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Wednesday, December 7, 2022
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FAMILY ASKS IF THEY SHOULD STAY AT THEIR RENTAL HOME OR BUY A HDB “TO FEEL SECURE”

Better to buy a house or stay at current rental place where there’s no stress?

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Hi guys, just wanted to see what others think is a wiser decision for us. We currently live in a rental flat by the government at a very convenient place for us where we were able to live stress free for years and felt blessed to be living here.

My mom is a single parent and she felt that it’s better for us to have a proper home that could be considered as an asset to feel more secure I guess. However the houses she can afford is all very inconvenient for us, like having straight buses to school or work, getting groceries, lack of convenience store that opens till late night. Amenities are quite important to us especially since we usually buying things after 9pm, the time when we come home. Having said that we never stress about rushing home to catch the last public transport or run to the store before it closes as we usually have multiple options to back us up.

Moving out of our current place will only open up unnecessary problems and stress that didn’t exist before instead of resolving any problems we currently face which is nothing.

However my mom keeps bringing up the point that prices are increasing and it’s fundamental if stay in a house that we actually own. I know it will be a bad decision for us to move because we used to live in Tampines before, my mom would always share with me how she struggled with the place during her pregnancy because of the inconvenience and lack of stores opening after 9pm when something is needed at that time.

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I’m very sure as she ages, the convenience we have right now will be more important than having her own home for her to live happily without any struggles. I also do not want to move towards that direction again as I too will be growing older as time comes by.

Please kindly share your thoughts. Thank you

Netizens’ comments

  • I think you’d find that amenities in most neighbourhoods have greatly improved since the time your mom was pregnant with you. Most NTUCs are now open until 10/11pm (if not 24 hours), and many coffeeshops are open late so you can always get late night food. And of course public transport has improved very much, especially if you live near a MRT station.
  • You mentioned government rental, so I would guess it’s actually a very affordable rate? From what residents shared with me when I was doing house visits last time, government rental flat would be less than $200 per month. It’s highly unlikely that the monthly mortgage for a flat you own can be as competitive. Will you be expected to help contribute to the housing loan?
    The main gripes from most residents living in rental is actually the space and environment. It can be quite dirty, with inconsiderate neighbours, etc. For the rentals I’ve seen, the bed is in the living room, there’s no actual bedroom, so it’s usually not a great place for children. But you actually seem pretty satisfied with the rental situation.
    How old are you now? How old is your mum? You mention that your mum is a single parent. If she buys a flat, will you be locked in as an essential occupier? It might hinder your future plans.
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