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House Hunting

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By Rena

I live in a HDB flat in Singapore. As I bought a resale home, I got to choose the type of homes. The older types of HDB in Singapore are honestly super varied. As my home approaches the 5 year minimum occupancy period (MOP), I am seriously considering whether to move or not.

Currently, I live in a door -to- door unit. For such units, there are just 2 units facing each other ( sharing the common corridor). And since all levels have a lift, only 2 units share a lift per level.

I am not sociable. So having just 1 unit is ideal. No need to say hi to everyone. But there is actually more to it. You get to use the space occasionally as if it is your outdoor space. 

My neighbor use this space for prayers and so on from time to time. I use it for my kids to do some "zero point" game, and so on. Basically some games that you need space, but just don't want to go downstairs.

Alright. So recently, I went house hunting. And I saw a very interesting door to door unitm such units have 2 doors ( due to the home improvent projects. ). One door opens to the stairway and another opens to the lift. A new door was built as the previous configuration did not allow for life to be built. So a new structure was built. To allow residents access to the lift, an extra door has to be built. To me, it was pretty cool. And because the 5 room flat I was looking at was pretty big - 127 square metres, the doors don't look too close to each other. What's more the living room is really huge, as the owner has combined the "balcony" seamlessly into the living room. 

Location? Near park connector and amenities. And 1 bus stop from MRT station. Very serene environment.

Price? This comes the tricky part. This flat is definitely old. So if you compare it's price, it is $30k more expensive than the 5 room BTO in that area. But with 17 square metres more ( and has no aircon ledge - if you get what I meant). 

Will I still be around at the end of the lease of the flat? I don't know but I hope so, and honestly I don't mind buying another one if I manage to live till then. Will I leave the flat for my kids? 127 square metres is good for 1 family. Not for multiple families. I expect my kids to get their own home when they get married. Well the value it drops to  is of no significance then unless I want to sell it or need to encash it in anyway. So the purchase of a flat to me, is just a sunk cost if you really decide to stay there for good. Meaning, after you buy it, what price it rise to or drop to doesn't matter anymore right?

While I really like that place, I am still looking around. Who knows you get better options when you look around.


Disclaimer: I am not financially savvy. I buy homes based on my own thoughts. Do you own due diligence when you buy yours too. We are different. 






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