My thoughts are in pieces because housing and family hood is such a big and complex issue. But would like to seek your advice on how you’ve overcome this obstacle in the past.
Context
Coming from someone who graduated during Covid-19, i am affected by the skyrocketed prices and long waiting BTO duration (I’ve bid for 8 times and just finally got my BTO queue number but I’ve to wait till 2030). Of course, younger me would not have foreseen such a huge housing availability issue being a first obstacle on my journey in adulthood.
Options
I am turning 28, and will be 35 by the time I collect my flat. I am now presented with 3 options.
- Wait till a few years (maybe 30) when the housing market cools and we have greater savings to get a resale flat? However this would means that I have to sacrifice the BTO selection. But this may bring a whole new set of uncertainties.
- Stay with my parent and my sister and invite my partner to stay over. Only shift in after 35. This has its pros for financial capability but it breaks down the norm of having a flat before settling.
- Renting a flat after marriage while waiting till 35. However, the rental price currently is insane I might consider paying my parent the rental fee rather than other landlords.
Would like to also seek your views if there are other alternatives to my options.
Concerns
My main concern comes from the long waiting time. 7 years is around 1/10 of our lifespan only to wait for a flat and it really will affect all the family planning. Or maybe I should change my mentality that it is okay not to have a flat to start a family.
Most of my friends are single but I don’t see many of them starting a family at my age as well. It seems like alot of them (around me) a encountering each of their own issues.
Background
My partner is 1 year younger than me. We are both working for the government so i consider our income as average (if this helps).
Personal (More feelings than thoughts)
I can’t believe after getting my BTO queue after so many fails, felt more concerned than happy. I know life can’t be all glamorous and fair but it feels really daunting that all I could do is wait if I am opting for the traditional housing route.
In hindsight I should have started bidding earlier but not many have that foresight. I bidded for a mixture of mature and non mature estate but it took me 8 tries to get a number within queue. I am not sure if this is the norm as well.
Thanks for any inputs and really appreciate your time. Adulthood is tough
Here are what netizens think
- I see so many of these posts.. why don’t you buy a resale 3 room? What’s with the idea that you need 5 room right off the bat. Are you gonna pop 3 kids year after year, or are you hoping for that bto lottery?
I got a 3 room resale in Serangoon, and now I have a 3yo kid, and I try to bto nice locations when they appear atm. Heck if I don’t get it in a year or two, I’m upgrading to 5 room across the road once MOP is up so that I can get a maid and a second child. Meanwhile, life is good with low loan repayment (no cash) and my wife and I get a separate room for our work/play. Our CPF has also grown tremendously (above BRS) compared to when we had to rely on grants to get the 3room. Rightsizing applies to your first home too, not just retirees.
Adulting isn’t as tough as it is. Your expectations make it tough. And living without parents is the best thing ever. - If you are both ok, and parents ok then stay with parents. Many parties involved tho and can turn from ok to not ok.
“Easiest” is rent. Only both of you involved (plus landlord). Paying rent is just what it is. It’s not wasting money, but actually reality. Have to give up some comfort to make this work e.g. smaller place, share with friends/other couple/live in landlord or move further away.