, (3) Check TDSR, (4) Get In-Principle Approval, (5) Find your condo, (6) Exercise OTP, (7) Sell your HDB, (8) Complete purchase. Most upgraders sell HDB first to avoid 20% ABSD on the second property.
The 8 Steps
Step 1: Check Your MOP
Your HDB must have fulfilled its 5-year Minimum Occupation Period before you can sell. MOP starts from key collection, not purchase date. Check your MOP date on the HDB portal under My Flat > Purchased Flat.
Step 2: Calculate Your CPF Refund
When you sell your HDB, all CPF used (principal + 2.5% accrued interest per year) goes back to your CPF OA. This is mandatory. Use our calculator to estimate the exact amount — it's often larger than people expect after 5–10 years.
Step 3: Check Your TDSR
Banks cap your total monthly debt at 55% of gross income (using a 4% stress test rate, not your actual rate). This determines the maximum loan you can get. Include car loans, credit card debt, and any other obligations.
Step 4: Get In-Principle Approval (IPA)
Before shopping for a condo, get an IPA from a bank. This confirms how much they'll lend you and locks in an indicative rate. IPA is typically valid for 30 days and is free. Get IPAs from 2–3 banks to compare.
Step 5: Find Your Condo
With your budget confirmed, start viewing. Key decisions: new launch vs resale, freehold vs leasehold, CCR/RCR/OCR. New launches mean 3–4 year wait but progressive payment. Resale means move in faster but full payment upfront.
Step 6: Exercise OTP
Once you find the unit, you'll sign an Option to Purchase (OTP). For resale: pay 1% option fee, then exercise within 14 days (pay another 4%). For new launch: pay 5% booking fee at showflat, exercise OTP within 3 weeks.
Step 7: Sell Your HDB
List your HDB, get a valuation, and sell. Timeline: 3–6 months from listing to completion. You must sell within 6 months of the condo purchase to qualify for ABSD remission (if you bought the condo first). Engage an agent — 2% commission is standard for HDB resale.
Step 8: Complete the Purchase
For resale condo: complete within 8–12 weeks of exercising OTP. Pay stamp duty (BSD), remaining down payment, and engage a conveyancing lawyer ($2,500–$4,000). For new launch: follow the progressive payment schedule over 3–4 years.
Typical Timeline
| Phase | Duration | What Happens |
|---|---|---|
| Planning | 1–2 months | Check MOP, CPF refund, TDSR, get IPA |
| House hunting | 1–3 months | View condos, compare, negotiate |
| OTP + purchase | 2–3 months | Exercise OTP, stamp duty, legal |
| Sell HDB | 3–6 months | List, negotiate, complete sale |
| Total: ~9–12 months | Sell first approach | |
Phases can overlap. Many upgraders list their HDB while searching for a condo.
Common Mistakes to Avoid
Underestimating CPF accrued interest
After 10 years, accrued interest can be $50K–$80K on top of principal. This all goes back to CPF, reducing your cash proceeds. Calculate this early.
Not accounting for the housing gap
If you sell HDB first and buy a resale condo, there's often a 2–3 month gap where you need temporary housing. Budget $3K–$5K/month for rental.
Forgetting about ABSD timing
If you buy the condo before selling HDB, you pay 20% ABSD upfront (SC second property). You can get remission if you sell the HDB within 6 months, but you need the cash to pay ABSD first.
Stretching the budget too thin
TDSR says you can borrow up to 55% of income, but that leaves little room for other expenses. A safer target is a monthly mortgage under 30–35% of household income.
Run your upgrade numbers
The pipeline calculator takes you through the full HDB-to-condo journey: HDB equity, CPF refund, borrowing power, and what you can afford.
FAQ
How long does the HDB to condo upgrade process take?
Typically 9 to 12 months from start to finish. The biggest time factor is selling your HDB (3–6 months) and completing the condo purchase (8–12 weeks after exercising OTP). If you buy a new launch, the condo won't be ready for 3–4 years.
Do I have to sell my HDB before buying a condo?
If you want to avoid ABSD (20% for SC second property), yes — sell first, then buy. You have 6 months after selling your HDB to buy a private property without ABSD complications. Alternatively, you can buy first but must sell the HDB within 6 months of the condo purchase to claim ABSD remission.
How much does it cost to upgrade from HDB to condo?
Key costs: CPF accrued interest refund (returned to CPF OA), stamp duty (3–5% of condo price), legal fees ($2,500–$4,000 for sale + purchase), agent commission (2% for HDB sale), cash down payment (minimum 5% of condo price), and renovation ($30K–$80K for the condo).
What is the CPF refund when selling HDB?
When you sell your HDB, you must refund all CPF used for the purchase (principal + accrued interest at 2.5% p.a.) to your CPF OA. This is mandatory — you cannot take it as cash. The refunded amount can then be used for your condo purchase.
Can I use my HDB sale proceeds for the condo down payment?
Yes, but timing matters. If you sell HDB first, cash proceeds are available immediately. CPF refund goes back to your OA and can be used for the condo. Plan for the gap — you may need temporary housing (rental) between selling HDB and collecting condo keys.
Related
- Pipeline Calculator — full HDB-to-condo journey in one flow
- Affordability Calculator — max condo from your HDB equity
- Sell HDB Buy Condo Timeline — detailed timeline breakdown
- Down Payment for First Condo
- CPF Accrued Interest Calculator
Last updated Feb 2026. Based on HDB and MAS regulations. This is general information, not financial advice.