Written on behalf of Strada Visual Lab for PropertyGuru Finance.
Excerpt
In a country where living in one’s childhood home well into adulthood is not uncommon, moving out is seen as one of the hallmarks of reaching adulthood and taking another step toward living independently in Singapore.
For many Singaporeans, their first taste of living alone comes when they get married and buy their own homes. However, there are others who rent, leaving their parents’ homes ‘prematurely’. The COVID-19 pandemic certainly created an opportunity for many youngsters to rent, as enduring work-from-home and home-based learning arrangements highlighted the need for space and independence.
Some parents will beg to differ, of course. Empty nest syndrome aside, the more prudent generation may think, “Aiyah, waste money”, especially when a roof over one’s head is already available.
Perhaps there is some wisdom to that. If the question was about long-term housing, how would renting over a long period be compared with buying a property? When would it make more financial sense to buy an HDB flat instead? Let’s find out.
Read the full article here.
Samantha Phua 