‘I don’t see it as an investment’: Singaporean in his late 20s says parents are ‘aggressively pressuring’ him to buy a home despite being happy renting

SINGAPORE: A Singaporean man in his late 20s has sparked a lively discussion online after sharing that his parents have been “aggressively pressuring” him to buy a home, even though he is perfectly happy renting.

In a post on a local Reddit forum, the man explained that buying a property has never been high on his list of priorities.

“I’ve never seriously considered buying my own place as I am super happy with renting,” he wrote on the r/singaporefi forum, adding, “For what it’s worth, my rent is only ~14% of my annual total comp, and I can well afford the places that I am renting if I were to buy them. I’m not spending 50% of my income renting places that I otherwise would never be able to afford.”

Beyond affordability, he said, one of the biggest perks of renting is flexibility. He enjoys living in different neighbourhoods, trying out new layouts and switching things up every year or two without being tied down to a long-term commitment.

According to him, the extra costs of renting are also minimal. “Besides the usual like rent, utilities and the occasional (up to S$200) repairs, there are no additional costs. Of course, I don’t get anything back at the end of my lease, unlike selling a house, but I do not view housing as an investment anyway.”

Still, he admitted that his parents’ constant urging had made him start to question his decision.

Turning to the online community for perspective, he asked first-time homeowners, “What are the unexpected costs (monetary or otherwise)? I’m not asking for the monetary aspects of owning vs renting, but rather what are some unexpected downsides of owning that you did not expect until you actually owned a place, and what would you have done differently.”

“The more space you have, the more stuff you’re going to buy.”

In the Reddit thread, one Singaporean user responded: “It’s only happen to a few of us, but getting my house ignite my love for interior design and cooking. Both of which expensive hobbies.”

Another commented, “Non-financial cost: Being fixed to a certain location. Reluctant about taking on work that pays better but increases my commute time.”

A third wrote, “If you own the place, then you need to foot the maintenance fees, which can run up to 1 plus k per month. Also, take note of property tax”

A fourth added, “Oh, this one just came to mind. The more space you have, the more stuff you’re going to buy to fill the space up. Having lived in 600 sqft, 1400 sqft, and 3200 sqft homes, you’ll always have just the right amount of stuff to fill up your rooms and storerooms.”

In other news, a 30-year-old Singaporean woman took to social media to share that her boyfriend’s behaviour took a turn for the worse after he lost his job two months ago.

Posting on a local forum, she listed all the “red flag” traits she had noticed, beginning with his attitude towards part-time work.

According to the woman, when she encouraged him to take on a temporary job, he allegedly threw a fit, insisting he would not “downgrade to wiping tables and mopping floors at cafés because he was a university graduate.”

Read more: Woman claims BF who has less than S$1K savings became difficult and emotional after losing job