Maybe you’re not interested in waiting ’till you’re 35 to get an HDB flat; or maybe you’re ready to start investing in property now. Either way, with the recent surge of low-quantum properties, there’s a growing number of single Singaporeans who can now afford a private home.
This has led to an increasingly common question: is it a good idea for singles to start with a private condo? And what are some of the less apparent risks besides affordability? For those of you making this decision, these are the key factors to know about:
What are the key concerns of buying private property when single?
- Affordability concerns
- Financing and initial cash outlay
- Subsequent restrictions on the next home
- There’s no MOP but there is SSD
- Think twice about who you rope in