Mar 16 2025, 10:10 AM
QUOTE(Satori 14118a @ Mar 16 2025, 05:48 AM)
pls consider the effort climbing up the stairs as you grow older
This 100%Make sure the unit you planning to buy has lift.
Now to the question: To buy or not to buy?
Let us list down Pros and Cons
Pro:
1) Have your own space that is all yours, can do anything you want. This is one of the best feeling in the world, going back to your own home after a long day at work. It's different from renting a place.
2) Owner can't chase you out suddenly. But banks might chase you if you no pay installment la
Cons:
1) Higher commitments as you need to pay more things like cukai and Indah water, monthly maintenence fee, repairs. If for rented, can just claim back from owner for repairs.
2) You are "tied" to your property. Meaning, what if your job requires you to be transferred to another state/location? If you are renting, easily you can just shift to a new location and rent again. Once you own one, the process to sell and relocate takes much longer and hassle.
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Now to the question of whether should you buy as you have no one else to pass on to.
Now this is quite "old school" thinking that has been taught by our parents. They pass on their property to us, so we think we need to have children to pass on our property.
No. We still can own property, acquire wealth even without any kin to pass on to. If you have a will, you can ask your lawyer to sell off your property and the proceeds be donated, or even donate the property to a charity organisation for them to use.
Imagine when you are old. Some home owners would not want to rent to you, knowing anytime you could pass away in their home this affecting their home value?
If you have your own place, your life could be different. You could invite people over for meals, build relationship, who knows even meet someone down the road. The possibilities are there.
But end of the day it's up to you. No wrong or right.
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