Ah Beng sit alone at his small HDB kitchen table, stir his kopi-O kosong and stare blankly at the morning sun streaming through his window. He shake head slowly, then mutter to himself, “Buy HDB for what ah? I pay until I die lor.”
He remember clearly when he first think about buying his flat. Back then, fresh from polytechnic, starting job at only $1,800 a month, the idea of owning his own home was like dream come true. BTO just launched, prices not too bad, CPF can cover part of loan. “Okay lah, manageable,” he tell himself. But ah, little did he know, life not so simple one.
Double and Double
Years pass, flat prices go up like crazy. Not just a bit, but several times over last decade. “Same kind of 4-room flat,” he mutter, “last time maybe $300k, now resale already $600k plus sia. Wah lau, like this how I can catch up?” He sip kopi slowly, thinking about how he worked overtime for extra pay, how his salary increase bit by bit every year—sometimes 3%, sometimes less. “Salary go up a bit, flat price go up double… I work until grey hair also maybe still owe bank.”
He lean back, tap table with finger. “I tell you hor, paying mortgage every month is like never-ending story. CPF also kena drain. Sometimes I calculate in my head, wah, until last breath maybe still paying! Government say HDB affordable, but affordable for who leh? My pay stay same same, flat price naik naik naik… who can survive like this?”
Ah Beng start recall all the sacrifices he made. Every holiday cancelled, every makan outside reduced, every kopi-teh with friends limited to minimum spend. “I save like mad man just to pay down loan faster, but price still climbing. Last time neighbour sell flat kena good profit, I look at their CPF statement, wah, even my CPF cannot match. Why like that one?” He shake head again.
Then he remember his friends talk. Some lucky ones, got in BTO early, flat price increase not so high. Some even manage to upgrade to resale unit without much headache. “Me? I too late, buy just now, price already rocket. Every year check newspaper, oh my neighbour’s flat kena good increase again, mine still same, same monthly installment ah… like running treadmill sia, cannot reach anywhere.”
Bank Loan
Ah Beng stare at ceiling, sigh heavy. “Sometimes I really think… why I even bother buy HDB? Just to be slave to bank loan until die anot? Maybe better rent until die, save CPF also more freedom. But then hor, Singapore culture… everyone say must own home, must stable, cannot rent forever… wah, pressure lagi.”
He pick up kopi cup again, but this time his hand tremble a bit. “Paying for house not just money lor, also stress one. I worry if something happen, cannot pay installment, then what? Flat kena forced sale, everything also lose. Government say protection, but reality not always perfect. Every month I count pennies, calculate carefully, sleep also not really peace.”
Ah Beng shake his head one more time, muttering: “Flat prices go up several times in last decade, my salary go up several times anot? No lah, just tiny bit only. Every month pay mortgage like slave, work until grey hair… for what sia? Buy HDB to build home, or buy HDB to chain myself to bank until last breath?”
He sip kopi last drop, look outside at neighbours laughing, kids playing, family chit-chat. “Ah, everybody say HDB is dream home, security, stability… but me? I see just debt, worry, pressure, never-ending payment. One day hor, maybe CPF cannot cover, interest increase… wah, really scary lor. I pay until die ah, then what left? Only walls and ceiling… not even freedom.”
Ah Beng put cup down, shake head slowly, then mutter to himself again: “Seriously sia… buy HDB for what? Pay until die lor. Dream home? More like nightmare house lah.”
He stand up, look out window again. Maybe one day hor, flat prices stabilize, salary catch up. But until then… he only got kopi, sigh, and hope he don’t need to work until grey hair just to pay mortgage.