Answer
HDB to Condo Upgrading — Full Cost Breakdown
Selling a $600,000 HDB and buying a $1,500,000 condo? Here's every cost you need to plan for.
Answer: Upgrading from a $600,000 HDB to a $1,500,000 condo costs roughly $80,000 to $120,000 in transaction and setup costs — $44,600 stamp duty (BSD), $12,000–$27,000 agent fees, $5,000–$8,000 legal fees, $50,000–$80,000 renovation, plus temporary housing and moving. That's on top of the $375,000 down payment (25% of $1,500,000).
Complete Cost Breakdown
Selling $600,000 HDB → Buying $1,500,000 condo (SC, 1st property)
| Cost Item | Low Estimate | High Estimate | Notes |
|---|---|---|---|
| Selling Your HDB ($600,000) | |||
| Agent commission (2%) | $12,000 | $12,000 | Negotiable, 1–2% |
| Legal / conveyancing | $1,800 | $2,500 | HDB-appointed or own lawyer |
| HDB admin fees | $80 | $80 | Resale application fee |
| Buying Your Condo ($1,500,000) | |||
| Buyer’s Stamp Duty (BSD) | $44,600 | $44,600 | Payable from CPF OA |
| ABSD | $0 | $0 | SC 1st property = 0% |
| Agent commission (buyer) | $0 | $15,000 | New launch $0, resale 1% |
| Legal / conveyancing | $3,000 | $5,000 | S&P + mortgage |
| Valuation report | $300 | $500 | Required by bank |
| Setup Costs | |||
| Renovation | $50,000 | $80,000 | 3-bed condo, mid-range |
| Temporary housing (2–4 mo) | $5,000 | $18,000 | $2,500–$4,500/mo rental |
| Moving (2 moves) | $1,000 | $3,000 | HDB → temp → condo |
| Storage (if needed) | $500 | $2,000 | $200–$500/mo |
| Total Transaction & Setup Costs | $118,280 | $182,680 | |
Down Payment on $1,500,000 Condo
| Component | Amount | Source |
|---|---|---|
| 5% cash down payment | $75,000 | Cash only |
| 20% CPF / cash | $300,000 | CPF OA or cash |
| 75% bank loan | $1,125,000 | Bank (subject to TDSR) |
| BSD | $44,600 | CPF OA or cash |
| Total Cash Needed (minimum) | $75,000 | 5% must be cash |
| Total Upfront (cash + CPF) | $419,600 | Down payment + BSD |
Assumes 75% LTV (first property, tenure ≤ 30 years, age+tenure ≤ 65). If LTV is lower, cash/CPF portion increases.
Where Does the Money Come From?
Here's a typical cash flow for a couple selling a $600,000 4-room HDB flat:
| Item | Amount |
|---|---|
| HDB sale price | $600,000 |
| Less: outstanding HDB loan | ($200,000) |
| Less: CPF refund + accrued interest | ($220,000) |
| Less: agent commission (2%) | ($12,000) |
| Less: legal fees | ($2,000) |
| Net Cash from Sale | $166,000 |
| CPF OA (refunded + existing balance) | $280,000 |
| Total Available (cash + CPF) | $446,000 |
Illustrative. Your CPF refund depends on how much CPF you used for the HDB and how long you held it (accrued interest at 2.5% p.a.).
Monthly Cost: HDB vs Condo
| Monthly Cost | $600,000 HDB | $1,500,000 Condo |
|---|---|---|
| Mortgage payment | $1,400 | $5,630 |
| Property tax | $50 | $150 |
| Maintenance / town council | $80 | $450 |
| Insurance | $5 | $30 |
| Total Monthly | $1,535 | $6,260 |
| Monthly Increase | +$4,725/mo | |
HDB: $200,000 loan at 2.6% over 20yr. Condo: $1,125,000 loan at 3.5% over 25yr. Part of mortgage can be paid from CPF OA.
Run the numbers for your situation
Plug in your HDB value, loan, CPF, and income to see exactly what condo you can afford.
FAQ
How much does it cost to upgrade from HDB to condo?
For a typical upgrade from a $600K HDB to a $1.5M condo, expect $80K to $120K in total transaction costs: $44,600 BSD on the condo, $6K to $12K agent fees, $5K to $8K legal fees, $50K to $80K renovation, plus moving and temporary housing.
Do I pay stamp duty when selling my HDB?
No BSD when selling. But if you sell within the Seller's Stamp Duty (SSD) period (4 years for properties bought from 2025), you pay 4% to 12% SSD. Most HDB upgraders have passed MOP (5 years), so SSD does not apply.
How much are agent fees when upgrading?
For selling your HDB, agent commission is typically 2% of sale price ($12,000 on a $600K flat). For buying a resale condo, the buyer usually pays 1% ($15,000 on $1.5M). For new launch, buyers pay no agent fee.
Do I need temporary housing when upgrading?
If you sell first and buy later, yes. Temporary rental costs $2,500 to $4,500/month for 2 to 4 months. Budget $7,500 to $18,000 total. Some upgraders use HDB Contra Facility to minimise the gap.
How much should I budget for condo renovation?
For a new launch condo (bare unit), budget $50,000 to $80,000 for a 3-bedroom. For a resale condo, budget $60,000 to $100,000+ depending on the extent of renovation. This is often the largest hidden cost of upgrading.
Can I use my HDB sale proceeds to cover upgrading costs?
Partly. After selling your HDB, you must refund CPF used plus accrued interest to your CPF OA. The remaining cash proceeds can be used for the condo down payment and costs. A typical $600K 4-room with $300K loan outstanding might net $150K to $200K after CPF refund.
Related
Last updated Feb 2026. Costs are estimates based on typical market rates. Actual costs vary by property, agent, and renovation scope. This is not financial advice.