Why Should HDB Upgraders Consider Executive Condominiums?

Executive Condominium ​— The hybrid between public & private housing, is one of the top choices for HDB Upgraders. While we all know about the snatch, what’s the reason behind why Executive Condominium remains an ideal choice for the upgraders?

1. The ​AFFORDABILITY​ of a prestige living: Executive Condo is ​built and managed by private developers but comes with a price tag 20% cheaper than the private counterparts, as the land cost is subsidized by the government.

2. Saving you the ​TROUBLE​: For upgraders who shift directly from a HDB to a private condominium, chances are, you either sell your HDB flat before the next purchase to avoid ABSD (Additional buyer stamp duty) or having to fork out an additional 7% ABSD first.

While being a hybrid housing, Executive Condominium follows the HDB regulations where ABSD will be remit for HDB Upgraders. In other words, you don’t need to rush selling your HDB to avoid ABSD or rent a place in between the arrival of your new EC.

3. The ​GRANTS​ from Government: Receive up to $30,000 grants to offset the purchase of your Executive Condominium. The grants will be fully credited to applicant’s CPF Ordinary Account to help lowering the home loan amount required.

4. Renovation ​COST​: Unlike getting another new BTO or resale flat, Executive Condominium comes fully-furnished with the necessary fittings. Therefore, renovation costs can be kept minimal which can usually range between $30-100K, depending on the design & materials used.

We are Pamela & Shirley here from Wonderhomesg.com. Are you looking out for an Executive Condominium but unsure of your best pick or having some questions regarding property? Drop us a private message and we will get back to you soonest.