Ask an agent: Answers to your questions on navigating housing as a family

Finding a home that works for the whole family often means balancing several priorities at once. A larger home may offer more comfort, while a central location can make daily travel easier. At the same time, families must consider their budget, future plans and whether they want to live with or near their parents.

For the fifth edition of Ask an Agent, we gathered your questions on housing affordability, choosing a home that can support long-term wealth, upgrading from an HDB flat to a condo, planning for space and multigenerational living, and navigating ownership rules.

The questions were answered by Ryan Lee, Group District Director at ERA Realty Network Pte Ltd (CEA: R055105A), who has been in the real estate industry for 12 years.

Affordability & finances

Mr. Lee asks: With HDB prices rising, how will the next generation be able to afford a home?

HDB prices have risen, but prices should not be viewed in isolation. Household incomes have also increased, so it is important to look at affordability more broadly, including the relationship between income and property prices.

Ultimately, each buyer should work within their own financial limits. Consider your income, how much you can borrow and the downpayment you can manage, then adjust your property preferences accordingly. Buyers with less financial flexibility may need to choose a lower-priced home, while those with more room in their budget can consider a wider range of options.

From this perspective, HDB flats remain affordable across Singapore, provided buyers choose a home that fits their means.

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Anonymous asks: How do we find a home that is within budget without compromising on what the family needs?

Most buyers want the best of both worlds: a home at a good price that can appreciate, in a convenient and well-connected location. However, every property choice involves some give and take, and buyers cannot expect the lowest price together with every possible advantage.

Therefore, begin by listing your priorities and deciding what truly matters to the family. Needs should come before wants, especially when buying your first home. The home should support the family’s basic day-to-day needs so that you can live comfortably with the decision and reduce the chance of regretting it later.

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Angie asks: How do we choose a property that will make money and help us build long-term wealth?

Many buyers hope to choose the right property and make a sizeable gain after the Minimum Occupation Period (MOP) or Seller’s Stamp Duty (SSD) period. However, instead of searching for a single ‘best’ property that promises the highest return, start by asking who your next buyer is likely to be.

You should also study the demand and supply that the area may see over the next few years. Consider nearby schools, the property’s rental appeal, future land prices, possible growth in the area and the type of buyer who may eventually purchase the home, such as an HDB upgrader or an investor.

Taken together, these considerations form a practical checklist that can help you choose a property with a better chance of making money over the next few years.

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CK asks: Is now a good time to upgrade from an HDB to a condo, given the influx of buyers after the 15-month wait-out period was lifted?

There is no single good or bad time to upgrade. Transaction volumes were already high before the 15-month wait-out period was removed, although the change has since brought in more enquiries from right-sizers who are moving from private property to an HDB flat.

At the same time, not every HDB seller will buy another HDB flat. Some may choose to upgrade instead. Together, these movements can create more transaction activity and may lead to spillover effects on property prices.

Instead of basing the decision only on market timing, assess your current stage of life and financial position. Consider whether your income has increased, how much you can borrow and whether your existing property has appreciated.

From there, you can decide whether to upgrade now or wait. If your current home is still appreciating, you may choose to hold it for a few more years while monitoring the market over the next several months or up to a year.

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Space, location & family setup

Zhi Wei asks: We have two kids and are deciding between a bigger flat further out or a smaller one in a central location. What should we prioritise?

For a family with two children, space should be a leading priority. Many upgraders decide to sell because they need more room rather than simply because their property has made a large gain.

Between a smaller home in a better location and a larger home further out, the larger home may therefore be the more suitable choice. Although location remains important, sufficient space can support the family’s mental and overall well-being. It may also contribute to greater happiness and help family members function better in daily life, even though these benefits are harder to measure.

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Zack asks: What are the pros and cons of a multigenerational home versus buying separate units near each other?

The choice depends heavily on the family’s preferences. For those who value privacy and want their own space, separate homes within the same area can offer a useful balance. Family members can live independently without being too far from one another.

On the other hand, families who value a close bond may prefer a Multi-Generational or 3Gen flat. Living together allows the family to share a larger space and spend more time together.

Many younger families may still prefer separate homes. However, if they need their parents’ help with childcare or taking the children to school, living nearby can preserve that support without giving up as much privacy.

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Mohammed asks: Are there specific HDB schemes for multigenerational families living together?

Families can consider 3Gen flats, which are designed for multigenerational living. The Proximity Housing Grant may also support families who buy an HDB resale flat to live with or near their parents.

The grant is not limited to situations where the parents live in an HDB flat. Families may still qualify when their parents live in private housing, including a condo or landed property. Together, these options are intended to support home ownership and help younger families live closer to their parents.

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Rules & ownership

Joan asks: If you own a private property and inherit an HDB flat that you intend to stay in, do you need to pay ABSD?

ABSD is not payable when you inherit the HDB flat. However, the inherited flat will affect your property count, so you should confirm the ownership and occupation requirements that apply to your situation.

In particular, check whether you can retain both properties and which home you must occupy. Since these requirements depend on the circumstances, it is best to confirm them directly with the relevant HDB officer.

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Stay tuned for the next Ask an Agent

Ask an Agent brings your property questions to an experienced industry professional each month. Through these conversations, we hope to offer practical guidance that can help buyers, sellers and homeowners make more informed housing decisions.

When choosing a family home, there may not be one option that delivers the ideal price, location, space and potential returns at the same time. Families should therefore identify their most important needs, work within a comfortable budget and consider how the home may serve them in the years ahead.

For some, that may mean choosing more space further from the city. For others, it may mean living near their parents while maintaining separate homes. In either case, the right choice should reflect the family’s finances, daily needs and longer-term plans.

We will return with another Ask an Agent edition soon, featuring a new topic and more answers to the property questions you want addressed.