Readiness to upgrade is a financial condition, not an emotional one.
5 Signs You're Ready
1. Your MOP is complete or within 12 months.
2. Your net HDB proceeds cover at least 25% of your target property price.
3. Your combined household income comfortably supports the new mortgage under TDSR.
4. You have at least 6 months of expenses in liquid savings beyond what you need for the purchase.
5. You're still at least 15 years from retirement.
2 Signs You're Not Ready Yet
1. Your net HDB proceeds don't cover the minimum downpayment on anything realistic. The right response is a plan to get there, not a stretch into properties that would cause genuine financial strain.
2. Your household income is close to TDSR limits even before the new mortgage. Clearing existing obligations first is the path forward.