I was told that as a self-employed person, it would be hard for me to secure any time of loan especially a housing loan that is typically higher compared to other types of loans such as car.
My friend is also self-employed and he makes over $100,000 a year but when he was going to take a loan for his HDB purchase, he was only granted a $110,000. This is not even enough to buy the toilets of a 4-room flat.
So i had no choice but to go work full time until my loan is secured.Â
It was a hard decision to make since i was already used to the freedom of being self-employed. I was able to do what i wanted and when i wanted. I was able to take my own time off and not worry about the consequences.
But i had to make the sacrifice to get what i wanted.
I started job hunting and it was not easy. I did not know where to start and what kind of job i should take. After a few months of searching, i finally secured a job. It was a 9 to 5 job and i was not used to it. I was used to sleeping in and being able to do things at my own time.
But i had to do it for my dream of owning a HDB.
The long hours, tight deadlines and the pressure to perform were all part of the job and it was a challenge for me to adapt. I had to learn to be disciplined and to prioritize my tasks. This was not the life i was used to but i was determined to make it happen.
I was also saving up for the downpayment for the HDB and cutting down on my expenses. I stopped eating out and going to the mall. I was also living in a shared room to save on rental.
It was a difficult period for me and there were days when i felt like giving up. I had to remind myself of my goal and why i was doing this.
Finally after a year of hard work, i was able to secure the loan for my HDB purchase. It was a proud moment for me and i was relieved that my hard work paid off.