The journey of finding and purchasing your first property can be both exciting and overwhelming. Despite knowing the real estate industry, I still recall the mixed emotions I experienced on this adventure. It’s interesting how decision-making becomes more complicated when it involves our future. I reflected deeply on the kind of house I truly desired, delving into the emotional aspects of the process.
As a single individual under 35, my options were limited to private properties. I aimed for an investment property that could generate rental income to cover the monthly mortgage. This led me to consider the choice between a new launch or a resale condominium, which further added to the complexity of my decision-making. Each of us has unique life circumstances and financial backgrounds, making thorough research and exploration of different property options, such as HDB flats, executive condominiums (ECs), or private properties, imperative.
Saving for a house requires discipline, particularly in a world where temptations abound. We are constantly exposed to alluring experiences like dream vacations, flashy cars, and the latest material possessions. Learn to say “No” and be focused on your goal of saving for your property. When you reach your goal, these will give you a better sense of achievement. But you also could play Ice Сasino which could easily bring you enough profit for making your wish come true. Choose your favourite casino game, get bonuses and have fun!
There’s no shame in asking for help if you need more to proceed with the purchase. A downpayment on the house is sometimes just too much when we start working, but if your family member or parents can help you financially. You can approach them for help, but please remember to pay them back when possible.
Topping up your CPF voluntarily as a means to bolster your savings could be beneficial for self-employed people. Contributing to your CPF acts as a forced savings mechanism that can prove invaluable if you encounter difficulties paying the mortgage in the future. Your CPF funds can help alleviate financial burdens and ensure the sustainability of your homeownership journey.
You can reach your goal by planning for it. After all, fail to plan, plan to fail. By having the desire to reach your goal, you will find all ways such as saving and investing for it. Eventually, you will reach your goal or be it anything you aim for. Before reaching it, you must stay disciplined and learn to say “no” to things that interrupt your quest. By implementing these strategies and making informed decisions, you will be well on your way to affording your first home and embracing the joy and stability it brings.