I am CPF rich but my monthly salary is only $5000. Should I buy a private condo or HDB?

A reader asks: I am CPF rich but my monthly salary is only $5000. Should I buy a private condo or HDB?

Dave Yong, theAsianparent property expert, replies:

Both the private condo and HDB are great properties. What you eventually buy depends on your specific needs. Buying a private condo acts as a form of investment and satisfies your lifestyle needs. On the other hand, an HDB flat provides you with your basic needs for the same or lower price.  An HDB flat can also be spacious depending on the type of flat you purchase.  The monthly maintenance charges and annual property tax you pay for HDB flats are also lower. If you are CPF rich, an HDB flat might be more advantageous to you.