Good evening A G,
Let me explain what will be the ABSD liability for the two scenarios that you described.
1) If you decide to sell HDB first and purchase a resale or new condo, your ABSD liability will be 5%.
2) If you decide to purchase a resale or new condo first, your ABSD liability will be 10%. You wont be able to get back any ABSD refund when you sell off your HDB after taking possession of your new condo.
Thus you have to weigh between these two options.
For 5% ABSD liability:
If you sell first and purchase a resale condo, you can stretch your sale period and shorten your purchase duration. In this way, you dont have to find a temporary accommodation.
If not, you will have to find and spend money on rental especially for construction period till completion for new condo.
Unless one of you turn Singapore citizen before you purchase a condo, you will still have to pay for the 5% ABSD but you will be able to apply for ABSD remission provided you are able to sell off your HDB within 6 months from TOP or purchase completion.
This is an exemption for married couples with at least one Singaporean who purchase their first residential property in Singapore by IRAS.
Hope my explanation helps!
If you need further assistance or advice in your property purchase, feel free to contact me. Cheers!
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M): +65 9111 5171