When Chasing the Condo Dream is Not Always the Right Move
“Everyone is upgrading to a condo — we should do it too.”
It’s a common thought, especially when social media is filled with posts of beautiful showflats, sky pools, and brand new keys in hand. The dream of private property living is strong — and understandably so. Who wouldn’t want lifestyle facilities, greater prestige, and the promise of capital appreciation?
But what happens when this condo dream turns into a financial nightmare?
The Real Cost Behind the Dream
For one family of four, the decision to follow the crowd and upgrade to a 2-bedroom condo seemed like the natural next step. They had seen others around them make the move — friends, colleagues, relatives — all proudly sharing their upgrades. The pressure to “not be left behind” kicked in, and the family made the jump.
But reality hit hard and fast.
Monthly instalments ballooned, chewing deep into their savings. What was once meant to be a home of comfort became a source of stress. Every month was a struggle to meet repayments, with little left for emergencies, children’s needs, or even simple family pleasures.
Space: A Silent Sacrifice
A 2-bedder condo may sound sufficient on paper, but for a family of four adults, the space quickly became a constraint. Lack of privacy, tension over shared areas, and the inability to host guests or even store belongings turned the beautiful space into a daily frustration.
In chasing the dream of owning a condo, they had unknowingly downgraded their lifestyle and comfort.
The Capital Gain That Never Came
They bought with the belief that the property would appreciate. That one day, they would sell at a profit and upgrade again.
But the market had other plans.
Due to rising interest rates, oversupply in their area, and urgent financial stress, they were forced to sell — at a loss. They couldn’t hold long enough for the market to turn. What was once marketed as a “capital gain asset” became a painful financial regret.
A Costly Lesson
This is not a rare story. We’ve met many who realise, too late, that chasing a dream not aligned with their financial stage and family needs can lead to broken plans and broken spirits.
It’s not just about owning a condo. It’s about knowing when, why, and how to do it strategically.
The Better Path: Planning, Not Pressure
There’s nothing wrong with owning a condo — in fact, with proper planning, it can be an excellent asset. But timing and strategy are everything.
Before upgrading, ask yourself:
Is this move sustainable for the next 5–10 years?
Will it serve my family’s lifestyle and growth?
Can I comfortably hold through market cycles?
Is there a better way to grow my wealth with less risk?
Sometimes, staying in your HDB and building wealth through other means — like a second property or structured investments — may be the smarter path.
A Happy Family or a Lost Investment?
At the end of the day, what matters more — a dream sold to you by others, or a lifestyle that brings peace, growth, and security?
Choose wisely. Your home should bring your family together, not tear your finances apart.
Need help figuring out if it’s the right time for you to upgrade? Let’s talk. No pressure, just clarity.
– David & Audrie, The Real Estate Couple for Couples
