Dear readers, it seems to me that a widespread thinking in our society is that owning a condo is akin to success.
And therefore, it is not surprising to see some (I don’t have the actual numbers but based on anecdotal findings, the numbers may not be small) HDB owners upgrading to condos or first time buyers choosing to buy a condo notwithstanding that they may be stretched budget-wise in buying a condo.
I think some may buy a condo not because they like to stay in a condo over a HDB flat but because they want to meet the conventional metrics of material success in our society to be seen as “having arrived” (in status).
Others who buy a condo not because of what they want or to meet the conventional metrics of material success do so, as they understand somewhere that condo ownership and the sale thereafter will give them a quick buck.
I would think that properties are for long-term staying and one should not buy and stay in a condo to meet the expectations of others. Rather the buying decision should hinge on one’s actual and practical needs.